Fund Times: American Century Sees Big Departure
Plus, news on the likely Putnam sale, Evergreen brokerage fines, and more.
American Century is losing a key executive and investor. Harold Bradley, chief investment officer of U.S. growth equity mid-cap and small-cap sectors, is leaving the firm on Jan. 31. Bradley also served as portfolio manager on American Century New Opportunities (TWNOX), American Century New Opportunities II (ANOAX), and American Century Select (AASLX). He leaves to become the CIO of the Kauffman Foundation in Kansas City, Mo. Enrique Chang, American Century's incoming CIO, will now also serve as Bradley's interim successor.
We think this departure, the most recent of several over the past year, is a real blow to the firm because Bradley was a key player in the development of the quantitative models that drive the small- and mid-growth strategies. While there are others at American Century who will be able to continue this work, Bradley's loss will be felt. Additionally, Bradley was a forceful advocate for investment industry reforms, which included Congressional testimony critical of fund companies' use of soft dollars.
Lawrence Jones does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.
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