American Century’s momentum is increasingly driven by Avantis Investors, while the rest of the firm holds a steadier course; the firm maintains an Average Parent rating.
Avantis Investors remains a source of strength. The exchange-traded fund unit was launched in 2019 under Eduardo Repetto. Repetto joined after 17 years with Dimensional, and his group (one of American Century's two systematic active investment groups) has grown to more than USD 140 billion in assets as of June 2026 from roughly USD 40 billion in assets in 2024. It now represents more than 40% of the firm’s total assets under management and most of its net inflows to funds and ETFs. Avantis’ success demonstrates the firm’s ability to offer a thoughtful product lineup at low fees.
American Century’s other active strategies still anchor the slight majority of the firm’s AUM but have struggled to stand out consistently to investors, who often gravitate to the cheapest or best-performing funds. Of the firm’s six investment teams (excluding Avantis), both the value and growth equity teams can boast a few highly rated funds. The teams have been relatively stable and otherwise executed on long-term succession plans through a few senior-level retirements. On the other hand, American Century’s disciplined equity team (its second systematic group) and its multi-asset team have gone through abrupt personnel changes, underperformance versus peers, or both.
Over the past few years, the firm has leaned into the ETF structure, like many peers. It has continued to introduce Avantis ETFs globally, as well as a handful of active-equity and active-fixed income ETFs in the US run by American Century investment teams. Unlike some of its competitors, it has exercised caution about unduly chasing trends, most notably staying out of private credit. The Stowers Institute for Medical Research, a nonprofit started by American Century’s founder that studies cancer and other diseases and disorders, maintains a controlling interest; this stability and private structure support a long-term orientation for the firm. As the firm’s investment in Avantis is paying off, more consistency across the board would bolster our confidence.
United States