American Century Investments Sets Strategic Changes in ETFs
American Century Investments Announces ETF Changes
American Century Investments is implementing significant changes within its Exchange Traded Funds (ETFs) lineup. As part of their ongoing strategy, the firm plans to close and liquidate two ETFs: the American Century Quality Preferred ETF (QPFF) and the American Century Quality Convertible Securities ETF (QCON).
Timeline for ETF Liquidation
The QPFF and QCON will halt trading on the Cboe BZX Exchange Inc. when the market closes, leading to the liquidation of these funds soon after. Shareholders will not be able to sell or redeem their shares following this trade halt. Approximately a week later, the funds are scheduled for consolidation and distribution of remaining assets to investors yet to sell their shares. It is essential to note that before the liquidation process begins, the funds may temporarily deviate from their established investment objectives in preparation for final distribution.
Assets Under Management
Despite the changes being made, American Century Investments actively manages an impressive portfolio, with total ETF assets of around $72 billion as of mid-year. This figure reflects the firm’s capability and commitment to managing a diverse array of investment options.
About American Century Investments
Founded in 1958, American Century Investments has grown to become a prominent global asset manager. They strive not only for investment excellence but also aim to form long-lasting relationships with their clients. The company emphasizes corporate responsibility, pledging to allocate over 40% of its dividends to the Stowers Institute for Medical Research, which conducts critical medical research. The institute is a significant stakeholder, owning over 40% of American Century Investments and having received over $2 billion in dividends since the year 2000.
Leadership at American Century Investments
Under the guidance of president and CEO Jonathan S. Thomas, alongside chief investment officer Victor Zhang, the firm focuses on delivering exceptional results to its clients. Their broad network of investor relationships spans various sectors and geographies, reflecting the firm’s expansive reach.
Commitment to Investors
American Century Investments remains dedicated to promoting financial health for its clients. Their comprehensive array of investment products helps cater to a diverse clientele, ensuring that individual and institutional investors alike can achieve their financial objectives.
Frequently Asked Questions
What changes is American Century Investments making?
They are closing and liquidating the American Century Quality Preferred ETF (QPFF) and the American Century Quality Convertible Securities ETF (QCON).
When will the ETFs cease trading?
The ETFs will stop trading at the end of the market day, with liquidation planned shortly afterward.
Why are they liquidating these ETFs?
The liquidation is part of a strategic restructuring to better align with their investment goals.
What is American Century's total ETF asset management?
As of mid-year, they manage approximately $72 billion in ETF assets.
How does American Century support medical research?
The firm allocates over 40% of its dividends to the Stowers Institute for Medical Research, supporting vital health initiatives.
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