American Century closes Equity Income Fund to new investors on Nov. 30

By Toni Weeks

San Diego, Oct. 31 - The American Century Investments Equity Income Fund announced it will be closed to new investors effective Nov. 30, according to a 497 filing with the Securities and Exchange Commission.

Shareholders who have open accounts may make additional investments and reinvest dividends and capital gains as long as they own shares of the fund.

In addition, investors from any of the following categories may continue to invest:

• Financial intermediaries who trade using omnibus by fund accounts and have received prior approval from the fund may permit additional investments in these product types: broker-dealer sponsored fee-based wrap discretionary asset allocation model portfolio products, bank/wealth management discretionary model portfolio products, employer-sponsored retirement plan non-open architecture products and insurance contracts. The fund must have been established, or in the process of being established, as an investment option in the plan or product prior to the fund's closing;

• Participants in employer-sponsored retirement plans. These participants will also be permitted to open an IRA rollover account;

• Certain funds of funds and 529 college savings plans advised by American Century; and

• Members of the fund's portfolio management team.

The fund is managed by Kansas City, Mo.-based American Century Investments.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.