Starting next month, American Century
will no longer use JPMorgan Asset Management
as sub-advisor to its $1.7 billion International Bond Fund
. Instead, Kansas City, Missouri-headquartered American Century is bringing management of the fund in-house (see American Century's
on the change). Two new hires at American Century, John Lovito
and Federico Garcia Zamora
, will run the fund. Both were previously with Lehman Brothers Asset Management
and are now based in American Century's New York office.
JPMorgan has sub-advised the fund since its inception in 1992.
Asked about the reason behind the change, American Century spokeswoman Laura Kouri told The MFWire
: "We had the opportunity to hire Steve and Federico -- two extremely qualified investment professionals -- from Lehman Brothers Asset Management. We believe this change will benefit our clients and investors and we're very excited."
Lovito, 44, spent seven years with Lehman, most recently as managing director and head of global fixed income
Garcia Zamora, 35, was most recently portfolio manager and foreign exchange strategist for global fixed income
Company Press Release
KANSAS CITY, Mo., Jan. 13, 2009 – American Century Investments announces veteran money managers John Lovito and Federico Garcia Zamora recently joined the
firm as co-portfolio managers for the $1.7 billion American Century International Bond Fund. Effective Feb. 2, the two, based in American Century Investments’ New York
office, will manage the portfolio previously subadvised by J.P.Morgan Asset Management. Lovito also serves as a member of American Century Investments' Fixed
Income Macro Strategy Team.
"John brings 22 years of fixed income investment experience, with the last 13
years focused on global and international fixed income," said American Century
Investments Fixed Income Chief Investment Officer David MacEwen. "Federico has
worked in the investment industry for the past decade and brings expertise in currency
and risk management. We believe their work together on Lehman Brothers Asset
Management’s Global Fixed Income team will benefit our clients and investors, and we
are delighted to have them join the firm."
Prior to joining American Century Investments, Lovito, 44, spent seven years
with Lehman Brothers Asset Management, most recently as managing director and head
of Global Fixed Income Strategies. Lovito was based in London and served as a lead
portfolio manager for global and international fixed income mandates. From 2001
through 2006, he was senior vice president and team leader for International Fixed
Income with Lehman Brothers Asset Management in New York. Prior to that, he served
in several capacities at Brown Brothers Harriman & Co., including global fixed income
portfolio manager. He earned a bachelor’s degree in economics from Fordham College
and a master of business administration in finance from Fordham University.
Garcia Zamora, 35, most recently served as portfolio manager and foreign
exchange strategist for Global Fixed Income with Lehman Brothers Asset Management
after joining the firm as a research analyst. Previously, he was a senior consultant with
the Ministry of Economy – Secretariat of Finance in Buenos Aires and before that, was a
senior analyst, research & development for the Buenos Aires Stock Exchange Group. He
earned his licentiate degree in economics from the Universidad Nacional del Sur, a
master’s degree in capital markets from the Universidad de Buenos Aires and a master of
business administration in finance and international business from Columbia Business
The addition of Lovito and Garcia Zamora is the latest in a series of strategic hires
within American Century Investments’ investment group. In Nov., the firm recruited
Steven Brown, previously global head of Neuberger Berman’s real estate securities, as
portfolio manager for the firm’s public REIT strategy. Joseph Gotelli, formerly of
Franklin Templeton, joined American Century Investments in July as portfolio manager
on the Municipal Bond team.
American Century Investments is a leading investment manager, committed to
delivering superior investment performance and building long-term client relationships
since 1958. Serving investment professionals, institutions, corporations and individual
investors, American Century Investments offers a variety of investment disciplines
through an array of products including mutual funds, institutional separate accounts,
commingled trusts and sub-advisory accounts. The company's 1,300 employees serve
clients from offices in New York; Mountain View, Calif. and Kansas City, Mo. James E.
Stowers Jr. founded the company and serves as co-chairman of the board. Jonathan S.
Thomas is president and chief executive officer and Enrique Chang is chief investment
officer. For the past nine years, American Century Investments has been selected as one
of FORTUNE Magazine's 100 Best Companies to Work for in America.
Armie Margaret Lee
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