American Century Investments is raising the number of funds it offers to 75 with the launch of two new, aggressive sector mutual funds tomorrow. The new funds -- American Century Life Sciences and American Century Technology -- raised $72 million and $100 million respectively during a subscription period which ended today.

Both funds focus on finding companies demonstrating the potential for accelerating growth, exhibited through certain factors, including new product introductions, new patents or innovations or other market differentiators. They will both be concentrated, multi-cap funds allowing the managers to concentrate the funds' assets in their top picks and buy companies of any size. The funds are focused domestically, but they also have the ability to invest overseas.

American Century Life Sciences Fund (managed by Arnie Douville and Christy Turner) will invest in companies that strive to improve the quality of human life. The fund's investment reach covers the entire universe of life sciences firms, from large-cap pharmaceuticals to small, fast-growing biotechnology firms.

American Century Technology Fund (managed by Chris Boyd and Doug Day) will invest in what the fund managers believe will be fast-growing technology-related companies and those that will benefit significantly from advances in technology.

The annual management fee of both funds for retail investors (Investor Class shares) is 1.5 percent for the first $1 billion in net assets under management, and 1.3 percent when assets are greater than $1 billion.

Turner Funds is opening the doors on three new specialized stock mutual funds -- the Turner Global Top 40 Fund, the Turner B2B E-Commerce Fund, and the Turner Wireless & Communications Fund -- tomorrow. The new no-load firms will bring the Turner family to 11 funds with more than $8 billion under management. The funds will be distributed by SEI Investments Distribution Co. (Oaks, Pennsylvania).

All three funds will be to seek long-term capital appreciation and will seek to identify candidates for investment in all capitalization segments that have strong earnings prospects, reasonable valuations, and favorable trading-volume and price patterns.

Each fund is assigned a lead product manager and several comanagers, who collectively make all investment decisions. All the managers have experience running other funds at Turner.

The Turner Global Top 40 Fund (Mark Turner, lead product manager, and Bob Turner, Robb Parlanti, and Chris Perry, comanagers) will invest in the stocks and American Depository Receipts (popularly known as ADRs) of companies in the U.S. and developed foreign markets, such as those in Europe and the Pacific Basin. Holdings will typically consist of 30-50 stocks that represent Turner's best investment ideas worldwide. The fund will compare its performance to that of the MSCI World Index.

The Turner B2B E-Commerce Fund (managed by Chris McHugh, lead product manager, and Bob Turner and John Hammerschmidt, comanagers) will invest primarily in stocks of companies that do business in some way via the Internet, e. g., that develop or market technologies, products, and services for business-to-business (B2B) electronic commerce (e-commerce). In Turner's estimation, the Internet will radically reshape the way organizations do business, with revenue from B2B e-commerce likely to dwarf that from business-to-consumer e-commerce in this decade. The fund's benchmark will be the Pacific Stock Exchange Technology 100 Index.

The Turner Wireless & Communications Fund (managed by Chris McHugh, lead product manager, and Bob Turner and Robb Parlanti, comanagers) will invest mainly in stocks of companies in such communications businesses as telecommunications networks, wireless and satellite communications, hand-held communications devices, communications equipment, and communications services. In Turner's judgment, communications companies in aggregate will grow appreciably faster than the overall economy in the years ahead. The fund's performance index will be the Pacific Stock Exchange Technology 100 Index.  

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