put on a big party recently to celebrate its newfound stability, according to the Kansas
Employees gathered last Wednesday for a party inside the Kansas City
offices of the 54-year-old money manager. Executives had surprised
them at the elevators with posters proclaiming good times, the paper reports.
“We really like where we are right now,” chief executive Jonathan
said in a recent interview ahead of the celebrations.
The management aims to stabilize the company for the sake of its
owners and 1,300 employees. Though this might mean lower profits and
less revenue, this would also help them avoid cutbacks and layoffs.
of BJ Greenwald Associates
in Philadelphia said
American Century ranked in the top third of all money managers in the
2011 McKinsey & Co benchmarking survey.
Greenwald said this is pretty impressive.
The new "risk aware" strategy that American Century employed since
2007 helped the company reach a broader market. Thomas said they are
after greater stability. The chief executive said, "It's a very
different company in a lot of different ways."
For example, American Century in the last century made money by investing
in go-go growth stocks, according to the paper.
Now it gets as much work investing money in plain old bonds — which happen to be the hottest ticket in
mutual funds since the stock market’s plunge in 2008.
For more on American Century's evolution, read the full article
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