Feb. 4, 2003 — The minimum initial investment for American Century Tax Managed Value/Inv (ACTIX) will be lowered to $2,500 from $10,000, starting next month.
The move is aimed at making the fund’s investment threshold “consistent” with those of American Century’s other stock funds, Brian Spano, a spokesman for the fund company, said.
Tax Managed Value’s minimum initial investment was set higher when the fund was introduced four years ago to discourage investors from rapidly buying and selling shares, he said. The fund also originally carried a redemption fee, which was eliminated last year, Spano added.
American Century also said the name of the fund as well as that of the American Century Small Cap Quantitative/Inv (ASQIX) will be changed next month to “better reflect their underlying investment processes and strategies.”