American Century said Thursday that will drop the Livestrong name from its target-date funds at the end of May. These funds will be rebranded One Choice, which the Kansas City-based firm uses now for its target-risk funds.
According to Morningstar, the Livestrong funds have been marketed by American Century in cooperation with the Livestrong Foundation since 2006 and have about $7.6 billion in assets, making the group the 10th largest series of target-date mutual funds in the United States.
In addition, American Century says in late July it will add a new retirement plan share class to many of its mutual funds and consolidate its asset-allocation “fund-of-funds” portfolios under a single sub-brand: R6.
“Seven years ago, the co-branding of our target-date funds as Livestrong was an innovative way to support those impacted by cancer, while sharing with clients and the public at large how a significant portion of our corporate profits fund lifesaving research,” said Chief Marketing Officer Mark Killen, in a press release. “While we continue to support Livestrong and its mission, in light of our broadened commitment to the cause, showcasing a single entity no longer tells the full story.”