American Century Investments of Kansas City, Mo., has bought $225 million of assets from Kopp Investment Advisors.
American Century, which managed $104 billion of assets before the acquisition, added the Minneapolis company's Kopp Emerging Growth Fund and Kopp Total Quality Management Fund. The price was not disclosed.
The assets have been added to the American Century New Opportunities II Fund and the American Century Equity Growth Fund.
David Tucker, American Century's vice president for business development, said Monday in a press release that the acquisition will mean lower fees for American Century's customers.