American Century Investments started a fund family Monday that it said would let investors support cyclist Lance Armstrong's cancer foundation.
American Century's Livestrong Portfolios is a rebranded group of target date funds that were originally offered in 2004 and now have $300 million of assets, the Kansas City, Mo., money management company said. It is to pay at least $1 million to the Lance Armstrong Foundation in the first year of their multiyear collaboration but could pay more, depending on sales.
The money is to be paid by the company, not as an expense of the funds. The portfolios include life-cycle funds tied to target dates of 2015, 2025, 2035, and 2045. American Century manages more than $100 billion of assets overall, including about $6 billion in asset allocation products.
