Twentieth Century Mutual Funds, soon to be renamed American Century, is looking at expanding into high-yield bonds and growing its international and conservative equity product lines. The growth might be through acquisition of talent or of an entire firm, said W. Gordon Snyder, executive vice president and chief marketing officer.
While Mr. Snyder said no search is under way to purchase a firm, he just returned from Scotland where talks on a potential purchase of a minority stake in an international manager broke down.
In international, Mr. Snyder said it is likely Twentieth Century would seek a firm with a different strategy than its growth-oriented, quantitative approach. But it would like the strategy to be team-oriented like its own domestic equity approach. In domestic equities, ``there's no search under way but we wouldn't be opposed to acquiring a value firm, someone with another value style,'' he said.
