Phillip Davidson was named CIO of value equity at American Century Investment Management, and John Schniedwind was named CIO of quantitative equity, both new positions. Both tasks were handled by Mark Mallon, who was named CIO last week. Mr. Davidson will remain co-manager of the American Century Equity Income and Value funds; Mr. Schniedwind will retain his portfolio management duties on the quantitative side of the business.
Separately, American Century will change the status of nine no-load funds to load funds to offer them only through intermediaries as of Feb. 3. The affected funds are the American Century Value, Select, New Opportunities II, Large Company Value, International Growth, High-Yield Municipal, High-Yield, Diversified Bond and California High-Yield Municipal funds. These funds will remain available to 401(k) plans, said Laura Kouri, spokeswoman.