Products June 2, 2008

American Century Unveils Four More Target-Date Offerings

American Century Investments rolled out four target-date LIVESTRONG Portfolios, the company announced.
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The nine LIVESTRONG Portfolios now include target dates in five-year intervals from 2015 to 2050. The latest funds are LIVESTRONG 2020, 2030, 2040, and 2050 Portfolios and join the existing line up: LIVESTRONG 2015, 2025, 2035, 2045 Portfolios and LIVESTRONG Income. The same fund-of-funds structure, objective, and strategy that apply to the management of the existing portfolios also apply to the new portfolios.

According to the company, LIVESTRONG Portfolios are designed to reallocate from a capital appreciation focus to a more conservative one as the target date approaches. The LIVESTRONG Income Portfolio is for retirement investors seeking current income with some growth potential.

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The five portfolios invest in up to 14 different funds and provide exposure to specialty strategies such as real estate, emerging markets, international bonds, and inflation-indexed bonds.

The standard fund minimum is $2,500, although for a traditional or Roth IRA, American Century will waive the fund minimum for an initial investment of at least $500 and subsequent enlistment in automatic monthly investments of at least $100 until reaching the fund minimum.

“The new funds will employ the same glide path as the existing funds with a range of underlying funds and rebalance each year until the participants reach their anticipated year of retirement,” said Jeffrey Tyler, American Century Investments senior vice president and senior portfolio manager of the LIVESTRONG Portfolios, in a company news release. “Our clients have asked us for this added flexibility and we’re pleased to propose such a selection for investors with a long-term horizon. Our objectives are to offer investors diversification and an increased opportunity to meet their investment goals and stay on course.”

In addition to Tyler, a 21-year American Century veteran, the portfolio management team for LIVESTRONG Portfolios includes Irina Torelli, who joined the company in 1997. Tyler and Torelli also oversee American Century’s other asset allocation funds: three Strategic Allocation funds, the five One Choice Portfolios, and multiple target-date portfolios available through the Kansas Learning Quest 529 Education Savings Program.

Deals & People June 2, 2008

Team of Relationship Managers Jumps from Citigroup to Credit Suisse

Credit Suisse announced that the team of relationship managers led by Managing Directors Richard S. Zinman and Anthony A. Dertouzos has joined the New York office of Private Banking USA.
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The seven-person team, which comes to Credit Suisse from Citigroup Global Wealth Management, will report to Matthew Gorman, head of the New York office.

The Zinman/Dertouzos team’s business is composed of four areas: risk management, trust and estate and transfer planning, asset management, and customized lending.

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Zinman and Dertouzos joined Citigroup in 2001, both previously part of a team in the Private Client Services group at Banc of America Securities.

“This team is widely recognized in the industry for their exceptional ability to serve the complex needs of high-net worth and ultra-high-net-worth individuals. We are very excited to have them join our Credit Suisse team,’ said Anthony DeChellis, head of Private Banking Americas.

Credit Suisse Private Banking USA operates out of 16 offices across the United States and works with a select number of wealthy individuals and family groups to provide a high degree of personalized service.

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