American Century Investments has announced a
reorganization plan that will result in it absorbing 10 of 11 funds in
the Mason Street family.
The plan, which has already been approved by the
American Century Funds and Mason Street Funds boards of directors, will
result in the 10 funds merging into new or existing American Century
funds.
It is still subject to the approval of Mason Street Funds shareholders.
Under the plan, the Mason Street Small Cap Growth, Aggressive Growth,
Select Bond and High Yield Bond funds will be reorganized into
co-branded American Century-Mason Street that will be advised by
American Century and sub-advised by Mason Street Advisors.
The Mason Street International Equity and Municipal
Bond funds will be reorganized into newly created American Century
Funds to be advised by American Century. Templeton Investment Counsel
LLC will continue to sub-advise the International Fund.
Mason Street's Index 500, Large Cap Core, Asset
Allocation and Growth Stock Funds will be reorganized into existing
American Century Funds and be advised by American Century.
The six newly created American Century funds will be load products.
Northwestern Mutual, the parent company of Mason
Street Advisors, will relinquish retail fund sponsorship and
administration responsibilities.
A meeting to allow Mason Street shareholders to
consider and vote on the reorganization will be held March 2006. If
approved, the plan will be effective March 31.