American Century Capital Value Fund Investor Class (ACTIX)
Filed: 17 Dec 08, 12:00am
Filed by: American Century Mutual Funds, Inc.
Pursuant to Rule 425 under the
Securities Act of 1933, as amended
Subject Company: American Century World Mutual Funds, Inc.
Investment Company Act File No: 811-06247
December 17, 2008 [ACI LOGO]
Dear Client,
We'd like to advise you of a number of strategic changes we are implementing
within our investment group. These moves will enhance our ability to execute our
investment processes across our various disciplines for the benefits of our
clients.
INTERNATIONAL EQUITY
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We are pleased to announce that Mark Kopinski, senior vice president &
senior portfolio manager, is promoted to Chief Investment Officer, International
Equity. With this promotion, Mark On, Chief Investment Officer, International
Equity, and co-portfolio manager for Emerging Markets, is leaving the firm
effective December 19. Mark On's departure was a mutually agreed decision.
With 24 years of investment experience, Mark Kopinski was a natural choice for
the role, given his tenure and position within the International Equity group,
his demonstrated leadership skills and his dedication to our firm and our
clients. Mark was an inaugural member of our International Equity group and
established our first international equity strategies beginning with
International Growth in 1991 and International Discovery in 1994. Mark briefly
left the firm in 1995, returning in 1997 to launch Emerging Markets and rejoin
International Discovery, where he's served as a portfolio manager the past 11
years. He is also co-portfolio manager on International Opportunities. As with
other American Century CIOs, Mark will continue to dedicate the majority of his
time to his portfolio management duties.
During his 16 years with the company, Mark has displayed the qualities we expect
from our top leaders in investment management and has been involved in many key
decisions within the International Equity group. We are excited to tap his
expertise for the benefit of all of our International Equity clients.
We are actively searching for a portfolio manager to co-manage Emerging Markets
with veteran Portfolio Manager Patricia Ribeiro and anticipate having someone in
place during the first quarter 2009.
U.S. GROWTH EQUITY
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We are combining the portfolio teams for Ultra and Select in order to more
effectively leverage the analytical resources of the teams. Both strategies will
be managed by U.S. Growth Equity Chief Investment Officer Stephen Lurito, Vice
President and Portfolio Manager Keith Lee, CFA, and Portfolio Manager Michael
Li, PhD. They will be supported by a team of six investment analysts. As a
result of the team consolidation, Tom Telford, CFA, vice president and portfolio
manager on Ultra and Technology, is leaving the firm, effective December 19.
FOR INSTITUTIONAL USE ONLY/NOT FOR PUBLIC USE
Also, the Board of Directors for American Century Life Sciences and American
Century Technology has approved the reorganization of these funds into American
Century Growth, contingent upon shareholder proxy vote slated for 2009. As a
result, Vice President and Senior Portfolio Manager Arnie Douville and Vice
President and Portfolio Manager Christy Turner, CFA, are leaving the firm,
effective December 19. Stephen Lurito will serve as portfolio manager on both
Life Sciences and Technology until the reorganization is completed.
ASSET ALLOCATION
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We are formally creating an Asset Allocation Committee to establish policy and
review investment decisions for all of our asset allocation products, effective
January 1, 2009. Chief Investment Officer Enrique Chang will head the committee,
which will be comprised of our five discipline chief investment officers (CIOs)
and Jeff Tyler, CFA, senior vice president and senior portfolio manager on the
Asset Allocation team.
For years, American Century Investments' asset allocation strategies have relied
on CIO input when constructing portfolios. Given the success of our products in
the marketplace and the growing importance of asset allocation portfolios among
our clients, the creation of the Asset Allocation Committee formalizes an input
process that has helped these strategies generate superior investment
performance.
As head of the Asset Allocation Committee, CIO Enrique Chang will be named as a
portfolio manager on each of our asset allocation strategies (LIVESTRONG(TM)
Portfolios, Strategic Allocation series, One Choice Portfolios and Learning
Quest(R) 529 Education Savings Program), working with Jeff Tyler and Portfolio
Manager Irina Torelli.
We appreciate you entrusting us with your assets and assure you that we are
committed to your success. We remain highly confident in our ability to produce
superior results as we maintain a steadfast focus on meeting your needs. If you
have questions, please call your American Century Investments relationship
manager at 1-800-345-6488.
Best regards,
American Century Investment Services, Inc.
THE INFORMATION INCLUDED HEREIN IS NOT AN OFFER TO SELL, NOR A SOLICITATION OF
AN OFFER TO BUY, SHARES OF ANY INVESTMENT COMPANY, NOR IS IT A SOLICITATION OF
ANY PROXY. AMERICAN CENTURY MUTUAL FUNDS, INC. WILL FILE A PROXY
STATEMENT/PROSPECTUS AND OTHER RELEVANT DOCUMENTS REGARDING THE REORGANIZATIONS
WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION (THE "SEC"). INVESTORS ARE
URGED TO READ THESE DOCUMENTS BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION
ABOUT THE REORGANIZATIONS AND RELATED MATTERS. YOU WILL BE ABLE TO OBTAIN THESE
DOCUMENTS FREE OF CHARGE AT THE SEC WEB SITE (WWW.SEC.GOV).
YOU SHOULD CONSIDER THE FUNDS' INVESTMENT OBJECTIVES, RISKS, CHARGES AND
EXPENSES CAREFULLY BEFORE YOU INVEST. THE FUNDS' PROSPECTUSES, WHICH CAN BE
OBTAINED BY CALLING 1-800-345-6488, CONTAIN THIS AND OTHER INFORMATION ABOUT THE
FUNDS, AND SHOULD BE READ CAREFULLY BEFORE INVESTING.
FOR INSTITUTIONAL USE ONLY/NOT FOR PUBLIC USE
American Century Investments
P.O. Box 419385, Kansas City, MO 64141-6385
1-800-345-6488 or 816-531-5575
americancentury.com/ipro
American Century Investment Services, Inc., Distributor
©2008 American Century Proprietary Holdings, Inc.
All rights reserved