Dec. 11 (Bloomberg) -- American Century Cos., the money manager founded by James Stowers, named Victor Zhang and David MacEwen co-chief investment officers, replacing Enrique Chang who left this year to join Janus Capital Group Inc.
Zhang, 42, previously president and CIO of the fund unit at Wilshire Associates Inc., will run the firm’s equity investments, Kansas City, Missouri-based American Century said today in a statement. MacEwen, 52 and with American Century since 1991, will be in charge of fixed income.
Zhang and MacEwen will together oversee $137 billion. The firm manages about $102 billion in stock, bond, money-market and target-date retirement funds, according to data compiled by Bloomberg. The firm’s target-date funds, which automatically shift assets to more conservative investments as a client ages, had the best performance among competing funds from large providers after adjusting for price swings in the three years through 2012.
Zhang’s appointment is effective Feb. 17. He and MacEwen will report to Chief Executive Officer Jonathan Thomas.
--Editors: Christian Baumgaertel, Sree Vidya Bhaktavatsalam