American Century Investments has reduced the management fee for the American Century Diversified Corporate Bond Exchange Traded Fund (KORP) from 0.45 per cent to 0.29 per cent. The fee reduction for KORP was effective from 14 June.“With KORP now exceeding $60 million and attracting steady flows, we decided to reduce the fees in order to provide better value to investors,” says Edward Rosenberg, senior vice president and head of ETFs for American Century Investments. “Our goal has always been to provide a lineup of ETFs that apply our unique insights to solve common investment problems.”KORP is an actively managed corporate bond fund designed for investors seeking current income. The fund emphasises investment-grade debt while dynamically allocating a portion of the portfolio to high yield in a single, systematically managed portfolio. By integrating fundamental and quantitative expertise, the portfolio management team strives for enhanced return potential versus traditional capitalisation-weighted passive portfolios.The fund is co-managed by Charles Tan, Jeffrey Houston, Le Tran and Gavin Fleischman. Senior Vice President and Global Fixed Income co-chief investment officer Tan joined American Century in 2018. Vice President and Senior Portfolio Manager Houston has been with the company since 1990. Vice Presidents and Portfolio Managers Tran and Fleischman joined the firm’s fixed income team in 2004 and 2008, respectively.
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