American Century is taking an unpopular investment turn with a pair of new funds opening for subscription tomorrow. Both offer aggressive small-cap investing, an odd duckling style in the current market. The firm will also add five new portfolios to it variable annuity line, Variable Portfolio.

The New Opportunities II Fund reopens the small cap aggressive style for investors at American Century, as the original fund has closed to new investors. Co-managers Chris Boyd, John Seitzer and Tom Telford also helm New Opportunities I. The fund will close when it reaches $500 million and opens at a $5 share value, with a $10,000 minimum. The management fee is 150 basis points.

The International Opportunities fills a similar investment niche in the international market and is co-managed by Lynn Schroeder and Trevor Gurwich. The fund will close when it reaches $500 million and opens at a $5 share value, with a $10,000 minimum. The management fee is 200 basis points.

The Kansas City firm has registered five new portfolios that mirror similarly-named funds for variable annuities: Global Growth, Growth, Ultra, Vista and Prime Money Market. The new additions more than double the existing offering of four funds. 

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