NEW YORK – Money manager American Century Investments said Thursday it signed cyclist Lance Armstrong to a multiyear pact that calls for the Tour de France star to lend his name to a new series of mutual funds.
American Century said it will launch in May the LIVESTRONG portfolios, using a name that reflects the Lance Armstrong Foundation's mission of inspiring people affected by cancer.
The Kansas City, Missouri-based fund group said it will make an annual payment to the foundation based on investments in the LIVESTRONG portfolios. Investors will not pick up any of that expense, the company said.
The image of Armstrong, who won cycling's biggest event an unprecedented seven times, will appear in national daily newspapers and investment magazines starting Friday.
With the slogan "Put Your Lance Face On," the ads will urge investors to question whether they are doing everything they can to prepare for their financial needs and goals.
Television ads using the same theme will start in May.
Armstrong, a cancer survivor, started his foundation to raise funds for people affected by the disease. The foundation created the yellow "Livestrong" wristbands.
Fidelity Investments, the world's largest mutual fund company, began using former Beatle Paul McCartney in 2005 ads urging people to save for their future.
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