American Century Championship `Golf & Investing Survey': Golfers `Shoot for the Green' on the Course, but `Play It Safe with Pars' When It Comes to Investing.

Sports Editors/Business Editors

American Century Championship, July 18-20

KANSAS CITY, Mo.--(BUSINESS WIRE)--July 10, 2003

Golfers are far more likely to "go for the green" on the links than they are with their investments, according to an American Century Investments-sponsored national survey of 400 Golf Digest subscribers. The study was conducted in conjunction with the American Century Championship, a celebrity golf tournament played July 18-20 at Lake Tahoe.

When asked to describe their personal investing strategy using the lexicon of golf, two-thirds (63 percent) of golfers state that they are "playing it safe with pars," while the remainder (35 percent) say they are "still shooting for birdies" with their investments. Only 39 percent say they are "going for distance" in investing, while 57 percent are concentrating on "trying to perfect their short game."

"I guess we're playing for keeps now...."

Golfers tend to be far more aggressive on the course than they are with their investments. While roughly half of survey respondents (53 percent) describe themselves as "aggressive" golfers, only one in four respondents (28 percent) describe themselves as "aggressive" investors. That said, self-proclaimed aggressive golfers are more likely to consider themselves to be aggressive investors than are less aggressive golfers: 38 percent of aggressive golfers call themselves aggressive investors, versus only 17 percent of non-aggressive golfers.

"Given the current state of the economy and the market's volatility over the past several years, it's not altogether surprising that golfers perceive themselves as less aggressive with their money than they are with their approach to golf," said Michael Barr, American Century, senior vice president of corporate marketing. "Since the boom years of the late 1990s, the market's moved from an easy chip-and-putt course to a more challenging one filled with major championship rough, traps and hazards."

Perhaps in response to these challenges, the majority of golfers turn to an investment "caddy" to help them make investment decisions. More than half (54 percent) of survey respondents say they "seek advice from investment professionals" to help them make better investments. About the same number (56 percent) "seek advice from golf professionals" to help improve their game.

"It's easy to grin when your ship comes in and you've got the stock market beat...."

Golfers also tend to practice investment strategies that emphasize perseverance. Roughly three-quarters (71 percent) say their approach to investing is to go "slow and steady," while about the same number (70 percent) say they "believe in the buy and hold philosophy of investing." Two-thirds (62 percent) say that it is important for them to "minimize risk in order to keep the assets I have." In contrast, one in five (21 percent) say they are "willing to take substantial risks with my investments for the potential of a large return."

"Just be the ball, be the ball, be the ball."

The vast majority of golfers (70 percent) believe investing is "all about the fundamentals and numbers," while 25 percent prefer to rely on "feel and intuition." Golfers are sharply divided about defining success in investing, with 49 percent believing "it's not whether you win or lose, but how you play the game," while 47 percent feel "winning isn't everything, it's the only thing."

On average, the golfers surveyed play about 4.7 rounds of golf per month. Assuming a round lasts 3.5 hours, each golfer would play approximately 16 hours per month. This comparesto a little more than nine hours managing their investments according to the survey. "It appears that avid golfers spend significantly more time on the links then they do managing their portfolios," said Barr.

About the American Century Championship

The American Century Championship is a 54-hole tournament, played at Edgewood Tahoe's 6,797-yard lakeside course. This year's event will feature a field of more than 80 celebrities and sports figures competing for $500,000 in prize money. The event will receive extensive national exposure with ESPN airing Friday, July 18's opening round action from 7:30-9:30 p.m. ET and NBC providing live weekend coverage Saturday from 4-6 p.m. ET and Sunday from 3-6 p.m. ET.

About American Century

American Century is a leading investment manager with more than 40 years of experience helping investors achieve their financial goals. Serving investment professionals, institutions, corporations and nearly two million individual investors, American Century offers a broad array of products across a variety of investment disciplines.

Based in Kansas City, Mo., the company manages approximately $80 billion in assets through mutual funds, managed accounts, commingled trusts and subadvisory accounts. James E. Stowers Jr. founded the company in 1958 and serves as chairman. His son, James E. Stowers III, is co-chairman and William M. Lyons is president and chief executive officer. For the past four years, American Century, which employs approximately 1,900 people, has been selected as one of FORTUNE Magazine's 100 Best Companies to Work for in America. For more information about the company, visit www.americancentury.com.

This information is for educational purposes only and is not intended to recommend any particular investment product or service.

Subheading quotes from the 1989 motion picture "Caddyshack," Orion Pictures Corporation, Warner Brothers.