First of its kind? https://www.marketwatch.com/articles/american-century-investments-lawsuit-51636672247?mod=mw_latestnews
Suit is against American Century Funds and directed to TWVLX. "American Century told Barron’s in an email that the allegations are “false and completely without merit” and that it will vigorously defend itself against the lawsuit."
In the Large Cap thread I posted about PRBLX and how I admire its performance but I have a hard time switching from FXAIX or SPY to it because the performance is so similar. Am not implying that it's a closet indexer as I've done ZERO research on the subject on this fund but when I read the story above about closet indexing (something I wasn't familiar with) ... it made me think of my recent post. I'll have to take a closer look at several examples.
Wonder how many other funds too closely mirror their benchmark index?
Corrected… American Century… not American.