It’s a common refrain that the American century fund, which was founded by John Putnam, will hit its highest price ever in 2019.
Putnam is a major shareholder in the fund, with about 25 percent of its value.
It is widely expected that Putnam’s stake in the American centurys investment fund will be worth about $2.7 billion in 2019, with a market value of about $40 billion, according to a report by Bloomberg.
The fund has a long history of being among the most successful investments by a billionaire.
During the dot com bubble, the fund had an average price of $6.85 per share in the year 2000, according a Bloomberg article.
Its stock price has grown to nearly $65 a share in 2018, which is more than twice its initial value of $15 in the late 1990s.
Read MoreWhen putnam first took control of the fund in 2005, it sold about $30 billion of the shares that had been issued, Bloomberg reported.
In its most recent annual report, Putnam said that its stock price had risen to $68.66 per share by 2019, which he described as a “significant return.”
The American Century fund’s value has been steadily rising over the years.
Shares of the American Centurys fund have risen about 10 percent a year for the past several years.
In 2018, it was up 5 percent.