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2017 Tax Form 8937
Short Duration. Tactical Sector Management. The Short Duration Strategic Income Fund seeks to complement an investor's core bond holdings with high current income, broad diversification and the potential to mitigate the impact of rising rates.
Seeks income. As a secondary objective, the fund seeks long-term capital appreciation.
In pursuit of a high level of monthly income, the management team tactically adjusts the portfolio's sector positions based on fundamental credit factors and technical market events. They have the latitude to quickly reshape the portfolio's sector exposure within the short duration space.
The management team casts a wide net in an effort to build a broadly diversified, income- producing portfolio. The fund's holdings span a wide swath of the U.S. and non-U.S. bond market, with specific emphasis on income oriented sectors, including high yield, emerging markets debt and preferred stock.
The fund's income-focused investment process is driven by American Century Investments' top-down macro strategy view and bottom-up sector management. Through portfolio construction the managers seek to deliver income and volatility characteristics that fall between the levels provided by investment grade corporate bonds and high yield corporate bonds.
The fund's short duration approach offers the potential to mitigate the impact of rising rates.
Diversification does not assure a profit nor does it protect against loss of principal. Generally, as interest rates rise, the value of the securities held in the fund will decline. The opposite is true when interest rates decline.
Current income through investments in income-producing securities.
Employs tactical sector management. May complement an investor's core bond holdings with current income an broad diversification. The fund's short duration approach offers the potential to mitigate the impact of rising rates.
Average annual total returns illustrate the annual compounded returns that would have produced the cumulative total return if the fund's performance had remained constant throughout the period indicated. Returns for periods less than one year are not annualized.
For periods prior to the inception of a class, performance is for the oldest class, restated with applicable fees, if any.
Top Ten Holdings: This value represents the top ten holdings included in the portfolio on a percent of assets basis. Equity holdings are grouped to include common shares, depository receipts, rights and warrants issued by the same company. Holdings are rounded to the nearest whole number, which may result in the display of less than ten holdings.
Represents direct and indirect exposure to instruments held by the fund or instruments in funds held by the fund.
Maturity: Describes the portfolio of the fund in terms of the different maturities of the securities it holds.
Weighted average life to maturity (WALM) is a measure of the sensitivity of a fixed income portfolio to interest rate changes. WALM is the average time in years to receive the principal repayments. Accordingly, WALM reflects how a portfolio would react to deteriorating credit or tightening liquidity conditions.
Senior Vice President and Co-Chief Investment Officer — Global Fixed Income
Senior Vice President, Senior Portfolio Manager
Vice President, Senior Portfolio Manager
The management fee has been restated to reflect the decrease in the management fee schedule effective August 1, 2020. Returns or yields for the fund would have been lower if a portion of the management fee had not been waived. Review the annual or semiannual report for the most current information.
Diversification does not assure a profit nor does it protect against loss of principal.
Generally, as interest rates rise, the value of the securities held in the fund will decline. The opposite is true when interest rates decline.
Please see the prospectus for details about sales charges.
The gross expense ratio is the fund's total annual operating costs, expressed as a percentage of the fund's average net assets for a given time period. It is gross of any fee waivers or expense reimbursement. The net expense ratio is the expense ratio after the application of any waivers or reimbursement. This is the actual ratio that investors paid during the fund's most recent fiscal year. Please see the prospectus for more information.
Only Investor Class shares are made available to investors directly. Advisor, A, C, I, and Y Classes of shares are only available for purchase by institutions or other financial intermediaries. R, R5, and R6 Classes of shares are only available for purchase by group employer-sponsored retirement plans. Review definitions and minimums for all share classes.
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Sources: Bloomberg Index Services Ltd, FactSet
For detailed descriptions of indices or investing terms referenced above, refer to our glossary.