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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, Senior Portfolio Manager
Vice President, Senior Portfolio Manager
Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value fluctuates. Redemption value may be more or less than original cost. Obtain performance data current to the most recent quarter end.
The advisor will waive the portion of the fund's management fee equal to the expenses attributable to the management fees of the American Century funds in which the fund invests. The amount of this waiver fluctuates depending on the fund's daily allocation to other American Century funds. This waiver is expected to remain in effect permanently and it cannot be terminated without the approval of the Board of Trustees. Effective December 1, 2018, the advisor also agreed to waive an additional .09% of the fund's management fee. The advisor expects this fee waiver to continue until November 30, 2019, and cannot terminate it without the approval of the Board of Trustees.
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.
Net expense ratio is the total annual operating expense ratio for the fund, net of any fee waivers or expense reimbursements. Gross expense ratio is the total annual operating expense ratio for the fund, gross of any fee waivers or expense reimbursements. Expense ratios are as of the funds' most current prospectus. This is the actual ratio that investors paid during the fund's most recent fiscal year.
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.
Lipper rankings are based on average annual total returns. Portions of the mutual fund performance information contained on this page were supplied by Lipper, a Thomson Reuters Company, subject to the following: Copyright 2018 © Thomson Reuters. All rights reserved. Any copying, republication or redistribution of Lipper content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Lipper. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. Performance data is preliminary and subject to revision. Rankings are based on all classes available within the classification as of the date shown. Rankings are based only on the universe shown.
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Sources: Bloomberg Index Services Ltd, FactSet
For detailed descriptions of indices or investing terms referenced above, refer to our glossary.