Fixed Income

Pursuing Conviction-Driven Outperformance



Clients around the world look to us to pursue consistent results with portfolios of individually researched bonds.

Whether you’re looking for income, diversification, inflation hedging or tax-managed solutions, our fixed income portfolios seek to benefit from strong markets while pursuing reduced drawdowns in declining markets.



Global Expertise, Nimble Execution

We believe our efficient, scalable size allows our team to identify and invest in attractive issues that can have a materials impact on portfolio performance. 

Focused on Consistent, Repeatable Results

We pursue excess returns over full market cycles by emphasizing risk management while seeking to capitalize on high-conviction opportunities.

Rooted in Active Management

We build portfolios bond-by-bond through in-depth proprietary research, seeking to avoid risks inherent in indexed strategies. 



Current Views & Insights

Global Bond Market Brief

Monthly view of interest rates, inflation, sectors, central bank policy and economic environment.

Read More 

Global Fixed Income Outlook

We unpack the latest developments to help investors navigate the global bond market.

Read More 



Investment Strategies

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Strategy in Focus: Short Duration Strategic Income

Seeking attractive income regardless of the interest rate environment.

 

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Municipal Bonds: Building Blocks for Diversified Portfolios

Helping address challenges many investors face today.

Learn More 


Fund Lineup


Major Role     ◼

Minor Role     ◻

U.S. Grade Investment Income-Focused Solutions Diversification Downside Risk Management Inflation Hedging Tax-Free Income
Zero Coupon 2025 Fund        
Short Term Government      
Government Bond      
Ginnie Mae      
Short Duration Inflation Protection      
Inflation-Adjusted Bond      
Short Duration      
Diversified Bond      
Core Plus      
Diversified Corp Bond ETF      

Global/ International Income-Focused Solutions Diversification Downside Risk Management Inflation Hedging Tax-Free Income
Global Bond      
International Bond      

Multi-Sector Income-Focused Solutions Diversification Downside Risk Management Inflation Hedging Tax-Free Income
Short Duration Strategic Income      
Multisector Income ETF      
Strategic Income      

Emerging Markets Income-Focused Solutions Diversification Downside Risk Management Inflation Hedging Tax-Free Income
Emerging Markets Debt      
Emerging Markets Bond ETF      


High Yield Income-Focused Solutions Diversification Downside Risk Management Inflation Hedging Tax-Free Income
High Income        
High Yield        

Municipal Securities Income-Focused Solutions Diversification Downside Risk Management Inflation Hedging Tax-Free Income
California High Yield Municipal      
California Intermediate-Term Tax-Free      
Diversified Muni Bond ETF      
High-Yield Municipal      
Intermediate-Term Tax-Free Bond      


Investment Philosophy

We believe consistently strong risk-adjusted results can be achieved through a diversity of active positions that seek to exploit inherent inefficiencies in the bond market. We rely on the power of fundamental research –augmented by quantitative methodologies – to seek consistent excess returns over a full market cycle. 

Investment Process

We pursue these opportunities by following a systematic, repeatable process that’s driven by fundamental research. This research-driven approach is complemented by proprietary quantitative models and tools designed to increase the team’s efficiency.


Outlook
Integrates analysis of economy, markets and policies to establish top-down views on global economic growth, inflation, central bank policies, and interest rates

Asset Allocation
Considers economic fundamentals and technical rich/cheap sector analysis to determine relative value
Expected return scenario calculations converted to information ratios and ranked by relative attractiveness

Security Selection
Analysts identify attractive issues through deep fundamental research based on sector-specific analytic frameworks
Portfolio managers, analysts and traders collaborate to manage sector exposures, issuer weights and security selection

Risk Management
Risk Management team independently reviews portfolio holdings’ compliance with risk budgets
Proprietary tools help test and monitor portfolio exposures, apply scenario analysis and evaluate potential trades

 



Investment Team

Co-CIOs


Global Fixed Income Investment Committee

Senior leaders set outlook for global economic growth, interest rates, yield curve, inflation and the risk environment


Sector-Aligned Teams

Rates & Currencies • Government Securities • Corporate Credit • Securitized Credit • Municipals • Emerging Markets • Cash/Cash Equivalents

Portfolio Managers

Analysts

Risk Management


49
investment professionals

22
years average industry experience

12
years average team collaboration

44%
diverse team across gender and ethnicity

$45.2
billion in assets under management

Source: American Century Investments. All data as of 9/30/2021





Contact us for more information about our fixed income capabilities

Exchange Traded Funds (ETFs) are bought and sold through exchange trading at market price (not NAV), and are not individually redeemed from the fund. Shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns.

Investment return and principal value of security investments will fluctuate. The value at the time of redemption may be more or less than the original cost. Past performance is no guarantee of future results.

Diversification does not assure a profit nor does it protect against loss of principal.

The information is not intended as a personalized recommendation or fiduciary advice and should not be relied upon for, investment, accounting, legal or tax advice.

Mutual Funds: American Century Investment Services, Inc., Distributor.

Exchange Traded Funds (ETFs): Foreside Fund Services, LLC - Distributor, not affiliated with American Century Investments Services, Inc.