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One Fund, Global Diversification. Global Allocation Fund is designed to help investors build and preserve capital with a single fund that’s diversified globally across traditional stocks and bonds and a range of alternative investments.

/sd/customer/portfolio_json 1.800.345.2021

Data reflects past performance for Investor Class shares, 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 month end. For additional share class information, consult the prospectus.

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A
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.
C

Expense ratios provided are the funds' total annual operating expense ratios, gross of any fee waivers or expense reimbursements. Expense ratios are as of the funds' most current prospectus.

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 allocations to other American Century funds. This waiver is expected to remain in effect permanently. The advisor has also agreed to waive an additional 0.24% of the management fee, which is expected to continue until March 31, 2015, and cannot be terminated without the approval of the board of directors.

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30-Day SEC Yield (Subsidized/Unsubsidized): Represents net investment income earned by a fund over a 30-day period, expressed as an annual percentage rate based on the fund's share price at the end of the 30-day period. Subsidized yield reflects fee waivers and/or expense reimbursements during the period. Without waivers and/or reimbursements, yields would be reduced. Unsubsidized yield does not adjust for any fee waivers and/or expense reimbursements in effect.

Calendar Year Returns

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The value and/or returns of a portfolio will fluctuate with market and economic conditions. International investing involves special risk considerations, including economic and political conditions, inflation rates and currency fluctuations. The fund's investments in fixed income securities are subject to the risks associated with debt securities including credit, price and interest rate risk. The performance of the portfolio is partially dependent on the performance of the underlying American Century Investments' funds and will assume the risks associated with these funds.

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

Historically, small- and/or mid-cap stocks have been more volatile than the stock of larger, more-established companies. Smaller companies may have limited resources, product lines and markets, and their securities may trade less frequently and in more limited volumes than the securities of larger companies.

W2 If your account falls below the minimum balance, you will be notified and given 90 days to meet the minimum. If the deadline is not met, American Century Investments may redeem the shares in the account and send the proceeds to the address of record.

For detailed descriptions of indices or investing terms referenced above, refer to our glossary.

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Quick Facts

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Distribution