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Due to the acquisition of the NT High Income Fund on May 27, 2022, the High Income Fund has paid capital gains distributions in May of 2022. All earnings, including income and gains, were paid out prior to the merger to ensure both sets of shareholders involved in the merger receive the appropriate level of earnings. Note: This is typically an acceleration of the distributions that would occur in December, and the December distributions will be lower than they would have been due to the early payout ahead of the merger. Please refer to our Distributions page for more details.
Consists of an actively managed portfolio of high-yield corporate bonds that exhibit characteristics the manager believes will generate attractive yield and capital appreciation over time.
The veteran team seeks to identify companies they believe feature well-positioned product lines and experienced management teams that have generated strong free cash flow throughout the economic cycle.
The managers at Nomura Corporate Research and Asset Management (NCRAM) have demonstrated their ability to capitalize on a wide range of fixed income credits by opportunistically investing a portion of the portfolio’s assets outside the benchmark in categories such as bank loans and distressed debt.
The lower-rated debt securities in which the fund invests are subject to greater credit risk and liquidity risk. Credit risk is the risk that an obligation won’t be paid and a loss will result. Generally, a lower credit rating indicates a greater risk of non-payment. Liquidity risk is the risk that the fund will have difficulty selling its debt securities. Generally, as interest rates rise, the value of the securities held in the fund will decline. The opposite is true when interest rates decline. There is no guarantee that the investment objectives will be met. Dividends and yields represent past performance and there is no guarantee that they will continue to be paid.
Managing Director, Portfolio Manager
Executive Director, Portfolio Manager
President, Chief Executive Officer, Chief Investment Officer, and Managing Director
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The advisor has agreed to waive the G Class's management fee in its entirety. The advisor expects this waiver to remain in effect permanently and cannot terminate it without the approval of the Board of Trustees.
The fund acquired the assets and assumed the historical performance of the Nomura High Yield Fund, a series of The Advisors' Inner Circle Fund III (the "Predecessor Fund") on October 2, 2017. Accordingly, the performance shown for periods prior to October 2, 2017, represents the performance of Class I shares of the Predecessor Fund. The Predecessor Fund's returns have not been adjusted to reflect the fund's expenses. If the Predecessor Fund's performance information had been adjusted to reflect the fund's expenses, the performance may have been higher or lower for a given period depending on the expenses incurred by the Predecessor Fund's for that period.
The lower rated securities in which the fund invests are subject to greater credit risk, default risk and liquidity risk.
Credit risk is the risk that an obligation won't be paid and a loss will result. Generally, a lower credit rating indicates a greater risk of non-payment. Liquidity risk is the risk that the fund will have difficulty selling its debt securities.
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.
W2 Minimum initial investment is $1,000 for IRA and CESA accounts, and $2,500 for non-retirement accounts, but these minimums are waived with an initial investment of at least $500 per account and automatic investments of at least $100 per month. If your account balance falls below the minimum, or if you cancel your automatic monthly investment plan prior to reaching the minimum, American Century Investments may redeem the account and send the proceeds to you. Prior to doing so, we will notify you and give you 90 days to meet the minimum or reinstate your automatic monthly investment plan.
For detailed descriptions of indices or investing terms referenced above, refer to our glossary.
Source: Merrill Lynch, Pierce, Fenner & Smith Incorporated ("BofAML"), used with permission. BofAML PERMITS USE OF THE BofAML INDICES AND RELATED DATA ON AN "AS IS" BASIS, MAKES NO WARRANTIES REGARDING SAME, DOES NOT GUARANTEE THE SUITABILITY, QUALITY, ACCURACY, TIMELINESS, AND/OR COMPLETENESS OF THE BofAML INDICES OR ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM, ASSUMES NO LIABILITY IN CONNECTION WITH THE USE OF THE FOREGOING, AND DOES NOT SPONSOR, ENDORSE, OR RECOMMEND AMERICAN CENTURY INVESTMENT MANAGEMENT, INC., OR ANY OF ITS PRODUCTS OR SERVICES.
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