KANSAS CITY, Mo., June 26, 2013 - American Century Investments' One Choice Target Date Portfolios received a 5 or "excellent" overall rating in a new report analyzing target-date mutual funds and the asset management firms offering the popular retirement investment vehicles. Called "Popping the Hood VI, 2013 PDF" and released by BrightScope and Target Date Analytics, this is the fourth study in a row in which American Century Investments' target-date funds were among the highest rated. Also, in two of the last four reports, American Century Investments' funds garnered the top overall rating among all target-date series analyzed by the joint researchers.

BrightScope (www.brightscope.com Link to External Site) is a leading independent financial information and investment research firm, and Target Date Analytics (www.ontargetindex.com Link to External Site) is an independent provider of analysis, theory and benchmarking of target date funds. The researchers' "Popping the Hood" series of reports are designed to help defined contribution plan sponsors with due diligence responsibilities when selecting and monitoring target date funds.

"We designed the One Choice Target Date Portfolios to help investors build toward the retirement they envision, while attempting to reduce the chances their money will run short," said American Century Investments' Rich Weiss, senior vice president and senior portfolio manager on the One Choice Target Date Portfolios team. "American Century Investments has been consistently among the upper tier of target-date fund providers in the Popping the Hood study, which we believe underscores the effectiveness of our approach across a variety of market environments over multiple years."

The 2013 study uses a 1-to-5 rating scale where 1 is the lowest score (needs improvement) and 5 is best (excellent). In its analysis, BrightScope/Target Date Analytics reviewed five attributes of a target-date fund series: (1) company/organization, (2) strategy, (3) performance, (4) risk and (5) fees and expenses. Each fund series receives an overall number rating, as well as ratings on the individual categories.

For the new study, researchers analyzed 48 target-date fund series offered by 38 different fund companies, comprising 425 distinct target-date funds. Overall ratings were assigned to 43 fund series old enough to have at least three years of operating performance data. The study used 2012 performance data for the lowest price share class offered by each fund family, typically the institutional share class.

One Choice Target Date Portfolios received a 5 (excellent) for its overall rating, as well as a 5 for "company/organization" and "performance." The fund series garnered a 4 rating for "fees and expenses" and "risk," and a 3 for "strategy."

In its commentary about the One Choice Portfolios, BrightScope/Target Date Analytics wrote: "American Century® One Choice Portfolios continue to turn in top overall results, earning an Overall '5' this year. First introduced in 2004, this fund family now has 8 years1 of return history." The researchers also concluded: "The American Century One Choice Portfolios also scored at the top in our last three comprehensive studies, Popping the Hood III, IV and V, with data through December 31, 2007, December 31, 2010 and December 31, 2011 respectively. They have a very solid offering, and with so much going for them, it is easy to see how they have grown their assets under management to over $7 billion2. We think more plan sponsors and consultants should be giving American Century a look."

A One Choice Portfolio's target date is the approximate year when investors plan to retire or start withdrawing their money. The principal value of the investment is not guaranteed at any time, including at the target date. Each target-date portfolio seeks the highest total return consistent with its asset mix. Over time, the asset mix and weightings are adjusted to be more conservative. In general, as the target year approaches, the portfolio's allocation becomes more conservative by decreasing the allocation to stocks and increasing the allocation to bonds and money market instruments.

American Century Investments is a leading privately held investment management firm, committed to delivering superior investment performance and building long-term client relationships since 1958. Serving investment professionals, institutions, corporations and individual investors, American Century Investments offers a variety of actively managed investment disciplines through an array of products including mutual funds, institutional separate accounts, commingled trusts and sub-advisory accounts.

The company's 1,300 employees serve clients from offices in New York; London; Hong Kong; Mountain View, Calif. and Kansas City, Mo. James E. Stowers Jr. is founder of the company, Jonathan S. Thomas is president and chief executive officer. Through its ownership structure, more than 40 percent of American Century Investments' profits support research to help find cures for genetically-based diseases including cancer, diabetes and dementia.

1Not all One Choice Target Date Portfolios have eight years of performance history.
2One Choice Target Date Portfolios assets under management were $8 billion as of May 31, 2013.

Study distributed with permission for American Century Investments by Target Date Analytics, LLC and BrightScope, Inc. Reprinted format may be different from original publication.

You should consider the fund's investment objectives, risks, and charges and expenses carefully before you invest. The fund's prospectus or summary prospectus, which can be obtained at americancentury.com, contains this and other information about the fund, and should be read carefully before investing.

Past performance is no guarantee of future results. Investment return and fund share value will fluctuate and it is possible to lose money by investing in these funds.

The BrightScope and Target Date Analytics "Popping the Hood VI, 2013" study grades target date mutual fund families on five criteria, including performance, fees, risk, organizational structure and strategy. The Overall Score for each fund family is simply the product of the scores of the five major components, weighted as follows: Company/Organization: 10%; Strategy: 15%; Performance: 30%; Risk: 25%; Fees: 20%. Each fund series receives an overall score and ranking. Researchers analyzed 48 fund companies, but ranked only 43; those were the fund series old enough to have three years of operating performance data. The study uses 2012 performance data. The study is based on the lowest price share class offered by each fund family, typically the institutional share class. The investor class, A, C, and R share classes are subject to higher expenses. Please consult the prospectus for the eligibility for each specific share class. The study is conducted on an annual basis and a new study will be available in June 2014.

The performance of the One Choice Target Date Portfolio portfolios is dependent on the performance of their underlying American Century Investments funds and will assume the risks associated with these funds. The risks will vary according to each portfolio's asset allocation, and a fund with a later target date is expected to be more volatile than one with an earlier target date.

A One Choice Target Date Portfolio's target date is the approximate year when investors plan to retire or start withdrawing their money. The principal value of the investment is not guaranteed at any time, including at the target date. By the time each fund reaches its target year, its target asset mix will become fixed and will match that of One Choice In Retirement Portfolio.

American Century Investment Services, Inc., Distributor
©2013 American Century Proprietary Holdings, Inc.