Principal Investment Strategies
The fund will generally invest in larger-sized companies using a quantitative model that combines fundamental measures of a stock’s value and growth potential. To measure value, the managers may use ratios of stock price-to-earnings and stock price-to-cash flow, among others. To measure growth, the managers may use the rate of growth of a company’s earnings and cash flow and changes in its earnings estimates, as well as other factors. The model also considers price momentum. The portfolio managers attempt to build a portfolio of stocks that provides better returns than, and a dividend yield comparable to, the S&P 500
®
Index, without taking on significant additional risk.
Under normal market conditions, the fund will invest at least 80% of its assets in equity securities.
When determining whether to sell a security, the portfolio managers consider among other things, a security’s price, whether a security’s risk parameters outweigh its return opportunities, general market conditions and any other factor deemed relevant by the portfolio managers.
Fund Performance
The following bar chart and table provide some indication of the risks of investing in the fund. The bar chart shows changes in the fund’s performance from year to year for A Class shares. The table shows how the fund’s average annual returns for the periods shown compared with those of a broad measure of market performance. The fund’s past performance (before and after taxes) is not necessarily an indication of how the fund will perform in the future. For current performance information, please visit americancentury.com.
Sales charges and account fees, if applicable, are not reflected in the bar chart. If those charges were included, returns would be less than those shown.
Calendar Year Total Returns
|
Highest Performance Quarter
(3Q 2009): 15.47%
Lowest Performance Quarter
(4Q 2008): -20.53%
|
Average Annual Total Returns
|
|
|
|
|
For the calendar year ended December 31, 2012
|
1 year
|
5 years
|
Since Inception
|
Inception Date
|
A Class
Return Before Taxes
|
8.42%
|
0.08%
|
5.88%
|
11/30/2004
|
Return After Taxes on Distributions
|
8.22%
|
-0.08%
|
5.49%
|
11/30/2004
|
Return After Taxes on Distributions and Sale of Fund Shares
|
5.74%
|
0.04%
|
4.96%
|
11/30/2004
|
B Class
Return Before Taxes
|
10.10%
|
0.31%
|
5.85%
|
11/30/2004
|
C Class
Return Before Taxes
|
14.18%
|
0.50%
|
5.86%
|
11/30/2004
|
R Class
Return Before Taxes
|
14.72%
|
1.00%
|
5.78%
|
07/29/2005
|
Investor Class
Return Before Taxes
|
15.24%
|
1.51%
|
6.32%
|
07/29/2005
|
Institutional Class
Return Before Taxes
|
15.46%
|
1.72%
|
6.53%
|
07/29/2005
|
S&P 500
®
Index
(reflects no deduction for fees, expenses or taxes)
|
16.00%
|
1.66%
|
4.61%
|
11/30/2004
|
The after-tax returns are shown only for A Class shares. After-tax returns for other share classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as 401(k) plans or IRAs.
Investment Advisor
American Century Investment Management, Inc.
Portfolio Managers
Gregory J. Woodhams
, CFA, Chief Investment Officer, U.S. Growth Equity – Large Cap, Senior Vice President and Senior Portfolio Manager, has been a member of the team that manages the fund since 2008.
E. A. Prescott LeGard
, CFA, Vice President and Senior Portfolio Manager, has been a member of the team that manages the fund since 2008.
Justin M. Brown
, CFA, Vice President and Portfolio Manager, has been a member of the team that manages the fund since 2008.
Joseph Reiland
, CFA, Vice President and Portfolio Manager, has been a member of the team that manages the fund since 2008.
Purchase and Sale of Fund Shares
You may purchase or redeem shares of the fund on any business day through our website at americancentury.com, in person (at one of our Investor Centers), by mail (American Century Investments, P.O. Box 419200, Kansas City, MO 64141-6200), by telephone at 1-800-345-2021 (Investor Services Representative) or 1-800-345-3533 (Business, Not-For-Profit and Employer-Sponsored Retirement Plans), or through a financial intermediary. Shares may be purchased and redemption proceeds received by electronic bank transfer, by check or by wire.
Unless otherwise specified below, the minimum initial investment amount to open an account is $2,500 ($2,000 for Coverdell Education Savings Accounts). Investors opening accounts through financial intermediaries may open an account with $250 for all classes except Institutional Class, but the financial intermediaries may require their clients to meet different investment minimums. The minimum may be waived for broker-dealer sponsored wrap program accounts, fee based accounts, and accounts through bank/trust and wealth management advisory organizations or certain employer-sponsored retirement plans.
The minimum initial investment amount for Institutional Class is generally $5 million ($3 million for endowments and foundations), but the minimum may be waived if you, or your financial intermediary if you invest through an omnibus account, have an aggregate investment in the American Century family of funds of $10 million or more.
There is a $50 minimum for subsequent purchases, except that there is no subsequent purchase minimum for financial intermediaries or employer-sponsored retirement plans. For purposes of fund minimums, employer-sponsored retirement plans do not include SEP IRAs, SIMPLE IRAs or SARSEPs.
Tax Information
Fund distributions are generally taxable as ordinary income or capital gains, unless you are investing through a tax-deferred account such as a 401(k) or individual retirement account.
Payments to Broker-Dealers and Other Financial Intermediaries
If you purchase the fund through a broker-dealer or other financial intermediary (such as a bank, insurance company, plan sponsor or financial professional), the fund and its related companies may pay the intermediary for the sale of fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the fund over another investment. Ask your salesperson or visit your financial intermediary’s website for more information.
©2013 American Century Proprietary Holdings, Inc. All rights reserved.
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