The fund was incepted in March 1993 and is managed by American Century Investment Management, Inc. The fund's main objective is to seek current income and long term capital growth. This fund mainly invests 80% of its assets in stocks of companies engaged in the utilities industry. Within this 80% category, the managers will not buy shares of a company unless 50% or more of the company's revenues or net profits come from the ownership or operation of facilities used to provide electricity, natural gas, telecommunications services, cable television, water or sanitary services. The fund may also invest up to 20% of its total assets in fixed-income securities. Dividends, if any, are distributed quarterly. Capital gains, if any, are generally paid in March and December.