Fund Description

The fund is a fund of funds, meaning it seeks to achieve its objective by investing in other American Century mutual funds (the underlying funds) that represent a variety of asset classes and investment styles. Underlying stock funds use growth, value and quantitative techniques across small-, mid- and large-cap U.S. and foreign companies. Underlying bond funds invest across corporate and government issuers, investment-grade and high-yield securities, and domestic and international markets. Short-term investments include underlying fixed-income or debt funds with shorter weighted average duration, typically three years or less. The fund's investments generally will be allocated among major asset classes according to a neutral mix expected to remain fixed over time; the portfolio managers regularly review allocations to determine whether rebalancing is appropriate, may make modest deviations from the neutral mix in light of prevailing market conditions, and may modify the neutral mix and underlying funds from time to time.