Fund Description

American Century California Long-Term Tax-Free Funds was incepted in November 1983 and is managed by American Century Investment Management. The objective of this fund is to seek safety of principal and high current income that is exempt from federal and California income taxes. The fund invests at least 80% of its assets in debt securities with interest payments exempt from federal and California income taxes. Cities, counties and other municipalities in California and U.S. territories, such as Puerto Rico, usually issue these securities for public projects, such as schools and roads. The fund offers dividends monthly. Capital gains are distributed in December.