AMERICAN CENTURY LAUNCHES CALIFORNIA MUNICIPAL BOND ETF

KANSAS CITY, Mo., July 18, 2024 /PRNewswire/ -- American Century Investments, the $250 billion global asset manager*, expands its investment capabilities with the launch of its first California municipal bond exchange traded fund (ETF). American Century California Municipal Bond ETF (CATF)?is now listed on the New York Stock Exchange (NYSE) and joins the asset manager's lineup of active ETFs.

"American Century has managed municipal bonds for California investors for over 40 years and we're excited to leverage our deep history in California-specific strategies across the investment grade and high yield markets with the launch of CATF," said Joe Gotelli, senior portfolio manager, head of the Municipal Markets team. "We are driven by the needs of our clients and eager to provide an offering to California residents that takes advantage of opportunities across the credit and duration¹ spectrum."

California Municipal Bond ETF

CATF is actively managed and seeks high current income that is exempt from federal and California income taxes. The fund primarily invests in investment-grade debt securities but may invest in high-yield securities. A high-yield security is one that has been rated below investment-grade or determined by the investment advisor to be of similar quality, including bonds that are in technical or monetary default. It has a gross expense ratio of 0.27%.

"CATF is a natural extension of our municipal bond offerings and complements our existing ETF, American Century Diversified Municipal Bond ETF (TAXF)," said Gotelli. "It utilizes the same team, philosophy and process that we employ across our California mutual funds with the benefits of the ETF vehicle."

The fund is managed by Gotelli and Portfolio Manager Alan Kruss. Gotelli and the Municipal Markets team are primarily based in California. The municipal bond team at American Century Investments oversees $8.2 billion in assets under management**.

American Century Investments introduced its ETF program in 2018. The comprehensive ETF lineup is designed to help investors seek better outcomes across market cycles.

About American Century Investments

American Century Investments is a leading global asset manager focused on delivering investment results and building long-term client relationships while supporting breakthrough medical research. Founded in 1958, American Century Investments' 1,400 employees serve financial professionals, institutions, corporations and individual investors from offices in Kansas City, Mo.; New York; Los Angeles; Santa Clara, Calif.; Portland, Ore.; London; Frankfurt, Germany; Hong Kong; and Sydney. Jonathan S. Thomas is president and chief executive officer, and Victor Zhang serves as chief investment officer. Delivering investment results to clients enables American Century Investments to distribute over 40% of its dividends to the Stowers Institute for Medical Research, a 500-person, nonprofit basic biomedical research organization. The Institute owns more than 40% of American Century Investments and has received dividend payments of more than $2 billion since 2000. For more information about American Century Investments, visit www.americancentury.com.

*Assets under supervision as of 7/4/2024.

**Assets under management as of 7/10/24.

Exchange Traded Funds (ETFs) are bought and sold through exchange trading at market price (not NAV), and are not individually redeemed from the fund. Shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns.

This fund is an actively managed ETF that does not seek to replicate the performance of a specified index. To determine whether to buy or sell a security, the portfolio managers consider, among other things, various fund requirements and standards, along with economic conditions, alternative investments, interest rates and various credit metrics. If the portfolio manager considerations are inaccurate or misapplied, the fund's performance may suffer.

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

Because the fund invests primarily in California municipal securities, its yield and share price will be affected by political and economic developments within the State of California.

There is no guarantee that all of the fund's income will be exempt from federal, California state or local income taxes. The portfolio managers are permitted to invest the fund's assets in debt securities with interest payments that are subject to federal income tax, California state tax, local income tax and/or the federal alternative minimum tax. Capital gains are not exempt from state and federal income tax.

The lower rated securities in which the fund may invest in are subject to greater credit risk, default risk and liquidity risk.

Generally, as interest rates rise, the value of the bonds held in the fund will decline. The opposite is true when interest rates decline.

Exchange Traded Funds (ETFs): Foreside Fund Services, LLC ? Distributor, not affiliated with American Century Investment Services, Inc.?

Mutual Funds: American Century Investment Services, Inc., Distributor.

?2024 American Century Proprietary Holdings, Inc. All rights reserved.?

¹ The duration of a financial asset that consists of fixed cash flows, such as a bond, is the weighted average of the times until those fixed cash flows are received.

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SOURCE American Century Investments