Fund Facts  

Inception Date: Jul 8, 1998
CUSIP: 025076209
Ticker Symbol: ACIIX
Morningstar Category:Large Value
As of Sep 30, 2017
Fund Net Assets ($millions) $12,459

Documents for Fund or Underlying Fund(s)  

Description

Objective  

The investment seeks current income; capital appreciation is a secondary objective.

Principal Investment Strategies  

The portfolio managers look for equity securities of companies with a favorable income-paying history that have prospects for income payments to continue or increase. The portfolio managers also look for equity securities of companies that they believe are undervalued and have the potential for an increase in price. The fund may invest a portion of its assets in foreign securities when these securities meet the portfolio managers' standards of selection.

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. Please see the Fund’s prospectus or other disclosure documents for information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Sep 30, 2017
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
American Century® Equity Inca3.50%9.45%14.05%11.24%12.22%7.30%8.88%
Russell 3000 Value Indexa,b3.27%7.72%15.53%8.79%13.20%6.01%N/A
Morningstar Large Valuea,c3.80%9.41%16.17%7.99%12.23%5.72%N/A

Fund past performance, as shown, is no guarantee of how the Fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, visit www.icmarc.org.

Fund performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.

Fund Expensesa
Gross Expenses0.73%
Net Expenses0.73%

 

a. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2017 All rights reserved. This information: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar and/or its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.

b. The Russell 3000® Value Index measures the performance of those Russell 3000® Index companies with lower price-to-book ratios and lower forecasted growth values. The stocks in this index are also members of either the Russell 1000® Value or the Russell 2000® Value indexes.

c. The Morningstar category represents the average return for a category of funds with similar investment objectives and strategies. The average is calculated and funds are assigned to a category by Morningstar.

Distributions

Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Sep 19, 2017Sep 19, 2017$0.042700000
Jun 20, 2017Jun 20, 2017$0.056900000
Mar 21, 2017Mar 21, 2017$0.029700000
Dec 27, 2016Dec 27, 2016$0.059800000
Dec 13, 2016Dec 13, 2016$0.522300000
Sep 20, 2016Sep 20, 2016$0.042600000
Jun 21, 2016Jun 21, 2016$0.056300000
Mar 15, 2016Mar 15, 2016$0.031000000
Dec 28, 2015Dec 28, 2015$0.072700000
Dec 8, 2015Dec 8, 2015$0.631600000
Sep 8, 2015Sep 8, 2015$0.058900000
Jun 9, 2015Jun 9, 2015$0.056700000
Mar 10, 2015Mar 10, 2015$0.031600000
Dec 23, 2014Dec 23, 2014$0.071200000
Dec 9, 2014Dec 9, 2014$0.662000000
Sep 9, 2014Sep 9, 2014$0.054300000
Jun 10, 2014Jun 10, 2014$0.078400000
Mar 11, 2014Mar 11, 2014$0.031600000
 

Morningstar Information

Morningstar RatingTM   As of Sep 30, 2017
Period Stars Category Size
Overall 4 Stars1108
3-Year 5 Stars1108
5-Year 3 Stars962
10-Year 5 Stars689

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange–traded funds, closed–end funds, and separate accounts) with at least a three–year history. Exchange–traded funds and open–ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk–Adjusted Return measure that accounts for variation in a managed product′s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three–, five–, and 10–year (if applicable) Morningstar Rating metrics. The weights are: 100% three–year rating for 36–59 months of total returns, 60% five–year rating⁄40% three–year rating for 60–119 months of total returns, and 50% 10–year rating⁄30% five–year rating⁄20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Morningstar Stylebox As of Sep 30, 2017
Equity Stylebox
Large Value
Allocation of Assets As of Jun 30, 2017
Type of Asset Percent
Equity84%
Fixed Income13%
Cash/Other4%

Due to rounding, percentages shown may not add up to 100%.

 
 

Characteristics

Allocation of Assets As of Jun 30, 2017
Asset ClassPercent
Domestic Stock75.4%
Foreign Stock8.6%
Domestic Bond5.4%
Foreign Bond0.0%
Preferred2.4%
Convertible4.6%
Cash2.9%
Other0.6%

Due to rounding, percentages shown may not add up to 100%.

 
Equity Sector As of Jun 30, 2017
SectorPercent
Financial Services16.8%
Energy13.7%
Healthcare12.3%
Consumer Defensive10.1%
Industrials9.3%
Utilities7.7%
Technology5.0%
Basic Materials3.1%
Consumer Cyclical2.3%
Communication Services2.2%
Real Estate0.7%

Exposure reflects equity securities only and will sum to the equity exposure of the fund.

 
Top Ten Holdings As of Jun 30, 2017
Holding NamePercent
iShares Russell 1000 Value ETF4.9%
Procter & Gamble Co4.8%
Johnson & Johnson4.7%
Total SA2.9%
General Elec FRN2.7%
Republic Services Inc Class A2.5%
JPMorgan Chase & Co2.5%
Schlumberger Ltd2.4%
PNC Financial Services Group Inc2.4%
Roche Holding AG Dividend Right Cert.2.4%
 

Statistics

Portfolio Statistics As of Sep 30, 2017
Statistic3-Year5-Year
Beta0.630.65
Alpha5.143.29
Standard Deviation7.247.15
 
 

Footnotes

1.

American Century® is a registered trademark of American Century Services Corporation.

2.

Please read the fund's prospectus carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus before investing. You may contact us to obtain a prospectus or to answer questions by calling 800-669-7400, emailing investorservices@icmarc.org, or visiting www.icmarc.org.

The source for this information is Morningstar, Inc. Copyright © 2017 Morningstar, Inc.® All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Morningstar, Inc. is a global investment research firm that is not affiliated with ICMA-RC. ICMA-RC does not independently verify Morningstar data.

Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.