You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text.

KANSAS CITY, Oct. 15, 2020 /PRNewswire/ -- On the heels of its September one-year anniversary, Avantis Investors, a $2 billion investment brand from global asset manager American Century Investments, today announced the launch of two new low-cost, broadly diversified fixed income exchange traded funds (ETFs): Avantis Core Fixed Income (AVIG) and Avantis Short-Term Fixed Income (AVSF). The new strategies, listed on the New York Stock Exchange (NYSE Arca, Inc.), are designed to seamlessly augment investors' asset allocation. "We're excited to announce an expansion of our investment capabilities into fixed income," said Eduardo Repetto, Avantis CIO. "Since we launched our equity strategies about a year ago, in every client conversation it is clear that investors want well-designed, low-cost solutions. Fixed income is an important part of an asset allocation, and we think our approach will resonate with investors." Both AVIG and AVSF will each have an expense ratio of 0.15%. The firm expects these strategies to be launched as mutual funds offered with an Institutional Class at the same total annual operating expense ratio shortly after the ETFs launch. The team also plans to expand its fixed income offerings into the municipal ETF and mutual fund space later this year. The funds invest primarily in investment grade quality debt obligations from a diverse group of U.S. and non-U.S. issuers. The funds' investment process uses an analytical framework, which includes an assessment of securities' expected income and capital appreciation, to seek securities with high expected returns.1 Like their equity ETF counterparts, these fixed income strategies are diversified, tax-efficient and cost-effective and they each rely on a proprietary systematic investment approach. AVIG and AVSF will be co-managed by Repetto, Senior Portfolio Manager Hozef Arif,Senior Portfolio Manager Mitchell Handaand Senior Portfolio Manager Daniel Ong, CFA. Arif and Handa both held portfolio management positions with Pacific Investment Management Company (PIMCO); Ong previously was a senior portfolio manager with Dimensional Fund Advisors (DFA). The two new fixed income funds join Avantis Investors' five inaugural equity exchange traded funds (ETFs), launched during September 2019, followed by five mutual funds that mirror the ETFs: Avantis International Small Cap Value ETF (AVDV), Avantis International Equity ETF (AVDE), Avantis Emerging Markets Equity ETF (AVEM), Avantis U.S. Equity ETF (AVUS) and Avantis U.S. Small Cap Value ETF (AVUV). Avantis Investors is led by Eduardo Repetto, chief investment officer, and Patrick Keating, chief operating officer. American Century Investments is a leading global asset manager focused on delivering investment results and building long-term client relationships while supporting research that can improve human health and save lives. Founded in 1958, American Century Investments' 1,400 employees serve investment professionals, institutions, corporations and individual investors from offices in New York; London; Hong Kong; Frankfurt, Germany; Sydney; Mountain View, Calif.; and Kansas City, Mo. 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 percent of its dividends to the Stowers Institute for Medical Research, a 500-person, non-profit basic biomedical research organization. The Institute owns more than 40 percent of American Century Investments and has received dividend payments of $1.6 billion since 2000. For more information about American Century Investments, visit www.americancentury.com You should consider the fund's investment objectives, risks, and charges and expenses carefully before you invest. The fund's prospectus or summary prospectus, which can be obtained by visiting www.AvantisInvestors.com or calling1-833-9AVANTIS, contains this and other information about the fund, and should be read carefully before investing. Investments are subject to market risk. 1Valuation theory shows that the expected return of a security is a function of its current price, its book equity (assets minus liabilities) and expected future profits. We use information in current market prices and company financials to identify differences in expected returns among securities, seeking to overweight securities with higher expected returns based on this current market information. Actual returns may be different than expected returns, and there is no guarantee that the strategy will be successful. Exchange Traded Funds (ETF) 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. International investing involves special risks, such as political instability and currency fluctuations. Investing in emerging markets may accentuate these risks. Historically, small- and/or mid-cap stocks have been more volatile than the stock of larger, more-established companies. Smaller companies may have limited resources, product lines and markets, and their securities may trade less frequently and in more limited volumes than the securities of larger companies. Generally, as interest rates rise, the value of the securities held in the fund will decline. The opposite is true when interest rates decline. 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. Investment return and principal value of security investments will fluctuate. The value at the time of redemption may be more or less than the original cost. Past performance is no guarantee of future results. Derivatives may be more sensitive to changes in market conditions and may amplify risks. 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. 2020 American Century Proprietary Holdings, Inc. All rights reserved. Contact: Laura Kouri (816) 516-7729 Media Line (816) 340-7033 SOURCE American Century Investments

Answer: Avantis Investors Launches Two Fixed Income ETFs