# EDGAR Filing Document

**Accession Number:** 0000924211
**File Stem:** 0000924211-25-000025
**Filing Date:** 2025-11
**Character Count:** 31468
**Document Hash:** f4471aa75cfa6b07c4b0c8a83088206c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000924211-25-000025.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0000924211-25-000025

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**EFFECTIVENESS DATE**: 20251126

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMERICAN CENTURY STRATEGIC ASSET ALLOCATIONS INC
- **CENTRAL INDEX KEY:** 0000924211

**ORGANIZATION NAME:**
- **EIN:** 431677617
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-79482
- **FILM NUMBER:** 251528692

**BUSINESS ADDRESS:**
- **STREET 1:** 4500 MAIN STREET
- **CITY:** KANSAS CITY
- **STATE:** MO
- **ZIP:** 64111
- **BUSINESS PHONE:** 816-531-5575

**MAIL ADDRESS:**
- **STREET 1:** 4500 MAIN STREET
- **CITY:** KANSAS CITY
- **STATE:** MO
- **ZIP:** 64111

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TWENTIETH CENTURY STRATEGIC PORTFOLIOS INC /MO/
- **DATE OF NAME CHANGE:** 19951130

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TWENTIETH CENTURY INSTITUTIONAL PORTFILIOS INC
- **DATE OF NAME CHANGE:** 19940531

## Series and Classes Contracts Data

### STRATEGIC ALLOCATION: AGGRESSIVE FUND (Series ID: S000005931)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000016318 | R CLASS        | AAARX           |
| C000016319 | INVESTOR CLASS | TWSAX           |
| C000016320 | A CLASS        | ACVAX           |
| C000016321 | I CLASS        | AAAIX           |
| C000016324 | C CLASS        | ASTAX           |
| C000131619 | R6 CLASS       | AAAUX           |
| C000189654 | R5 CLASS       | ASAUX           |

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| | | | |
|:---|:---|:---|:---|
| **Summary Prospectus&nbsp;&nbsp;&nbsp;&nbsp;** December 1, 2025<br>**American Century Investments**<sup>®</sup><br>**Strategic Allocation: Aggressive Fund** | **Summary Prospectus&nbsp;&nbsp;&nbsp;&nbsp;** December 1, 2025<br>**American Century Investments**<sup>®</sup><br>**Strategic Allocation: Aggressive Fund** | **Summary Prospectus&nbsp;&nbsp;&nbsp;&nbsp;** December 1, 2025<br>**American Century Investments**<sup>®</sup><br>**Strategic Allocation: Aggressive Fund** | ![newaci_logoblkg45.jpg](newaci_logoblkg45.jpg) |
| **Investor Class:** TWSAX<br>**I Class:** AAAIX | **A Class:** ACVAX<br>**C Class:** ASTAX | **R Class:** AAARX<br>**R5 Class:** ASAUX | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R6 Class:** AAAUX |

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| | |
|:---|:---|
| Before you invest, you may want to review the fund's prospectus, which contains more information about the fund and its risks. You can find the fund's prospectus, reports to shareholders, and other information about the fund online at the web addresses listed below. You can also get this information at no cost by calling or sending an email request. The fund's prospectus and other information are also available from financial intermediaries (such as banks and broker-dealers) through which shares of the fund may be purchased or sold. | Before you invest, you may want to review the fund's prospectus, which contains more information about the fund and its risks. You can find the fund's prospectus, reports to shareholders, and other information about the fund online at the web addresses listed below. You can also get this information at no cost by calling or sending an email request. The fund's prospectus and other information are also available from financial intermediaries (such as banks and broker-dealers) through which shares of the fund may be purchased or sold. |
| **Retail Investors**<br>americancentury.com/docs<br>1-800-345-2021 or 816-531-5575<br>prospectus@americancentury.com | **Financial Professionals**<br>americancentury.com/fadocs<br>1-800-345-6488<br>advisor_prospectus@americancentury.com |
| This summary prospectus incorporates by reference the fund's <u>[prospectus and statement of additional information](https://www.sec.gov/Archives/edgar/data/924211/000092421125000021/ck0000924211-20251126.htm)</u> (SAI), each dated December 1, 2025 (as supplemented at the time you receive this summary prospectus), as well as the Report of Independent Registered Public Accounting Firm and the financial statements included in the fund's <u>[Form N-CSR](https://www.sec.gov/ix?doc=/Archives/edgar/data/0000924211/000092421125000009/ck0000924211-20250731.htm)</u> for the fiscal year ended July 31, 2025. The fund's SAI and Form N-CSR may be obtained, free of charge, in the same manner as the prospectus. | This summary prospectus incorporates by reference the fund's <u>[prospectus and statement of additional information](https://www.sec.gov/Archives/edgar/data/924211/000092421125000021/ck0000924211-20251126.htm)</u> (SAI), each dated December 1, 2025 (as supplemented at the time you receive this summary prospectus), as well as the Report of Independent Registered Public Accounting Firm and the financial statements included in the fund's <u>[Form N-CSR](https://www.sec.gov/ix?doc=/Archives/edgar/data/0000924211/000092421125000009/ck0000924211-20250731.htm)</u> for the fiscal year ended July 31, 2025. The fund's SAI and Form N-CSR may be obtained, free of charge, in the same manner as the prospectus. |

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**Investment Objective**

The fund is an asset allocation fund. That is, it diversifies its assets among various classes of investments such as equity securities, bonds and money market instruments. The fund seeks the highest level of total return consistent with its asset mix.

**Fees and Expenses**

The following table describes the fees and expenses you may pay if you buy, hold and sell shares of the fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in American Century Investments funds. More information about these and other discounts is available from your financial professional and in *Calculation of Sales Charges* on page 26 of the fund's prospectus, *Appendix A* of the fund's prospectus and *Sales Charges* in *Appendix B* of the statement of additional information.

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Shareholder Fees** (fees paid directly from your investment) | **Shareholder Fees** (fees paid directly from your investment) | **Shareholder Fees** (fees paid directly from your investment) | **Shareholder Fees** (fees paid directly from your investment) | **Shareholder Fees** (fees paid directly from your investment) | **Shareholder Fees** (fees paid directly from your investment) | **Shareholder Fees** (fees paid directly from your investment) | **Shareholder Fees** (fees paid directly from your investment) |
|  | *Investor* | *I* | *A*  | *C*  | *R*  | *R5*  | *R6*  |
| Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) |  |  | 5.75% |  |  |  |  |
| Maximum Deferred Sales Charge (Load) (as a percentage of the lower of the original offering price or redemption proceeds when redeemed within one year of purchase) |  |  | None¹ | 1.00% |  |  |  |
| Maximum Annual Account Maintenance Fee<br>(waived if eligible investments total at least $25,000 or shareholder has elected electronic delivery) | $25 |  |  |  |  |  |  |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Annual Fund Operating Expenses** (expenses that you pay each year as a percentage of the value of your investment) | **Annual Fund Operating Expenses** (expenses that you pay each year as a percentage of the value of your investment) | **Annual Fund Operating Expenses** (expenses that you pay each year as a percentage of the value of your investment) | **Annual Fund Operating Expenses** (expenses that you pay each year as a percentage of the value of your investment) | **Annual Fund Operating Expenses** (expenses that you pay each year as a percentage of the value of your investment) | **Annual Fund Operating Expenses** (expenses that you pay each year as a percentage of the value of your investment) | **Annual Fund Operating Expenses** (expenses that you pay each year as a percentage of the value of your investment) | **Annual Fund Operating Expenses** (expenses that you pay each year as a percentage of the value of your investment) |
|  | *Investor* | *I* | *A*  | *C*  | *R*  | *R5* | *R6*  |
| Management Fee | 1.15% | 0.95% | 1.15% | 1.15% | 1.15% | 0.95% | 0.80% |
| Distribution and Service (12b-1) Fees |  |  | 0.25% | 1.00% | 0.50% |  |  |
| Other Expenses | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
| Acquired Fund Fees and Expenses | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% |
| Total Annual Fund Operating Expenses | 1.33% | 1.13% | 1.58% | 2.33% | 1.83% | 1.13% | 0.98% |
| Fee Waiver<sup>2,3</sup> | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% |
| Total Annual Fund Operating Expenses After Fee Waiver | 0.79% | 0.59% | 1.04% | 1.79% | 1.29% | 0.59% | 0.44% |

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<sup>1&nbsp;&nbsp;&nbsp;&nbsp;</sup>*Purchases of $1 million or more may be subject to a contingent deferred sales charge of 1.00% if the shares are redeemed within one year of the date of the purchase.*

<sup>2&nbsp;&nbsp;&nbsp;&nbsp;</sup>*The advisor will waive a portion of the fund's management fee equal to the expenses attributable to the management fees of American Century advised underlying funds. The amount of this waiver will fluctuate depending on the fund's daily allocations to such funds. This waiver is expected to remain in effect permanently, and it cannot be terminated without the approval of the Board of Directors.*

<sup>3&nbsp;&nbsp;&nbsp;&nbsp;</sup>*The advisor also agreed to waive an additional 0.37 percentage points of the fund's management fee. The advisor expects this waiver to continue until November 30, 2026 and cannot terminate it prior to such date without the approval of the Board of Directors.*

**Example**

The example below is intended to help you compare the costs of investing in the fund with the costs of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods and that you earn a 5% return each year. The example also assumes that the fund's operating expenses remain the same, except that it reflects the rate and duration of any fee waivers noted in the table above. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | *1 year*  | *3 years*  | *5 years*  | *10 years*  |
| Investor Class | $81 | $332 | $603 | $1376 |
| I Class | $60 | $269 | $495 | $1144 |
| A Class | $675 | $962 | $1269 | $2138 |
| C Class | $182 | $642 | $1126 | $2270 |
| R Class | $132 | $488 | $868 | $1933 |
| R5 Class | $60 | $269 | $495 | $1144 |
| R6 Class | $45 | $222 | $414 | $968 |

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**Portfolio Turnover**

The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 60% of the average value of its portfolio.

**Principal Investment Strategies**

The fund's asset allocation strategy diversifies investments among equity securities, bonds and money market instruments. The fund seeks long-term capital growth with a small amount of regular income. It emphasizes investments in equity securities but maintains a portion of its assets in bonds and money market securities. The following table indicates the fund's neutral mix, that is, how the fund's investments generally will be allocated among the major asset classes over the long term. The table also shows the operating ranges within which the fund's asset mix generally will vary over short-term periods.

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| | | | |
|:---|:---|:---|:---|
|  | *Equity Securities*<br>*(Stocks)*  | *Fixed-Income or*<br>*Debt Securities (Bonds)*  | *Cash Equivalents*<br>*(Money Markets)*  |
| Neutral Mix | 79% | 20% | 1% |
| Operating Range | 60-90% | 10-30% | 0-15% |

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The fund may invest in any type of U.S. or foreign equity security that meets certain fundamental and technical standards. The portfolio managers draw on growth, value and quantitative investment techniques in managing the equity portion of the fund's portfolio, and they diversify the fund's equity investments among small, medium and large companies.

The fund also invests in a variety of debt securities payable in U.S. and foreign currencies. The fixed-income portion of the fund primarily invests in investment-grade debt securities. An investment-grade security is one that has been rated by at least one independent rating agency in its top four credit quality categories or determined by the advisor to be of comparable credit quality. However, the fund may invest up to 10% of its assets in below investment-grade securities (also known as high-yield securities or "junk bonds"). The fund may also invest in bank loans and collateralized debt obligations (including collateralized loan obligations).

To gain exposure to certain investment disciplines and categories, the fund may invest in varying combinations of affiliated investment companies (mutual funds and exchange-traded funds (ETFs) advised by American Century).

The fund also may invest in derivative instruments such as options, futures contracts, options on futures contracts, and swap agreements (including, but not limited to, credit default swap agreements), provided that such investments are in keeping with the fund's investment objective.

Responsibility for research, stock selection and portfolio construction for other portions of the fund has been allocated among portfolio teams representing various investment disciplines and strategies employed by other American Century funds.

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**Principal Risks**

• **Allocation Risk** — The fund's ability to achieve its investment objective depends in part on the portfolio managers' skill in determining the fund's asset class allocations and in selecting and weighting investments within each class. The portfolio managers' evaluations and assumptions regarding asset classes and investments may differ from actual market conditions.

• **Fund of Funds Risk** — The fund's performance and risks also reflect the performance and risks of the underlying funds in which it invests.

• **ETF Risk** — ETF shares are based on market price rather than net asset value (NAV), as a result, shares may trade at a price greater than NAV (a premium) or less than NAV (a discount). The fund may also incur brokerage commissions, as well as the cost of the bid/ask spread, when purchasing or selling ETF shares.

**• Small- and Mid-Cap Stock Risks** — Stocks of smaller companies can be more volatile than larger-company stocks. Smaller companies may have limited financial resources, product lines and markets, and their securities may trade less frequently and in more limited volumes than the securities of larger companies, which could lead to higher transaction costs. To the extent the fund invests in these companies, it may take on more risk.

• **"Growth" and "Value" Style Risks** — The fund employs a mix of investment styles, each of which has risks associated with it. Growth stocks can be volatile and may lack dividends that can cushion share prices during market declines. Value stocks may continue to be undervalued by the market for long periods of time.

• **Investment Process Risk** — Stocks selected by the portfolio managers using quantitative models may perform differently than expected due to the portfolio managers' judgments regarding the factors used in the models, the weight placed on each factor, changes from the factors' historical trends, and technical issues with the construction and implementation of the models (including, for example, data problems and/or software or other implementation issues). There is no guarantee that the use of the quantitative model will result in effective investment decisions for the fund. Additionally, the commonality of portfolio holdings across quantitative investment managers may amplify losses.

• **Interest Rate Risk** — Investments in debt securities are sensitive to interest rate changes. Generally, when interest rates rise, the value of debt securities and the funds that hold them will decline. A period of rising interest rates may negatively affect the fund's performance. The fund will also be exposed to interest rate risk outside of the U.S. where interest rate trends may differ.

• **Credit Risk** — Debt securities, even investment-grade debt securities, are subject to credit risk. Credit risk is the risk that the inability or perceived inability of the issuer to make interest and principal payments will cause the value of the securities to decrease. As a result, the fund's share price could also decrease. Changes in the credit rating of a debt security held by the fund could have a similar effect. To the extent that the fund invests in below investment-grade securities (high-yield securities or "junk bonds"), the fund takes on additional credit risk.

• **Counterparty Risk** — If the fund enters into financial contracts, the fund will be subject to the credit risk presented by the counterparties.

• **Liquidity Risk** — The fund may also be subject to liquidity risk. During periods of market turbulence or unusually low trading activity, in order to meet redemptions it may be necessary for the fund to sell securities at prices that could have an adverse effect on the fund's share price. The market for lower-quality debt securities is generally less liquid than the market for higher-quality securities. Changing regulatory and market conditions, including increases in interest rates and credit spreads, may adversely affect the liquidity of the fund's investments.

• **Prepayment and Extension Risk** — The fund may invest in debt securities backed by mortgages or other assets. If these underlying assets are prepaid, the fund may benefit less from declining interest rates than funds of similar maturity that invest less heavily in mortgage- and asset-backed securities. Conversely, an issuer may exercise its right to pay principal on an obligation held by the fund later than expected (extend the obligation) especially in periods of rising interest rates. These events may lengthen the maturity and potentially reduce the value of these securities.

• **Foreign Risk** — The fund may invest in foreign securities, which may be riskier than investing in U.S. securities. Securities of foreign issuers may be less liquid, more volatile and harder to value than U.S. securities. Fluctuations in currency exchange rates also may affect the fund's share price. Investing in securities of companies located in emerging market countries is generally riskier than investing in securities of companies located in developed foreign countries.

• **Bank Loan Risk** — The market for bank loans may not be highly liquid and the fund may have difficulty selling them. Bank loans may not be considered securities, thus the fund may not be afforded anti-fraud protections available under the federal securities laws. In connection with purchasing loan participations, the fund generally will have no right to enforce compliance by borrowers with loan terms nor any set off rights, and the fund may not benefit directly from any posted collateral. As a result, the fund may be subject to the credit risk of both the borrower and the lender selling the participation. Bank loan transactions may take more than seven days to settle, meaning that proceeds would be unavailable to make additional investments or meet redemptions.

• **Collateralized Obligations Risk** — Collateralized obligations such as collateralized loan obligations (CLOs) are subject to credit, interest rate, valuation, and prepayment and extension risks. These securities also are subject to risk of default on the underlying asset, particularly during periods of economic downturn. The market value of collateralized obligations may be affected by, among

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other things, changes in the market value of the underlying assets held by the collateralized obligations, changes in the distributions on the underlying assets, defaults and recoveries on the underlying assets, capital gains and losses on the underlying assets, prepayments on underlying assets and the availability, and prices and interest rates of underlying assets. Lower rated tranches of such debt are subject to a higher risk of total loss and deferral or nonpayment of interest than the more senior tranches to which they are subordinated. Some of the collateralized obligations in which the fund invests may be covenant-lite loans. Covenant-lite loans contain fewer or less restrictive constraints on the borrower. The fund may have fewer rights against a borrower and an accompanying greater risk of loss when it invests in covenant-lite loans.

• **Derivatives Risk** — The use of derivative instruments, such as futures, options and swaps, involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional instruments. Derivatives are subject to a number of risks, including leverage, liquidity, interest rate, market, credit, counterparty and correlation risk. Derivatives can be highly illiquid and difficult to unwind or value, and changes in the value of a derivative held by the fund may not correlate with the value of the underlying instrument or the fund's other investments. Gains or losses involving some futures, options and other derivatives may be substantial – in part because a relatively small price movement in these instruments may result in an immediate and substantial gain or loss for the fund. Derivatives used for hedging or risk management may not operate as intended, may expose the fund to other risks, and may be insufficient to protect the fund from the risks they were intended to hedge.

• **Market Risk** — The value of the fund's shares will go up and down based on the performance of the companies whose securities it owns and other factors generally affecting the securities market. Market risks, including political, regulatory, economic and social developments, can affect the value of the fund's investments. Natural disasters, public health emergencies, war, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.

• **Principal Loss Risk** — At any given time your shares may be worth less than the price you paid for them. In other words, it is possible to lose money by investing in the fund.

An investment in the fund is not a bank deposit, and it is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.

**Fund Performance**

The following bar chart and table provide some indication of the risks of investing in the fund. The bar chart shows changes in the fund's performance from year to year for Investor Class shares. The table shows how the fund's average annual returns for the periods shown compared with those of a broad measure of market performance. The fund's past performance (before and after taxes) is not necessarily an indication of how the fund will perform in the future. For current performance information, including yields, please visit americancentury.com.

Sales charges and account fees, if applicable, are not reflected in the bar chart. If those charges were included, returns would be less than those shown.

**Calendar Year Total Returns**

![chart-feb 79238daa44843abba.jpg](chart-feb 79238daa44843abba.jpg)

**Highest Performance Quarter (Q2 2020): 19.13%&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lowest Performance Quarter (Q1 2020): -18.47%**

**As of September 30, 2025, the most recent calendar quarter end, the fund's Investor Class year-to-date return was 13.47%.**

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| | | | | |
|:---|:---|:---|:---|:---|
| **Average Annual Total Returns**<br>*For the calendar year ended December 31, 2024* | *1 year*  | *5 years*  | *10 years*  | *Inception*<br>*Date*  |
| **Investor Class** Return Before Taxes | 13.06% | 8.45% | 7.96% | 02/15/1996 |
| &nbsp;&nbsp;&nbsp;Return After Taxes on Distributions | 11.15% | 6.59% | 5.83% | 02/15/1996 |
| &nbsp;&nbsp;&nbsp;Return After Taxes on Distributions and Sale of Fund Shares | 8.80% | 6.29% | 5.84% | 02/15/1996 |
| **I Class** Return Before Taxes | 13.16% | 8.64% | 8.17% | 08/01/2000 |
| **A Class** Return Before Taxes | 6.26% | 6.91% | 7.06% | 10/02/1996 |
| **C Class**<sup>1</sup> Return Before Taxes | 11.95% | 7.36% | 7.05% | 11/27/2001 |
| **R Class** Return Before Taxes | 12.47% | 7.89% | 7.41% | 03/31/2005 |
| **R5 Class**<sup>2</sup> Return Before Taxes | 13.30% | 8.66% | 8.17% | 04/10/2017 |
| **R6 Class** Return Before Taxes | 13.40% | 8.82% | 8.34% | 07/26/2013 |
| &nbsp;&nbsp;&nbsp;MSCI ACWI IMI<br>(reflects no deductions for fees, expenses or taxes) | 16.37% | 9.67% | 9.00% |  |
| Bloomberg U.S. Aggregate Bond Index<br>&nbsp;&nbsp;&nbsp;&nbsp;(reflects no deductions for fees, expenses or taxes) | 1.25% | -0.33% | 1.35% |  |

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<sup>1</sup>*&nbsp;&nbsp;&nbsp;&nbsp;C Class shares automatically convert to A Class shares after approximately eight years. All returns for periods greater than eight years reflect this conversion.*

<sup>2</sup>*&nbsp;&nbsp;&nbsp;&nbsp;Historical performance for the R5 Class prior to its inception is based on the performance of I Class shares, which have the same expenses as the R5 Class shares.*

The after-tax returns are shown only for Investor Class shares. After-tax returns for other share classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as 401(k) plans or IRAs.

**Portfolio Management**

**Investment Advisor**

American Century Investment Management, Inc.

**Portfolio Managers**

**Richard Weiss,** Chief Investment Officer - Multi-Asset Strategies, Senior Vice President and Senior Portfolio Manager, has been a member of the team that manages the fund since 2010.

**Brian L. Garbe,** Vice President and Senior Portfolio Manager, has been a member of the team that manages the funds since 2020. Mr. Garbe has announced his plans to retire. As a result, he will no longer serve as portfolio manager for the fund effective December 31, 2025.

**Radu Gabudean, Ph.D.,** Vice President and Senior Portfolio Manager, has been a member of the team that manages the fund since 2013.

**Vidya Rajappa, CFA,** Vice President and Senior Portfolio Manager, has been a member of the team that manages the fund since 2018.

**Scott Wilson**, **CFA,** Vice President and Portfolio Manager, has been a member of the team that manages the fund since 2006.

**Purchase and Sale of Fund Shares**

You may purchase or redeem shares of the fund on any business day through our website at americancentury.com, in person (at one of our Investor Centers), by mail (American Century Investments, P.O. Box 419200, Kansas City, MO 64141-6200), by telephone at 1-800-345-2021 (Investor Services Representative) or 1-800-345-3533 (Business, Not-For-Profit and Employer-Sponsored Retirement Plans), or through a financial intermediary. Shares may be purchased and redemption proceeds received by electronic bank transfer, by check or by wire.

Unless otherwise specified below, the minimum initial investment amount to open an account is $2,500 ($1,000 for Coverdell Education Savings Accounts and IRAs). However, American Century Investments will waive the fund minimum if you make an initial investment of at least $500 and continue to make automatic investments of at least $100 a month until reaching the fund minimum. Investors opening accounts through financial intermediaries may open an account with $250 for Investor, A, C and R Classes, but the financial intermediaries may require their clients to meet different investment minimums. The minimum may be waived for broker-dealer sponsored wrap program accounts, fee based accounts, and accounts through bank/trust and wealth management advisory organizations.

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The minimum initial investment amount for the I Class is generally $5 million ($3 million for endowments and foundations), but the minimum may be waived if you have an aggregate investment in the American Century family of funds of $10 million or more ($5 million for endowments and foundations). This includes accounts held directly with American Century and those held through a financial intermediary.

There is no minimum initial investment amount for R5 or R6 Class shares.

For the Investor, A, C, R, R5 and R6 Classes, there is no minimum initial investment amount for certain employer-sponsored retirement plans, however, financial intermediaries or plan recordkeepers may require plans to meet different minimums. Employer-sponsored retirement plans are not eligible to invest in the I Class.

There is a $50 minimum for subsequent purchases, except that there is no subsequent purchase minimum for financial intermediaries or employer-sponsored retirement plans.

**Tax Information**

Fund distributions are generally taxable as ordinary income or capital gains, unless you are investing through a tax-deferred account such as a 401(k) or individual retirement account (in which case you may be taxed upon withdrawal of your investment from such account).

**Payments to Broker-Dealers and Other Financial Intermediaries**

If you purchase the fund through a broker-dealer or other financial intermediary (such as a bank, insurance company, plan sponsor or financial professional), the fund and its related companies may pay the intermediary for the sale of fund shares and related services for investments in all classes except the R6 Class. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the fund over another investment. Ask your salesperson or visit your financial intermediary's website for more information.

<sup>©</sup>2025 American Century Proprietary Holdings, Inc. All rights reserved.

CL-SUM-91811 2512

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