American Century Investments® Files for Semi-Transparent ETFs

May 21, 2019 - Kansas City, Mo.

Global asset management firm American Century Investments today announced it has filed for exemptive relief for actively managed, semi-transparent exchange-traded funds (ETFs) that will utilize Precidian Investments' ActiveShares® methodology. The structure will allow American Century Investments to deliver its time-tested actively-managed investment strategies in these ETF vehicles without the daily holdings disclosure requirement of fully transparent ETFs.

"We're pleased that we'll be able to offer our clients another way to access our time-tested investment expertise with the tax advantages inherent in ETFs," said Edward Rosenberg, senior vice president and head of ETFs for American Century Investments.

American Century Investments joined JP Morgan Asset Management, BlackRock, Capital Research, Legg Mason, ClearBridge, Royce and Nationwide in licensing Precidian's intellectual property. Precidian's ActiveShares® structure seeks to combine the most beneficial aspects of the traditional mutual fund with the efficiencies and flexibilities of an ETF. Precidian's patented ETF structure seeks to provide asset managers with the ability to generate excess return without daily disclosure of their proprietary strategies while simultaneously creating significant improvements in tax efficiency, manager flexibility and lower operating costs.

The funds will be incorporated into American Century Investments' suite of ETFs. Other offerings include American Century® Diversified Corporate Bond ETF (KORP), American Century® Quality Diversified International ETF (QINT), American Century® STOXX® U.S. Quality Growth ETF (QGRO), American Century® STOXX® U.S. Quality Value ETF (VALQ) and American Century® Diversified Municipal Bond ETF (TAXF). STOXX is a registered trademark of STOXX Ltd. All of the firm's ETFs feature institutional-quality management that draws on the American Century Investments' fundamental and quantitative expertise.

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' 1,300 employees serve financial professionals, institutions, corporations and individual investors from offices in New York; London; Hong Kong; 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 $1.5 billion since 2000. For more information about American Century Investments, visit www.americancentury.com.

There is no guarantee the investment strategy will be successful. Investing involves risk including the possible loss of principal. Past performance is no guarantee of future results.

Exchange Traded Funds (ETFs) are bought and sold through exchange trading at market price, not Net Asset Value (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.

You should consider the fund's investment objectives, risks, charges and expenses carefully before you invest. Each 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. Investments are subject to market risk.

The STOXX® Index is the intellectual property (including registered trademarks) of STOXX Limited, Zurich, Switzerland ("STOXX"), Deutsche Börse Group or their licensors, which is used under license. The fund is neither sponsored nor promoted, distributed or in any other manner supported by STOXX, Deutsche Börse Group or their licensors, research partners or data providers and STOXX, Deutsche Börse Group and their licensors, research partners or data providers do not give any warranty, and exclude any liability (whether in negligence or otherwise) with respect thereto generally or specifically in relation to any errors, omissions or interruptions in the STOXX® Index or its data.

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

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