Target Date Portfolios

Summary

STRATEGY FACTS

Investment Universe	N/A
Benchmark	N/A
Inception Date	08/31/2004
Total Assets as of 6/30/2022	$24.5B Represents all share classes and CIT.

INVESTMENT TEAM

1 Investment Analyst

2 Client Portfolio Managers

Documents & Resources

Quarterly Review

One Choice Target Date Portfolios are a series of target-date strategies that provide a one-decision, one-investment approach to retirement planning. All portfolios use a fund-of-funds structure, combining American Century Investments' best investment ideas with sophisticated asset allocation, multi-level diversification and intelligent rebalancing.

The One Choice Target Date Portfolios seek the highest total return possible consistent with an investment mix appropriate for the number of years remaining until the target date.

We believe:

Target-date portfolios should provide cash flow for retirement, not be high-risk, wealth-maximizing strategies.
A flat glide path in retirement is a better trade off than a sloping one.
A less volatile glide path is more appropriate because the future is uncertain, potential volatility around retirement can permanently damage retirement savings, and emotional investment horizons can be very short in the face of losses.
Aggressive diversification reduces portfolio volatility and improves efficiency.
Active management and intelligent rebalancing adds value.

Glide Path

Performance

As of 06/30/2022

	PERFORMANCE IN USD (%)
	QTR	1 YR	3 YR*	5 YR*	10 YR*	Since Incp.*	Inception Date	Exp. Ratio
One Choice 2065 Portfolio	-13.92%	-16.49%	--	--	--	4.20%	09/23/2020	0.69%
One Choice 2060 Portfolio	-13.84%	-16.39%	5.59%	6.57%	--	8.03%	09/30/2015	0.69%
One Choice 2055 Portfolio	-13.55%	-16.20%	5.47%	6.46%	8.52%	7.77%	03/31/2011	0.69%
One Choice 2050 Portfolio	-13.17%	-15.80%	5.29%	6.34%	8.34%	6.29%	05/30/2008	0.69%
One Choice 2045 Portfolio	-12.61%	-15.28%	4.77%	5.89%	8.00%	7.25%	08/31/2004	0.67%
One Choice 2040 Portfolio	-11.97%	-14.43%	4.34%	5.49%	7.51%	5.94%	05/30/2008	0.64%
One Choice 2035 Portfolio	-11.21%	-13.31%	4.03%	5.12%	7.01%	6.70%	08/31/2004	0.62%
One Choice 2030 Portfolio	-10.47%	-12.21%	3.72%	4.79%	6.50%	5.33%	05/30/2008	0.59%
One Choice 2025 Portfolio	-9.71%	-11.14%	3.41%	4.48%	6.01%	6.10%	08/31/2004	0.57%
One Choice In Retirement Portfolio	-9.22%	-10.60%	3.12%	4.12%	5.26%	5.32%	08/31/2004	0.55%

*Annualized

Portfolio managers are not licensed by the Hong Kong Securities and Futures Commission to perform any regulated function in or from Hong Kong. Furthermore, none of the portfolio managers are located in or operate in or from Hong Kong.

Data presented reflects past performance of I class shares. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance shown. Investment return and principal value will fluctuate, and redemption value may be more or less than original cost. For information about other share classes available, please consult the prospectus. Data assumes reinvestment of dividends and capital gains. To obtain data current to the most recent month end, please contact us.

Performance represents I share class and is shown net of fees.

Diversification does not assure a profit nor does it protect against loss of principal.

Expense Ratio reflects I share class. The annual expense ratio is based on expenses incurred by the fund, as stated in the most recent prospectus.

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.

A One Choice Target Date Portfolio's target date is the approximate year when investors plan to retire or start withdrawing their money. The principal value of the investment is not guaranteed at any time, including at the target date.

Each target-date One Choice Target Date Portfolio seeks the highest total return consistent with American Century Investments' proprietary asset mix. Over time, the asset mix and weightings are adjusted to be more conservative. In general, as the target year approaches, the portfolio's allocation becomes more conservative by decreasing the allocation to stocks and increasing the allocation to bonds and cash equivalents.

American Century Investment Services, Inc., Distributor