American Century Diversified Corporate Bond ETF's Fee Reduced

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Jun 17, 2019, 12:01 ET

KANSAS CITY, Mo., June 17, 2019 /PRNewswire/ -- American Century Investments today announced it has reduced American Century Diversified Corporate Bond Exchange Traded Fund's (KORP) management fee from 0.45% to 0.29%. The fee reduction for KORP was effective June 14.

"With KORP now exceeding $60 million and attracting steady flows, we decided to reduce the fees in order to provide better value to investors," said Edward Rosenberg, senior vice president and head of ETFs for American Century Investments. "Our goal has always been to provide a lineup of ETFs that apply our unique insights to solve common investment problems."

KORP is an actively managed corporate bond fund designed for investors seeking current income. The fund emphasizes investment-grade debt while dynamically allocating a portion of the portfolio to high yield in a single, systematically managed portfolio. By integrating fundamental and quantitative expertise, the portfolio management team strives for enhanced return potential versus traditional capitalization-weighted passive portfolios.

The fund is comanaged by Charles Tan, Jeffrey Houston, Le Tran and Gavin Fleischman. Senior Vice President and Global Fixed Income co-chief investment officer Tan joined American Century in 2018. Vice President and Senior Portfolio Manager Houston has been with the company since 1990. Vice Presidents and Portfolio Managers Tran and Fleischman joined the firm's fixed income team in 2004 and 2008, respectively.

American Century offers a suite of ETFs that include 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's 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.americancenturyetfs.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 (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.

You should consider the fund's investment objectives, risks, charges and expenses carefully before you invest. The 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. Past performance is no guarantee of future results.

Generally, as interest rates rise, the value of the securities held in the fund will decline. The opposite is true when interest rates decline.

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.