[front cover]
AMERICAN CENTURY
Fund Profile
[american century logo(reg.sm)]
American
Century
Equity Income Fund
This profile summarizes key information about the fund that is included in the
fund's Prospectus. The fund's Prospectus includes additional information about
the fund, including a more detailed description of the risks associated with
investing in the fund, that you may want to consider before you invest.
[photos of woman and girls blowing bubbles, men talking, woman at computer]
APRIL 25, 1999
INVESTOR CLASS
You may obtain the Prospectus and other information about the fund at no cost
by calling us at 1-800-345-2021, accessing our Web site or visiting one of our
Investor Centers. See the back cover for additional telephone numbers and our
address.
EQUITY INCOME FUND
1. WHAT IS THE FUND'S INVESTMENT OBJECTIVE?
Equity Income seeks to provide current income. Capital appreciation is a
secondary objective.
2. WHAT IS THE FUND'S INVESTMENT STRATEGY?
The fund managers look for stocks with a favorable dividend-paying history
that show the prospect for continuing and/or increasing dividend payments.
Secondarily, the fund managers look for the possibility that the stock price
may increase.
Under normal circumstances, the fund will invest at least 85% of its assets
in income-paying securities and at least 65% of its assets in stocks. A
portion of the fund's assets may be invested in bonds and other fixed-income
securities. When the fund managers believe that it is prudent, they also may
invest assets in non-leveraged futures and options. "Non-leveraged" means
that the fund may not invest in futures and options where it would be
possible to lose more than the fund invested. Futures and options can help
the fund's cash assets remain liquid while performing more like stocks. The
fund seeks to receive dividend payments that provide a yield to the fund
that exceeds the yield of the stocks comprising the S&P 500 Index.
Additional information about Equity Income's investments is available in its
annual and semiannual reports. In these reports you will find a discussion
of the market conditions and investment strategies that significantly
affected the fund's performance during the most recent fiscal period. You
may get these reports at no cost by calling us.
3. WHAT ARE THE SIGNIFICANT RISKS OF INVESTING IN THE FUND?
* As with all funds, at any given time the value of your shares of Equity
Income may be worth more or less than the price you paid. If you sell your
shares when the value is less than the price you paid, you will lose money.
* 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.
* The value of Equity Income's shares depends on the value of the securities
it owns and the amount of dividends and interest paid to the fund. The value
of the individual securities the fund owns and the dividends they pay will
go up and down depending on the performance of the companies that issued
them, general market and economic conditions, and investor confidence.
* The value of Equity Income's assets invested in bonds and other
fixed-income securities will go up and down as prevailing interest rates
change. Generally, when interest rates rise, the fund's share value will
decline. The opposite is true when interest rates decline.
* If the individual stocks Equity Income owns do not continue or increase
dividend payments, or if the values of those stocks do not increase, the
value of the fund's shares may not rise as high as other funds and may in
fact decline, even if stock prices are generally increasing.
In summary, Equity Income is intended for investors who seek current income
through an equity fund that invests primarily in dividend-paying stocks and
who are willing to accept the risks associated with that investment
strategy.
FUND PERFORMANCE
The following bar chart shows the actual performance of Equity Income's
Investor Class shares for each calendar year since the fund's inception on
August 1, 1994. The bar chart indicates the volatility of the fund's
historical returns from year to year. The bar chart and the performance
information below are not intended to indicate how the fund will perform in
the future.
Equity Income American Century Investments
[data shown in bar chart]
Calendar Year-By-Year Returns (1)
1998 12.97%
1997 28.26%
1996 23.31%
1995 29.63%
(1)As of March 31, 1999, the end of the most recent calendar quarter,
Equity Income's year-to-date return was -4.72%.
The highest and lowest quarterly returns for the period reflected in the bar
chart are:
Highest Lowest
Equity Income 14.19% (4Q1998) -6.23% (3Q1998)
The following table shows the average annual return of the fund's Investor
Class shares for the periods indicated. The S&P 500 Index, an unmanaged
index that reflects no operating costs, is included as a benchmark for
performance comparisons.
1 YEAR LIFE OF FUND(1)
AVERAGE ANNUAL TOTAL RETURNS (PERIOD ENDED MARCH 31, 1999)
Equity Income -0.44% 18.63%
S&P 500 Index 18.42% 27.20%
(1)The inception date for Equity Income is August 1, 1994.
4. WHAT ARE THE FUND'S FEES AND EXPENSES?
There are no sales loads, fees or other charges
* to buy fund shares directly from American Century
* to reinvest dividends in additional shares
* to exchange into the Investor Class shares of other American Century fund
* to redeem your shares
The following table describes the fees and expenses that you will pay if you
buy and hold shares of the fund.
ANNUAL FUND OPERATING EXPENSES
(EXPENSES THAT ARE DEDUCTED FROM FUND ASSETS)
Management Fee 1.00%
Distribution and Service (12b-1) Fees None
Other Expenses(1) 0.00%
Total Annual Fund Operating Expenses 1.00%
(1)Other expenses, which include the fees and expenses of the fund's
independent directors, their legal counsel, interest and extraordinary
expenses, were less than 0.005% for the most recent fiscal year.
EXAMPLE
Assuming you . . .
* invest $10,000 in the fund
* redeem all of your shares at the end of the periods shown below
* earn a 5% return each year
* incur the same operating expenses as shown above
. . . your cost of investing in the fund would be:
1 year 3 years 5 years 10 years
$102 $318 $551 $1,219
Of course, actual costs may be higher or lower. Use this example to
compare the costs of investing in other funds.
5. WHO ARE THE FUND'S INVESTMENT ADVISOR AND PORTFOLIO MANAGERS?
American Century Investment Management, Inc. provides investment advisory
and management services for the fund. American Century uses teams of
portfolio managers, assistant portfolio managers and analysts working
together to manage its mutual funds. The portfolio managers on the Equity
Income team are identified as follows:
PHILLIP N. DAVIDSON, Vice President and Portfolio Manager, has been a member
of the team that manages Equity Income since its inception in August 1994.
He joined American Century in September 1993. He has a bachelor's degree in
finance and an MBA from Illinois State University.
Fund Profile Equity Income
SCOTT A. MOORE, Portfolio Manager, has been a member of the team that
manages Equity Income since October 1996 and Portfolio Manager since
February 1999. He joined American Century in August 1993 as an Investment
Analyst. He has a bachelor's degree in finance from Southern Illinois
University and an MBA in finance from the University of Missouri - Columbia.
He is a Chartered Financial Analyst.
6. HOW DO I BUY FUND SHARES?
* Complete and return the enclosed application
* Call us and exchange shares from another American Century fund
* Call us and send your investment by bank wire transfer
Your initial investment must be at least $2,500 ($1,000 for traditional
IRAs, Roth IRAs and UGMA/UTMA accounts) unless you establish an automatic
investment plan of at least $50 per month. If your redemption activity
causes the value of your account to fall below this account minimum, your
shares may be redeemed involuntarily.
7. HOW DO I SELL FUND SHARES?
You may sell all or part of your fund shares on any business day by writing
or calling us. You also may exchange your shares in Equity Income for shares
in nearly 70 other mutual funds offered by American Century. Depending on
the options you select when you open your account, some restrictions may
apply. For your protection, some redemption requests require a signature
guarantee.
8. HOW ARE FUND DISTRIBUTIONS MADE AND TAXED?
Equity Income pays distributions of substantially all of its income and
realized capital gains once a year, usually in December. Distributions may
be taxable as ordinary income, capital gains or a combination of the two.
Capital gains are taxed at different rates depending on the length of time
the fund held the securities that were sold. Distributions are reinvested
automatically in additional shares unless you choose another option.
9. WHAT SERVICES ARE AVAILABLE?
American Century offers several ways to make it easier for you to manage
your account, such as
* telephone transactions
* wire and electronic funds transfers
* 24-hour Automated Information Line transactions
* 24-hour online Internet account access and transactions
You will find more information about these choices in our Investor Services
Guide, which you may request by calling us, accessing our Web site or
visiting one of our Investor Centers.
Information contained in our Investor Services Guide pertains to
shareholders who invest directly with American Century rather than through
an employer-sponsored retirement plan or financial intermediary.
If you own or are considering purchasing fund shares through an
employer-sponsored retirement plan or financial intermediary, your ability
to purchase shares of the fund, exchange them for shares of other American
Century funds, and redeem them will depend on the terms of your plan or
financial intermediary. If you have questions about investing in an
employer-sponsored retirement plan or through a financial intermediary, call
a Service Representative at 1-800-345-3533.
[american century logo(reg.sm)]
American
Century
AMERICAN CENTURY INVESTMENTS
P.O. BOX 419200
KANSAS CITY, MISSOURI 64141-6200
INVESTOR RELATIONS
1-800-345-2021 or 816-531-5575
AUTOMATED INFORMATION LINE
1-800-345-8765
FAX
816-340-7962
TELECOMMUNICATIONS DEVICE FOR THE DEAF
1-800-634-4113 or 816-444-3485
BUSINESS, NOT-FOR-PROFIT AND
EMPLOYER-SPONSORED RETIREMENT PLANS
1-800-345-353
Visit our Web site at WWW.AMERICANCENTURY.COM [link to web site with arrow]
SH-PRF-16090 9904 Funds Distributor, Inc.
<PAGE>
[front cover]
AMERICAN CENTURY
Fund Profile
[american century logo(reg.sm)]
American
Century
Value Fund
This profile summarizes key information about the fund that is included in the
fund's Prospectus. The fund's Prospectus includes additional information about
the fund, including a more detailed description of the risks associated with
investing in the fund, that you may want to consider before you invest.
[photos of woman and girls blowing bubbles, men talking, woman at computer]
APRIL 25, 1999
INVESTOR CLASS
You may obtain the Prospectus and other information about the fund at no cost
by calling us at 1-800-345-2021, accessing our Web site or visiting one of our
Investor Centers. See the back cover for additional telephone numbers and our
address.
VALUE FUND
1. WHAT IS THE FUND'S INVESTMENT OBJECTIVE?
Value seeks long-term capital growth by investing primarily in common
stocks. Income is a secondary objective.
2. WHAT IS THE FUND'S INVESTMENT STRATEGY?
The fund managers look for stocks of medium to large companies that they
believe are undervalued at the time of purchase. They use a value investment
strategy that looks for companies that are temporarily out of favor in the
market. The fund managers attempt to purchase the stock of these undervalued
companies and hold them until they have returned to favor in the market and
their stock prices have gone up.
Companies may be undervalued due to market declines, poor economic
conditions, actual or anticipated bad news regarding the issuer or its
industry, or because they have been overlooked by the market. To identify
these companies, the fund managers look for earnings, cash flows and/or
assets that may not be reflected accurately in the companies' stock prices,
or companies whose dividend payments appear high when compared to the stock
prices.
Although Value will invest primarily in equity securities, it also may
invest up to 20% of its assets in other types of securities. When the fund
managers believe that it is prudent, they also may invest assets in
non-leveraged futures and options. "Non-leveraged" means that the fund may
not invest in futures and options where it would be possible to lose more
than the fund invested. Futures and options can help the fund's cash assets
remain liquid while performing more like stocks.
Additional information about Value's investments is available in its annual
and semiannual reports. In these reports you will find a discussion of the
market conditions and investment strategies that significantly affected the
fund's performance during the most recent fiscal period. You may get these
reports at no cost by calling us.
3. WHAT ARE THE SIGNIFICANT RISKS OF INVESTING IN THE FUND?
* As with all funds, at any given time the value of your shares of the fund
may be worth more or less than the price you paid. If you sell your shares
when the value is less than the price you paid, you will lose money.
* 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.
* The value of the fund's shares depends on the value of the stocks and
other securities it owns. The value of the individual securities Value owns
will go up and down depending on the performance of the companies that
issued them, general market and economic conditions, and investor
confidence.
* If the market does not consider the individual stocks purchased by Value
to be undervalued, the value of the fund's shares may not rise as high as
other funds and may in fact decline, even if stock prices are generally
increasing.
* Market performance tends to be cyclical and, in the various cycles,
certain investment styles may fall in and out of favor. If the market is not
favoring the fund's style, the fund's gains may not be as big as, or its
losses may be bigger than, other equity funds using different investment
styles.
In summary, Value is intended for investors who seek long-term capital
growth through an equity fund utilizing the value style of investing and who
are willing to accept the risks associated with that investment strategy.
FUND PERFORMANCE
The following bar chart shows the actual performance of Value's Investor
Class shares for each calendar year since the fund's inception on September
1, 1993. The bar chart indicates the volatility of the fund's historical
returns from year to year. The bar chart and the performance information
below are not intended to indicate how the fund will perform in the future.
Value American Century Investments
[data shown in bar chart]
Calendar Year-By-Year Returns (1)
1998 14.99%
1997 26.01%
1996 24.25%
1995 32.80%
1994 3.99%
(1)As of March 31, 1999, the end of the most recent calendar quarter,
Value's year-to-date return was -4.33%.
The highest and lowest quarterly returns for the period reflected in the bar
chart are:
Highest Lowest
Value 12.87% (2Q 1997) -10.85% (3Q 1998)
The following table shows the average annual return of the fund's Investor
Class shares for the periods indicated. The S&P 500/BARRA Value Index, an
unmanaged index that reflects no operating costs, is included as a benchmark
for performance comparisons.
1 YEAR 5 YEARS LIFE OF FUND(1)
AVERAGE ANNUAL TOTAL RETURNS (PERIOD ENDED MARCH 31, 1999)
Value -9.88% 17.29% 15.54%
S&P 500/BARRA
Value Index 5.73% 21.36% 18.30%
(1)The inception date for Value is September 1, 1993.
4. WHAT ARE THE FUND'S FEES AND EXPENSES?
There are no sales loads, fees or other charges
* to buy fund shares directly from American Century
* to reinvest dividends in additional shares
* to exchange into the Investor Class shares of other American Century fund
* to redeem your shares
The following table describes the fees and expenses that you will pay if you
buy and hold shares of the fund.
ANNUAL FUND OPERATING EXPENSES
(EXPENSES THAT ARE DEDUCTED FROM FUND ASSETS)
Management Fee 1.00%
Distribution and Service (12b-1) Fees None
Other Expenses(1) 0.00%
Total Annual Fund Operating Expenses 1.00%
(1)Other expenses, which include the fees and expenses of the fund's
independent directors, their legal counsel, interest and extraordinary
expenses, were less than 0.005% for the most recent fiscal year.
EXAMPLE
Assuming you . . .
* invest $10,000 in the fund
* redeem all of your shares at the end of the periods shown below
* earn a 5% return each year
* incur the same operating expenses as shown above
. . . your cost of investing in the fund would be:
1 year 3 years 5 years 10 years
$102 $318 $551 $1,219
Of course, actual costs may be higher or lower. Use this example to
compare the costs of investing in other funds.
5. WHO ARE THE FUND'S INVESTMENT ADVISOR AND PORTFOLIO MANAGERS?
American Century Investment Management, Inc. provides investment advisory
and management services for the fund. American Century uses teams of
portfolio managers, assistant portfolio managers and analysts working
together to manage its mutual funds. The portfolio managers on the Value
team are identified as follows:
PHILLIP N. DAVIDSON, Vice President and Portfolio Manager, has been a member
of the team that manages Value since joining American Century in September
1993. He has a bachelor's degree in finance and an MBA from Illinois State
University.
Fund Profile Value
SCOTT A. MOORE, Portfolio Manager, has been a member of the team that
manages Value since October 1996 and Portfolio Manager since February 1999.
He joined American Century in August 1993 as an Investment Analyst. He has a
bachelor's degree in finance from Southern Illinois University and an MBA in
finance from the University of Missouri - Columbia. He is a Chartered
Financial Analyst.
6. HOW DO I BUY FUND SHARES?
* Complete and return the enclosed application
* Call us and exchange shares from another American Century fund
* Call us and send your investment by bank wire transfer
Your initial investment must be at least $2,500 ($1,000 for traditional
IRAs, Roth IRAs and UGMA/UTMA accounts) unless you establish an automatic
investment plan of at least $50 per month. If your redemption activity
causes the value of your account to fall below this account minimum, your
shares may be redeemed involuntarily.
7. HOW DO I SELL FUND SHARES?
You may sell all or part of your fund shares on any business day by writing
or calling us. You also may exchange your shares in Value for shares in
nearly 70 other mutual funds offered by American Century. Depending on the
options you select when you open your account, some restrictions may apply.
For your protection, some redemption requests require a signature guarantee.
8. HOW ARE FUND DISTRIBUTIONS MADE AND TAXED?
Value pays distributions of substantially all of its income and realized
capital gains once a year, usually in December. Distributions may be taxable
as ordinary income, capital gains or a combination of the two. Capital gains
are taxed at different rates depending on the length of time the fund held
the securities that were sold. Distributions are reinvested automatically in
additional shares unless you choose another option.
9. WHAT SERVICES ARE AVAILABLE?
American Century offers several ways to make it easier for you to manage
your account, such as
* telephone transactions
* wire and electronic funds transfers
* 24-hour Automated Information Line transactions
* 24-hour online Internet account access and transactions
You will find more information about these choices in our Investor Services
Guide, which you may request by calling us, accessing our Web site or
visiting one of our Investor Centers.
Information contained in our Investor Services Guide pertains to
shareholders who invest directly with American Century rather than through
an employer-sponsored retirement plan or financial intermediary.
If you own or are considering purchasing fund shares through an
employer-sponsored retirement plan or financial intermediary, your ability
to purchase shares of the fund, exchange them for shares of other American
Century funds, and redeem them will depend on the terms of your plan or
financial intermediary. If you have questions about investing in an
employer-sponsored retirement plan or through a financial intermediary, call
a Service Representative at 1-800-345-3533.
[american century logo(reg.sm)]
American
Century
FAX 816-340-7962
AMERICAN CENTURY INVESTMENTS
P.O. BOX 419200
KANSAS CITY, MISSOURI 64141-6200
INVESTOR RELATIONS
1-800-345-2021 or 816-531-5575
AUTOMATED INFORMATION LINE
1-800-345-8765
TELECOMMUNICATIONS DEVICE FOR THE DEAF
1-800-634-4113 or 816-444-3485
BUSINESS, NOT-FOR-PROFIT AND
EMPLOYER-SPONSORED RETIREMENT PLANS
1-800-345-353
Visit our Web site at WWW.AMERICANCENTURY.COM [link to web site with arrow]
SH-PRF-16089 9904 Funds Distributor, Inc.
<PAGE>
[front cover]
AMERICAN CENTURY
Fund Profile
[american century logo(reg.sm)]
American
Century
Equity Index Fund
This profile summarizes key information about the fund that is included in the
fund's Prospectus. The fund's Prospectus includes additional information about
the fund, including a more detailed description of the risks associated with
investing in the fund, that you may want to consider before you invest.
[photos of woman and girls blowing bubbles, men talking, woman at computer]
APRIL 25, 1999
INVESTOR CLASS
You may obtain the Prospectus and other information about the fund at no cost
by calling us at 1-800-345-2021, accessing our Web site or visiting one of our
Investor Centers. See the back cover for additional telephone numbers and our
address.
EQUITY INDEX FUND
1. WHAT IS THE FUND'S INVESTMENT OBJECTIVE?
Equity Index seeks long-term capital growth by investing primarily in the
common stocks contained in the S&P 500 Index.
2. WHAT IS THE FUND'S INVESTMENT STRATEGY?
Equity Index seeks to match, as closely as possible, the investment
characteristics and results of the S&P 500 Index. The fund managers buy and
sell stocks and other securities in order to build an investment portfolio
that seeks to mirror the S&P 500 Index.
The fund managers generally will select stocks for the fund's portfolio in
order of their weightings in the S&P 500 Index, beginning with the
heaviest-weighted stocks. The fund attempts to be fully invested at all
times in the stocks that comprise the S&P 500 Index and, in any event, will
keep at least 80% of the fund's total assets invested this way.
The S&P 500 Index is an unmanaged index composed of 500 selected common
stocks, most of which are listed on the New York Stock Exchange. Standard &
Poor's, a division of The McGraw-Hill Companies, Inc., chooses the stocks
included in the S&P 500 Index. The weightings of stocks in the S&P 500 Index
are based on each stock's total market capitalization relative to the other
stocks contained in the index. Because of this weighting, the fund expects
that the 50 largest companies will comprise a large proportion of the S&P
500 Index.
When the fund managers believe that it is prudent, the fund also may invest
in S&P 500 Index futures and options. The fund will purchase futures and
options on a non-leveraged basis. "Non-leveraged" means that the fund may
not invest in futures and options where it would be possible to lose more
than the fund invested. S&P 500 Index futures and options can help the
fund's assets remain liquid while performing more like the S&P 500 Index.
"Standard & Poor's(reg.tm)," "Standard & Poor's 500," "S&P 500(reg.tm)" and
"S&P(reg.tm)" are trademarks of The McGraw-Hill Companies, Inc., and have
been licensed for use by American Century. The fund is not sponsored,
endorsed, sold or promoted by Standard & Poor's and Standard & Poor's makes
no representation regarding the advisability of investing in the fund.
3. WHAT ARE THE SIGNIFICANT RISKS OF INVESTING IN THE FUND?
* As with all funds, at any given time the value of your shares of Equity
Index may be worth more or less than the price you paid. If you sell your
shares when the value is less than the price you paid, you will lose money.
* 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.
* The value of Equity Index's shares depends on the value of the stocks and
other securities it owns. The value of the individual securities Equity
Index owns will go up and down depending on the performance of the companies
that issued them, general market and economic conditions, and investor
confidence.
* The fund's ability to correlate its performance with that of the S&P 500
Index may be affected by, among other things, changes in securities markets,
the manner in which the total return of the S&P 500 Index is calculated, the
size of the fund's portfolio, the amount of cash or cash equivalents held in
the fund's portfolio, and the timing, frequency and size of shareholder
purchases and redemptions. The fund will use cash flows from shareholder
purchase and redemption activity to maintain, as closely as possible, the
similarity of its portfolio to the securities comprising the S&P 500 Index.
In summary, Equity Index is intended for investors who seek long-term
capital growth by matching, as closely as possible, the investment results
of the S&P 500 Index and who are willing to accept the risks associated with
the fund's investment strategy.
Equity Index American Century Investments
4. WHAT ARE THE FUND'S FEES AND EXPENSES?
There are no sales loads, fees or other charges
* to buy fund shares directly from American Century
* to reinvest dividends in additional shares
* to exchange into the Investor Class shares of other American Century fund
* to redeem your shares
The following table describes the fees and expenses that you will pay if you
buy and hold shares of the fund.
ANNUAL FUND OPERATING EXPENSES
(EXPENSES THAT ARE DEDUCTED FROM FUND ASSETS)
Management Fee 0.49%
Distribution and Service (12b-1) Fees None
Other Expenses(1) 0.00%
Total Annual Fund Operating Expenses 0.49%
(1)Other expenses, which include the fees and expenses of the fund's
independent directors, their legal counsel, interest and extraordinary
expenses, are expected to be less than 0.005% for the current fiscal
year.
EXAMPLE
Assuming you . . .
* invest $10,000 in the fund
* redeem all of your shares at the end of the periods shown below
* earn a 5% return each year
* incur the same operating expenses as shown above
. . . your cost of investing in the fund would be:
1 year 3 years
$50 $157
Of course, actual costs may be higher or lower. Use this example to
compare the costs of investing in other funds.
5. WHO ARE THE FUND'S INVESTMENT ADVISOR AND PORTFOLIO MANAGERS?
American Century Investment Management, Inc. provides investment advisory
and management services for the fund. The advisor has, in turn, hired
Barclays Global Fund Advisors to make the day-to-day investment decisions
for the fund. Barclays Global Fund Advisors performs this function under the
supervision of American Century Investment Management, Inc. and the fund's
Board of Directors.
6. HOW DO I BUY FUND SHARES?
* Complete and return the enclosed application
* Call us and exchange shares from another American Century fund
* Call us and send your investment by bank wire transfer
Your initial investment must be at least $10,000. If your redemption
activity causes the value of your account to fall below this account
minimum, your shares may be redeemed involuntarily.
7. HOW DO I SELL FUND SHARES?
You may sell all or part of your fund shares on any business day by writing
or calling us. You also may exchange your shares in Equity Index for shares
in nearly 70 other mutual funds offered by American Century. Depending on
the options you select when you open your account, some restrictions may
apply. For your protection, some redemption requests require a signature
guarantee.
8. HOW ARE FUND DISTRIBUTIONS MADE AND TAXED?
Equity Index pays distributions from net investment income quarterly. The
fund declares and pays distributions of net realized capital gains once a
year, usually in December. Distributions may be taxable as ordinary income,
capital gains or a combination of the two. Capital gains are taxed at
different rates depending on the length of time the fund held the securities
that were sold. Distributions are reinvested automatically in additional
shares unless you choose another option.
Fund Profile Equity Index
9. WHAT SERVICES ARE AVAILABLE?
American Century offers several ways to make it easier for you to manage
your account, such as
* telephone transactions
* wire and electronic funds transfers
* 24-hour Automated Information Line transactions
* 24-hour online Internet account access and transactions
You will find more information about these choices in our Investor Services
Guide, which you may request by calling us, accessing our Web site or
visiting one of our Investor Centers.
Information contained in our Investor Services Guide pertains to
shareholders who invest directly with American Century rather than through
an employer-sponsored retirement plan or financial intermediary.
If you own or are considering purchasing fund shares through an
employer-sponsored retirement plan or financial intermediary, your ability
to purchase shares of the fund, exchange them for shares of other American
Century funds, and redeem them will depend on the terms of your plan or
financial intermediary. If you have questions about investing in an
employer-sponsored retirement plan or through a financial intermediary, call
a Service Representative at 1-800-345-3533.
[american century logo(reg.sm)]
American
Century
AMERICAN CENTURY INVESTMENTS
P.O. BOX 419200
KANSAS CITY, MISSOURI 64141-6200
INVESTOR RELATIONS
1-800-345-2021 or 816-531-5575
AUTOMATED INFORMATION LINE
1-800-345-8765
FAX
816-340-7962
TELECOMMUNICATIONS DEVICE FOR THE DEAF
1-800-634-4113 or 816-444-3485
BUSINESS, NOT-FOR-PROFIT AND
EMPLOYER-SPONSORED RETIREMENT PLANS
1-800-345-353
Visit our Web site at WWW.AMERICANCENTURY.COM [link to web site with arrow]
SH-PRF-16095 9904 Funds Distributor, Inc.
