American Century High-Yield Bond Fund Investor Class (ABHIX) is an open-end mutual fund managed by American Century Investments that seeks high current income through investments primarily in high-yield, lower-rated fixed-income securities; it normally invests at least 80% of its net assets in high-yield corporate bonds rated below investment grade, bank loans, preferred stocks, and exchange-traded funds tracking high-yield indices such as iShares Broad USD High Yield Corporate Bond ETF, SPDR Portfolio High Yield Bond ETF, and SPDR Bloomberg Short Term High Yield Bond ETF, with top holdings including CCO Holdings LLC/CCO Holdings Capital Corp 4.25%, Iron Mountain Inc 4.875%, and securities from issuers like Carnival Corp, Royal Caribbean Cruises Ltd, and Seagate HDD Cayman. The fund maintains a diversified portfolio with approximately 79% in U.S. bonds, 14% in non-U.S. bonds, 5% in cash equivalents, and smaller allocations to preferred stock and bank loans across sectors dominated by corporate bonds; it targets retail and institutional investors seeking income from below-investment-grade debt with limited interest-rate sensitivity. American Century Investments, founded in 1958 and headquartered in Kansas City, Missouri, oversees the fund, which was launched on September 30, 1997, and operates primarily in the United States with global fixed-income exposure.
In recent developments, the fund experienced a management fee reduction effective June 24, 2025, as reflected in restated fees, alongside the appointment of Muting Ren as co-portfolio manager on that date, joining Charles Tan who has managed since May 2019; these changes align with ongoing portfolio adjustments amid Federal Reserve rate cuts and market dynamics boosting high-yield performance in 2025. The fund reported year-to-date total returns of 7.79% as of November 28, 2025, with net assets around $86 million and a net expense ratio of 0.70%, maintaining no front-end or deferred loads and minimum initial investments of $2,500 for non-retirement accounts.