American Century High-Yield Muni Inv
ABHYX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Seth Bernstein
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Kansas City, MO 64111 Kansas City MO United States of America 37203
- IPO Date
- Mar 31, 1998
- CIK
- 0000746458
- Website
- alliancebernstein.com
- Similar Companies
- Business
- American Century High-Yield Municipal Fund Investor Class (ABHYX) is a mutual fund managed by American Century Investments that seeks high current income exempt from federal income taxes, with a secondary objective of capital appreciation, by investing primarily in high-yield municipal securities and debt obligations. Under normal market conditions, the fund allocates at least 80% of its net assets to municipal securities whose interest is exempt from federal income tax, including high-yield (below investment grade) bonds issued by states, territories, possessions, and political subdivisions such as revenue bonds for hospitals, utilities, and transportation; general obligation bonds; and other tax-exempt debt, while maintaining low exposure to the federal alternative minimum tax (AMT). The Investor Class shares feature no sales loads, a net expense ratio of 0.60%, a minimum initial investment of $2,500 for non-retirement accounts ($1,000 for IRAs), and are available directly to individual investors through American Century Investments, with additional share classes (Advisor, A, C, I, Y, R, R5, R6) offered via intermediaries or retirement plans. The fund's portfolio emphasizes high-yield municipal bonds from issuers like Buckeye Ohio Tobacco Settlement Financing Authority, New York City Water and Sewer System, and Clifton Texas Higher Education Finance Corporation, targeting retail and institutional investors seeking tax-advantaged income with an effective duration of approximately 7.92 years and a trailing twelve-month yield around 4.08%. American Century Investments, the fund's manager, founded in 1958 and headquartered at 4500 Main Street in Kansas City, Missouri, operates globally with offices in New York, London, Hong Kong, Sydney, and other locations, managing over $250 billion in assets across mutual funds, ETFs, and institutional strategies. ABHYX, launched on March 31, 1998, belongs to the High Yield Muni category and benchmarks against the S&P Municipal Bond 50% Investment Grade/50% High Yield Index, with approximately $617 million in assets under management as of late 2025. In recent developments, the fund navigated quarterly performance challenges, including underperformance in high-yield munis during Q2 2025 amid widening credit spreads, followed by a solid Q3 2025 gain driven by broader municipal bond strength, as detailed in American Century's periodic commentaries. At the parent company level, Avantis Investors—a global investment offering from American Century—achieved a major growth milestone in December 2025 by surpassing $100 billion in assets under management just six years after launch, fueled by nearly $27 billion in net new investments through the first 11 months of 2025 and expanded offerings across the U.S., Australia, and Europe. No significant acquisitions, partnerships, or structural changes specific to ABHYX were reported in 2024-2025, with the fund maintaining its collaborative management approach noted for solid standing post-2022 leadership transition despite a lean credit analyst team.