American Century Small Cap Growth Fund - Investor Class (ANOIX) is an open-end equity mutual fund that seeks long-term capital growth by investing primarily in small-cap growth stocks. The fund, managed by American Century Investment Management, Inc., allocates at least 80% of its net assets to companies with market capitalizations not exceeding the largest constituent of the Russell 2000 Growth Index; it employs a bottom-up fundamental analysis and stock-picking approach across diversified sectors, targeting firms with sustainable accelerating earnings growth and positive price momentum. As of late 2025, the fund holds approximately 140 securities, with top positions including Casella Waste Systems Inc., Hayward Holdings Inc., Carpenter Technology Corp., ACI Worldwide Inc., and CAE Inc.; total net assets stand at around $4.8 billion, with an expense ratio of 1.14% and a portfolio turnover rate of 83%. Investor Class shares require a minimum initial investment of $2,500 for non-retirement accounts or $1,000 for IRAs, waivable under automatic investment plans.
Launched on June 1, 2001, the fund is domiciled in the United States and benchmarks its performance against the Russell 2000 Growth Index and Russell 3000 Index; it is part of the broader American Century Investments platform, headquartered in Kansas City, Missouri, a firm founded in 1958 with approximately $300 billion in global assets under management. The fund serves individual investors, financial advisors, and institutional clients through no-load share classes, with daily pricing and distributions.
Portfolio management is led by Jackie Wagner, Vice President and Senior Portfolio Manager since April 2015, and Jeff Hoernemann, CFA, Vice President and Portfolio Manager since April 2017. In October 2025, American Century Investments expanded its small-cap offerings by launching the American Century Small Cap Growth Insights ETF (ACSG), leveraging the same stock selection processes as the Small Cap Growth Fund to provide a benchmark-consistent, actively managed ETF vehicle focused on U.S. small-cap growth companies with accelerating fundamentals. This strategic addition enhances the firm's ETF platform, now ranking as the fourth-largest issuer of active ETFs in the U.S., amid ongoing quarterly portfolio adjustments reflected in Q3 2025 commentary emphasizing AI-driven market dynamics and resilient positioning.