American Century Asset Allocation Portfolios, Inc. - One Choice Portfolio: Very Conservative Investor Class (AONIX) is an open-end balanced fund of funds managed by American Century Investment Management, Inc., seeking the highest total return consistent with its targeted asset mix. The fund invests predominantly in other American Century Investments mutual funds, known as underlying funds, which provide exposure to a variety of asset classes and investment styles including public equity securities and fixed-income instruments across the United States; its asset allocation strategy emphasizes fixed-income securities and short-term investments comprising approximately 50% and 25% of the portfolio respectively, complemented by 25% in equity securities. With net assets of approximately $366.6 million as of late 2025, a net expense ratio of 0.72%, a portfolio turnover of 9%, and total holdings numbering 17, primarily concentrated in its top ten holdings at 92.84%, the Investor Class shares feature minimum initial investments of $2,500 for non-retirement accounts or $1,000 for IRAs and CESAs (waivable with automatic investments). Launched on September 30, 2004, the fund is domiciled in the United States and benchmarks its equity portion against the Russell 3000 Index and its fixed-income portion against the Citigroup US Broad Investment-Grade Bond Index, targeting conservative allocation investors prioritizing capital preservation with moderate income and growth potential. American Century Investments, the fund's manager and part of a strategic alliance with Nomura Holdings since 2016, operates globally with headquarters in Kansas City, Missouri, and recently marked significant milestones including surpassing $300 billion in assets under supervision in September 2025 through client-focused growth and innovations such as expansions in active ETFs via its Avantis Investors platform; in October 2025, it launched the Small Cap Growth Insights ETF (ACSG) and Small Cap Value Insights ETF (ACSV) to enhance its ETF offerings.