- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Kansas City, MO 64111 Kansas City MO United States of America 64111
- IPO Date
- Apr 10, 2017
- Business
- American Century IntermTrm Tx-Fr Bd Y (ATBYX) is an institutional share class of the Intermediate-Term Tax-Free Bond Fund managed by American Century Investments, seeking high current income exempt from federal income tax and preservation of capital through investments primarily in investment-grade municipal securities issued by U.S. states, cities, counties, and territories for public projects; the portfolio emphasizes intermediate-term debt obligations with an effective duration of approximately 5.45 years, medium credit quality, and moderate interest rate sensitivity, including bonds such as those from Central Plains Energy Proj Neb Gas Proj Rev 5%, Southern Ute Indian Tribe, and New Jersey St Transn Tr Fd Auth 5%, with up to 20% permitted in taxable or AMT-subject securities and minor allocations to cash equivalents and derivatives like Treasury futures. The fund operates within the municipal national intermediate category, targeting tax-sensitive institutional investors and financial intermediaries, with total net assets of approximately $3.6-$3.76 billion, a low net expense ratio of 0.23-0.24%, and a TTM yield of 3.55%. American Century Investments, founded in 1958 and headquartered at 4500 Main Street in Kansas City, Missouri, manages the fund alongside its broader offerings of mutual funds, ETFs, and private investments, with global offices in New York, London, Hong Kong, and Sydney.
In recent developments, American Century Investments reached a milestone of $300 billion in assets under supervision in September 2025, fueled by growth in active ETFs via its Avantis Investors platform, which expanded to $75 billion and solidified its position as the fourth-largest U.S. active ETF issuer, alongside launches of private investment capabilities in 2023 by integrating the 3x5 Partners venture capital team focused on healthcare and climate early-stage growth. The firm also announced in July 2025 plans to close and liquidate certain ETFs, including the Quality Preferred ETF (QPFF), effective September 2025, reflecting portfolio optimization amid market conditions. These strategic expansions and asset growth support ongoing operations of funds like ATBYX, with no reported fund-specific acquisitions, partnerships, or reorganizations in the past 1-2 years.