American Century California High Yield Municipal Fund
BCHYX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
•
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
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Jonathan S. Thomas
- Full Time Employees
- 1,400
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 4500 Main Street Kansas City MO United States of America 64111
- IPO Date
- Jun 20, 1996
- CIK
- 0000717316
- Website
- americancentury.com
- Similar Companies
- Business
- American Century California High Yield Municipal Fund Investor Class (BCHYX) is an open-end mutual fund managed by American Century Investments that seeks high current income exempt from federal and California state income taxes. The fund invests at least 80% of its net assets in California municipal securities and securities issued by U.S. territories, with an emphasis on high-yield securities rated below investment grade or of comparable quality; it may allocate up to 20% to debt securities subject to federal income tax, California state or local income tax, or the federal alternative minimum tax. Its portfolio primarily comprises municipal tax-exempt bonds (approximately 96%), government-related securities, and cash equivalents, targeting California residents in the Muni California Long category with an effective duration of around 7.9 years, total net assets of approximately $1.56 billion, and a net expense ratio of 0.50%. The Investor Class shares, designated BCHYX, feature a minimum initial investment of $2,500 for non-retirement accounts ($1,000 for IRAs), waivable with automatic investments, and daily pricing with no front-end or deferred loads. The fund maintains low exposure to the alternative minimum tax while focusing on total return and income through a diversified portfolio of roughly 665 holdings, including top positions in University of California revenue bonds, Silicon Valley tobacco securitization authority bonds, and California infrastructure economic development bank revenue bonds. American Century Investments, the fund's adviser, was founded in 1958 and is headquartered at 4500 Main Street in Kansas City, Missouri, operating as a privately controlled independent asset manager with over $300 billion in assets under supervision as of September 2025. The fund, launched on December 30, 1986, is domiciled in the United States and available primarily to U.S. investors, with portfolio management led by Alan Kruss and Joseph Gotelli since 2012. Nomura Holdings maintains a longstanding strategic partnership with American Century as a non-controlling 41% economic interest holder since 2016. Recent developments include a 2022 leadership transition in the municipal bond strategy, which Morningstar notes has kept the fund in solid standing, alongside American Century's 2023 entry into private markets via the completed acquisition of the 3x5 Partners venture capital team to expand capabilities in healthcare and climate-focused early-stage growth investing. In 2025, the firm achieved a milestone of $300 billion in assets under supervision driven by client demand, with the BCHYX fund delivering a year-to-date total return of approximately 2.68% as of late November amid ongoing portfolio turnover of 56%. No fund-specific acquisitions, new share classes, or major reorganizations have been reported in the last 1-2 years.