- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 4500 Main Street Kansas City MO United States of America 64111
- IPO Date
- Feb 27, 1987
- Business
- American Century Intermediate-Term Tax-Free Bond Fund Investor Class (TWTIX) is an open-end mutual fund managed by American Century Investments that seeks high current income exempt from federal income taxes through investments in investment-grade municipal debt securities; the fund normally invests at least 80% of its net assets in debt securities with interest payments exempt from federal income tax, including bonds issued by state and local governments to fund public projects, with a weighted average maturity between three and ten years and no individual maturity limit; it may allocate up to 20% to taxable debt or securities subject to the federal alternative minimum tax, with portfolio diversification primarily in U.S. municipal tax-exempt bonds (99.81%), cash equivalents, and minimal non-U.S. bonds. The Investor Class shares, available directly to individual investors, require a minimum initial investment of $2,500 for non-retirement accounts or $1,000 for IRAs (waivable with automatic investments), feature a net expense ratio of 0.46%-0.47%, and track the S&P Intermediate Term National AMT-Free Municipal Bond Index. American Century Investments, the fund's sponsor founded in 1958 and headquartered at 4500 Main Street in Kansas City, Missouri, manages over $300 billion in assets across mutual funds, ETFs, separately managed accounts, and private investments; the firm operates globally with offices in New York, London, Hong Kong, and Sydney, targeting retail, institutional, and advisory clients in fixed income, equity, and alternative strategies.
In recent developments, American Century Investments achieved a milestone by surpassing $300 billion in assets under supervision in September 2025, driven by client-focused growth, expansion in active ETFs, and the introduction of a private investments team offering access to non-public market opportunities; its Avantis Investors division, which reached $75 billion in assets under management by June 2025, formed a strategic alliance with CIBC Asset Management in November 2025 to launch eight Avantis CIBC ETFs in Canada, including equity, small-cap value, and emerging markets products; the firm also launched new Small Cap Insights ETFs in October 2025 and continues global expansion, including UCITS ETFs in Europe.