sustainable equity fund

americancentury.com

SUSTAINABILITY REPORT

NON-FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Sustainable Equity Fund

2020 Sustainability Report

We believe integrating environmental, social and governance (ESG) factors into our investment process leads to better decision making and improved outcomes for our investors.

Joe Reiland, CFA Portfolio Manager

2americancentury.com

The long-term consequences of various events over the past year have brought home the importance of inte-grating environmental, social and governance (ESG) opportunities and risks into our investment process.

Having profoundly changed our lives, the COVID-19 pandemic will undoubtedly be a defining moment of our lifetimes. Beyond its devastating tolls on human health and employment, the pandemic has also affected portfolios from both an investment and ESG perspective. The economic disruptions produced major market vola-tility while magnifying social inequalities and increasing scrutiny of corporate policies around employee health and safety.

We have also witnessed further evidence of the impact of climate change on the environment. Shifting weather patterns produced more frequent and intense storms while wildfires ravaged millions of acres of land world-wide. These were reminders that global climate risks not only affect us all personally but can have material long-term financial implications.

There have been positive developments as well. Companies are increasingly taking action to reduce their environmental footprints by putting policies and procedures in place to lower carbon emissions, use energy more efficiently and decrease waste. We also are seeing innovation across many sectors of the

economy that may help reduce climate change risks. These range from the continued rise of electric vehi-cles to carbon capture technology and the prospects of green hydrogen as an energy source.

Climate change, public health and safety, social inequal-ity—these are key opportunities and risks that we cannot ignore from an investment perspective. We believe inte-grating these factors into our investment process leads to better decision-making and improved outcomes for our investors.

Looking ahead, we are encouraged by the commitments that businesses are making at many levels. And we highlight several in this report.

While ESG investing continues to evolve, our core beliefs remain:

• Companies with both improving business fundamen-tals and risk management of material ESG issues will likely outperform their peers over time.

• ESG analysis complements traditional financial analy-sis and results in a more comprehensive understanding of risk.

• ESG integration, rather than exclusionary screening, leads to better diversification and a more robust oppor-tunity set.

Letter to Shareholders

The Sustainable Equity Team

4 HOW WE INVEST FOR SUSTAINABILITY

5 ENVIRONMENTAL

8 SOCIAL

11 GOVERNANCE

13 ACTIVE OWNERSHIP

17 MEET OUR PEOPLE

19 SUSTAINABILITY IT’S IN OUR GENES

3americancentury.com2020 Sustainability Report

We take the trust you have placed with us seriously. Thank you for investing with us.

Ideal portfolio candidates may lie at the intersection of improving business fundamentals and attractive ESG characteristics.

HOW WE INVEST FOR SUSTAINABILITY

We believe integrating ESG analysis alongside traditional financial evaluation creates a more robust portfolio that may offer the potential to deliver excess returns over time.

We focus on strong, sustainable companies that we believe exhibit both attractive business characteristics and strong ESG profiles. In addition to applying rigorous fundamental research, we seek to identify ESG leaders within each sector and industry based on their management of ESG risks and opportunities. Our goal is to deliver a sustainable large-cap core portfolio and drive performance through security selection.

• Seek to deliver competitive long-term financial returns while integrating material ESG factors into the investment process

• Consider ESG issues alongside traditional financial information to provide a more comprehensive view of the value, risk and return potential of a security

• Construct a sustainable large-cap core portfolio driven by security selection, with minimal cash and non-U.S. exposure

How We Invest for Sustainability 4americancentury.com

ImprovingBusiness

Fundamentals

AttractiveESG

Characteristics

IdealPortfolioCandidates

Environmental metrics reflect how a company affects nature. The companies in which we invest have less impact on the environment and use fewer resources.

ENVIRONMENTAL

Our portfolio holdings compared to the S&P 500 index…

Produce 67% lower green house

gas emissions

Use 36% less energy

Use 40% less water

Generate 97% less waste

This equates to…

38,149 fewer cars on the road

44,748 fewer homes’

annual energy use

28 million fewer gallons

of annual water consumption

50,658 fewer homes annual

waste generation

Environmental 5americancentury.com

Based on portfolio assets under management of $3.3 billion.Data as of 12/31/2020.Source: FactSet, MSCI, Refinitiv.

Typical passenger vehicle carbon dioxide emissions per year (www.epa.gov) 4.6 metric tonnes

Average energy use in the U.S. per home per year 10.65 megawatt-hour

Average water use in the U.S. per home per year 414.50 cubic meters

Average waste generation in the U.S. per home per year 2.980 tons

PUTTING WORDS INTO ACTION

Environmental PolicyMetric Description Portfolio S&P 500 Difference

Greenhouse Gas Emissions (Scope 1 and 2)

Carbon dioxide equivalent emitted in tons by stocks held within the portfolio per $1 million invested

26 80 -67%

Energy Consumption Energy consumed in megawatt-hour per $1 million invested 254 400 -36%

Water Use Water consumed in cubic meters per $1 million invested 48 81 -40%

Waste Generation Waste produced in tons per $1 million invested 1.6 47.8 -97%

Metric Percentage of companies that… Portfolio S&P 500 Difference

Resource Reduction Policy Have a policy for reducing the use of natural resources or to lessen the environmental impact of its supply chain

96% 92% 4%

Renewable Energy Use Use renewable energy 82% 65% 17%

Green Buildings Report environmentally friendly or green sites or offices 71% 61% 10%

Policy Water Efficiency Have policies to improve water efficiency 82% 76% 6%

Policy Energy Efficiency Have policies to improve energy efficiency 95% 87% 8%

Policy Sustainable Packaging Have a policy to improve the use of sustainable packaging 49% 31% 18%

Policy Environmental Supply Chain Have a policy to include its supply chain in the company's efforts to lessen its overall environmental impact

86% 74% 12%

Environment Management Team Have an environmental management team 84% 69% 15%

Environment Management Training Train employees on environmental issues 77% 63% 14%

Environmental Materials Sourcing Use environmental criteria (e.g., life cycle assessment) to source or eliminate materials 62% 52% 10%

Environmental Supply Chain Management Use environmental criteria (ISO 14000, energy consumption, etc.) in the selection process of its suppliers or sourcing partners

81% 72% 10%

Environmental Supply Chain Monitoring Conduct surveys of the environmental performance of its suppliers 68% 52% 17%

Env Supply Chain Partnership Termination Report or show to be ready to end a partnership with a sourcing partner if environmental criteria are not met

53% 38% 14%

Environmental Products Report on at least one product line or service that is designed to have positive effects on the environment, or which is environmentally labeled and marketed

67% 58% 9%

Product Environmental Responsible Use Report about product features and applications or services that will promote responsible, efficient, cost-effective and environmentally preferable use

69% 59% 10%

6americancentury.comEnvironmental

Data as of 12/31/2020.Source: FactSet, Refinitiv.

Portfolio holdings are subject to change.

7americancentury.comEnvironmental

FOCUS ON ESG LEADERS

Environmental

NextEra EnergyNextEra Energy is the world’s largest generator of renewable energy with more than 150 wind and solar energy centers operating in 36 states and four provinces in Canada. For decades, NextEra has been reducing emissions through the development of renewable energy and modernization of its generation fleet.

The company’s goal is to reduce its carbon dioxide (CO2) emissions rate 67% by 2025, from a 2005 baseline. This equates to a nearly 40% reduction in absolute CO2 emissions, despite the company’s total expected electricity production almost doubling from 2005 to 2025. As of year-end 2019, the company has reduced its CO2 rate by 52% and the absolute CO2 tons by 20% while generation increased 68%.

Some 98% of the water used at NextEra’s thermoelectric plants is withdrawn via a once-through cooling system and then returned to its original source. Only two of 30 generation facilities that use water are located in regions of high water stress, and these facilities represent 0.28% of the company’s total water consumption.

Regarding asset integrity measures, we are encouraged by the company focusing on efforts to harden the energy grid and deploy smart grid technol-ogy to become more resistant to potential disruptions. In 2019, it passed a milestone of having hardened or undergrounded 50% of all main distribution power lines. The company replaced wood transmission structures so that 96% are now concrete or steel and all transmission structures will be either steel or concrete by year-end 2022.

PrologisPrologis is a real estate company focusing on warehouses and logistics that has retailers like Amazon and Home Depot as large customers. The company is a renewable energy leader—Prologis not only powers its distribution centers with renewable energy but also rents otherwise wasted rooftop space on its warehouses to utility companies for installation of power-generating solar arrays.

The company is among the largest U.S. corporate solar installers, increasing its solar-generating capacity 46% in the last five years. After surpassing its initial goal of 200 MW of installed solar capacity by 2020, some 1.5 years ahead of schedule, Prologis set a new goal of 400 MWs of installed capacity (an 89% increase) by 2025.

In addition to increasingly using solar energy to power its distribution centers, it is taking other steps to ensure these buildings are as energy efficient as possible. Since 2017, the company has more than doubled its LED coverage and expects to accelerate the transition to 100% LED lighting across its global portfolio of buildings by 2025. In addition to the energy savings, LEDs foster a better work environment by enhancing safety and boosting employee productivity.

Social

Sources: FactSet, Refinitiv as of 12/31/2020. Comparisons are based on the S&P 500 Index®, a measure of 500 selected common stocks most of which are listed on the New York Stock Exchange. The index is not an investment product available for purchase.

Social metrics help shine a light on a company’s relationship with its stake-holders. This may include reviews of human rights, employee relations, work-ing conditions and the use of child labor among customers, suppliers, employees and their community or region.

SOCIAL


Employee Safety Customer Safety Workplace Diversity

95% of portfolio holdings have a health and

safety policy

18% more companies than

benchmark have a policy on customer health and safety

7% higher percentage

of female employees than benchmark

76% fewer workplace

injuries and fatalities

70% fewer product

quality controversies

15% more companies offer flexible working hours


Social PoliciesMetric Percentage of companies that… Portfolio S&P 500 Difference

Policy Skills Training Have a policy to improve the skills training of employees 89% 88% 1%

Policy Career Development Have a policy to improve the career development paths of employees 94% 91% 3%

Policy Diversity and Opportunity Have a policy to drive diversity and equal opportunity 98% 98% -

Targets Diversity and Opportunity Set targets or objectives to be achieved on diversity and equal opportunity 31% 22% 9%

Flexible Working Hours Provide flexible working hours or working hours that promote work-life balance 64% 50% 14%

Day Care Services Provide day care services for employees 51% 31% 19%

Internal Promotion Claim to favor promotion from within 39% 38% 1%

Management Training Provide regular staff and business management training for managers 84% 79% 6%

Supplier ESG training Provide training in ESG factors for suppliers 45% 31% 14%

Employee Resource Groups Have an employee resource group which is voluntarily formed by group of employees with common characteristics like ethnicity, sexual orientation or disability status

69% 54% 15%

Corporate Responsibility Awards Have received an award for its social, ethical, community or environmental activities or performance

76% 65% 11%

Policy Customer Health & Safety Have a policy to protect customer health & safety 59% 40% 19%

Policy Employee Health & Safety Have a policy to improve employee health & safety within the company 89% 90% 1%

Policy Supply Chain Health & Safety Have a policy to improve employee health & safety in its supply chain 72% 63% 9%

Health & Safety Training Train key employees on health & safety 79% 75% 4%

Supply Chain Health & Safety Training Train key employees on health & safety in its supply chain 40% 29% 11%

Employee Health & Safety Team Have an employee health & safety team 66% 59% 7%

9americancentury.comSocial


Portfolio holdings are subject to change.

10americancentury.comSocial

FOCUS ON ESG LEADERS

Social

Home DepotHome Depot is a home improvement retailer with strong policies and proce-dures around sustainable wood sourcing practices and proactive chemical phase-out plans. For example, in 2019 the company eliminated 100% of perfluoroalkyl and polyfluoroalkyl (PFAs) from carpets and rugs sold in the U.S. and Canada.

The company is also committed to reducing its energy demand and used 35% less energy in U.S. stores in 2019 compared to 2010. It is also increasingly tapping into sustainable energy sources such as wind and solar and is committed to reducing carbon emissions 50% by 2035. It has been recog- nized as a global leader on corporate climate action by the Carbon Disclosure Project—one of only 30 U.S. companies to earn a spot on the CDP’s 2018 Climate Change A list.

Home Depot offers generous employee benefits, a success sharing program for non-management associates and the Homer Fund, a nonprofit charity that provides emergency financial assistance to associates facing unforeseen hardships. The Homer Fund has awarded more than $200 million in grants, assisting over 150,000 associates since 1999. Additionally, the company trains and promotes from within as 90% of its store leaders started as hourly associates. Improving diversity and equity is a focus as 33% of company hires were female and over 50% ethnically diverse in 2019.

Finally, the company is committed to giving back to its communities. The Home Depot Foundation is living up to the pledge to invest $500 million in veteran causes by 2025. The foundation has also committed $50 million to train 20,000 tradespeople for the construction industry’s labor pipeline by 2028. Additionally, 54,000 associates donated 315,000 hours to helping their communities in 2019.

Salesforce.comWhile Salesforce.com has little exposure to environmental risks due to the nature of its business in customer relationship management through cloud-based solutions, the company operates as a net-zero greenhouse gas emis-sions company and has achieved or is pursuing green building certification for 65% of its office space. The company also plans to get to 100% renewable energy by fiscal year 2022.

Salesforce offers generous benefits, learning and development programs and is consistently ranked a “best place to work” globally. The company is also focused on equity in the workplace and has set a goal of having 50% of its U.S. workforce made up of Underrepresented Groups (Women, Black, Latinx, Indigenous, Multiracial, LGBTQ+, People with Disabilities, and Veterans) by fiscal year 2024. In 2015, the company made a commitment to ensure equal pay for equal work, spending more than $12 million to address unexplained differences in gender and racial pay disparities in the U.S.

Salesforce has given back to its communities by providing 46,000 nonprofit and higher education organizations with free or discounted service offerings. The company also invested more than $70 million in grants and 1 million employee volunteer hours in fiscal year 2020.

Finally, data security and privacy is extremely important in the cloud-based software space, so Salesforce follows best practices with related certifications for ISO 27001, ISO 27017 and ISO 27018 in addition to compliance with Service Organization Control 2 (SOC 2). The company is certified under the EU-US Privacy Shield Framework and complies with the General Data Protection Regulation (GDPR).

Governance measures highlight policies and practices that encourage corporate board and management diversity and independence, reporting on sustainability and social responsibility and engage-ment with employees, customers and other key stakeholders.

GOVERNANCE

Governance 11americancentury.com

Sources: FactSet, Refinitiv as of 12/31/2020.

0

10

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30

40

50

60

20202019201820172016

5.0

5.5

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6.5

7.0

7.5

8.0

8.5

9.0

9.5

10.0

12/31/209/30/206/30/203/31/2012/31/19

Percentage of Portfolio With 3+ Female Board Members

Percentage of Portfolio With Minority Board Members


Corporate Governance PoliciesMetric Description Portfolio S&P 500 Difference

Employee Training on Ethical Standards Percent of holdings reported having programs or statements on employee training on ethical standards

90% 85% 12%

Independent Board The percentage of portfolio exposed to companies with an independent board majority 97% 98% -1%

Directors Over 70 Portfolio-weighted average of directors over 70 years old 13% 19% -6%

Outside Directors The number of outside board members, excluding board members classified by MSCI ESG Research as “outside-related”

83% 81% 2%

Metric Percentage of companies that… Portfolio S&P 500 Difference

CSR Sustainability Reporting Publish a separate CSR/H&S/Sustainability report or a section in the annual report on CSR/H&S/Sustainability

89% 82% 7%

CSR Sustainability Report Global Activities Take into account the global activities of the company in its extra-financial report 85% 79% 7%

CSR Sustainability Committee Have a CSR (Corporate Social Responsibility) committee or team 78% 71% 6%

GRI Report Guidelines Publish CSR report in accordance with the GRI guidelines 66% 57% 9%

CSR Sustainability External Audit Have an external auditor of its CSR/H&S/Sustainability report 53% 36% 17%

Stakeholder Engagement Explain how it engages with stakeholders 72% 59% 13%

Integrated Strategy in MD&A Explicitly integrate financial and extra-financial factors in its management discussion and analysts (MD&A) section in the annual report

15% 10% 4%

Global Compact Signatory Have signed the UN Global Compact, which is a non-binding United Nations pact to encourage businesses worldwide to adopt sustainable and socially responsible policies, and to report on their implementation

18% 15% 3%

12americancentury.comGovernance


Building relationships with the companies in which we invest helps us gain insight and promote changes that benefit investors.

ACTIVE OWNERSHIP

As a firm, we engage with company management to dig deeper on ESG- related issues we believe could affect a company’s value. We use in-person meetings, conference calls, written communication and industry forums to:

• Understand a company’s approach to ESG risk management, including controversies and associated remedial actions.

• Encourage transparency around material ESG issues.

Through these interactions, we gain insights into a company’s ESG risks that may not be apparent in routine disclosure documents or company literature.

This information is a key input for decisions to maintain, increase, decrease or divest our position in a company.

Engagement

Active Ownership

Based on number of total firm engagements in 2020. Source: American Century Investments.

29% ENVIRONMENTAL• Climate Change• Clean Technology• Biodiversity

• Diversity and Inclusion• Human Capital• Health and Safety

13%GOVERNANCE• Shareholder Rights• Anti-Bribery and Corruption 58%

SOCIAL

2020 American Century Engagement Activity

69 ENGAGEMENTS


Proxy Voting

Active Ownership

Our ESG integration process extends to our proxy voting practices. With a range of inputs, including the Institutional Shareholder Services Socially Responsible Investment (ISS SRI) proxy recommendations, the ESG Proxy team assesses the financial materiality of ESG issues underpinning proposals. Based on this analysis, the team then makes voting recom-mendations to portfolio managers who review and approve the recommendations.

The ESG Proxy team generally recommends support for well-targeted ESG proposals if it believes there is a rational link between a proposal, its economic impact and its potential to maximize long-term shareholder value.

The following chart includes examples of our ESG proxy votes in support of ESG share-holder resolutions and votes against management. We voted in support of a range of topics including, but not limited to, environmental risk management, diversity and best practices related to governance.

As long-term investors, actively engag-ing with our investee companies and voting shares in the best interests of clients are integral components of our investment process and commitment to serving clients.

Based on the total number of ESG votes for the portfolio in 2020. Source: American Century Investments.

29%SOCIAL• Board Diversity• Gender and Racial

Pay Gaps

• Board Independence• Executive Compensation

20%ENVIRONMENTAL• Climate Change Action• GHG Emissions 51%

GOVERNANCE

Portfolio Voted to Support 82% of ESG Shareholder Resolutions

55 ESG VOTES


Examples of ESG Proxy Votes in 2020

15americancentury.comActive Ownership

Goal Company Topic

Climate Change Union Pacific Report on climate change

Environmental Impact Phillips 66 Report on risks of Gulf Coast petro-chemical investments

Product Toxicity and Safety TJX Companies Report on reduction of chemical footprint

Human Rights Apple Report on freedom of expression/access to information

Access to Medicine AbbVie Report on risk related to drug pricing

Reduce Inequalities Amazon Report on products promoting hate speech and sales of offensive products

Reduce Inequalities PayPal Adopt human and indigenous people’s rights policy

Gender Equity Adobe, B of A Report on gender pay gap

Gender/Racial Equity Multiple Companies* Report on gender/racial pay gap

Equal Employment Opportunities Home Depot Prepare employment diversity report

Purpose of a Corporation BlackRock, B of A Report on the statement of the pur-pose of a corporation

Link Executive Pay to Social Criteria Multiple Companies** Assess feasibility of including sustain-ability as a performance measure

* Gender/Racial Equity Proposals: American Express, Intel, JPMorgan, Amazon, Facebook, Alphabet.** Executive Pay Proposals: Apple, Verizon, Alphabet.References to specific securities are for illustrative purposes only and are not intended as recommendations to purchase or sell securities. Opinions and estimates offered constitute our judgment and, along with other portfolio data, are subject to change without notice.

Voted in Favor

Environment

Social

Governance

Our Affiliations and Collaborative InitiativesUnited Nations Principles of Responsible Investing (UNPRI)

As a signatory to UNPRI, the world’s leading proponent of responsible investing, we publicly demonstrate our commitment to including ESG factors into investment decisions and asset ownership. We were one of 30 signatories requested to provide technical comments on UNPRI’s 2020 report titled Investing with SDG Outcomes: A Five-Part Framework.

Investor Stewardship Group (ISG)

As a signatory to the ISG, we commit to the six steward-ship principles for institutional investors as outlined by the ISG framework. We further agree to codify our obli-gations under the framework, and we affirm our respon-sibilities relating to shareholder engagement and proxy voting policies. We will encourage U.S.-listed compa-nies to articulate how their governance structures and practices align with the ISG’s principles. Where we find misalignment, we will seek to understand the differences.

International Corporate Governance Network (ICGN)

We are a member of ICGN’s global initiative and network that promotes effective standards of corporate gover-nance and investor stewardship to advance efficient markets and sustainable economies worldwide.

CFA Institute

We are a signatory to the CFA Institute Asset Manager Code of Professional Conduct and involved with the CFA Institute Center for Financial Market Integrity.

Access to Medicine Foundation

The firm is a signatory to the Access to Medicine Index Investor Statement, working with investors to improve the knowledge of how pharmaceutical companies manage risks and opportunities related to access-to-medicine and antimicrobial resistance (AMR) and utilizing Access to Medicine Foundation research in investment analysis and engagements with companies.

Investors Against Slavery and Trafficking Asia-Pacific (IAST APAC)

American Century is a founding member of IAST APAC, an investor-led initiative that engages with companies in the APAC region to help “find, fix and prevent modern slavery, labor exploitation and human trafficking in their value chains.”

Carbon Disclosure Project (CDP)

The firm is a member of CDP, a global disclosure system that encourages companies and local, state and regional governments to measure and manage their environmental impacts. Investors and purchasers may use this environmental information in their financial decision-making.

Task Force on Climate-Related Financial Disclosures (TCFD)

American Century is a supporter of TCFD, a global organization that develops voluntary, consistent climate-related financial risk disclosures that compa-nies, banks and investors use to share such information with stakeholders.

Pensions for Purpose

As an Influencer in this UK-based global initiative, we are committed to helping raise the profile of impact investment issues through original research, case studies, thought leadership and participation in ESG/sustainability-related events. In 2019, we participated in the organization’s Investing with Impact Summit on a panel titled “Measuring Outcomes from Impact Investing.” Other panelists included representatives of the Church Commissioners for England and a Local Government Pension Scheme.

Nordic Sustainable Investment Platform (NordSIP)

As a member of NordSIP, we contribute thought lead-ership about our sustainable and impact investment strategies to help apprise institutional investors in the Nordics of the potential impacts their investments can make toward solving global issues.

ESG Clarity

We contribute thought leadership and other content to ESGclarity.com, an editorially led website for funds that incorporate ESG thinking into their investment analyses. The platform is intended to share knowledge and help investors assess asset managers’ ESG savvy.

Global Fund Search

This Denmark-based search platform helps institutional asset owners find the best asset managers for their investment mandates. Global Fund Search has high-lighted American Century as an ESG Leader dedicated to sustainable investing.

16americancentury.com2020 Sustainability Report

We strive to build portfolios that align with your investment and sustainability objectives.

MEET OUR PEOPLE

Meet Our People

PORTFOLIO MANAGERS

Joe Reiland, CFA Senior Portfolio Manager

Year BeganIndustry American Century

1995 2000

Justin Brown, CFAPortfolio Manager


1993 2000

Rob BovePortfolio Manager


1994 2005

INVESTMENT ANALYSTS

Scott Renze, CFASenior Investment Analyst


1999 2005

Scott MarolfPortfolio Manager, Senior Investment Analyst


2005 2008

DJ Cross, CFASenior Investment Analyst


2003 2016

CLIENT PORTFOLIO MANAGERS

Jonathan Bauman, CFASenior Client Portfolio Manager


1998 1998

Amanda Rehmann, CIMAClient Portfolio Manager Analyst


2014 2019

Investment Team


*Team as of February 1, 2022.

The ESG and Investment Stewardship team supports portfolio managers and analysts with in-depth research, tools and insights that augment fundamentally driven research. This group gathers deeper insights into ESG issues that investment teams may integrate into their investment processes. It also works closely with investment teams in managing American Century’s ESG engagement and proxy voting practices.

Hannah Herold

ESG Senior Analyst

Human Capital Management

Sharvari Johari

ESG Analyst

Environment,

Technological Advancement

ESG and Investment Stewardship Team

18americancentury.comMeet Our People

Sarah Bratton HughesHead of ESG and Sustainable Investing

Year Began

Aditi PaiESG Associate Analyst

Sustainable Living

Johanna Woldai ESG Associate Analyst

Active Ownership

Industry American Century2007 2022

*Team as of February 1, 2022.

OWNERSHIP STRUCTURE

Enduring, meaningful societal impact

CORPORATE RESPONSIBILITY

Uniquely motivated to give back

ESG AND INVESTMENT STEWARDSHIP

Investment decisions shaped by ESG considerations

SUSTAINABILITY: IT’S IN OUR GENES®

Sustainability isn’t just something we practice; it is part of who we are as a company and as global citizens.

2020 Sustainability Report

Our Unique Ownership Structure Impacts Society in a Meaningful WayWith an ownership structure that directs over 40% of our profits to fund medical research, we attract employees motivated to make a difference and develop investment teams who weigh more than just traditional financial criteria in their analyses.


$1.8B Supporting

Medical Research

6000+ Employee Volunteer

Hours A Year

>80%AUM Incorporating ESG Considerations

Data as of 12/31/2021.

American Century Investment Services, Inc., Distributor CO-BKT-97212 ©2021 American Century Proprietary Holdings, Inc. All rights reserved.

You should consider the investment objectives, risks, and charges and expenses carefully before you invest. The prospectus or summary prospectus, which can be obtained at americancentury.com, con-tains this and other information about the fund, and should be read carefully before investing.The value and/or returns of a portfolio will fluctuate with market and economic conditions. Different investment styles tend to shift in and out of favor depending upon market and economic condi-tions, as well as investor sentiment. A fund may outperform or underperform other funds that employ a different investment style. There is no guarantee that the investment objectives will be met. A strategy or emphasis on environmental, social and governance factors (“ESG”) may limit the investment opportunities available to a portfolio. Therefore, the portfolio may underperform or perform differently than other portfolios that do not have an ESG invest-ment focus. A portfolio’s ESG investment focus may also result in the portfolio investing in securities or industry sectors that perform

differently or maintain a different risk profile than the market gener-ally or compared to underlying holdings that are not screened for ESG standards.International investing involves special risk considerations, including economic and political conditions, inflation rates and currency fluctuations.The information is not intended as a personalized recommenda-tion or fiduciary advice and should not be relied upon for invest-ment, accounting, legal or tax advice.The opinions expressed are those of the portfolio team and are no guarantee of the future performance of any American Century Investments portfolio. This information is for an educational purpose only and is not intended to serve as investment advice. References to specific securities are for illustrative purposes only and are not intended as recommendations to purchase or sell securities. Opinions and estimates offered constitute our judg-ment and, along with other portfolio data, are subject to change without notice.

©2021 Standard & Poor’s Financial Services LLC. The S&P 500® Index is composed of 500 selected common stocks, most of which are listed on the New York Stock Exchange. It is not an investment product available for purchase.

americancentury.com

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Top 10 Holdings (%)Top 10 Holdings (%)

Microsoft CorpMicrosoft Corp 6.656.65 NextEra Energy IncNextEra Energy Inc 2.002.00

Apple IncApple Inc 6.396.39 Prologis IncPrologis Inc 1.831.83

Amazon.com IncAmazon.com Inc 4.474.47 Home Depot Inc/TheHome Depot Inc/The 1.751.75

Alphabet IncAlphabet Inc 3.463.46 PayPal Holdings IncPayPal Holdings Inc 1.581.58

Walt Disney Co/TheWalt Disney Co/The 2.352.35 Bank of America CorpBank of America Corp 1.581.58

As of December 31, 2020.The holdings listed should not be considered recommendations to purchase or sell a particular security.

sustainable equity fund

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