Strategy And Objective

The fund seeks the highest total return consistent with its asset mix. One Choice 2035 Portfolio is a fund of funds, meaning that it seeks to achieve its objective by investing in other American Century mutual funds (the underlying funds) that represent a variety of asset classes and investment styles. The underlying stock funds draw on growth, value and quantitative investment techniques and diversify investments among small, medium and large U.S. and foreign companies. The underlying bond funds invest in fixed-income securities that vary by issuer type (corporate and government), credit quality (investment-grade and high-yield or junk bonds ) and geographic exposure (domestic and international). Short-term investments include underlying funds of fixed-income or debt instruments with a shorter-term weighted average duration, typically three years or less.