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American Century finalizes details on Emerging Markets Debt Fund
By Toni Weeks
San Luis Obispo, Calif., July 23 – American Century International Bond Funds announced the ticker symbols for its new emerging markets fund, the Emerging Markets Debt Fund, which is expected to launch Thursday.
According to an N-1A filing with the Securities and Exchange Commission, American Century is offering A, C, R, R6, investor and institutional share classes. The ticker symbols are AEDQX, AEDHX, AEDWX, AEXDX, AEDVX and AESJX, respectively.
As previously reported, the fund seeks long-term total return. Under normal conditions, it invests at least 80% of its net assets in fixed-income instruments of issuers tied economically to emerging markets. The fund invests in debt instruments issued by foreign governments and corporations. Investments will typically be made in dollar-denominated instruments but may be denominated in local emerging markets currencies. The fund may invest without limitation in both investment-grade and high-yield securities.
The portfolio management team includes Marge Karner, John A. Lovito, Brian Howell and Kevin Akioka.
Class A shares are subject to a sales load of 4.5%, and class C shares will incur a maximum deferred sales load of 1%.
The management fee is 0.76% for institutional class shares and 0.71% for class R6 shares. All other share classes will be assessed a management fee of 0.96%. Including these and the effects of a fee waiver agreement with the investment adviser, total annual fund operating expenses are expected to be 0.97% for investor class shares, 0.77% for institutional class shares, 1.22% for class A shares, 1.97% for class C shares, 1.47% for class R shares and 0.72% for class R6 shares.
Kansas City, Mo.-based American Century Investment Management, Inc. will be the investment adviser.
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