Fund info

American Century California High Yield Municipal Fund Investor Class is a mutual fund focused on delivering high current income that is generally exempt from both federal and California state income taxes. Its primary strategy is to invest at least 80% of net assets in municipal securities—primarily bonds issued by California municipalities or related entities—with an emphasis on high-yield, below investment-grade debt. This approach provides investors access to higher income potential than typical investment-grade municipal funds, while also exposing them to increased credit risk inherent in lower-rated and unrated bonds. The fund features over 600 individual holdings sourced from a wide range of California’s public infrastructure sectors, including health care, transportation, and education. With a long-standing presence since 1996 and more than $1.5 billion in assets under management, it serves investors seeking tax-advantaged income and diversification within the municipal bond space. The fund distributes monthly income and aims to balance risk and yield, reflecting local economic and political developments that may influence California’s bond market dynamics.