American Century Long-Term Tax-Free I  ACLSX
  Morningstar Report
Overall Morningstar
Rating™
What is this?
As of 2009-10-31
Out of
Muni National Long Funds
Rating derived from a weighted average of the fund's 3, 5, 10-year rating which are based on risk-adjusted performance.
Morningstar®
Style Box™
What is this?
   Avg Duration
   ---
   Avg Credit Quality
   AA
As of 2009-09-30
Day Change
$ 0.01
  
NAV (2009-11-20)
$ 10.80
  
YTD Return % (2009-11-20)
12.02%
  
Total Assets ($ mil)
37
View Data Definitions
  Performance    
Growth of $10,000 Fund: American Century Long-Term Tax-Free I
(from 2006-04-03 to 2009-10-31) Category: Muni National Long
Index: BarCap Municipal TR USD
Total Annualized Returns % 1yr, 3yr and 5yr Returns as of 2009-11-20
Inception date: 2006-04-03 10yr and Inception Returns as of 2009-10-31
YTD Returns as of 2009-11-20
YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Fund 12.02 11.70 3.81 --- --- 4.45
+/- Category -4.17 -2.52 1.77 --- --- ---
+/- BarCap Municipal TR USD -0.12 0.03 -0.44 --- --- ---
Standardized Annual Returns %   more on standardized returns
Quarter-End (as of 2009-09-30) 15.05 16.63 5.06 --- --- 5.44
Month-End (as of 2009-10-31) 11.74 14.02 3.86 --- --- 4.45
After Tax Returns % (as of 2009-09-30 )  
On Distribution --- 14.02 3.86 --- --- ---
On Distribution & Sale of Shares --- 10.71 3.90 --- --- ---
Morningstar Rating --- --- --- --- ---
# of compared funds covered (3 yrs : out of 247 funds), (5 yrs : out of funds), (10 yrs : out of funds). Ratings are based on risk-adjusted performance. The maximum initial sales fee is none, the maximum deferred sales fee is none, and the maximum redemption sales fee is none.
The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate thus an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted herein.
  Portfolio Profile    
Sector Breakdown %
General Obligations 22.49
Advance Refunded ---
State Appropriated Tobacco ---
Non-state Appropriated Tobacco 2.91
Education 3.51
Health 5.27
Housing ---
Industrial ---
Transportation 3.48
Utilities 2.28
Water/Sewer 2.00
Misc. Revenue 58.04
Bond Quality % of Bonds
AAA 29.8
AA 28.9
A 27.7
BBB 12.9
BB 0.0
B 0.7
Below B 0.0
Not Rated 0.0
 
Asset Allocation
% of Net Assets
Cash 0.0
Stocks 0.0
Bonds 98.4
Other 1.6
Foreign Stocks 0.0
(as a % of Assets)
Data through 2009-09-30 Data through 2009-09-30
 
Holding Status
Total Number of Stock Holdings Turnover % 40
Total Number of Bond Holdings 116 30 Day SEC Yield % 3.83
% of Assets in Top 10 Holdings 18.14 ending as of 2009-09-30
View Data Definitions
Top 10 Holdings Maturity
Date		 Amount
$000		 Value
$000		 % of Net
Assets
Orange Cnty Fla Sch Brd Ctfs P Var Cops 2022-08-01 1,100 1,100 2.95
Sarpy Cnty Neb Hosp Auth 2030-07-01 805 805 2.16
Metropolitan Pier & Exposition Rev Bds 2031-12-15 2,425 766 2.06
Allegheny Cnty Pa Indl Dev Aut Leas 4.5% 2011-09-01 675 687 1.84
Central Dauphin Pa Sch Dist 7% 2027-02-01 500 647 1.74
California St Dept Wtr Res Pwr Rev Bd 5% 2022-05-01 500 561 1.51
California St Go Bds 5.75% 2027-04-01 500 550 1.48
California St Go Bds 5.75% 2028-04-01 500 549 1.47
California St Go Bds 5.625% 2026-04-01 500 548 1.47
Milwaukee Wis Redev Auth 5.125% 2020-08-01 475 543 1.46
Data through 2009-09-30
  Other Information
Fund Inception: 2006-04-03
Portfolio Manager  (Start Date)
Steven Permut  (2003-06-30)
Permut is a Senior Vice President and Senior Portfolio Manager, joined American Century Investments in 1987. He became a portfolio manager in 1990. He has shared primary responsibility for the management of the fund since 2006, and has served on teams managing fixed-income investments since joining the advisor. Permut is a member of the National Federation of Municipal Analysts, and the chairman of the California Society of Municipal Analysts.
Alan Kruss  (2008-03-28)
Mr. Kruss, Portfolio Manager, has been a member of the team that manages Government Agency Money Market since November 2001. He joined American Century in 1997 as an Investment Administrator. In 2000, he was named Fixed Income Trader and in 2001, he was named Portfolio Manager. He has a bachelor's degree in finance from San Francisco State University.
Joseph Gotelli  (2008-10-01)
Gotelli is a Portfolio Manager. He joined American Century Investments in 2008. He has shared primary responsibility for the management of the fund, and has served on teams managing fixed-income investments since joining the advisor. Prior to joining American Century Investments, he was an assistant portfolio manager at Franklin Templeton Investments for six years.
Sales Charge %
(taken from prospectus dated 2009-10-01)
Front: None
Deferred: None
Expense Ratio % 0.29
based on net assets
(taken from annual report dated 2009-05-31)
Correspondence Information
4500 Main Street

Kansas City,  MO  64111
USA
Telephone:
800-345-3533
Data on this page does not include the fund's short positions (if any).
Show Data Definitions

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Past performance is no guarantee of future results.
Returns will vary and shares may be worth more or less than their original cost when sold.