(PUB) Investing 2015

4

Data through December 31, 2014 American Century Small Cap Value Inv

Ticker

Status Yield Total Assets

Mstar Category

ASVIX Closed 0.5% $1,890 mil

Small Value

Morningstar Analyst Rating 12-24-14

Investment Style Equity Stock %

Historical Profile Return Risk Rating Above Avg Below Avg Above Avg

96% 96% 94% 94% 97% 96% 97% 98% 98%

ˇ

Manager Change Partial Manager Change

15.0 20.0 26.0 33.0

Morningstar Pillars Process Performance

Growth of $10,000

Neutral Neutral Neutral Neutral Neutral

¶ ¶ ¶ ¶ ¶

Investment Values of Fund Investment Values of S&P 500

People Parent Price

10.0

Performance Quartile (within Category) History

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 12-14

Morningstar Analyst Rating Morningstar evaluates mutual funds based on five key pillars, which its analysts believe lead to funds that are more likely to outperform over the long term on a risk-adjusted basis. Analyst Rating Spectrum Œ „ ´ˇ ¨

6.79

9.18

10.17

9.64

9.74

7.57

5.37

7.31

9.01 -6.73 -8.84 -1.23 0.76 -7.49 0.06 0.00 1.24 1.03 75

7.74

8.51

8.87 4.40 -9.29 0.18 0.60 3.80 0.05 1.21 1.22 0.62 111 842 45

NAV

36.11 7.43 -9.92 0.75 35.36

21.81 10.93 -0.44

8.40 3.49 3.69 0.65 7.75 0.03 0.95 1.25 0.32 108 28

15.52 -0.27 -7.96

-27.63 -2.72

38.75 12.29 18.17

24.15 9.09 -0.35 0.84 23.31

16.70 0.70 -1.35 1.54 15.16

34.91

Total Return %

-8.21 7.06 0.99

9.37 1.29 1.42

2.52 0.39 1.11

+/-S&P 500

+/-Russ 2000 Vl Income Return % Capital Return %

0.31

0.63

2.18

21.50

14.89

-29.05 -3.71

36.57

33.80

77

47

58

27

24

20

72

41

61

Total Rtn % Rank Cat

Pillar Spectrum Positive ∞

0.00 0.32 1.25 0.37 104 972

0.05 0.00 1.26 0.59

0.06 1.34 1.25 0.58 111

0.06 1.33 1.25 0.57 121 923

0.09 1.83 1.26 1.01 123 496

0.11 0.02 1.25 1.93 192 794

0.12 0.00 1.25 1.60 104

0.07 0.60 1.24 1.14 120 811

0.12 0.39 1.25 1.17 126 956

Income $

§ Negative

¶ Neutral

Capital Gains $ Expense Ratio % Income Ratio % Turnover Rate % Net Assets $mil

Performance 12-31-14 1st Qtr 2nd Qtr

3rd Qtr

4th Qtr

Total

99

.

2010 2011 2012 2013 2014

9.71 -9.98 9.52 14.78 -6.73 5.22 -3.24 -19.99 14.51 16.70 11.24 -3.90 4.94 4.03 34.91 11.13 2.40 7.17 10.63 4.40 1.54 2.13 -8.26 . .

1,248

1,329

1,281

1,042

846

Portfolio Analysis 09-30-14 Share change since 06-14 Total Stocks:232 Sector

Rating and Risk Time Load-Adj

PE Tot Ret% % Assets

Morningstar

Morningstar Risk vs Cat

Morningstar Risk-Adj Rating

Period Return % Rtn vs Cat

BankUnited Inc

Finan Svs 13.9 -8.81 1.64 Cnsmr Cyc 61.7 32.62 1.54 Technology 23.5 -8.64 1.29 Cnsmr Cyc 3.5 8.05 1.25 Technology 18.6 -8.31 1.22 Hlth care 64.5 -11.18 1.20 Technology 133.3 -25.05 1.12 Finan Svs 14.9 0.30 1.12 Finan Svs 19.7 -12.65 1.07 Finan Svs 21.8 -12.96 1.03 Cnsmr Cyc 29.0 7.49 0.99 Basic Mat 19.2 23.89 0.88 Industrl 25.4 47.38 1.44 Industrl 8.0 -19.58 1.07 Cnsmr Cyc 14.9 -34.63 0.82 Technology 111.1 12.89 0.80 Basic Mat 13.3 -23.35 0.79 Cnsmr Cyc 17.7 -45.28 0.78 Utilities 20.1 34.30 0.79 Utilities 22.6 20.73 0.86

1 Yr 3 Yr 5 Yr

4.40

Trailing

Total

+/-

+/- Russ %Rank Growth of

Berry Plastics Group Inc

Return% S&P 500 2000 Vl

Cat

$10,000

18.01 13.73

Avg Avg

-Avg -Avg -Avg

Multi-Color Corp

3 Mo 6 Mo 1 Yr

9.74 4.81 0.67 -5.45 4.40 -9.29 18.01 -2.40 13.73 -1.72 8.82 1.15 12.96 8.72

0.34 0.66 0.18 -0.28 -0.53 1.93 2.73

15 10,974 30 10,067 45 10,440 53 16,434 64 19,027 14 23,286 6 62,211

Evertec Inc

10 Yr Incept

8.82

+Avg

Entravision Communicatio Mentor Graphics Corp American Science & Engin Valley National Bancorp Global Brass & Copper Ho Texas Capital Bancshares Home BancShares Inc Albany International Cor Innophos Holdings Inc Haemonetics Corp

11.94

3 Yr Avg 5 Yr Avg 10 Yr Avg 15 Yr Avg

Other Measures

Standard Index

Best Fit Index Russ 2000 Vl

S&P 500

Alpha

-4.0 1.12

0.6

Beta

0.92

R-Squared

70

97

Tax Analysis Tax-Adj Rtn% %Rank Cat Tax-Cost Rat %Rank Cat 3 Yr (estimated) 5 Yr (estimated) 10 Yr (estimated) 13.82 72 3.55 94 10.97 72 2.43 92 6.13 49 2.47 98 Potential Capital Gain Exposure: 12% of assets Morningstar’s Take by Gretchen Rupp 12-24-14 American Century Small Cap Value is downgraded to a Morningstar Analyst Rating of Neutral from Silver following the departure of lead manager Ben Giele, who built the fund’s strong long-term record. The current comanagers, Jeff John and Miles Lewis, have a minimal track record managing investments. And although most of the team of analysts remains intact, there’s no guarantee the new managers will be able to replicate Giele’s success. Lewis joined American Century in 2010 as an analyst and had never managed a fund before being named a portfolio manager here in November 2014. John has been on the fund since 2012 and had more overlap with Giele. The duo has big shoes to fill. The fund achieved a solid long-term record under Giele. It gave up some gains in frothy, extended bull markets, but it delivered good downside protection. Over Giele’s tenure from July 1998 to November 2014, the fund’s returns topped the benchmark’s in 60% of three-year rolling periods. The team continues to use the same process. It first screens the universe of small-cap firms on such value

Standard Deviation

12.12 18.01

Mean

Laclede Group Inc Movado Group Inc

Sharpe Ratio

1.43

Riverbed Technology Inc NorthWestern Corp

LSB Industries Inc

measures as price/earnings ratio and dividend yield, looking to uncover businesses selling at a discount to its estimates of fair value with a path to close the discount. It then employs bottom-up fundamentals to make buy and sell decisions. The process favors firms with solid foundations and strong market positions, rather than riskier plays. The result has been milder-than-average volatility compared with the benchmark and category average over the three-, five-, and 10-year periods, as measured by standard deviation and Morningstar Risk ratings. The current team has demonstrated stock-picking skills in the past under Giele. It made a killing on an overweighting to financials in 2009, taking on a timely stake following the collapse of the sector. And the team has done well with its basic-materials picks in 2014, despite that sector’s struggles. Its picks here have returned an average of 6% for the year to date through Nov. 30, 2014, while the sector has lost 6.9%. Those are solid numbers, but the managers still need to prove they can consistently deliver over time.

Cumulus Media Inc Class

Current Investment Style

Sector Weightings

% of Stocks

Rel S&P 500 High

3 Year Low

Market Cap % Giant 0.0 Large 0.0 Mid 5.9 Small 49.7 Micro 44.4 Avg $mil: 1,165

Value Blnd Growth

Large Mid Small

Cyclical 58.62 BasicMat 7.23 CnsmrCyc16.90 FinanSvs 21.53 Real Est 12.96 Sensitive 30.37 CommSrvs 0.22 Energy 5.73 Industrl 12.12 Technlgy 12.30 Defensive11.01 CnsmrDef 1.12 Hlthcare 4.28 Utilities 5.61

. .

h r t y u j i o p a k s d f

8 5

. 20 11 . 25 20 . 13 8

. . .

0 0 7 4

Value Measures Price/Earnings Price/Book Price/Sales Price/Cash Flow Dividend Yield % Long-Term Erngs Book Value Sales Cash Flow Historical Erngs Growth Measures

Rel Category

16.31 1.35 0.96 4.76 2.55

1.10 1.02 1.30 0.88 1.42 0.97 2.98 NMF 0.10 0.16

. 19 12 . 13 9

. . . .

4 1 8 2 6 3

% Rel Category

11.12 4.53 -2.14

Composition - Net

Cash 2.4 Stocks 97.6 Bonds 0.0 Other 0.0 Foreign 4.0

0.67 0.49

Address:

American Century Capital Portfolios Inc Kansas City, MO 64111 800-345-2021

Minimum Purchase: Min Auto Inv Plan:

Closed Closed No-load

Add: . Add: .

IRA: .

Profitability

% Rel Category

Sales Fees:

Return on Equity Return on Assets Net Margin

9.36 2.98 11.07

0.97 0.80 1.30

Web Address: Inception: Advisor: Subadvisor: NTF Plans:

www.americancentury.com

Management Fee:

1.25% mx./1.00% mn. Mgt:1.22% Dist: .

(% of Stock)

07-31-98

Actual Fees:

American Century Inv Mgt, Inc.

Expense Projections: Income Distribution:

3Yr:$413 Quarterly

5Yr:$714 10Yr:$1567

None

Fidelity Retail-NTF, Schwab OneSource

Mutual Funds ß ®

© 2015Morningstar, Inc.All rights reserved.The informationherein is not represented orwarranted tobeaccurate, correct, completeor timely. Pastperformance is no guarantee of future results.Access updated reportsat Toorder reprints, call312-696-6100. mfb.morningstar.com.

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