AYMAX

About AYMAX

American Century High Yield Municipal Fund Class A is a mutual fund designed to generate a high level of current income that is generally exempt from federal income taxes. Its primary focus is on investing in high-yield municipal bonds—debt securities issued by states, municipalities, and their agencies that carry ratings below investment grade. The fund aims to provide attractive income potential, while also offering the benefit of tax-exempt distributions, making it particularly relevant for investors seeking tax-advantaged income streams. Although capital appreciation is a secondary goal, the primary objective remains current income. This fund is diversified, typically holding hundreds of municipal securities across various sectors and regions, which helps manage credit and market risks. The portfolio is actively managed by a dedicated team that seeks to balance income generation with risk oversight, given the higher default and liquidity risks associated with lower-rated municipal issuers. It serves an important role in the financial market by supporting infrastructure and public projects through municipal financing while offering investors a way to access tax-free yield within a managed product.