American Century Short-Term Govt InvTWUSX

Morningstar Rating

Fund Research and Analysis

by Ryan Leggio

American Century Short-Term Government Bond's recent results are not a cause for concern.

Investors comparing this fund with its short government bond peers might think the managers may be starting to lose their touch: The fund lags a majority of its peers for the year to date through Oct. Read more

Kudos

Modest overall volatility.

Low expenses. Read more

Risks

Long-term relative returns, while on the upswing, are still middling versus its category.

Flexibility to own some nongovernment securities means the fund may take on a tad more risk than the average short-term government-bond fund. Read more

Strategy

This fund follows a risk-averse strategy. Its duration is kept relatively short with respect to its peers'. The managers overweight various government sectors based on where they find the most relative value. Read more

Management

This five-comanager team is led by Bob Gahagan, with Brian Howell the second-longest tenured of the bunch. Newer additions Alejandro Aguilar and Dan Shiffman have made their presence felt, however, and in a positive manner. Aguilar specializes in mortgage bonds and similar fare and has bond-management experience from stints with TIAA-CREF and CalPERS. Read more

Inside Scoop

This fund's returns have been modest longer term, but additions to the management team several years back have improved its fortunes. Read more

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