UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant [ X ] Filed by a Party other than the Registrant [ ] Check the appropriate box: [ X ] Preliminary Proxy Statement [ ] Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) [ ] Definitive Proxy Statement [ ] Definitive Additional Materials [ ] Soliciting Material Pursuant to Section 240.14a-l2 AMERICAN CENTURY WORLD MUTUAL FUNDS, INC. ------------------------------------------------------------------------------- (Name of Registrant as Specified In Its Charter) ------------------------------------------------------------------------------- (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): [ X ] No fee required [ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11. 1) Title of each class of securities to which transaction applies: - -------------------------------------------------------------------------------- 2) Aggregate number of securities to which transaction applies: - -------------------------------------------------------------------------------- 3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): - -------------------------------------------------------------------------------- 4) Proposed maximum aggregate value of transaction: - -------------------------------------------------------------------------------- 5) Total fee paid: - -------------------------------------------------------------------------------- [ ] Fee paid previously with preliminary materials. [ ] Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. 1) Amount Previously Paid: - -------------------------------------------------------------------------------- 2) Form, Schedule or Registration Statement No.: - -------------------------------------------------------------------------------- 3) Filing Party: - -------------------------------------------------------------------------------- 4) Date Filed: - --------------------------------------------------------------------------------PROXY STATEMENT APRIL , 2007 IMPORTANT VOTING INFORMATION INSIDE American Century Asset Allocation Portfolios, Inc. American Century Capital Portfolios, Inc. American Century Growth Funds, Inc. American Century Mutual Funds, Inc. American Century Strategic Asset Allocations, Inc. American Century World Mutual Funds, Inc. American Century Variable Portfolios, Inc. AMERICAN CENTURY INVESTMENTS 4500 MAIN STREET KANSAS CITY, MISSOURI 64111 APRIL ___, 2007 Dear Shareholder, I would like to invite you to an upcoming special meeting of shareholders to be held on June 27, 2007 at 10:00 a.m. Shareholders of American Century's equity (growth, value and international) and asset allocation funds are being asked to vote on the election of Directors to the funds' Boards of Directors. Other proposals certain shareholders will be asked to approve include: o Holders of Advisor Class shares of certain funds will be asked to approve a change in the Advisor Class fee structure, o shareholders of the Real Estate Fund will be asked to approve a change to its investment objective, and o shareholders of the Equity Index fund will be asked to approve a new subadvisory agreement between Northern Trust Investments, N.A. and American Century Investment Management, Inc. More detailed information is contained in the enclosed materials. The Boards of Directors of these funds, including all of the Independent Directors, unanimously approved and recommend that you vote FOR the proposals. The proposal to change the Advisor Class fee structure is part of a larger set of initiatives designed to streamline American Century's mutual fund offerings and better align them with investor buying preferences and market opportunities. If these additional initiatives apply to your fund, they will be presented for your consideration and approval in a separate set of proxy materials. Your vote is extremely important, no matter how large or small your holdings. Please review the enclosed materials and vote online, by phone, or by signing and returning your proxy card(s) in the enclosed postage-paid envelope. If we do not hear from you after a reasonable time, you may receive a call from our proxy solicitors, Automatic Data Processing, Inc. (ADP), reminding you to vote. If you have any questions or need assistance in completing your proxy card(s), please contact ADP at 1-877-256-6083. Thank you for investing with American Century Investments. Sincerely, American Century Investments AMERICAN CENTURY FUNDS AMERICAN CENTURY ASSET ALLOCATION PORTFOLIOS, INC. AMERICAN CENTURY CAPITAL PORTFOLIOS, INC. AMERICAN CENTURY GROWTH FUNDS, INC. AMERICAN CENTURY MUTUAL FUNDS, INC. AMERICAN CENTURY STRATEGIC ASSET ALLOCATIONS, INC. AMERICAN CENTURY VARIABLE PORTFOLIOS, INC. AMERICAN CENTURY WORLD MUTUAL FUNDS, INC. IMPORTANT NEWS FOR SHAREHOLDERS While we encourage you to read all of the proxy materials, you will find a brief overview of the proposals below. The overview and accompanying Q&A contain limited information, should be read in conjunction with, and are qualified by reference to, the more detailed information contained elsewhere in the Proxy Statement. o Shareholders of all of the Issuers listed above are being asked to approve the election of nine nominated Directors (the "Nominees") to the Board of Directors of each Issuer. o Holders of Advisor Class shares are being asked to approve a change in the Advisor Class fee structure of the following funds: o Equity Income, Large Company Value, Mid Cap Value, Real Estate, Small Cap Value, and Value, all portfolios of American Century Capital Portfolios, Inc.; o Legacy Large Cap, Legacy Focused Large Cap, and Legacy Multi Cap, all portfolios of American Century Growth Funds, Inc.; o Balanced, Capital Value, Growth, Heritage, Select, Ultra, and Vista, all portfolios of American Century Mutual Funds, Inc.; o Strategic Allocation: Conservative, Strategic Allocation: Moderate, and Strategic Allocation: Aggressive, all portfolios of American Century Strategic Asset Allocations, Inc.; and o Emerging Markets, Global Growth, International Discovery, International Growth, Life Sciences, and Technology, all portfolios of American Century World Mutual Funds, Inc. (each an "Advisor Fund" and together the "Advisor Funds"). o Shareholders of Real Estate are being asked to approve an amendment to the investment objective of Real Estate. o Shareholders of Equity Index are being asked to approve a new subadvisory agreement between Northern Trust Investments, N.A. and the Advisor, American Century Investment Management, Inc. (the "Advisor"). QUESTIONS AND ANSWERS Q. WHEN WILL THE SPECIAL MEETING BE HELD? WHO CAN VOTE? A. The special meeting will be held on Wednesday, June 27, 2007, at 10:00 a.m. Central time at American Century's office at 4500 Main Street, Kansas City, Missouri. Please note, this will be a business meeting only. No presentations about the funds are planned. If you owned shares of one of the impacted funds at the close of business on April 13, 2007, you are entitled to vote, even if you later sold the shares. Each shareholder is entitled to one vote per dollar of shares owned, with fractional dollars voting proportionally. Q. WHO ARE THE NINE NOMINEES? A. The nine Nominees include seven current members of the Boards of Directors (the "Boards"), James E. Stowers Jr., Thomas A. Brown, Andrea C. Hall, Donald H. Pratt, Gale E. Sayers, M. Jeannine Strandjord, and Timothy Webster; an advisory member to the Boards, James Olson; and the current President and Chief Executive Officer of American Century Companies, Inc., and an advisory member to the Boards, Jonathan S. Thomas. Q. WHAT IS THE PROPOSED CHANGE TO THE ADVISOR CLASS FEE STRUCTURE? A. If approved, the change in the Advisor Class fee structure will result in: o A decrease of 25 basis points in the Rule 12b-1 fee charged by the Advisor Class of the Advisor Funds, and o A simultaneous increase of 25 basis points (0.25%) in the unified management fee for the Advisor Class of the Advisor Funds, resulting in no change to the total expense ratio. The increase in the unified management fee and corresponding decrease in the Rule 12b-1 fee are designed to move the fee for the provision of certain shareholder/administrative services from the Rule 12b-1 fee to the unified management fee. This modification will make the fee structure of the Advisor Class shares of the Advisor Funds more consistent with the other share classes of the American Century Funds. Q. HOW WILL THE CHANGE TO THE ADVISOR CLASS FEE STRUCTURE AFFECT MY INVESTMENTS IN THE FUNDS? A. If approved, neither your investment nor your total expense ratio will change. As stated above, if approved the proposal will result in the Advisor Class having a 25 basis point increase in its unified management fee and a simultaneous 25 basis point decrease in the Rule 12b-1 fee, resulting in no change to the Advisor Class's total expense ratio. Q. WILL THE CHANGE TO THE ADVISOR CLASS FEE STRUCTURE CAUSE ME TO PAY ANY SALES CHARGES? A. No. If approved, a front-end charge (load) will be added to the Advisor Class shares of Equity Income, Large Company Value, Real Estate, Value, Heritage, Select, Ultra, Strategic Allocation: Conservative, Strategic Allocation: Moderate, Strategic Allocation: Aggressive, Emerging Markets, Global Growth and International Growth. However, it will not apply to Advisor Class shares held at the time of the change, or subsequently purchased in the same accounts. Q. WHAT IS THE PROPOSED AMENDMENT TO THE INVESTMENT OBJECTIVE OF REAL ESTATE? A. Currently, the fundamental investment objective of Real Estate states that "The fund seeks long-term capital appreciation. Income is a secondary objective." The Board of Directors has proposed to amend the investment objective to state that "The fund seeks high total investment return through a combination of capital appreciation and current income." If approved, the amended investment objective will not identify capital appreciation as "primary" and income as "secondary" objectives of the Fund. Rather, the investment objective of the Fund will be to seek both capital appreciation and production of income while not emphasizing one over the other. Q. HOW WILL THE AMENDMENT TO THE INVESTMENT OBJECTIVE OF REAL ESTATE AFFECT MY INVESTMENT IN REAL ESTATE? A. If the proposal is approved, Real Estate will continue its subadvisory relationship with J.P. Morgan Investment Management, Inc. (the "Subadvisor"). The Subadvisor does not expect the change in the investment objective to affect its investment strategy for the day-to-day management of the Fund or change the risk factors applicable to the Fund. Q. WHY IS THE BOARD OF DIRECTORS PROPOSING A NEW SUBADVISORY AGREEMENT BETWEEN NORTHERN TRUST INVESTMENTS, N.A. AND THE ADVISOR WITH RESPECT TO EQUITY INDEX? A. The Board of Directors of Equity Index is proposing a subadvisory agreement with Northern Trust Investments, N.A. to replace the current subadvisory agreement with Barclay's Global Fund Advisers ("Barclays"). Barclays recently informed the Advisor that in light of Barclays' current business model, Barclays is not interested in continuing to provide subadvisory services to Equity Index. Q. HOW THE BOARDS RECOMMEND THAT I VOTE? A. The Boards, including all of the Independent Directors, unanimously recommend you vote FOR all of the proposals. For a discussion of the factors the Boards considered in approving these proposals, see the accompanying materials. Q. MY HOLDINGS IN THE FUNDS ARE SMALL, WHY SHOULD I VOTE? A. Your vote makes a difference. If many shareholders do not vote their proxies, your fund may not receive enough votes to go forward with its special meeting. This means additional costs will be incurred to solicit votes to determine the outcome of the proposals. Q. WHAT HAPPENS IF ANY ONE OF THE PROPOSALS IS NOT APPROVED BY SHAREHOLDERS? A. Each proposal is separate, and is not dependent upon the approval of any other proposal. However, if a proposal relating to the change in the Advisor Class fee structure does not receive shareholder approval with respect to one or more Advisor Class Funds, then American Century may elect not to proceed with the change for any of the Advisor Funds. Q. WHY ARE MULTIPLE PROXY CARDS ENCLOSED? A. You will receive a proxy card for each of the funds in which you are a shareholder. In addition, if you own shares of the same fund in multiple accounts that are titled differently, you will receive a proxy card for each account. Q. HOW DO I CAST MY VOTE? A. You may vote online, by phone, by mail, by fax or in person at the special meeting. To vote online, access the Web site listed on a proxy card. To vote by telephone, call the toll-free number listed on a proxy card. To vote online or by telephone, you will need the number that appears in the gray box on each of your proxy cards. To vote by mail, complete, sign and send us the enclosed proxy card(s) in the enclosed postage-paid envelope. To vote by fax, complete and sign the proxy card(s) and fax both sides to the toll-free number listed on a proxy card. You also may vote in person at the special meeting on Wednesday, June 27, 2007. If you need more information or have any questions on how to cast your vote, call our proxy solicitor at 1-877-256-6083. YOUR VOTE IS IMPORTANT. PLEASE VOTE TODAY AND AVOID THE NEED FOR ADDITIONAL SOLICITATION EXPENSES. AMERICAN CENTURY ASSET ALLOCATION PORTFOLIOS, INC. AMERICAN CENTURY CAPITAL PORTFOLIOS, INC. AMERICAN CENTURY GROWTH FUNDS, INC. AMERICAN CENTURY MUTUAL FUNDS, INC. AMERICAN CENTURY STRATEGIC ASSET ALLOCATIONS, INC. AMERICAN CENTURY VARIABLE PORTFOLIOS, INC. AMERICAN CENTURY WORLD MUTUAL FUNDS, INC. 4500 Main Street Kansas City, Missouri 64111 Telephone No.: 1-877-345-8836 NOTICE OF SPECIAL MEETING OF SHAREHOLDERS April __, 2007 A special meeting (the "Meeting") of the shareholders of American Century Asset Allocation Portfolios, Inc., American Century Capital Portfolios, Inc., American Century Growth Funds, Inc., American Century Mutual Funds, Inc., American Century Strategic Asset Allocations, Inc., American Century Variable Portfolios, Inc., and American Century World Mutual Funds, Inc., (each an "Issuer" and together the "Issuers") will be held at 10:00 a.m. on June 27, 2007 at 4500 Main Street, Kansas City, Missouri 64111 to consider the following proposals (each, a "Proposal"): 1. To elect nine Directors to the Board of Directors of each Issuer; 2. To approve a change to the fee structure of the Advisor Class of the following American Century funds: Equity Income, Large Company Value, Mid Cap Value, Real Estate, Small Cap Value, and Value, all portfolios of American Century Capital Portfolios, Inc.; Legacy Focused Large Cap, Legacy Large Cap, and Legacy Multi Cap, all portfolios of American Century Growth Funds, Inc.; Balanced, Capital Value, Growth, Heritage, Select, Ultra, and Vista, all portfolios of American Century Mutual Funds, Inc.; Strategic Allocation: Conservative, Strategic Allocation: Moderate, and Strategic Allocation: Aggressive, all portfolios of American Century Strategic Asset Allocations, Inc.; Emerging Markets, Global Growth, International Discovery, International Growth, Life Sciences, and Technology, all portfolios of American Century World Mutual Funds, Inc. (each an "Advisor Fund" and together the "Advisor Funds"); 3. To approve an amendment to the investment objective of Real Estate, a portfolio of American Century Capital Portfolios, Inc. 4. To approve a new subadvisory agreement between Northern Trust Investments, N.A. and American Century Investment Management, Inc. pertaining to the management of Equity Index, a portfolio of American Century Capital Portfolios, Inc. Shareholders of record as of the close of business on April 13, 2007 are entitled to notice of and to vote at the Meeting and any adjournments or postponements thereof. Shareholders of each of the Issuers will vote separately on Proposal 1. Holders of Advisor Class shares of each of the Advisor Funds will vote separately on Proposal 2. Shareholders of Real Estate will vote on Proposal 3. Shareholders of Equity Index will vote on Proposal 4. In the event that a quorum is not present or in the event that a quorum is present but sufficient votes in favor of a Proposal have not been received, the persons named as proxies may propose one or more adjournments of the Meeting to permit further solicitation of proxies as to any Proposal. Any adjournment of the Meeting for the further solicitation of proxies for a Proposal will require the affirmative vote of a majority of the total number of shares entitled to vote on the Proposal that are present in person or by proxy at the Meeting to be adjourned. The persons named as proxies will vote those proxies they are entitled to vote in their discretion as to any such adjournment. A shareholder vote may be taken on any other Proposal on which there is a quorum prior to such adjournment. Such vote will be considered final regardless of whether the Meeting is adjourned to permit additional solicitation with respect to any other Proposal. AMERICAN CENTURY ASSET ALLOCATION PORTFOLIOS, INC. AMERICAN CENTURY CAPITAL PORTFOLIOS, INC. AMERICAN CENTURY GROWTH FUNDS, INC. AMERICAN CENTURY MUTUAL FUNDS, INC. AMERICAN CENTURY STRATEGIC ASSET ALLOCATIONS, INC. AMERICAN CENTURY VARIABLE PORTFOLIOS, INC. AMERICAN CENTURY WORLD MUTUAL FUNDS, INC. 4500 Main Street Kansas City, Missouri 64111 Telephone No.: 1-877-345-8836 PROXY STATEMENT This Proxy Statement is being furnished in connection with the solicitation of proxies by the Boards of Directors (each a "Board" and collectively the "Boards") of American Century Asset Allocation Portfolios, Inc., American Century Capital Portfolios, Inc., American Century Growth Funds, Inc., American Century Mutual Funds, Inc., American Century Strategic Asset Allocations, Inc., American Century Variable Portfolios, Inc., and American Century World Mutual Funds, Inc., (each an "Issuer" and together the "Issuers"). The Boards are soliciting the proxies of shareholders of the Issuers for use in connection with a Special Meeting (the "Meeting") of shareholders that will be held at 10:00 a.m. on June 27, 2007 at 4500 Main Street, Kansas City, Missouri 64111. Each Issuer has one or more funds that are organized as series of the Issuer. Hereafter, such funds will be collectively referred to as the "Funds." The Meeting notice, this Proxy Statement and one or more proxy cards are being sent to shareholders of record as of the close of business on April 13, 2007 (the "Record Date") beginning on or about April 16, 2007. Please read this Proxy Statement and keep it for future reference. Each Fund has previously sent its annual report and semiannual report to its shareholders. A copy of a Fund's most recent annual report and semiannual report may be obtained without charge by writing to, or calling, the applicable Fund at the address and telephone number listed above. If you have any questions regarding this Proxy Statement, please contact Automatic Data Processing, Inc. (ADP), at 1-877-256-6083. TABLE OF CONTENTS PAGE PROXY STATEMENT SUMMARY OF PROPOSALS AND FUNDS VOTING PROPOSAL 1: ELECTION OF DIRECTORS OF THE ISSUERS Overview and Related Information Information Regarding the Nominees Responsibilities of the Boards Standing Board Committees Board Compensation Beneficial Ownership of Affiliates by Proposed Independent Directors Officers Share Ownership Independent Registered Public Accounting Firm Shareholder Approval PROPOSAL 2: APPROVAL OF A CHANGE IN THE FEE STRUCTURE OF THE ADVISOR CLASS SHARES OF THE ADVISOR FUNDS Overview and Related Information Consequences of Approval of the Change in Fee Structure Information Regarding the Advisor Description of the New Advisory Agreement Comparison of the Current Advisory Agreements and the New Advisory Agreements Basis for the Boards' Approval of the New Advisory Agreements Shareholder Approval PROPOSAL 3: APPROVAL OF AN AMENDMENT TO THE INVESTMENT OBJECTIVE OF REAL ESTATE Overview and Related Information Investment Strategy Principal Risks Reasons for the Proposed Change Shareholder Approval PROPOSAL 4: APPROVAL OF A NEW SUBADVISORY AGREEMENT FOR EQUITY INDEX Overview and Related Information Information Regarding the Current Subadvisor and the Proposed Subadvisor Names, Addresses and Principal Occupations Comparison of the Current Subadvisory Agreement and the New Subadvisory Agreement Basis for the Board's Approval of the New Subadvisory Agreement Shareholder Approval OTHER INFORMATION Meetings of Shareholders Date, Time and Place of Meeting Use and Revocation of Proxies Voting Rights and Required Votes Outstanding Shares and Significant Shareholders Other Service Providers WHERE TO FIND ADDITIONAL INFORMATION OTHER MATTERS AND DISCRETION OF ATTORNEYS NAMED IN THE PROXY EXHIBITS EQUITY OWNERSHIP OF NOMINEES EXHIBIT A SIGNIFICANT SHAREHOLDERS EXHIBIT B CURRENT AND PRO FORMA ADVISORY FEES EXHIBIT C INVESTMENT SUBADVISORY AGREEMENT EXHIBIT D SUMMARY OF PROPOSALS AND FUNDS VOTING The following table describes the proposals (each a "Proposal" and together the "Proposals") to be considered at the Meeting and the shareholders that are entitled to vote on each Proposal: - ------------------------------------ ----------------------------------- ----------------------- -------------- PROPOSAL ISSUERS SOLICITED FUNDS SOLICITED CLASSES SOLICITED - ------------------------------------ ----------------------------------- ----------------------- -------------- 1. To elect nine Directors to the All Issuers All Funds All Classes Board of Directors of each Issuer. - ------------------------------------ ----------------------------------- ----------------------- -------------- 2. To approve a change to the The Advisor Issuers: The Advisor Funds: Advisor Class Advisor Class fee structure. - ------------------------------------ ----------------------------------- ----------------------- -------------- American Century Capital Equity Income, Large Advisor Class Portfolios, Inc. Company Value, Mid Cap Value, Real Estate, Small Cap Value, Value - ------------------------------------ ----------------------------------- ----------------------- -------------- American Century Growth Funds, Inc. Legacy Focused Large Advisor Class Cap, Legacy Large Cap, Legacy Multi Cap - ------------------------------------ ----------------------------------- ----------------------- -------------- American Century Mutual Funds, Inc. Balanced, Capital Advisor Class Value, Growth, Heritage, Select, Ultra, Vista - ------------------------------------ ----------------------------------- ----------------------- -------------- American Century Strategic Asset Strategic Allocation: Advisor Class Allocations, Inc. Conservative, Strategic Allocation: Moderate, Strategic Allocation: Aggressive - ------------------------------------ ----------------------------------- ----------------------- -------------- American Century World Mutual Emerging Markets, Advisor Class Funds, Inc. Global Growth, International Discovery, International Growth, Life Sciences, Technology - ------------------------------------ ----------------------------------- ----------------------- -------------- 3. To approve an amendment to the American Century Capital Real Estate All Classes investment objective of Real Estate. Portfolios, Inc. - ------------------------------------ ----------------------------------- ----------------------- -------------- 4. To approve a new subadvisory American Century Capital Equity Index All Classes agreement between Northern Trust Portfolios, Inc. Investments, N.A. and American Century Investment Management, Inc. pertaining to the management of Equity Index. - ------------------------------------ ----------------------------------- ----------------------- -------------- Shareholders of record on the Record Date are entitled to vote at the Meeting and are entitled to vote at any adjournments or postponements thereof. Shareholders of each Issuer will vote separately on Proposal 1. Holders of Advisor Class shares of each of the Advisor Funds will vote separately on Proposal 2. Shareholders of Real Estate will vote on Proposal 3 and shareholders of Equity Index will vote on Proposal 4. The Boards recommend that you vote "FOR" each Proposal. PROPOSAL 1 ELECTION OF DIRECTORS OF THE ISSUERS OVERVIEW AND RELATED INFORMATION Each of the following seven (7) individuals currently serves on the Boards: James E. Stowers Jr., Thomas A. Brown, Andrea C. Hall, Donald H. Pratt, Gale E. Sayers, M. Jeannine Strandjord, and Timothy Webster. Additionally, James A. Olson and Jonathan S. Thomas currently serve as advisory members to the Boards. The current nominating members of the Boards have nominated the seven Directors listed above, along with Mr. Olson and Mr. Thomas for election to the Boards. Hereafter the seven (7) current members of the Boards, along with Mr. Olson and Mr. Thomas, will be referred to as the "Directors" or the "Nominees." It is being proposed that the shareholders of each Issuer approve the Nominees. If approved by the shareholders, each Nominee will serve indefinitely as a Director of each Board until his or her death, retirement, resignation or removal from office. The mandatory retirement age for Directors who are not "interested persons" as that term is defined in the Investment Company Act of 1940, as amended (the "1940 Act") is 72. However, the mandatory retirement age may be extended for a period not to exceed two years with the approval of the remaining Independent Directors. Each Director currently oversees 66 Funds, which are all series of the Issuers. In addition, Mr. Thomas oversees an additional 43 funds as an advisory board member for other American Century Funds. Further information regarding each of the Nominees is listed below. James E. Stowers Jr. and Jonathan S. Thomas are the only Nominees who are "interested persons" as that term is defined in the 1940 Act because Mr. Stowers currently serves as Co-Chairman and Mr. Thomas serves as President and Chief Executive Officer, of American Century Companies, Inc., the parent company of the Advisor. The remaining Nominees are not "interested persons" under the 1940 Act and therefore will be referred to as "Independent Directors." The persons named as proxies on the enclosed proxy card(s) will vote for the election of all of the Nominees unless authority to vote for any or all of the Nominees is withheld. All of the Nominees have consented to serve as directors, if elected. In case a Nominee shall be unable or shall fail to act as a director by virtue of an unexpected occurrence, persons named as proxies will vote in their discretion for such other nominee or nominees as the current Directors may recommend. INFORMATION REGARDING THE NOMINEES The following table presents certain information about the Nominees. The mailing address for each Nominee is 4500 Main Street, Kansas City, Missouri 64111. NAME OFFICES LENGTH OF PRINCIPAL OCCUPATION DURING THE PAST NUMBER OF OTHER DIRECTORSHIPS WITH THE TIME SERVED FIVE YEARS FUNDS IN FUND HELD BY DIRECTOR ISSUERS COMPLEX OVERSEEN BY DIRECTOR - ----------------- ---------- ------------ ------------------------------------- ------------- ----------------- INTERESTED NOMINEES - ----------------- ---------- ------------ ------------------------------------- ------------- ----------------- James E. Stowers Director, Since 1958 Founder, Co-Chairman, Director and 66 None Jr.* Vice Controlling Shareholder, ACC; Year of Birth: Chairman Co-Vice Chairman, ACC (January 2005 1924 to February 2007); Chairman, ACC (January 1995 to December 2004); Director, ACIM, ACGIM, ACS, ACIS and other ACC subsidiaries - ----------------- ---------- ------------ ------------------------------------- ------------- ----------------- Jonathan S. Advisory Since 2007 President and Chief Executive 109 None Thomas** Board Officer, AMERICAN CENTURY COMPANIES, Year of Birth: Member and INC. ("ACC") (March 2007 to 1963 President present); Chief Administrative Officer, ACC (February 2006 to February 2007); Executive Vice President, ACC (November 2005 to February 2007). Also serves as: President, Chief Executive Officer and Director, AMERICAN CENTURY SERVICES, LLC ("ACS"); Executive Vice President AMERICAN CENTURY INVESTMENT MANAGEMENT ("ACIM"), AMERICAN CENTURY GLOBAL INVESTMENT MANAGEMENT ("ACGIM"); Director, ACIM, ACGIM, ACIS and other ACC subsidiaries; Managing Director, MORGAN STANLEY (March 2000 to November 2005) - ----------------- ---------- ------------ ------------------------------------- ------------- ----------------- INDEPENDENT NOMINEES - ----------------- ---------- ------------ ------------------------------------- ------------- ----------------- Thomas A. Brown Director Since 1980 Managing Member, ASSOCIATED 66 None Year of Birth: INVESTMENTS, LLC; Managing Member, 1940 BROWN CASCADE PROPERTIES, LLC; Retired, Area Vice President, APPLIED INDUSTRIAL TECHNOLOGIES - ----------------- ---------- ------------ ------------------------------------- ------------- ----------------- Andrea C. Hall Director Since 1997 Retired, Advisor to the President, 66 None Year of Birth: MIDWEST RESEARCH INSTITUTE 1945 - ----------------- ---------- ------------ ------------------------------------- ------------- ----------------- James A. Olson Advisory Since 2006 Member, PLAZA BELMONT LLC; Chief 66 Director, SAIA, INC. Year of Birth: Board Member Financial Officer, PLAZA BELMONT LLC and ENTERTAINMENT 1942 (September 1999 to September 2006) PROPERTIES TRUST - ----------------- ---------- ------------ ------------------------------------- ------------- ----------------- Donald H. Pratt Director, Since 1995 Chairman and Chief Executive 66 None Year of Birth: Chairman of Officer, WESTERN INVESTMENTS, INC.; 1937 the Board Retired Chairman of the Board, BUTLER MANUFACTURING COMPANY - ----------------- ---------- ------------ ------------------------------------- ------------- ----------------- Gale E. Sayers Director Since 2000 President, Chief Executive Officer 66 Director, TRIAD Year of Birth: and Founder, SAYERS40, HOSPITALS, INC. 1943 INC., a technology products and services provider - ----------------- ---------- ------------ ------------------------------------- ------------- ----------------- M. Jeannine Director Since 1994 Retired, formerly Senior Vice 66 Director, DST SYSTEMS Strandjord President, SPRINT CORPORATION INC., Director, EURONET Year of Birth: WORLDWIDE INC, Director, 1945 CHARMING SHOPPES, INC. - ----------------- ---------- ------------ ------------------------------------- ------------- ----------------- Timothy S. Webster Director Since 2001 Managing Director, TDB ACQUISITION 66 None Year of Birth: GROUP LLC (September 2006 to 1961 present); President and Chief Executive Officer, AMERICAN ITALIAN PASTA COMPANY (2001 to December 2005) - ----------------- ---------- ------------ ------------------------------------- ------------- ----------------- * JAMES E. STOWERS JR. IS AN "INTERESTED" DIRECTOR OF THE ISSUERS FOR PURPOSES OF THE 1940 ACT AS HE IS CO-CHAIRMAN OF AMERICAN CENTURY COMPANIES, INC. ** JONATHAN S. THOMAS IS AN "INTERESTED" DIRECTOR OF THE ISSUERS FOR PURPOSES OF THE 1940 ACT AS HE IS PRESIDENT AND CHIEF EXECUTIVE OFFICER OF AMERICAN CENTURY COMPANIES, INC. RESPONSIBILITIES OF THE BOARDS The Boards oversee the management of the Issuers and the Funds and meet at least quarterly to review reports about fund operations. Although the Boards do not manage the Funds, they have hired American Century Investment Management, Inc., or an affiliated company (the "Advisor"), to do so. The Boards, in carrying out their fiduciary duty under the 1940 Act, are responsible for approving new and existing management contracts with the Advisor. The Boards have the authority to manage the business of the Issuers on behalf of their investors, and they have all powers necessary or convenient to carry out that responsibility. Consequently, the Boards may adopt bylaws providing for the regulation and management of the affairs of the Issuers and may amend and repeal them to the extent that such bylaws do not reserve that right to the Issuers' investors. They may fill vacancies in or reduce the number of board members, and may elect and remove such officers and appoint and terminate such agents as they consider appropriate. They may appoint from their own number and establish and terminate one or more committees consisting of two or more directors who may exercise the powers and authority of the Boards to the extent that the directors determine. They may, in general, delegate such authority as they consider desirable to any officer of the Issuers, to any committee of the Boards and to any agent or employee of the Issuers or to any custodian, transfer or investor servicing agent, or principal underwriter. Any determination as to what is in the interests of the Issuers made by the directors in good faith shall be conclusive. The Boards met five times in 2006. STANDING BOARD COMMITTEES Each Board has five standing committees which oversee specific functions of the Issuer's operations. The Executive Committee performs the functions of the Board between board meetings, subject to the limitations on its power set out in the Maryland General Corporation Law and except for matters requiring the action of the entire Board under the 1940 Act. The Executive Committee currently consists of Donald H. Pratt and M. Jeannine Strandjord. The Executive Committee did not meet in 2006. Each Board has an Audit Committee, which approves the Issuer's engagement of the independent registered public accounting firm and recommends approval of such engagement to the Independent Directors. The Audit Committee also oversees the activities of the accounting firm and receives reports from the Advisor's internal audit department. The Audit Committee currently consists of Thomas A. Brown, Donald H. Pratt and Gale E. Sayers. The Audit Committee met four times in 2006. Each Board has a Governance Committee which is primarily responsible for considering and recommending individuals for nomination as directors. The names of potential director candidates may be drawn from a number of sources, including recommendations from members of the Board, management (in the case of interested directors only) and shareholders. Shareholders may submit director nominations to the Corporate Secretary, American Century Funds, P.O. Box 410141, Kansas City, MO 64141. All such nominations will be forwarded to the committee for consideration. The committee also reviews and makes recommendations to the Board with respect to the composition of board committees and other board-related matters such as its organization, size, composition, responsibilities, functions and compensation. The Governance Committee currently consists of Donald H. Pratt, Andrea C. Hall, and Gale E. Sayers. The Governance Committee of the Boards met two times in 2006. Each Board also has a Compliance and Shareholder Communications Committee, which reviews the results of the Fund's compliance testing program and reviews quarterly reports from a communications advisor. The quarterly reports from the communications advisor address various compliance matters and monitor the implementation of the Funds' code of ethics. The Compliance and Shareholder Communications Committee currently consists of Andrea C. Hall, James A. Olson and M. Jeannine Strandjord. The Compliance and Shareholder Communications Committee met four times in 2006. Finally, the Fund Performance Review Committee meets quarterly to review the investment activities and strategies used to manage fund assets. The committee regularly receives reports from portfolio managers, credit analysts and other investment personnel concerning the Funds' investments. The Portfolio Committee currently consists of Timothy S. Webster, Thomas A. Brown, Andrea C. Hall, James A. Olson, Donald H. Pratt, Gale E. Sayers, and M. Jeannine Strandjord. The Fund Performance Review Committee met four times in 2006. BOARD COMPENSATION Each Independent Director receives compensation for service as a member of the Boards based on a schedule that takes into account the number of meetings attended and the assets of the Funds for which the meetings are held. These fees and expenses are allocated to the Issuers based in part on their relative net assets. Under the terms of each management agreement with the Advisor, the Funds are responsible for paying such fees and expenses. For each Issuer's last fiscal year, each Issuer and the American Century Family of Funds paid the following amounts to the Independent Directors: - ------------------- ---------- ----------- ----------- ----------- ------------ ---------- ----------- ----------- FYE OF THOMAS A. ANDREA C. JAMES A. DONALD H. GALE E. M. JEANNINE TIMOTHY ISSUER ISSUER BROWN HALL OLSON(1) PRATT SAYERS STRANDJORD WEBSTER - ------------------- ---------- ----------- ----------- ----------- ------------ ---------- ----------- ----------- American Century Asset Allocation 7/31/2006 $478 $517 $183 $670 $466 $472 $524 Portfolios, Inc. - ------------------- ---------- ----------- ----------- ----------- ------------ ---------- ----------- ----------- Total Compensation from the American $97,667 $105,666 $30,167 $137,167 $96,666 $98,166 $106,667 Century Family of Funds(2) - ------------------- ---------- ----------- ----------- ----------- ------------ ---------- ----------- ----------- American Century Capital 3/31/2006 $21,347 $23,004 $2,498 $30,102 $21,066 $21,070 $23,004 Portfolios, Inc. - ------------------- ---------- ----------- ----------- ----------- ------------ ---------- ----------- ----------- Total Compensation from the American $97,000 $104,500 $11,000 $136,750 $96,000 $96,000 $104,500 Century Family of Funds(3) - ------------------- ---------- ----------- ----------- ----------- ------------ ---------- ----------- ----------- American Century Growth Funds, 7/31/2006 $27 $29 $9 $39 $27 $28 $30 Inc. (4) - ------------------- ---------- ----------- ----------- ----------- ------------ ---------- ----------- ----------- Total Compensation from the American $97,668 $105,666 $30,167 $137,168 $96,666 $98,166 $106,668 Century Family of Funds(5) - ------------------- ---------- ----------- ----------- ----------- ------------ ---------- ----------- ----------- American Century Mutual Funds, Inc. 10/31/2006 $49,006 $53,283 $21,404 $68,875 $48,762 $49,283 $53,542 - ------------------- ---------- ----------- ----------- ----------- ------------ ---------- ----------- ----------- Total Compensation from the American $97,666 $106,167 $43,667 $137,167 $97,167 $98,167 $106,667 Century Family of Funds(6) - ------------------- ---------- ----------- ----------- ----------- ------------ ---------- ----------- ----------- American Century Strategic Asset 11/30/2006 $6,394 $6,948 $3,144 $8,971 $6,359 $6,422 $6,983 Allocations, Inc. - ------------------- ---------- ----------- ----------- ----------- ------------ ---------- ----------- ----------- Total Compensation from the American $97,833 $106,333 $47,333 $137,333 $97,333 $98,333 $106,833 Century Family of Funds(7) - ------------------- ---------- ----------- ----------- ----------- ------------ ---------- ----------- ----------- American Century Variable 12/31/2006 $8,712 $9,396 $4,867 $12,044 $8,670 $8,669 $9,393 Portfolios, Inc. - ------------------- ---------- ----------- ----------- ----------- ------------ ---------- ----------- ----------- Total Compensation from the American $101,999 $110,000 $57,000 $141,000 $101,500 $101,500 $110,000 Century Family of Funds(8) - ------------------- ---------- ----------- ----------- ----------- ------------ ---------- ----------- ----------- American Century World Mutual 11/30/2006 $8,864 $9,635 $4,333 $12,444 $8,819 $8,902 $9,680 Funds, Inc. - ------------------- ---------- ----------- ----------- ----------- ------------ ---------- ----------- ----------- Total Compensation from the American $97,833 $106,333 $47,333 $137,333 $97,333 $98,333 $106,833 Century Family of Funds(9) - ------------------- ---------- ----------- ----------- ----------- ------------ ---------- ----------- ----------- (1) MR. OLSON WAS PAID AS AN ADVISORY BOARD MEMBER. (2) INCLUDES COMPENSATION PAID BY THE INVESTMENT COMPANIES OF THE AMERICAN CENTURY FAMILY OF FUNDS SERVED BY THIS BOARD FOR THE ONE YEAR PERIOD ENDED 7/31/2006. THE TOTAL AMOUNT OF DEFERRED COMPENSATION INCLUDED IN THE PRECEDING TABLE IS AS FOLLOWS: MR. BROWN, $17,434; DR. HALL, $96,166; MR. OLSON, $30,167; MR. PRATT, $18,926; MR. SAYERS, $96,666; AND MR. WEBSTER, $35,309. (3) INCLUDES COMPENSATION PAID BY THE INVESTMENT COMPANIES OF THE AMERICAN CENTURY FAMILY OF FUNDS SERVED BY THIS BOARD FOR THE ONE YEAR PERIOD ENDED 3/31/2006. THE TOTAL AMOUNT OF DEFERRED COMPENSATION INCLUDED IN THE PRECEDING TABLE IS AS FOLLOWS: MR. BROWN, $17,300; DR. HALL, $95,500; MR. OLSON, $11,000; MR. PRATT, $18,825, MR. SAYERS $96,000 AND MR. WEBSTER, $44,975. (4) INCLUDES COMPENSATION PAID TO THE DIRECTORS FROM AUGUST 1, 2006 TO DECEMBER 31, 2006, AND ESTIMATED FUTURE PAYMENTS FOR SIX-MONTH PERIOD (FROM JANUARY 1, 2007 TO JULY 31, 2007) BECAUSE THE FUNDS HAVE NOT BEEN IN EXISTENCE FOR A FULL FISCAL YEAR. IT ALSO INCLUDES ACTUAL AND ESTIMATED AMOUNTS DEFERRED AT THE ELECTION OF THE DIRECTORS UNDER AMERICAN CENTURY MUTUAL FUNDS' INDEPENDENT DIRECTORS' DEFERRED COMPENSATION PLAN. (5) INCLUDES COMPENSATION PAID BY THE INVESTMENT COMPANIES OF THE AMERICAN CENTURY FAMILY OF FUNDS SERVED BY THIS BOARD FOR THE ONE YEAR PERIOD ENDED 7/31/2006. THE ESTIMATED TOTAL AMOUNT OF DEFERRED COMPENSATION INCLUDED IN THE PRECEDING TABLE IS AS FOLLOWS: MR. BROWN, $17,434; DR. HALL, $96,166; MR. OLSON, $30,167; MR. PRATT, $18,926, MR. SAYERS $96,666 AND MR. WEBSTER, $35,309. (6) INCLUDES COMPENSATION PAID BY THE INVESTMENT COMPANIES OF THE AMERICAN CENTURY FAMILY OF FUNDS SERVED BY THIS BOARD FOR THE ONE YEAR PERIOD ENDED 10/31/2006. THE TOTAL AMOUNT OF DEFERRED COMPENSATION INCLUDED IN THE PRECEDING TABLE IS AS FOLLOWS: MR. BROWN, $17,533; DR. HALL, $96,667; MR. OLSON, $43,667; MR. PRATT, $19,000; MR. SAYERS, $97,167; AND MR. WEBSTER, $27,433. (7) INCLUDES COMPENSATION PAID BY THE INVESTMENT COMPANIES OF THE AMERICAN CENTURY FAMILY OF FUNDS SERVED BY THIS BOARD FOR THE ONE YEAR PERIOD ENDED 11/30/2006. THE TOTAL AMOUNT OF DEFERRED COMPENSATION INCLUDED IN THE PRECEDING TABLE IS AS FOLLOWS: MR. BROWN, $17,566; DR. HALL, $96,833; MR. OLSON, $47,333; MR. PRATT, $19,025; MR. SAYERS, $97,333; AND MR. WEBSTER, $25,092. (8) INCLUDES COMPENSATION PAID BY THE INVESTMENT COMPANIES OF THE AMERICAN CENTURY FAMILY OF FUNDS SERVED BY THIS BOARD FOR THE ONE YEAR PERIOD ENDED 12/31/2006. THE TOTAL AMOUNT OF DEFERRED COMPENSATION INCLUDED IN THE PRECEDING TABLE IS AS FOLLOWS: MR. BROWN, $17,599; DR. HALL, $97,000; MR. OLSON, $57,000; MR. PRATT, $19,050; MR. SAYERS, $101,500; AND MR. WEBSTER, $22,600. (9) INCLUDES COMPENSATION PAID BY THE INVESTMENT COMPANIES OF THE AMERICAN CENTURY FAMILY OF FUNDS SERVED BY THIS BOARD FOR THE ONE YEAR PERIOD ENDED 11/30/2006. THE TOTAL AMOUNT OF DEFERRED COMPENSATION INCLUDED IN THE PRECEDING TABLE IS AS FOLLOWS: MR. BROWN, $17,566; DR. HALL, $96,833; MR. OLSON, $47,333; MR. PRATT, $19,025; MR. SAYERS, $97,333; AND MR. WEBSTER, $25,092. NOTE: NONE OF THE INTERESTED DIRECTORS OR OFFICERS OF THE FUNDS RECEIVE COMPENSATION FROM THE FUNDS. The Issuers have adopted the American Century Mutual Funds' Independent Directors' Deferred Compensation Plan. Under the plan, the Independent Directors may defer receipt of all or any part of the fees to be paid to them for serving as Directors of the Funds. All deferred fees are credited to an account established in the name of the directors. The amounts credited to the account then increase or decrease, as the case may be, in accordance with the performance of one or more of the American Century Funds that are selected by the director. The account balance continues to fluctuate in accordance with the performance of the selected Fund or Funds until final payment of all amounts credited to the account. Directors are allowed to change their designation of Funds from time to time. No deferred fees are payable until such time as a director resigns, retires or otherwise ceases to be a member of the Board. Directors may receive deferred fee account balances either in a lump sum payment or in substantially equal installment payments to be made over a period not to exceed 10 years. Upon the death of a director, all remaining deferred fee account balances are paid to the director's beneficiary or, if none, to the director's estate. The plan is an unfunded plan and, accordingly, the Funds have no obligation to segregate assets to secure or fund the deferred fees. To date, the Funds have voluntarily funded their obligations. The rights of directors to receive their deferred fee account balances are the same as the rights of a general unsecured creditor of the Funds. The plan may be terminated at any time by the administrative committee of the plan. If terminated, all deferred fee account balances will be paid in a lump sum. Exhibit A to this Proxy Statement shows the dollar range the Nominees beneficially owned as of December 31, 2006 in the equity securities in any of the Funds, and, on an aggregate basis, equity securities in all of the Issuers. On December 23, 1999, American Century Services, LLC (ACS), an affiliate of the Advisor entered into an agreement with DST Systems, Inc. (DST) under which DST would provide back office software and support services for transfer agency services provided by ACS (the "Agreement"). ACS pays DST fees based in part on the number of accounts and the number and type of transactions processed for those accounts. For the twelve months ended December 31, 2006, DST received $22,142,003 in fees from ACS. DST's revenue for the calendar year ended December 31, 2006, was approximately $2.24 billion. Ms. Strandjord is a director of DST and a holder of 35,383 shares and possesses options to acquire an additional 55,875 shares of DST common stock, the sum of which is less than one percent (1%) of the shares outstanding. Because of her official duties as a director of DST, she may be deemed to have an "indirect interest" in the Agreement. However, the Boards were not required to nor did they approve or disapprove the Agreement, since the provision of the services covered by the Agreement is within the discretion of ACS. DST was chosen by ACS for its industry-leading role in providing cost-effective back office support for mutual fund service providers such as ACS. DST is the largest mutual fund transfer agent, servicing more than 75 million mutual fund accounts on its shareholder recordkeeping system. Ms. Strandjord's role as a director of DST was not considered by ACS; she was not involved in any way with the negotiations between ACS and DST; and her status as a director of either DST or the Funds was not a factor in the negotiations. The Boards and counsel to the Independent Directors of the Funds have concluded that the existence of this Agreement does not impair Ms. Strandjord's ability to serve as an independent director under the 1940 Act. BENEFICIAL OWNERSHIP OF AFFILIATES BY PROPOSED INDEPENDENT DIRECTORS No Independent Director or his or her immediate family members beneficially owned shares of the Advisor, the Issuers' principal underwriter or any other person directly or indirectly controlling, controlled by, or under common control with the Advisor or the Issuers' principal underwriter as of December 31, 2006. OFFICERS The following table presents certain information about the executive officers of the Issuers. Each officer serves as an officer for each of the 15 investment companies advised by the Advisor or by American Century Global Investment Management, Inc., a wholly owned subsidiary of the Advisor, unless otherwise noted. No officer is compensated for his or her service as an officer of the Funds. The listed officers are interested persons of the Funds and are appointed or re-appointed on an annual basis. The mailing address for each of the officers listed below is 4500 Main Street, Kansas City, Missouri 64111. - ----------------------- -------------------------- ---------------------------------- NAME OFFICES WITH THE ISSUERS PRINCIPAL OCCUPATION DURING THE FIRST YEAR OF SERVICE PAST FIVE YEARS - ----------------------- -------------------------- ---------------------------------- Jonathan S. Thomas Advisory Board Member President and Chief Executive and President since 2007 Officer, American Century Companies, Inc. ("ACC") (March 2007 to present); Chief Administrative Officer, ACC (February 2006 to February 2007); Executive Vice President, ACC (November 2005 to February 2007). Also serves as: President, Chief Executive Officer and Director, American Century Services, LLC ("ACS"); Executive Vice President, American Century Investment Management ("ACIM"), American Century Global Investment Management ("ACGIM"); Director, ACIM, ACGIM, ACIS and other ACC subsidiaries; Managing Director, Morgan Stanley (March 2000 to November 2005) - ----------------------- -------------------------- ---------------------------------- Maryanne L. Roepke Chief Compliance Officer Chief Compliance Officer, ACIM, since 2006 and Senior ACGIM and ACS (August 2006 to Vice President since 2000 present); Assistant Treasurer, ACC (January 1995 to August 2006); and Treasurer and Chief Financial Officer, various American Century funds (July 2000 to August 2006). Also serves as: Senior Vice President, ACS - ----------------------- -------------------------- ---------------------------------- Charles A. Etherington Senior Vice President Attorney, ACC (February 1994 to since 2006 and General present); General Counsel, ACC Counsel since 2007 (March 2007 to present); Senior Vice President and General Counsel, ACIM, ACGIM, ACS and other ACC subsidiaries. - ----------------------- -------------------------- ---------------------------------- Robert J. Leach Vice President, Vice President, ACS (February 2000 Treasurer and to present); and Controller, Chief Financial Officer various American Century funds since 2006 (1997 to September 2006) - ----------------------- -------------------------- ---------------------------------- C. Jean Wade Controller since 1996 Vice President, ACS (February 2000 to present) - ----------------------- -------------------------- ---------------------------------- Jon W. Zindel Tax Officer since 1998 Chief Financial Officer and Chief Accounting Officer, ACC (March 2007 to present); Vice President, ACC (October 2001 to present); Vice President, certain ACC subsidiaries (July 2001 to August 2006); Vice President, Corporate Tax, ACS (April 1999 to August 2006). Also serves as: Chief Financial Officer, Chief Accounting Officer and Senior Vice President, ACIM, ACGIM, ACS, and other ACC subsidiaries; Chief Accounting Officer and Senior Vice President, ACIS - ----------------------- -------------------------- ---------------------------------- SHARE OWNERSHIP The following table lists the classes for which the directors and officers of each Fund, both individually and as a group, owned more than 1% of the shares of the class. For all classes not listed below, each director and officer individually, and as a group, owned beneficially less than 1% of the outstanding shares of the class. Please see Exhibit B for a list of those persons who, as of March 15, 2007, owned of record or beneficially 5% or more of the outstanding shares of the Issuers. AS OF MARCH 21, 2007 AMOUNT AND NATURE TITLE OF CLASS NAME OF BENEFICIAL OWNER OF BENEFICIAL OWNERSHIP PERCENT OF CLASS - --------------- ------------------------- ----------------------- ---------------- Capital Growth Jonathan S. Thomas 852.5154 shares 10.35% Investor Class Capital Growth Directors/Executive Officers/ 852.5154 shares 10.35% Investor Class Nominees As a Group FEES PAID TO INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM The aggregate fees paid to Deloitte & Touche LLP and other member firms of Deloitte Touche Tahmatsu and their respective affiliates (collectively referred to as the "Deloitte Entities") for professional services rendered by the Deloitte Entities for the audit of the annual financial statements of the Funds and other professional services for the fiscal years ended as indicated below were: - ------------------------------------------ --------------- ------------ --------------- --------------- ISSUER AUDIT FEES AUDIT RELATED TAX FEES ALL OTHER FEES (a) FEES (c) (d) (b) - ------------------------------------------ --------------- ------------ --------------- --------------- AMERICAN CENTURY ASSET ALLOCATION PORTFOLIOS, INC - ------------------------------------------ --------------- ------------ --------------- --------------- 07/31/2005 $ 57,990 $ - $ 13,970 $ - - ------------------------------------------ --------------- ------------ --------------- --------------- 07/31/2006 $ 69,670 $ - $ 15,000 $ - - ------------------------------------------ --------------- ------------ --------------- --------------- AMERICAN CENTURY CAPITAL PORTFOLIOS, INC. - ------------------------------------------ --------------- ------------ --------------- --------------- 03/31/2005 $ 115,236 $ - $ 14,395 $ - - ------------------------------------------ --------------- ------------ --------------- --------------- 03/31/2006 $ 114,418 $ - $ 12,996 $ - - ------------------------------------------ --------------- ------------ --------------- --------------- AMERICAN CENTURY GROWTH FUNDS, INC. - ------------------------------------------ --------------- ------------ --------------- --------------- 07/31/2005 $ 0 $ - $ 0 $ - - ------------------------------------------ --------------- ------------ --------------- --------------- 07/31/2006 $ 31,197 $ - $ 4,200 $ - - ------------------------------------------ --------------- ------------ --------------- --------------- AMERICAN CENTURY MUTUAL FUNDS, INC. - ------------------------------------------ --------------- ------------ --------------- --------------- 10/31/2005 $ 218,979 $ - $ 21,496 $ - - ------------------------------------------ --------------- ------------ --------------- --------------- 10/31/2006 $ 270,281 $ - $ 33,106 $ - - ------------------------------------------ --------------- ------------ --------------- --------------- AMERICAN CENTURY STRATEGIC ASSET ALLOCATIONS, INC. - ------------------------------------------ --------------- ------------ --------------- --------------- 11/30/2005 $ 58,868 $ - $ 7,223 $ - - ------------------------------------------ --------------- ------------ --------------- --------------- 11/30/2006 $ 61,409 $ - $ 7,431 $ - - ------------------------------------------ --------------- ------------ --------------- --------------- AMERICAN CENTURY VARIABLE PORTFOLIOS, INC. - ------------------------------------------ --------------- ------------ --------------- --------------- 12/31/2005 $ 152,519 $ - $ 20,116 $ - - ------------------------------------------ --------------- ------------ --------------- --------------- 12/31/2006 $ 150,772 $ - $ 20,121 $ - - ------------------------------------------ --------------- ------------ --------------- --------------- AMERICAN CENTURY WORLD MUTUAL FUNDS, INC - ------------------------------------------ --------------- ------------ --------------- --------------- 11/30/2005 $ 152,470 $ - $ 23,535 $ - - ------------------------------------------ --------------- ------------ --------------- --------------- 11/30/2006 $ 202,398 $ - $ 32,267 $ - - ------------------------------------------ --------------- ------------ --------------- --------------- (a) Audit Fees These fees relate to professional services rendered by the Deloitte Entities for the audits of the Funds' annual financial statements or services normally provided by an independent registered public accounting firm in connection with statutory and regulatory filings or engagements. These services included the audits of the financial statements of the Funds, issuance of consents, income tax provision procedures and assistance with review of documents filed with the Securities and Exchange Commission. (b) Audit Related Fees These fees relate to assurance and related services by the Deloitte Entities in connection with semi-annual financial statements. (c) Tax Fees These fees relate to professional services rendered by the Deloitte Entities for tax compliance, tax advice, and tax planning. These services relate to the review of the Funds' federal and state income tax returns, review of excise tax calculations and returns, and a review of the Funds' calculations of capital gains and income distributions. (d) All Other Fees These fees relate to products and services provided by the Deloitte Entities other than those reported under "Audit Fees," "Audit-Related Fees," and "Tax Fees." AUDIT COMMITTEE PRE-APPROVAL POLICIES AND PROCEDURES The Audit Committee approves the engagement of the accountant prior to the accountant rendering any audit or non-audit services to the Issuers. The aggregate non-audit fees billed by the Deloitte Entities for services rendered to the Advisor and service affiliates for the years ended December 31, 2005 and December 31, 2006 were $223,787 and $108,186, respectively. The Audit Committee considered and concluded that the provisions for non-audit services to the Advisor and its affiliates that did not require pre-approval are compatible with maintaining Deloitte's independence. SHAREHOLDER APPROVAL Proposal 1, the election of the Directors, must be approved by a plurality of the votes cast in person or by proxy at the Meeting at which a quorum exists. The shareholders of each Issuer will vote separately for the election of Directors. The shareholders of each Issuer will vote together as a single class and the voting power of the shares of each Fund that is a series of an Issuer will be counted together in determining the results of the voting for Proposal 1. THE BOARDS RECOMMEND THAT THE SHAREHOLDERS VOTE TO ELECT EACH OF THE NOMINEES. PROPOSAL 2 APPROVAL OF A CHANGE IN THE FEE STRUCTURE OF THE ADVISOR CLASS SHARES OF THE ADVISOR FUNDS OVERVIEW AND RELATED INFORMATION On November 29, 2006 and March 7, 2007, the Boards approved, subject to shareholder approval, an increase of 25 basis points (0.25%) in the unified management fee for the Advisor Class of the Advisor Funds while simultaneously approving a decrease of 25 basis points in the Rule 12b-1 fee charged by the Advisor Class of the Advisor Funds, resulting in no change to the total expense ratios. The increase in the unified management fee and corresponding decrease in the Rule 12b-1 fee are designed to move the fee for the provision of certain shareholder/administrative services from the Rule 12b-1 fee to the unified management fee. Such shareholder/administrative services may include providing individual and custom investment advisory services to clients of financial intermediaries as well as recordkeeping, and administrative services for clients that would otherwise be performed by American Century's transfer agent. The shareholder/administrative services, which will not change, do not encompass distribution-related services. This modification will make the fee structure of the Advisor Class shares of the Advisor Funds more consistent with the other share classes of the American Century Funds. Any reimbursement paid to financial intermediaries for the provision of shareholder/administrative services will now be paid out of the unified management fee received by the Advisor and not the Rule 12b-1 fee. CONSEQUENCES OF APPROVAL OF THE CHANGE IN FEE STRUCTURE The proposed 25 basis point increase in the unified management fee is not expected to have any effect on the total expense ratio of the Advisor Class shares of the Advisor Funds. As previously noted, the 25 basis point increase in the unified management fee will be offset by a corresponding decrease of 25 basis points in the Rule 12b-1 fee. If shareholders do not approve the increase in the unified management fee, then the administrative/shareholder services fee will continue to be paid out of the Rule 12b-1 fee and the proposed decrease in the Rule 12b-1 fee will not take effect. If approved by shareholders, the current advisory contracts of the Advisor Funds will be amended to reflect the 25 basis point increase in the unified management fee with an effective date of September 1, 2007. Hereafter, the amended contracts shall be referred to as the "New Advisory Agreements." If this Proposal is not approved by one or more of the Advisor Classes of the Advisor Funds, then American Century may elect not to proceed with the Proposal with respect to some or all of the Advisor Funds. This Proposal is part of a larger set of initiatives designed to streamline American Century's mutual fund offering and better align them with investor buying preferences and market opportunities. As part of this larger set of initiatives, the Boards recently approved a proposal to reclassify the Advisor Class Shares of Balanced, Life Sciences, and Technology as Investor Class shares of the same funds. Advisor Class shareholders of these funds will receive a separate proxy statement/prospectus describing this proposal in detail and will have an opportunity to vote on it. If approved by the Advisor Class shareholders of these three funds, Advisor Class shares would cease to exist; the Change in Fee Structure Proposal contained in this proxy would become moot; and therefore, even if approved the Change In Fee Structure Proposal would not take effect for Balanced, Life Sciences and Technology. Also as part of this larger set of initiatives, the Boards recently approved a proposal to reclassify the A Class Shares of Large Company Value, Value, Select, Strategic Allocation: Conservative, Strategic Allocation: Moderate, Strategic Allocation: Aggressive, Global Growth, and International Growth as Advisor Class shares of the same funds. A Class shareholders of these funds will receive a separate proxy statement/prospectus describing this proposal in detail and will have an opportunity to vote on it. If approved by the A Class shareholders, the current A Class shares would cease to exist; the Change in Fee Structure Proposal contained in this proxy would take effect; such shares would be subject to a maximum 5.75% front-end sales load and the Advisor Class shares would be renamed as A Class shares. However, the front-end sales load will not apply to current Advisor Class shareholders who purchase additional shares in the same accounts. Additionally, after the Advisor Class shares have been renamed as A Class shares, shareholders will be able to exchange their shares for A Class shares of other American Century Funds. Lastly, as part of this larger set of initiatives, it is anticipated that if the Change in Fee Structure Proposal is approved, the Advisor Class shares of Emerging Markets, Equity Income, Heritage, Real Estate and Ultra will be renamed as "A Class" shares. Additionally, it is anticipated that a maximum front-end sales load of 5.75% will be imposed on the renamed A Class shares. However, the front-end sales load will not apply to current Advisor Class shareholders who purchase additional shares in the same accounts. Additionally, after the Advisor Class shares have been renamed as A Class shares, shareholders will be able to exchange their shares for A Class shares of other American Century Funds. INFORMATION REGARDING THE ADVISOR American Century Investment Management, Inc., located at 4500 Main Street, Kansas City, Missouri 64111, is wholly owned by American Century Companies, Inc. James E. Stowers Jr. owns the majority of the outstanding stock of American Century Companies, Inc. Maryanne L. Roepke, Jon W. Zindel, Charles A. Etherington, David H. Reinmiller and Otis H. Cowan are all officers of the Funds and the Advisor, but are not directors of the Advisor, who own common stock of American Century Companies, Inc. The address for each officer and director of the Advisor is 4500 Main Street, Kansas City, Missouri 64111. The following table lists the names, positions, and principal occupations of the directors and principal executive officer of the Advisor: - -------------------- ---------------------------- --------------------------------------------- NAME POSITION PRINCIPAL OCCUPATIONS - -------------------- ---------------------------- --------------------------------------------- Enrique Chang President, Chief Executive Chief Investment Officer Officer and Chief Investment Officer - -------------------- ---------------------------- --------------------------------------------- James E. Stowers Jr. Director Founder, Co-Chairman, Director and Controlling Shareholder, ACC; Director, ACIM, ACGIM, ACS, ACIS and other ACC subsidiaries - -------------------- ---------------------------- --------------------------------------------- Jonathan S. Thomas Director and Executive Vice President and Chief Executive Officer, ACC; President President, Chief Executive Officer, and Director, ACS; Director, ACIM, ACGIM, ACIS and other ACC subsidiaries - -------------------- ---------------------------- --------------------------------------------- DESCRIPTION OF THE NEW ADVISORY AGREEMENTS The Advisor currently acts as each Advisor Fund's advisor pursuant to Advisory Agreements (the "Current Advisory Agreements"). The following table lists the date of the Current Advisory Agreements, as well as the dates they were last submitted to a vote of the shareholders and the purpose of the shareholder vote for each Fund. Under the New Advisory Agreement, the Advisor will provide the same services to the Advisor Funds as under the Current Advisory Agreements. - ------------------------ ----------------- ------------------- ------------------------------------------- DATE CURRENT CURRENT ADVISORY ADVISORY AGREEMENT PURPOSE OF LAST SUBMISSION TO SHAREHOLDERS AGREEMENT LAST SUBMITTED TO FUND DATE SHAREHOLDERS - ------------------------ ----------------- ------------------- ------------------------------------------- Equity Income 8-1-2006 7-30-1997 Approval of Management Agreement with ACIM - ------------------------ ----------------- ------------------- ------------------------------------------- Large Company Value 8-1-2006 7-28-1999 Initial shareholder consent - ------------------------ ----------------- ------------------- ------------------------------------------- Mid Cap Value 8-1-2006 7-30-2004 Initial shareholder consent - ------------------------ ----------------- ------------------- ------------------------------------------- Real Estate 8-1-2006 12-17-1999 Approval of fee change in Management Agreement - ------------------------ ----------------- ------------------- ------------------------------------------- Small Cap Value 8-1-2006 7-30-1998 Initial shareholder consent - ------------------------ ----------------- ------------------- ------------------------------------------- Value 8-1-2006 7-30-1997 Approval of Management Agreement with ACIM - ------------------------ ----------------- ------------------- ------------------------------------------- Legacy Large Cap 5-15-2006 5-31-2006 Initial shareholder consent - ------------------------ ----------------- ------------------- ------------------------------------------- Legacy Focused Large Cap 5-15-2006 5-31-2006 Initial shareholder consent - ------------------------ ----------------- ------------------- ------------------------------------------- Legacy Multi Cap 5-15-2006 5-31-2006 Initial shareholder consent - ------------------------ ----------------- ------------------- ------------------------------------------- Balanced 8-1-2006 7-30-1997 Approval of Management Agreement with ACIM - ------------------------ ----------------- ------------------- ------------------------------------------- Capital Value 8-1-2006 3-30-1999 Initial shareholder consent - ------------------------ ----------------- ------------------- ------------------------------------------- Growth 8-1-2006 7-30-1997 Approval of Management Agreement with ACIM - ------------------------ ----------------- ------------------- ------------------------------------------- Heritage 8-1-2006 7-30-1997 Approval of Management Agreement with ACIM - ------------------------ ----------------- ------------------- ------------------------------------------- Select 8-1-2006 7-30-1997 Approval of Management Agreement with ACIM - ------------------------ ----------------- ------------------- ------------------------------------------- Ultra 8-1-2006 7-30-1997 Approval of Management Agreement with ACIM - ------------------------ ----------------- ------------------- ------------------------------------------- Vista 8-1-2006 7-30-1997 Approval of Management Agreement with ACIM - ------------------------ ----------------- ------------------- ------------------------------------------- Strategic Allocation: 8-1-2006 7-30-1997 Approval of Management Agreement with ACIM Conservative - ------------------------ ----------------- ------------------- ------------------------------------------- Strategic Allocation: 8-1-2006 7-30-1997 Approval of Management Agreement with ACIM Moderate - ------------------------ ----------------- ------------------- ------------------------------------------- Strategic Allocation: 8-1-2006 7-30-1997 Approval of Management Agreement with ACIM Aggressive - ------------------------ ----------------- ------------------- ------------------------------------------- Emerging Markets 8-1-2006 7-30-1997 Approval of Management Agreement with ACIM - ------------------------ ----------------- ------------------- ------------------------------------------- Global Growth 8-1-2006 11-30-1998 Initial shareholder consent - ------------------------ ----------------- ------------------- ------------------------------------------- International Discovery 8-1-2006 7-30-1997 Approval of fee change in Management Agreement - ------------------------ ----------------- ------------------- ------------------------------------------- International Growth 8-1-2006 7-30-1997 Approval of fee change in Management Agreement - ------------------------ ----------------- ------------------- ------------------------------------------- Life Sciences 8-1-2006 6-30-2000 Initial shareholder consent - ------------------------ ----------------- ------------------- ------------------------------------------- Technology 8-1-2006 6-30-2000 Initial shareholder consent - ------------------------ ----------------- ------------------- ------------------------------------------- COMPARISON OF THE CURRENT ADVISORY AGREEMENTS AND THE NEW ADVISORY AGREEMENTS The terms of each New Advisory Agreement are identical to those of the corresponding Current Advisory Agreement, except for the management fees payable, which have been increased by 25 basis points to account for the transfer of the administrative/shareholder reimbursements from the Rule 12b-1 fee to the unified management fee, and the effective and termination dates. The New Advisory Agreement will continue in effect from year to year if such continuance is approved for the Funds at least annually in the manner required by the 1940 Act and the rules and regulations thereunder. Please see Exhibit C for the current rate of compensation paid under the Current Advisory Agreements for each Advisor Fund and the pro forma fees to be paid under the New Advisory Agreements after giving effect to the Change In Fee Structure Proposal. ADVISORY SERVICES The services to be provided by the Advisor to the Advisor Funds under the New Advisory Agreement will be identical to those services that were provided by the Advisor under the Current Advisory Agreement. Both the Current Advisory Agreement and the New Advisory Agreement provide that the Advisor will: (i) decide what securities to buy and sell for each Advisor Fund's portfolio and (ii) select brokers and dealers to carry out portfolio securities transactions for each Advisor Fund. EXPENSES The provisions of the New Advisory Agreement regarding expenses are identical to the provisions of the Current Advisory Agreement. Under the terms of the Current Advisory Agreement and the New Advisory Agreement, the Advisor will bear all expenses incurred by it in the performance of its responsibilities. Each Advisor Fund is responsible for custody fees and other charges and expenses of each Advisor Fund's operations such as compensation of the Independent Directors, independent accountants and legal counsel of the Independent Directors. COMPENSATION The following table shows the aggregate amount paid by each Fund under the unified management fee and Rule 12b-1 fee for 2006, and the aggregate amount that would have been paid if the proposed unified management fee and Rule 12b-1 fee had been in effect during 2006. FUND BEFORE AFTER ADVISOR NET $ CHANGE BEFORE RULE AFTER RULE NET DECREASE TOTAL NET ADVISOR FEE FEE CHANGE AND NET % 12B-1 12B-1 IN RULE 12B-1 CHANGE IN CHANGE CHANGE DECREASE DECREASE FEES FEES - ---------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- EQUITY INCOME $6,575,479 $8,848,950 $2,273,471 $4,546,942 $2,273,471 ($2,273,471) $0 34.57% - ---------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- LARGE COMPANY $882,830 $1,260,195 $377,365 $754,730 $377,365 ($377,365) $0 VALUE 42.74% - ---------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- MID CAP VALUE $25,114 $33,485 $8,371 $16,742 $8,371 ($8,371) $0 33.33% - ---------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- REAL ESTATE $2,092,355 $2,675,475 $583,120 $1,166,240 $583,120 ($583,120) $0 27.87% - ---------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- SMALL CAP VALUE $4,059,299 $5,074,939 $1,015,640 $2,031,280 $1,015,640 ($1,015,640) $0 25.02% - ---------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- VALUE $1,760,286 $2,353,165 $592,879 $1,185,758 $592,879 ($592,879) $0 33.68% - ---------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- LEGACY FOCUSED $1,108 $1,434 $326 $652 $326 ($326) $0 LARGE CAP 29.42% - ---------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- LEGACY LARGE CAP $1,053 $1,363 $310 $620 $310 ($310) $0 29.44% - ---------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- LEGACY MULTI CAP $838 $1,071 $233 $466 $233 ($233) $0 27.80% - ---------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- BALANCED $101,630 $140,719 $39,089 $78,178 $39,089 ($39,089) $0 38.46% - ---------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- CAPITAL VALUE $132,429 $171,426 $38,997 $77,994 $38,997 ($38,997) $0 29.45% - ---------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- GROWTH $617,883 $824,347 $206,464 $412,928 $206,464 ($206,464) $0 33.41% - ---------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- HERITAGE $304,745 $406,327 $101,582 $203,164 $101,582 ($101,582) $0 33.33% - ---------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- SELECT $195,940 $261,253 $65,313 $130,626 $65,313 ($65,313) $0 33.33% - ---------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- ULTRA $3,929,672 $5,268,710 $1,339,038 $2,678,076 $1,339,038 ($1,339,038) $0 34.08% - ---------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- VISTA $1,645,575 $2,194,100 $548,525 $1,097,050 $548,525 ($548,525) $0 33.33% - ---------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- STRATEGIC $1,170,818 $1,569,615 $398,797 $797,594 $398,797 ($398,797) $0 CONSERVATIVE 34.06% - ---------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- STRATEGIC $3,348,501 $4,397,162 $1,048,661 $2,097,322 $1,048,661 ($1,048,661) $0 MODERATE 31.32% - ---------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- STRATEGIC $3,030,044 $3,843,878 $813,834 $1,627,668 $813,834 ($813,834) $0 AGGRESSIVE 26.86% - ---------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- EMERGING MARKETS $76,363 $88,762 $12,399 $24,798 $12,399 ($12,399) $0 16.24% - ---------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- GLOBAL GROWTH $53,789 $66,596 $12,807 $25,614 $12,807 ($12,807) $0 23.81% - ---------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- INTERNATIONAL $298 $362 $64 $128 $64 ($64) $0 DISCOVERY 21.48% - ---------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- INTERNATIONAL $3,048,835 $3,811,418 $762,583 $1,525,166 $762,583 ($762,583) $0 GROWTH 25.01% - ---------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- LIFE SCIENCES $1,744 $2,107 $363 $726 $363 ($363) $0 20.81% - ---------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- TECHNOLOGY $1,522 $1,826 $304 $608 $304 ($304) $0 19.97% - ---------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- ADVISORY SERVICES TO OTHER FUNDS The following table provides information regarding mutual funds for which the Advisor provides investment advisory services and have investment objectives and strategies that are similar to those of the Advisor Funds. All of the information below is provided for the calendar year ended December 31, 2006. - ----------------------- --------------------- -------------------- --------------------- ------------------ EFFECTIVE MANAGEMENT FEE (AS A PERCENTAGE OF YTD AVERAGE NET ACTUAL MANAGEMENT AVERAGE DAILY NET FUND SUB-ADVISOR ASSETS ($) FEE ASSETS)(% - ----------------------------------------------------------------------------------------------------------- The following funds are managed pursuant to a similar investment strategy as Growth. - ----------------------- --------------------- -------------------- --------------------- ------------------ Principal Partners ACIM $844,555,902 $3,047,456 0.361% LargeCap Growth Fund II - ----------------------- --------------------- -------------------- --------------------- ------------------ Principal Partners Large Cap Growth Fund(1) ACIM $36,981,903 $131,588 0.356% - ----------------------------------------------------------------------------------------------------------- The following fund is managed pursuant to a similar investment strategy as Select. - ----------------------- --------------------- -------------------- --------------------- ------------------ ING American Century ACIM $366,842,595 $1,463,143 0.399% Select Portfolio - ----------------------------------------------------------------------------------------------------------- The following funds are managed pursuant to a similar investment strategy as Vista. - ----------------------- --------------------- -------------------- --------------------- ------------------ RiverSource ACIM $248,213,334 $1,138,389 0.459% Aggressive Growth - ----------------------- --------------------- -------------------- --------------------- ------------------ John Hancock Vista Fund ACIM $119,163,755 $532,977 0.447% - ----------------------- --------------------- -------------------- --------------------- ------------------ John Hancock Vista Trust ACIM $93,094,447 $416,263 0.447% - ----------------------------------------------------------------------------------------------------------- The following funds are managed pursuant to a similar investment strategy as Balanced. - ----------------------- --------------------- -------------------- --------------------- ------------------ AST American Century ACIM $185,304,220 $697,132 0.376% Strategic Balanced Portfolio(2) - ----------------------- --------------------- -------------------- --------------------- ------------------ Strategic Partners Balanced Fund ACIM $98,215,264 $368,008 0.375% - ----------------------------------------------------------------------------------------------------------- The following fund is managed pursuant to a similar investment strategy as International Growth. - ----------------------- --------------------- -------------------- --------------------- ------------------ VALIC International ACGIM $252,147,352 $1,628,087 0.646% Growth I Fund - ------------------------------------------------------------------------------------------------------------- The following fund is composed of multiple asset slices managed by a number of investment managers. Two of these asset slices are managed by ACIM. One slice is managed pursuant to a similar investment strategy as International Opportunities. The other slice is managed pursuant to a similar investment strategy as International Discovery. - ----------------------- --------------------- -------------------- --------------------- -------------------- Laudus International ACGIM $392,671,833(3) $3,153,076 0.803% MarketMasters Fund - ------------------------------------------------------------------------------------------------------------- The following fund is managed pursuant to a similar investment strategy to Mid Cap Value. - ----------------------- --------------------- -------------------- --------------------- -------------------- MML Mid Cap Value Fund ACIM $213,590,319 $943,270 0.442% - ------------------------------------------------------------------------------------------------------------- The following fund is managed by ACIM pursuant to two distinct investment strategies. One slice of the fund's assets is managed pursuant to a similar investment strategy as Small Cap Value. The other slice of the fund's assets is managed pursuant to a similar investment strategy as Mid Cap Value. - ----------------------- --------------------- -------------------- --------------------- -------------------- ING American Century ACIM $113,114,250 $704,067(4) 0.622%(4) Small-Mid Cap Value Portfolio - ------------------------------------------------------------------------------------------------------------- The following funds are managed (or in some cases, a particular slice of the assets of a fund is managed) pursuant to a similar investment strategy as Large Company Value. - ----------------------- --------------------- -------------------- --------------------- -------------------- TA IDEX American ACIM $291,110,198 $1,247,793 0.429% Century Large Company Value - ----------------------- --------------------- -------------------- --------------------- -------------------- Partners Large Cap Value Fund II ACIM $221,407,083 $875,093 0.395% - ----------------------- --------------------- -------------------- --------------------- -------------------- VALIC Core Value ACIM $233,377,043 $1,007,807 0.432% - ----------------------- --------------------- -------------------- --------------------- -------------------- AEGON American Century Large Company Value ACIM $126,428,646 $544,617 0.431% - ----------------------- --------------------- -------------------- --------------------- -------------------- ING American Century Large Company Value Portfolio ACIM $105,810,629 $422,094 0.399% - ----------------------- --------------------- -------------------- --------------------- -------------------- Principal Equity Value Account ACIM $4,990,915 $19,598 0.393% - ------------------------------------------------------------------------------------------------------------- The following fund is managed pursuant to a similar investment strategy as Ultra. - ----------------------- --------------------- -------------------- --------------------- -------------------- VALIC Ultra Fund ACIM $647,931,776 $3,376,635 0.521% - ----------------------- --------------------- -------------------- --------------------- -------------------- (1) THE PRINCIPAL PARTNERS LARGECAP GROWTH FUND MERGED WITH THE PRINCIPAL PARTNERS LARGECAP GROWTH FUND II ON JANUARY 12, 2007. (2) EFFECTIVE MAY 1, 2007, THE FUND WILL IMPLEMENT A REVISED INVESTMENT STRATEGY AND CHANGE ITS NAME TO THE AST AMERICAN CENTURY STRATEGIC ALLOCATION PORTFOLIO. THE ADVISOR WILL CONTINUE TO MANAGE THE ASSETS OF THE FUND FOLLOWING THE CHANGE BUT WILL EMPLOY AN INVESTMENT MANAGEMENT STYLE SIMILAR TO THAT OF AMERICAN CENTURY STRATEGIC ALLOCATION: MODERATE. (3) FUND ASSETS ARE MANAGED BY A NUMBER OF INVESTMENT MANAGERS. ONLY ASSETS OF THE FUND MANAGED BY THE ADVISOR ARE INCLUDED. (4) ACIM WAIVED A PORTION OF ITS MANAGEMENT FEE DURING THE PERIOD ENDED DECEMBER 31, 2006. WITHOUT THIS WAVIER, THE ACTUAL MANAGEMENT FEE AND EFFECTIVE MANAGEMENT FEE PAID TO ACIM BY THE FUND WOULD HAVE BEEN $646,057 AND 0.571% RESPECTIVELY. BASIS FOR THE BOARDS' APPROVAL OF THE NEW ADVISORY AGREEMENTS At meetings held on November 29, 2006 and March 7, 2007, the Boards, including the Independent Directors, considered and approved the proposed increase to the unified management fee of the Advisor Class shares of the Advisor Funds and accordingly approved the New Advisory Agreements for each Advisor Fund. In approving the New Advisory Agreements, the Boards considered the following factors: o that the increase in the unified management fee is being proposed in connection with a simultaneous decrease in the Rule 12b-1 fees of the Advisor Class; o that there will not be any change in the total expense ratio of the Advisor Class as a result of the increase in the unified management fee; o that if the proposed New Advisory Agreements are approved by shareholders of the Advisor Class of Equity Income, Real Estate, Heritage, Ultra, and Emerging Markets it is anticipated that the Advisor Class shares will be renamed A Class shares, which would result in a front-end sales load being added to the class; but would also result in the load being waived for current shareholders of the Advisor Class who purchase future A Class shares through the same accounts; and o that the increase in the unified management fee of the Advisor Class will make the class fee structure more consistent with the fee structure of other share classes of the American Century Funds and industry practice. At the meetings, after considering all information presented, the Boards, including the Independent Directors, approved each New Advisory Agreements and determined to recommend that shareholders approve the New Advisory Agreements. No single factor was determinative in the Boards' analysis. The following summary describes the most important, but not all, of the factors considered by the Boards. SERVICES TO BE PROVIDED The Boards considered the services to be provided in consideration for the 25 basis point increase in the unified management fee. The Boards noted that the administrative/shareholder services provided in consideration for the 25 basis points would not change. Instead the administrative/shareholder services would now be paid as part of the unified management fee instead of the Rule 12b-1 fee. Such services may include providing individual and custom investment advisory services to clients of financial intermediaries as well as recordkeeping, and administrative services for clients that would otherwise be performed by American Century's transfer agent. In some circumstances, the Advisor will pay such service providers a fee for performing these services. COSTS AND PROFITABILITY The Boards did not request any specific information regarding the costs of the services to be provided in consideration of the 25 basis point increase in the unified management fee because the Boards had previously reviewed the nature, scope and costs associated with the provision of the administrative/shareholder services as part of its approval of the Rule 12b-1 plan on behalf of the Advisor Funds. The Boards had previously found the 25 basis point fee for administrative/shareholder services to be reasonable in light of the scope and nature of the services provided. BENEFITS TO THE ADVISOR The Boards considered the information presented regarding the benefits to the Advisor from the increase in the unified management fee. The Boards noted that the 25 basis point increase in the unified management fee would be paid out by the Advisor to the financial intermediary providing the administrative/shareholder services to the beneficial owner of the shares. The increased fee would only be retained by the Advisor to the extent that it was providing the administrative/shareholder services on behalf of shareholders. Currently, the Advisor retains the fee only to the extent it provides the administrative/shareholder services on behalf of shareholders. There would not be a net change the amount the Advisor retains. ECONOMIES OF SCALE The Boards considered that the total expense ratio of the Advisor Class would not change as a result of the increase in the unified management fee due to the corresponding decrease in the Rule 12b-1 fee. The Boards considered that it was necessary to pay financial intermediaries a fee for providing administrative/shareholder services to shareholders and that the payment of such a fee by the Advisor Funds could help them increase their assets and therefore potentially enable shareholders to realize future economies of scale. The Boards recognized, however, that the proposal would not increase payments to financial intermediaries. Additional information regarding the factors the Boards considered in their annual renewal of advisory contracts on behalf of the Advisor Funds can be found in the report to shareholders for each respective Advisor Fund. To request a report of a Fund please call the following number: 1-800-345-2021. AFFILIATED BROKERAGE American Century Investment Services, Inc., the Funds' distributor and the Advisor are wholly owned, directly or indirectly, by ACC. JPMorgan Chase & Co. (JPM) is an equity investor in ACC. The funds paid J.P. Morgan Securities Inc. (JPMS), and JP Morgan Cazenove Limited (JPMC), subsidiaries of JPM, the following brokerage commissions: FUND FISCAL YEAR END AGGREGATE AMOUNT OF COMMISSIONS PERCENTAGE OF AGGREGATE BROKERAGE PAID TO AFFILIATED BROKERS COMMISSIONS PAID TO AFFILIATED BROKER - ------------------------------------------------------------------------------------------------------------- JPMS JPMC(1) JPMS JPMC(1) - ------------------------------------------------------------------------------------------------------------- Select 10/31/06 $51,195 N/A 0.78% N/A - ------------------------------------------------------------------------------------------------------------- Vista 10/31/06 $32,570 N/A 0.64% N/A - ------------------------------------------------------------------------------------------------------------- Strategic Allocation: 11/30/06 $2,473 $39.17 0.57% 0.01% Conservative - ------------------------------------------------------------------------------------------------------------- Strategic Allocation: 11/30/06 $56,644 $253.38 2.26% 0.01% Moderate - ------------------------------------------------------------------------------------------------------------- Strategic Allocation: 11/30/06 $45,525 $236.70 2.30% 0.01% Aggressive - ------------------------------------------------------------------------------------------------------------- Emerging Markets 11/30/06 $184,409 $919 6.32% 0.03% - ------------------------------------------------------------------------------------------------------------- Global Growth 11/30/06 $3,429 $400 0.49% 0.06% - ------------------------------------------------------------------------------------------------------------- International 11/30/06 $289,630 $13,323 3.45% 0.16% Discovery - ------------------------------------------------------------------------------------------------------------- International Growth 11/30/06 $175,560 $1,720 2.45% 0.02% - ------------------------------------------------------------------------------------------------------------- Technology 11/30/06 $19,768 $0 1.86% 0% - ------------------------------------------------------------------------------------------------------------- Large Company Value 12/31/2006 $464 N/A 0.18% N/A - ------------------------------------------------------------------------------------------------------------- Mid Cap Value 12/31/2006 $744 N/A 0.20% N/A - ------------------------------------------------------------------------------------------------------------- Small Cap Value 12/31/2006 $2,400 N/A 0.08% N/A - ------------------------------------------------------------------------------------------------------------- Value 12/31/2006 $959 N/A 0.03% N/A - ------------------------------------------------------------------------------------------------------------- (1) JPMC BECAME A SUBSIDIARY OF JPM ON FEBRUARY 1, 2005. SHAREHOLDER APPROVAL Proposal 2, the approval of the change to the Advisor Class fee structure, must be approved in accordance with Section 15(a) of the 1940 Act, which requires the approval of the lesser of (i) more than 50% of the outstanding shares of the applicable Class or (ii) 67% or more of the shares of that Class present or represented by proxy at the Meeting if more than 50% of such shares are present or represented by proxy. The shareholders of the Advisor Class of each of the Advisor Funds will vote separately on Proposal 2. THE DIRECTORS OF THE ADVISOR FUNDS RECOMMEND THAT THE SHAREHOLDERS OF THE ADVISOR CLASS OF EACH ADVISOR FUND VOTE TO APPROVE THE CHANGE TO THE ADVISOR CLASS FEE STRUCTURE PROPOSAL 3 APPROVAL OF AN AMENDMENT TO THE INVESTMENT OBJECTIVE OF REAL ESTATE OVERVIEW AND RELATED INFORMATION At its meeting on November 29, 2006, the Board of American Century Capital Portfolios, Inc. approved a proposal to amend the investment objective of Real Estate. Real Estate's investment objective is a fundamental policy and may not be changed without shareholder approval. The current fundamental investment objective of the Fund states that "The fund seeks long-term capital appreciation. Income is a secondary objective." This investment objective has been in effect since the Fund's inception in September 1995. The Board proposes to amend the fundamental investment objective to state that "The fund seeks high total investment return through a combination of capital appreciation and current income." The goal of this proposal is to modify Real Estate's fundamental investment objective so that it does not identify capital appreciation as "primary" and income as "secondary" objectives. If approved, Real Estate's new investment objective will be to seek both capital appreciation and production of income while not emphasizing one over the other. Whether or not the proposal is approved, it is anticipated that Real Estate will continue its subadvisory relationship with J.P. Morgan Investment Management, Inc. (the "Subadvisor"). The Subadvisor does not expect that the change in the Real Estate's fundamental investment objective will (1) materially affect its investment strategy for the day-to-day management of the Fund; or (2) materially change the risk factors applicable to the Fund. INVESTMENT STRATEGY Real Estate invests at least 80% of its assets in equity securities issued by real estate investment trusts ("REITs") and companies engaged in the real estate industry. A REIT invests primarily in income-producing real estate or makes loans to persons involved in the real estate industry. Equity securities include common stock, preferred stock, and equity equivalent securities such as convertible securities, stock futures contracts or stock index futures contracts. A company is considered to be a real estate company if, in the opinion of the Fund's portfolio managers (the "PMs"), at least 50% of its revenues or 50% of the market value of its assets at the time its securities are purchased by the Fund are attributed to the ownership, construction, management or sale of real estate. The PMs look for real estate securities that they believe will provide superior returns. The PMs attempt to focus the Fund's investments on real estate companies and REITs with the potential for stock price appreciation, plus strong growth of cash flow to investors. Some REITs, called equity REITs, buy real estate, and investors receive income from the rents received and from any profits on the sale of its properties. Other REITs, called mortgage REITs, lend money to building developers and other real estate companies, and receive income from interest paid on those loans. There are also hybrid REITs, which engage in both owning real estate and making loans. If a REIT meets certain requirements, it is not taxed on the income it distributes to its investors. The PMs' real estate securities investment philosophy is that consistently excellent investment results can be achieved through superior stock selection (based on both public equity and private real estate market factors) and risk-managed portfolio construction. The PMs use a disciplined investment process to manage the Fund, focusing on stock selection rather than sector or theme bets. The portfolio management process relies on a continuous screen of the target universe of investments to identify companies exhibiting financial strength, and operating returns and growth prospects that are attractively priced at any given time. This process also helps the PMs sell the stocks of companies whose fundamentals are no longer attractively priced. The PMs evaluate each company's ability to generate earnings over an earnings cycle, not just for the next one or two years. The PMs focus research efforts on determining the normalized earnings and earnings growth of a company, from which they determine if the company's current price fully reflects its long-term value. PRINCIPAL RISKS An investment in the Fund may be subject to many of the same risks as a direct investment in real estate. This is due to the fact that the value of the Fund's investments may be affected by the value of the real estate owned by the companies in which it invests. These risks include changes in economic conditions, interest rates, property values, property tax increases, overbuilding and increased competition, environmental contamination, zoning and natural disasters. Because the Fund concentrates its investments in real estate securities, it may be subject to greater risks and market fluctuations than a fund representing a broader range of industries. In addition, market performance tends to be cyclical and, in the various cycles, certain investment styles may fall in and out of favor. If the market is not favoring the Fund's style, its gains may not be as big as, or its losses may be bigger than, other equity funds using different investment styles. To the extent the Fund invests in mortgage REITs, it will be subject to credit risk and interest rate risk with respect to the loans made by the REITs in which it invests. Credit risk is the risk that the borrower will not be able to make interest and principal payments on the loan to the REIT when they are due. Interest rate risk is the risk that a change in the prevailing interest rate will cause the value of the loan portfolio held by the REIT to rise or fall. Generally, when interest rates rise, the value of the loan portfolio will decline. The opposite is true when interest rates decline. The degree to which interest rate changes affect the Fund's performance varies and is related to the specific characteristics of the loan portfolios of the mortgage REITs in which the Fund invests. The Fund is classified as nondiversified. Because it is nondiversified, it may hold large positions in a small number of securities. To the extent it maintains such positions, the price change in any one of those securities may have a greater impact on the Fund's share price than if it were diversified. Although the PMs intend to invest the Fund's assets primarily in U.S. securities, the Fund may invest in foreign securities. Foreign investment involves additional risks, including fluctuations in currency exchange rates, less stable political and economic structures, reduced availability of public information, and lack of uniform financial reporting and regulatory practices similar to those that apply in the United States. These factors make investing in foreign securities generally riskier than investing in U.S. securities. The value of the Fund's shares depends on the value of the stocks and other securities it owns. The value of the individual securities the Fund owns will go up and down depending on the performance of the companies that issued them, general market and economic conditions and investor confidence. At any given time your shares may be worth less than the price you paid for them. In other words, it is possible to lose money by investing in the Fund. REASONS FOR THE PROPOSED CHANGE As of December 31, 2006, approximately 91.4% of the Fund's investments was invested in REITs. The structure of REITs requires that a REIT distribute substantially all its taxable income to shareholders in order to retain REIT status. Because of these distributions, REITs must frequently revisit the capital markets seeking the cash needed to fund their capital growth. REIT investments have generally been viewed as income generating investments, because of their inability to grow capital internally. However, over the past few years, the real estate market has experienced a high level of capital growth. As a result, Real Estate has experienced a similarly high level of appreciation of the assets in its portfolio, including its REIT investments. During this time period, much of the gains recorded by the Fund have been a result of capital appreciation of portfolio assets (including REITs) as opposed to income generated from REIT or other investments. However, it is not possible to predict with any certainty how long this trend will continue. In the event that the real estate market does not continue to appreciate at its current rate, or begins to depreciate, it may negatively impact the Fund if it continues to emphasize capital appreciation over the production of current income. The new investment objective, if approved, would permit the Fund's PMs to seek a total return through the appropriate combination of capital appreciation and current income, as dictated by then-existing market conditions. The Fund's Advisor, Subadvisor and Directors believe that this approach is more flexible and is a better reflection of the type of return an investor in a real estate mutual fund should expect, given the income producing nature of REITs in which the Fund primarily invests. SHAREHOLDER APPROVAL Proposal 3, the approval of the modified Real Estate investment objective, must be approved in accordance with Section 13(a)(3) of the 1940 Act, which requires the approval of the lesser of (i) more than 50% of the outstanding shares of the Fund or (ii) 67% or more of the shares of the Fund present or represented by proxy at the Meeting if more than 50% of such shares are present or represented by proxy. THE DIRECTORS OF AMERICAN CENTURY CAPITAL PORTFOLIOS, INC. RECOMMEND THAT THE SHAREHOLDERS OF THE REAL ESTATE FUND VOTE TO APPROVE THE AMENDMENT TO THE INVESTMENT OBJECTIVE PROPOSAL 4 APPROVAL OF A NEW SUBADVISORY AGREEMENT FOR EQUITY INDEX OVERVIEW AND RELATED INFORMATION The current subadvisor for Equity Index, Barclay's Global Fund Advisors ("Barclays"), recently informed the Advisor that in light of Barclays' current business model, Barclays is not interested in continuing to provide subadvisory services to Equity Index. Barclays currently serves as subadvisor to Equity Index pursuant to a subadvisory contract between Barclays and the Advisor dated May 1, 2001 (the "Old Subadvisory Agreement"). Upon notification by Barclays of its decision to discontinue providing subadvisory services to Equity Index, the Advisor formed a committee (the "Committee") to solicit bids for a replacement subadvisor to Equity Index. The Committee issued a formal Request for Proposal to four potential subadvisors, including Northern Trust Investments, N.A. ("Northern Trust"). After receiving responses from the four subadvisors, the Committee invited Northern Trust and one other finalist to make in-person presentations. The Advisor also submitted subadvisory contract proposals to the two finalists. After careful consideration, the Board voted to approve, and recommends to Shareholders, the new subadvisory agreement ("New Subadvisory Agreement") between Northern Trust and the Advisor. INFORMATION REGARDING THE CURRENT SUBADVISOR AND THE PROPOSED SUBADVISOR Barclays, located at 45 Fremont St., San Francisco, California 94105, is wholly owned by Barclays Global Investors, N.A. Barclays Global Investors, N.A. is a majority owned subsidiary of Barclays Bank PLC. The following table lists the names, positions, and principal occupations of the Barclays directors and principal executive officers: - ------------------ ---------------------------- --------------------------------------- NAME POSITION WITH BARCLAYS PRINCIPAL OCCUPATION - ------------------ ---------------------------- --------------------------------------- Blake R. Grossman Chairman and Chief Executive Chairman of the Board, Chief Executive Officer Officer - Barclays Global Fund Advisors - ------------------ ---------------------------- --------------------------------------- Rohit Bhagat Director - ------------------ ---------------------------- --------------------------------------- Lee Kranefuss Director - ------------------ ---------------------------- --------------------------------------- The address of the Barclays directors and principal executive officer is 45 Fremont St., San Francisco, California 94105. Northern Trust is a wholly-owned subsidiary of The Northern Trust Company, an Illinois state chartered bank. The Northern Trust Company, in turn, is a wholly-owned subsidiary of Northern Trust Corporation, a multi-bank holding company that delivers trust, investment and banking services to individuals, corporations and institutions. Northern Trust Corporation is a public company headquartered in the United States at 50 South LaSalle Street, Chicago, Illinois 60603 and trades on the NASDAQ under the ticker symbol NTRS. Northern Trust Corporation is the ultimate parent of Northern Trust. As of September 30, 2006, Northern Trust employees, retirees and directors beneficially owned approximately 17% of the Corporation's common stock. The following table lists the names, positions, and principal occupations of the Northern Trust directors and principal executive officers: - -------------------------- -------------------------------- ------------------------------------------- NAME AND ADDRESS POSITION WITH NORTHERN TRUST PRINCIPAL OCCUPATION - -------------------------- -------------------------------- ------------------------------------------- Orie L. Dudley, Jr. Executive Vice President & Chief Chief Investment Officer - oversees Investment Officer, Northern Portfolio Management Activities. Trust Corporation - -------------------------- -------------------------------- ------------------------------------------- Mark Gossett, CFA Senior Vice President, The Chief Operating Officer for Northern Trust Northern Trust Company Global Investments - -------------------------- -------------------------------- ------------------------------------------- William Huffman, Jr., CPA Chairman, President & CEO, Chairman, President & CEO, Northern Trust Northern Trust Global Advisors Global Advisors - -------------------------- -------------------------------- ------------------------------------------- Lyle Logan Executive Vice President, The Managing Director, Institutional Sales and Northern Trust Company Client Servicing for Northern Trust Global Investments - -------------------------- -------------------------------- ------------------------------------------- Duane Rocheleau Senior Vice President, The Senior Vice President and Managing Director Northern Trust Company with Northern Trust Global Investments - -------------------------- -------------------------------- ------------------------------------------- Terence J. Toth Executive Vice President, President of Northern Trust Global Northern Trust Corporation Investments - -------------------------- -------------------------------- ------------------------------------------- Mark Van Grinsven Senior Vice President, The Head, Global Securities Lending Northern Trust Company - -------------------------- -------------------------------- ------------------------------------------- Michael A. Vardas, CFA Chairman, President & CEO, Chairman, President & CEO, Northern Trust Northern Trust Global Advisors Quantitative Management - -------------------------- -------------------------------- ------------------------------------------- Lloyd A. Wennlund Executive Vice President, The President, Northern Trust Securities, Inc., Northern Trust Company President, Northern Funds and Northern Institutional Funds. Head of Product Management, Northern Trust Global Investments - -------------------------- -------------------------------- ------------------------------------------- The address of the Northern Trust directors and principal executive officers is 50 South LaSalle St., Chicago, IL 60675. COMPARISON OF THE CURRENT SUBADVISORY AGREEMENT AND THE NEW SUBADVISORY AGREEMENT The Directors of American Century Capital Portfolios, Inc. approved the New Subadvisory Agreement at a meeting held on November 29, 2006. The terms of the New Subadvisory Agreement are generally similar to those found in the Old Subadvisory Agreement. If approved, the New Subadvisory Agreement will continue in effect so long as such continuance is approved at least annually by the Board or by a vote of a majority of Equity Index's outstanding voting shares, provided that in either event the continuance is approved by a majority of the Board who are not "interested persons," as that term is defined in the 1940 Act, of any party to the New Subadvisory Agreement. For a complete understanding of the New Subadvisory Agreement, please refer to the form of New Subadvisory Agreement provided in Exhibit D. The following paragraphs briefly discuss some important provisions contained in the New Subadvisory Agreement. ADVISORY SERVICES The services provided by Northern Trust to Equity Index under the New Subadvisory Agreement will be substantially similar to those previously provided by Barclays under the Old Subadvisory Agreement. Both agreements provide that the subadvisor will: (i) make investment decisions for the Equity Index fund in accordance with its investment objective and policies as stated in its prospectus and statement of additional information and with such written guidelines as the Advisor may provide to the subadvisor; (ii) place purchase and sale orders on behalf of Equity Index; (iii) maintain books and records with respect to the securities transactions of Equity Index; and (iv) furnish the Board such regular and special reports with respect to the fund as the Board may reasonably request. The subadvisor will also supervise the fund's investments and conduct a continual program of investment, evaluation and if appropriate, sale and reinvestment of the fund's assets. EXPENSES The provisions of the New Subadvisory Agreement regarding expenses are substantially similar to those of the Old Subadvisory Agreement. Under both agreements, the subadvisor agrees to pay its organizational, operational and business expenses but is not obligated to pay any expenses of the Advisor or Equity Index such as brokerage fees, commissions in connection with the execution of securities transactions, taxes, interest and custodian fees and expenses. COMPENSATION The fees to be paid to Northern Trust under the New Subadvisory Agreement are slightly lower than the fees paid to Barclays under the Old Subadvisory Agreement. Northern Trust will receive a fee equal to two basis points (0.02%) on the first $500,000,000 of assets in the fund, and one basis point (0.01%) on all amounts in excess of $500,000,000 under the New Subadvisory Agreement. Barclays receives a fee equal to five basis points (0.05%) on the first $200,000,000 of assets in the fund, two basis points (0.02%) on the next $300,000,000 and one basis point (0.01%) on any amount in excess of $500,000,000 under the Old Subadvisory Agreement. The fees will continue to be paid by the Advisor out of the management fee it receives from Equity Index. Under the terms of the New Subadvisory Agreement, the Advisor will pay Northern Trust a management fee payable monthly in arrears on the first business day of each month. LIABILITY OF NORTHERN TRUST The New Subadvisory Agreement provides that Northern Trust will not be liable to the Equity Index fund for any loss due solely to a mistake of investment judgment. However, Northern Trust will be liable for any loss which is incurred by reason of an act or omission of its employee, partner, director or affiliate, if such act or omission involves a willful misfeasance, bad faith or gross negligence, or breach of its duties or obligations whether such duties are express or implied. ADDITIONAL INFORMATION ABOUT NORTHERN TRUST In addition to serving as the investment subadvisor to the Equity Index fund, Northern Trust also serves as subadvisor to the following mutual funds having similar investment objectives to the Equity Index fund: - -------------------------------------- -------------------------- -------------------------------------- Fund Name Assets Under Management Northern Trust's Rate of Compensation - -------------------------------------- -------------------------- -------------------------------------- DWS S&P 500 Index Fund $2,616 million First $2 Billion, 2 basis points (0.02%); next $1.5 Billion, 1 basis point (0.01%); balance, 0.5 basis point (0.005%) - -------------------------------------- -------------------------- -------------------------------------- Guidestone Equity Index Fund $561 million at 12/13/06 First $100 million, 4 basis points (0.04%); next $250 million, 2 basis points (0.02%); balance, 0.5 basis point (0.005%) - -------------------------------------- -------------------------- -------------------------------------- MassMutual Select Indexed Equity Fund $2,259 million at 12/13/06 First $1 Billion, 1 basis point (0.01%); balance, 0.75 basis points (0.0075%) - -------------------------------------- -------------------------- -------------------------------------- RSI Retirement Trust Core Equity Fund $59 million at 12/31/06 First $25 million, 16 basis points (0.16%); next $25 million, 10 basis points (0.10%); next $50 million, 6 basis points (0.06%); balance, 4 basis points (0.04%) - -------------------------------------- -------------------------- -------------------------------------- USAA S&P 500 Index Fund $3,200 million at 12/31/06 First $1.5 Billion, 2 basis points (0.02%); next $1.5 Billion, 1 basis point (0.01%); balance, 0.5 basis point (0.005%) - -------------------------------------- -------------------------- -------------------------------------- In connection with providing investment subadvisory services to the funds listed above, Northern Trust has not waived or reduced its fees below the amounts specified in Northern Trust's investment subadvisory contracts with these parties. BASIS FOR THE BOARD'S APPROVAL OF THE NEW SUBADVISORY AGREEMENT The Committee's Request for Proposal contained 52 questions on key topics including: firm experience in "indexing," portfolio manager experience, portfolio analyst experience, research and trading practices, investment process, portfolio construction, portfolio risk management, portfolio managers' compensation and operational controls which included such issues as daily valuation, cash management, and investment accounting systems and processes. After receiving high-quality responses from each of the four potential subadvisors, the Committee invited Northern Trust and one other finalist to give presentations to the American Century selection committee in Kansas City. Based on a variety of criteria, it was determined that Northern Trust was better suited for the subadvisory role. Such criteria included: a strong track record of performance in both historical tracking error and raw performance numbers compared to the S&P 500, the breadth of experience in index fund management, sizable subadvisory relationships with companies subject to the 1940 Act, a commitment to index business evidenced by a lack of forays into the Exchange Traded Funds business, a thorough vetting of their investment process and extremely positive reference calls with other mutual fund companies for whom Northern Trust currently serves as subadvisor. The Advisor submitted subadvisory contract proposals to Northern Trust and one other finalist. Northern Trust presented fewer concerns with respect to their commitment by agreeing to comply American Century's stringent requirements for trading practices and soft dollar arrangements. The Advisor believes there will be no diminution in the scope and quality of the services provided between Northern Trust and Barclays. The Board also compared the services to be rendered and amounts to be paid under the New Subadvisory Agreement to those under other potential subadvisory contracts. The Board determined that the fees charged by Northern Trust were competitive and approved the New Subadvisor Agreement based in part upon Northern Trust's excellent references and strong track record of performance in advising similar funds. SHAREHOLDER APPROVAL Proposal 4, the approval of the New Subadvisory Agreement, must be approved in accordance with Section 15(a) of the 1940 Act, which requires the approval of the lesser of (i) more than 50% of the outstanding shares of the Fund or (ii) 67% or more of the shares of the Fund present or represented by proxy at the Meeting if more than 50% of such shares are present or represented by proxy. THE DIRECTORS OF AMERICAN CENTURY CAPITAL PORTFOLIOS, INC. RECOMMEND THAT THE SHAREHOLDERS OF THE EQUITY INDEX FUND VOTE TO APPROVE THE NEW SUBADVISORY AGREEMENT OTHER INFORMATION MEETINGS OF SHAREHOLDERS The Funds are not required to hold annual shareholder meetings, unless required to do so in order to elect directors and for such other purposes as may be prescribed by law or the Funds' Articles of Incorporation. Special meetings of the shareholders may be called by the Directors for the purpose of taking action upon any other matter deemed by the Directors to be necessary or desirable. A meeting of the shareholders may be held at any place designated by the Directors. Written notice of any meeting is required to be given by the Directors. This Proxy Statement is being furnished in connection with the solicitation of proxies by the Boards. Proxies may be solicited by officers of the Funds, as well as their affiliates, employees and agents. In addition, financial intermediaries may solicit the proxy of the beneficial owners of the shares. It is anticipated that the solicitation of proxies will be primarily by mail, internet, telephone, facsimile or personal interview. Shareholders who communicate proxies by telephone or by other electronic means have the same power and authority to issue, revoke or otherwise change their voting instructions as shareholders submitting proxies in written form. Telephonic solicitations will follow procedures designed to ensure accuracy and prevent fraud. The Advisor or an affiliate thereof may reimburse banks, brokers and others for their reasonable expenses in forwarding proxy solicitation materials to beneficial owners of Fund shares, and may reimburse certain officers or employees that it may employ for their reasonable expenses in assisting in the solicitation of proxies from such beneficial owners. The expenses associated with the Proposals of this Proxy Statement will be paid by American Century. Such expenses include: (a) expenses associated with the preparation and filing of this Proxy Statement; (b) postage; (c) printing; (d) accounting fees; (e) legal fees incurred in the preparation of the Proxy Statement; (f) solicitation costs; and (g) other related administrative or operational costs. Such expenses are currently estimated to be approximately $5.6 million in the aggregate. DATE, TIME AND PLACE OF MEETING The Meeting will be held on June 27, 2007 at the principal executive offices of American Century, 4500 Main Street, Kansas City, Missouri 64111, at 10:00 a.m., Central Time. USE AND REVOCATION OF PROXIES A shareholder executing and returning a proxy has the power to revoke it at any time prior to its exercise by executing a superseding proxy (i.e., a later-dated and signed proxy), by submitting a notice of revocation to the Secretary of the Funds or by subsequently registering his or her vote by telephone or over the Internet. In addition, although mere attendance at the Meeting will not revoke a proxy, a shareholder present at the Meeting may withdraw his or her proxy and vote in person. All shares represented by properly executed proxies received at or prior to the Meeting, unless such proxies previously have been revoked, will be voted at the Meeting in accordance with the directions on the proxies. It is not anticipated that any matters other than the approval of the Proposals will be brought before the Meeting. If, however, any other business properly is brought before the Meeting, proxies will be voted in accordance with the judgment of the persons designated on such proxies. VOTING RIGHTS AND REQUIRED VOTES A quorum of shareholders is necessary to hold a valid meeting. Shareholders entitled to vote one-third of the issued and outstanding shares of each Issuer, Fund or Class must be present in person or by proxy, to constitute a quorum for purposes of voting on proposals relating to that Issuer, Fund or Class, except American Century Mutual Funds, Inc. and American Century Variable Portfolios, Inc. for which a majority of the eligible votes shall constitute a quorum. Each shareholder is entitled to one vote per dollar of NAV represented by their shares, with fractional dollars voting proportionally. Shareholders of each Issuer vote separately on Proposal 1 (Election of Directors). Holders of Advisor Class shares of the Advisor Funds vote separately on Proposal 2 (Change in Advisor Class Fee Structure). Only shareholders of the Real Estate fund vote on Proposal 3 (Change in Investment Objective of the Real Estate fund) and only shareholders of the Equity Index fund vote on Proposal 4 (Subadvisory Agreement with Northern Trust). Approval of Proposal 1 requires the approval of a plurality of the votes cast in person or by proxy at the Meeting at which a quorum exists. Approval of Proposals 2, 3, and 4 requires the approval of the lesser of (i) more than 50% of the outstanding shares of the applicable fund or class or (ii) 67% or more of the shares of that fund or class present or represented by proxy at the Meeting if more than 50% of such shares are present or represented by proxy. Broker-dealer firms holding shares of any of the Funds in "street name" for the benefit of their customers and clients will request the instructions of such customers and clients on how to vote their shares before the Meeting. Each Issuer, Fund, or Class will include shares held of record by broker-dealers as to which such authority has been granted in its tabulation of the total number of shares present for purposes of determining whether the necessary quorum of shareholder exists. Properly executed proxies that are returned but that are marked "abstain" or with respect to which a broker-dealer has declined to vote on any proposal ("broker non-votes") will be treated as shares that are present but which have not been voted. For this reason, abstentions and broker non-votes will have the effect of a "no" vote for purposes of obtaining the requisite approval of the proposals. In the event that a quorum is not present or in the event that a quorum is present but sufficient votes in favor of a Proposal have not been received, the persons named as proxies may propose one or more adjournments of the Meeting to permit further solicitation of proxies as to any Proposal. Any adjournment of the Meeting for the further solicitation of proxies for a Proposal will require the affirmative vote of a majority of the total number of shares entitled to vote on the Proposal that are present in person or by proxy at the Meeting to be adjourned. If the Meeting is adjourned for more than ninety days, then the Funds are required to send a new notice to shareholders. OUTSTANDING SHARES AND SIGNIFICANT SHAREHOLDERS Only holders of record of shares of the Issuers at the close of business on April 13, 2007 (the "Record Date") are entitled to vote on Proposal 1 at the Meeting or any adjournment thereof. The following chart sets forth the number of shares of each Issuer issued and outstanding and the number of votes entitled to vote as of the close of business on _____. - ------------------ ----------------- --------------------- --------------------- ISSUER SHARE CLASS OUTSTANDING SHARES NUMBER OF VOTES ENTITLED TO VOTE ($1 EQUALS 1 VOTE) - ------------------ ----------------- --------------------- --------------------- Only holders of record of shares of the Advisor Class of the Advisor Funds at the close of business on April 13, 2007 (the "Record Date") are entitled to vote on Proposal 2 at the Meeting or any adjournment thereof. The following chart sets forth the number of shares of each Advisor Class of the Advisor Funds issued and outstanding and the number of votes entitled to vote as of the close of business on _____. - ------------------ ----------------- --------------------- --------------------- FUND NAME SHARE CLASS OUTSTANDING SHARES NUMBER OF VOTES ENTITLED TO VOTE ($1 EQUALS 1 VOTE) - ------------------ ----------------- --------------------- --------------------- Only holders of record of shares of Real Estate at the close of business on April 13, 2007 (the "Record Date") are entitled to vote on Proposal 3 at the Meeting or any adjournment thereof. The following chart sets forth the number of shares of Real Estate issued and outstanding and the number of votes entitled to vote as of the close of business on _____. - ------------------ ----------------- --------------------- --------------------- FUND NAME SHARE CLASS OUTSTANDING SHARES NUMBER OF VOTES ENTITLED TO VOTE ($1 EQUALS 1 VOTE) - ------------------ ----------------- --------------------- --------------------- Only holders of record of shares of Equity Index at the close of business on April 13, 2007 (the "Record Date") are entitled to vote on Proposal 4 at the Meeting or any adjournment thereof. The following chart sets forth the number of shares of Equity Index issued and outstanding and the number of votes entitled to vote as of the close of business on _____. - ------------------ ----------------- --------------------- --------------------- FUND NAME SHARE CLASS OUTSTANDING SHARES NUMBER OF VOTES ENTITLED TO VOTE ($1 EQUALS 1 VOTE) - ------------------ ----------------- --------------------- --------------------- Exhibit B to this Proxy Statement lists for each Issuer, Fund or Class as applicable, the holders as of March 15, 2007, of more than 5% of the shares of any Issuer, Fund or Class as applicable. OTHER SERVICE PROVIDERS American Century Services, LLC, 4500 Main Street, Kansas City, Missouri 64111, an affiliate of the Advisor, serves as transfer agent of the American Century Funds. American Century Investment Services, Inc., 4500 Main Street, Kansas City, Missouri 64111, an affiliate of the Advisor, serves as distributor to the American Century Funds. WHERE TO FIND ADDITIONAL INFORMATION The Issuers are subject to the informational requirements of the Securities Act of 1933, the Securities Exchange Act of 1934, and the 1940 Act, and in accordance therewith file reports and other information with the SEC. Reports, proxy and information statements, and other information filed by the Issuers, on behalf of the Funds, can be obtained by calling or writing the Funds and can also be inspected and copied by the public at the public reference facilities maintained by the SEC in Washington, DC located at Room 1580, 100 F Street, N.E., Washington DC 20549. Copies of such material can be obtained at prescribed rates from the Public Reference Branch, Office of Consumer Affairs and Information Services, SEC, Washington DC 20549, or obtained electronically from the EDGAR database on the SEC's website (www.sec.gov). OTHER MATTERS AND DISCRETION OF ATTORNEYS NAMED IN THE PROXY The Issuers are not required, and do not intend, to hold regular annual meetings of shareholders. Shareholders wishing to submit proposals for consideration for inclusion in a Proxy Statement for the next meeting of shareholders should send their written proposals to Corporate Secretary, American Century Funds, P.O. Box 410141, Kansas City, Missouri, 64141, or by e-mail to corporatesecretary@americancentury.com so that they are received within a reasonable time before any such meeting. No business other than the matters described above is expected to come before the Meeting, but should any other matter requiring a vote of shareholders arise, including any question as to an adjournment or postponement of the Meeting, the persons named on the enclosed proxy card(s) will vote on such matters according to their best judgment in the interests of the Issuers. - -------------------------------------------------------------------------------- SHAREHOLDERS ARE REQUESTED TO COMPLETE, DATE AND SIGN THE ENCLOSED PROXY CARD(S) AND RETURN IT IN THE ENCLOSED ENVELOPE, WHICH NEEDS NO POSTAGE IF MAILED IN THE UNITED STATES. - -------------------------------------------------------------------------------- EXHIBIT A EQUITY OWNERSHIP OF NOMINEES - ------------------------- --------------------------------------------------------- ------------------------- NAME OF DIRECTOR FUND NAME/(DOLLAR RANGE OF EQUITY AGGREGATE DOLLAR RANGE OF SECURITIES IN THE FUND)* EQUITY SECURITIES IN ALL REGISTERED INVESTMENT COMPANIES OVERSEEN BY DIRECTOR IN FAMILY OF INVESTMENT COMPANIES - ------------------------------------------------------------------------------------------------------------- INTERESTED NOMINEES - ------------------------- --------------------------------------------------------- ------------------------- James E. Stowers Jr. AMERICAN CENTURY MUTUAL FUNDS, INC. Vista ($50,001-$100,000) ($50,001-$100,000) - ------------------------- --------------------------------------------------------- ------------------------- Jonathan S. Thomas AMERICAN CENTURY ASSET ALLOCATION PORTFOLIOS, INC. More than $100,000 LIVESTRONG 2045 ($50,001-$100,000) AMERICAN CENTURY CAPITAL PORTFOLIOS, INC. Real Estate ($1-$10,000) AMERICAN CENTURY STRATEGIC ASSET ALLOCATIONS, INC. Newton ($50,001-$100,000) AMERICAN CENTURY WORLD MUTUAL FUNDS, INC. Emerging Markets ($1-$10,000) International Discovery ($1-$10,000) Life Sciences ($1-$10,000) - ------------------------------------------------------------------------------------------------------------- INDEPENDENT DIRECTORS - ------------------------- --------------------------------------------------------- ------------------------- Thomas A. Brown AMERICAN CENTURY CAPITAL PORTFOLIOS, INC. More than $100,000 Equity Income ($10,001-$50,000) Equity Index ($10,001-$50,000) Large Company Value ($1-10,000) Mid Cap Value ($10,001-$50,000) Real Estate ($10,001-$50,000) Small Cap Value($10,001-$50,000) Value ($50,001-$100,000) AMERICAN CENTURY MUTUAL FUNDS, INC. Balanced ($10,001-$50,000) Capital Value ($1-$10,000) Focused Growth ($1-$10,000) Growth ($10,001-$50,000) Heritage ($1-$10,000) New Opportunities ($10,001-$50,000) Select ($10,001-$50,000) Ultra ($10,001-$50,000) Veedot ($10,001-$50,000) Vista ($10,001-$50,000) AMERICAN CENTURY WORLD MUTUAL FUNDS, INC. Emerging Markets ($10,001-$50,000) Global Growth ($10,001-$50,000) International Discovery ($10,001-$50,000) International Growth ($10,001-$50,000) International Stock ($1-10,000) Life Sciences ($1-10,000) Technology ($1-10,000) AMERICAN CENTURY STRATEGIC ASSET ALLOCATION, INC. Strategic Allocation: Conservative (More than $100,000) Strategic Allocation: Moderate ($1-$10,000) Strategic Allocation: Aggressive ($10,001-$50,000) AMERICAN CENTURY GROWTH FUNDS, INC. Legacy Focused Large Cap ($1-$10,000) Legacy Large Cap Growth ($1-$10,000) Legacy Multi-Cap Growth ($1-$10,000) - ------------------------- --------------------------------------------------------- ------------------------- Andrea C. Hall AMERICAN CENTURY CAPITAL PORTFOLIOS, INC. More than $100,000 Equity Income (More than $100,000) Value ($10,001-$50,000) AMERICAN CENTURY MUTUAL FUNDS, INC. Balanced ($10,001-$50,000) New Opportunities ($10,001-$50,000) Vista (More than $100,000) AMERICAN CENTURY WORLD MUTUAL FUNDS, INC. International Discovery ($10,001-$50,000) International Growth ($50,001-$100,000) - ------------------------- --------------------------------------------------------- ------------------------- James A. Olson AMERICAN CENTURY MUTUAL FUNDS, INC. $50,001-$100,000 Vista ($10,001-$50,000) AMERICAN CENTURY WORLD MUTUAL FUNDS, INC. International Growth ($10,001-$50,000) - ------------------------- --------------------------------------------------------- ------------------------- Donald H. Pratt AMERICAN CENTURY CAPITAL PORTFOLIOS, INC. More than $100,000 Real Estate (More than $100,000) Value ($50,001-$100,000) AMERICAN CENTURY MUTUAL FUNDS, INC. Heritage ($10,001-$50,000) New Opportunities ($10,001-$50,000) Veedot ($10,001-$50,000) AMERICAN CENTURY WORLD MUTUAL FUNDS, INC. Emerging Markets ($10,001-$50,000) International Discovery ($10,001-$50,000) Technology ($10,001-$50,000) - ------------------------- --------------------------------------------------------- ------------------------- Gale E. Sayers AMERICAN CENTURY MUTUAL FUNDS, INC. More than $100,000 Balanced ($10,001-$50,000) Select (More than $100,000) - ------------------------- --------------------------------------------------------- ------------------------- M. Jeannine Strandjord AMERICAN CENTURY CAPITAL PORTFOLIOS, INC. More than $100,000 Real Estate ($50,001-$100,000) Value (More than $100,000) AMERICAN CENTURY MUTUAL FUNDS, INC. Giftrust ($1-$10,000) AMERICAN CENTURY WORLD MUTUAL FUNDS, INC. Emerging Markets ($50,001-100,000) International Discovery (More than $100,000) - ------------------------- --------------------------------------------------------- ------------------------- Timothy S. Webster AMERICAN CENTURY CAPITAL PORTFOLIOS, INC. More than $100,000 Equity Income ($10,001-$50,000) Mid Cap Value ($10,001-$50,000) Small Cap Value ($10,001-$50,000) AMERICAN CENTURY GROWTH FUNDS, INC. Legacy Focused Large Cap ($10,001-$50,000) Legacy Large Cap Growth ($1-$10,000) Legacy Multi-Cap Growth ($10,001-$50,000) AMERICAN CENTURY MUTUAL FUNDS, INC. Capital Value ($10,001-$50,000) Heritage ($10,001-$50,000) New Opportunities ($10,001-$50,000) Ultra ($50,001-$100,000) Veedot (More than $100,000) Vista ($50,001-$100,000) AMERICAN CENTURY STRATEGIC ASSET ALLOCATIONS, INC. Newton ($10,001-$50,000) AMERICAN CENTURY WORLD MUTUAL FUNDS, INC. Emerging Markets ($50,001-$100,000) Global Growth ($10,001-$50,000) International Discovery (More than $100,000) - ------------------------- --------------------------------------------------------- ------------------------- *NOTE - FUNDS NOT LISTED ARE FUNDS IN WHICH NO SECURITIES ARE OWNED BY THE NOMINEES. EXHIBIT B SIGNIFICANT SHAREHOLDERS AMERICAN CENTURY ASSET ALLOCATION PORTFOLIOS, INC. PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- LIVESTRONG Income Portfolio - -------------------------------------------------------------------------------- Investor Class The Chase Manhattan Bank NA TR Hitachi Employee 401K Ret Plan Trust New York, New York - -------------------------------------------------------------------------------- Institutional Class JPMorgan Chase Bank Trustee Taylor Companies 401K and Profit Sharing Plans Kansas City, Missouri Trustees of Hapag-Lloyd America Inc Svgs Inv Plan & Trust Piscataway, New Jersey JPMorgan Chase Bank Trustee FBO United Business Media 401K Plan Kansas City, Missouri Trustees of American Century P/S & 401K Savings Plan & Trust Kansas City, Missouri - -------------------------------------------------------------------------------- R Class Luke Scamardo, II, MD, C.H. Prihoda, Jr, MD, Pollachi Selvakumarraj, MD FBO Navasota Medical Center 401K Plan Navasota, Texas MG Trust Company as Agent for Frontier Trust Co as TR Waldorf Tire Center Inc 401K Pl Fargo, North Dakota American Century Investment Management, Inc. Kansas City, Missouri MG Trust Company TR Nova Steel Processing Inc. Retirement Denver, Colorado - -------------------------------------------------------------------------------- Advisor Class Ohio National Life Insurance Co. For Benefit of Separate Accounts Cincinnati, Ohio James B. Anderson TR American Chamber of Commerce Execut & Restated 401K Plan & Trust Springfield, Missouri - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- LIVESTRONG 2015 Portfolio - -------------------------------------------------------------------------------- Investor Class The Chase Manhattan Bank NA TR Hitachi Employee 401K Ret Plan Trust New York, New York - -------------------------------------------------------------------------------- Institutional Class JPMorgan Chase Bank Trustee FBO United Business Media 401K Plan Kansas City, Missouri JPMorgan Chase Bank Trustee Taylor Companies 401K and Profit Sharing Plans Kansas City, Missouri Trustees of American Century P/S & 401K Savings Plan & Trust Kansas City, Missouri - -------------------------------------------------------------------------------- R Class MG Trust Company as Agent for Frontier Trust Co as TR Claymore C Sieck 401K Fargo, North Dakota MG Trust Company TR Benesys Inc 401K Profit Sharing Denver, Colorado MG Trust Company Cust FBO Medical Diagonostic Laboratory Inc. Denver, Colorado MG Trust Company TR Trachte Channelframe Buildings 401 Denver, Colorado MG Trust Company Cust FBO Cabinet Components & Distribution Denver, Colorado - -------------------------------------------------------------------------------- Advisor Class Ohio National Life Insurance Co. For Benefit of Separate Accounts Cincinnati, Ohio Amvescap Natl Trust Co as Agent for FBO Standard Process Inc. PS & Pension Plan Atlanta, Georgia James B. Anderson TR American Chamber of Commerce Execut & Restated 401K Plan & Trust Springfield, Missouri - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- LIVESTRONG 2025 Portfolio - -------------------------------------------------------------------------------- Investor Class The Chase Manhattan Bank NA TR Hitachi Employee 401K Ret Plan Trust New York, New York - -------------------------------------------------------------------------------- JPMorgan Chase as Trustee FBO Key Energy Services 401K Savings & Retirement PL Kansas City, Missouri - -------------------------------------------------------------------------------- Institutional Class JPMorgan Chase Bank Trustee Taylor Companies 401K and Profit Sharing Plans Kansas City, Missouri Trustees of American Century P/S & 401K Savings Plan & Trust Kansas City, Missouri Trustees of Hapag-Lloyd America Inc Svgs Inv Plan & Trust Piscataway, New Jersey - -------------------------------------------------------------------------------- R Class MG Trust Company Cust FBO Chad Eakin Concrete 401K Profit S Denver, Colorado MG Trust Company as Agent for Frontier Trust Co as TR Claymore C. Sieck 401K Fargo, North Dakota MG Trust Company Cust FBO Medical Diagnostic Laboratory Inc. Denver, Colorado MG Trust Company Cust FBO Alternative Business Furniture 401 Denver, Colorado Patterson & Co FBO Greenwood Mills Thrift Plan Charlotte, North Carolina MG Trust Company as Agent for Frontier Trust Co as TR The Neuroscience Center of N NJ Fargo, North Dakota Julie Kutner Van De Zande, Cornelius Van De Zande FBO Emergo Group Inc. 401K Austin, Texas - -------------------------------------------------------------------------------- Advisor Class Ohio National Life Insurance Co. For Benefit of Separate Accounts Cincinnati, Ohio James B. Anderson TR American Chamber or Commerce Execut & Restated 401K Plan & Trust Springfield, Missouri - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- LIVESTRONG 2035 Portfolio - -------------------------------------------------------------------------------- Investor Class The Chase Manhattan Bank NA TR Hitachi Employee 401K Ret Plan Trust New York, New York - -------------------------------------------------------------------------------- Institutional Class Trustees of American Century P/S & 401K Savings Plan & Trust Kansas City, Missouri JPMorgan Chase Bank Trustee FBO United Business Media 401K Plan Kansas City, Missouri Trustees of Hapag-Lloyd America Inc Svgs Inv Plan & Trust Piscataway, New Jersey JPMorgan Chase Bank Trustee Taylor Companies 401K and Profit Sharing Plans Kansas City, Missouri M L P F & S For the Sole Benefit of its Customers Jacksonville, Florida UMB TR American Century Executive Def Comp Plan Trust Kansas City, Missouri - -------------------------------------------------------------------------------- R Class Patterson & Co FBO Greenwood Mills Thrift Plan Charlotte, North Carolina MG Trust Company as Agent for Frontier Trust Co as TR Claymore C Sieck 401K Fargo, North Dakota` MG Trust Company TR Trachte Channelframe Buildings 401 Denver, Colorado MG Trust Company Cust FBO Equity Investment Group Inc. 401K Denver, Colorado MCB Trust Services as Agent Frontier Trust Co as Trustee Mid-Atlantic Renal Coalition 401 K Fargo, North Dakota MG Trust Company as Agent for Frontier Trust Co as TR Architects Planners & Conservators Fargo, North Dakota - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- LIVESTRONG 2035 Portfolio - -------------------------------------------------------------------------------- Advisor Class Ohio National Life Insurance Co. For Benefit of Separate Accounts Cincinnati, Ohio Amvescap Natl Trust Co as Agent for JPMorgan FBO Beechmont Press PS and Thrift Plan Atlanta, Georgia - -------------------------------------------------------------------------------- LIVESTRONG 2045 Portfolio - -------------------------------------------------------------------------------- Investor Class JPMorgan Chase Bank Trustee Kearfott Guidance & Navigation Corp. Deferred Savings Plan Kansas City, Missouri The Chase Manhattan Bank NA TR Hitachi Employee 401K Ret Plan Trust New York, New York JPMorgan Chase as Trustee FBO Key Energy Services 401K Savings & Retirement PL Kansas City, Missouri - -------------------------------------------------------------------------------- Institutional Class JPMorgan Chase Bank Trustee Taylor Companies 401K and Profit Sharing Plans Kansas City, Missouri Trustees of American Century P/S & 401K Savings Plan & Trust Kansas City, Missouri Trustees of Hapag-Lloyd America Inc. Svgs Inv Plan & Trust Piscataway, New Jersey Prudential Investment Mgmt Svc FBO Mutual Fund Clients Newark, New Jersey - -------------------------------------------------------------------------------- R Class Eric Wootom FBO EMS Plumbing Heating AC Inc. Safe Harbor 401K Plan Ridgeland, Mississippi Patterson & Co FBO Greenwood Mills Thrift Plan Charlotte, North Carolina MG Trust Company Cust FBO Chad Eakin Concrete 401K Profit S Denver, Colorado MG Trust Company TR Precision Control Systems 401K Plan Denver, Colorado MG Trust Company TR Trachte Channelframe Buildings 401 Denver, Colorado - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- LIVESTRONG 2045 Portfolio - -------------------------------------------------------------------------------- R Class MG Trust Company as Agent for Frontier Trust Co as TR The Wall Street Group Inc. 401K P Fargo, North Dakota MG Trust Company Cust FBO Medical Diagnostic Laboratory Inc. Denver, Colorado - -------------------------------------------------------------------------------- Advisor Class Ohio National Life Insurance Co. For Benefit of Separate Accounts Cincinnati, Ohio Amvescap Natl Trust Co as Agent For JP Morgan FBO Beechmont Press PS & Thrift Plan Fargo, North Dakota Frontier Trust Co. TR Superior Products 401K Plan Fargo, North Dakota - -------------------------------------------------------------------------------- One Choice Portfolio: Very Conservative - -------------------------------------------------------------------------------- Investor Class - -------------------------------------------------------------------------------- None - -------------------------------------------------------------------------------- One Choice Portfolio: Conservative - -------------------------------------------------------------------------------- Investor Class None - -------------------------------------------------------------------------------- One Choice Portfolio: Moderate - -------------------------------------------------------------------------------- Investor Class None - -------------------------------------------------------------------------------- One Choice Portfolio: Aggressive - -------------------------------------------------------------------------------- Investor Class None - -------------------------------------------------------------------------------- One Choice Portfolio: Very Aggressive - -------------------------------------------------------------------------------- Investor Class None - -------------------------------------------------------------------------------- AMERICAN CENTURY CAPITAL PORTFOLIOS PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Equity Income - -------------------------------------------------------------------------------- Investor Charles Schwab & Co., Inc. San Francisco, California National Financial Services Corp. New York, New York - -------------------------------------------------------------------------------- Institutional Fidelity FIIOC TR FBO Certain Employee Benefit Plans c/o Fidelity Investments Covington, Kentucky Charles Schwab & Co. Inc. San Francisco, California UBATCO & Co. FBO College Savings Plan Lincoln, Nebraska National Financial Services LLC New York, New York Mac & Co. Mutual Fund Operations Pittsburgh, Pennsylvania Dingle & Co. c/o Comerica Bank Detroit, Michigan - -------------------------------------------------------------------------------- C None - -------------------------------------------------------------------------------- R ING Life Insurance and Annuity Co. Hartford, Connecticut ING National Trust Hartford, Connecticut Hartford Life Ins. Co. Hartford, Connecticut Symetra Investment Services Seattle, Washington - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Equity Income - -------------------------------------------------------------------------------- Advisor Charles Schwab & Co., Inc. San Francisco, California Delaware Charter Guarantee & Trust FBO Principal Financial Group Des Moines, Iowa Delaware Charter Guarantee & Trust FBO Various Qualified Plans Des Moines, Iowa - -------------------------------------------------------------------------------- Equity Index - -------------------------------------------------------------------------------- Investor Pershing LLC Jersey City, New Jersey - -------------------------------------------------------------------------------- Institutional Northwestern Mutual Life Milwaukee, Wisconsin JPMorgan Chase Bank Trustee Texas Health Retirement Program Kansas City, Missouri JPMorgan Chase Bank TR Newell Rubbermaid 401k Savings Plan and Trust Kansas City, Missouri - -------------------------------------------------------------------------------- JP Morgan Chase & Co TTEE Perot Systems Corp Retirement Saving Plan Kansas City, Missouri - -------------------------------------------------------------------------------- Large Company Value - -------------------------------------------------------------------------------- Investor Fidelity FIIOC TR FBO Certain Employee Benefit Plans c/o Fidelity Investments Covington, Kentucky Saxon & Co. Philadelphia, Pennsylvania JP Morgan Chase Bank Trustee FBO Coca-Cola Enterprises, Inc. Matched Empl Svgs & Investment Plan Kansas City, Missouri - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Large Company Value - -------------------------------------------------------------------------------- Institutional - -------------------------------------------------------------------------------- Saxon & Co. Philadelphia, Pennsylvania JPMorgan Chase Bank Trustee FBO Toro Co. Investment Savings & Employee Stock Ownership Plan Kansas City, Missouri JPMorgan Chase Bank Trustee Taylor Companies 401k and Profit Sharing Plans Kansas City, Missouri JPMorgan Chase as Trustee FBO HP Hood LLC Retirement Savings Plan Kansas City, Missouri JP Morgan Chase Bank Trustee Collins & Aikman Pension Trust Brooklyn, New York JP Morgan Chase Bank Trustee FBO Clarian Health Partners Defined Contribution Plan Kansas City, Missouri - -------------------------------------------------------------------------------- A Charles Schwab & Co., Inc. San Francisco, California - -------------------------------------------------------------------------------- B MLPF&S Inc. Jacksonville, Florida - -------------------------------------------------------------------------------- C MLPF&S, Inc. Jacksonville, Florida - -------------------------------------------------------------------------------- R ING Life Insurance and Annuity Co. Hartford, Connecticut ING National Trust Hartford, Connecticut - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Large Company Value - -------------------------------------------------------------------------------- Advisor Nationwide Insurance Co. Trust Columbus, Ohio TransAmerica Life Insurance Company Cedar Rapids, Iowa Saxon & Co. Philadelphia, Pennsylvania American Century Serv. Corp. Schwab - Moderately Aggressive Large Co. Value Advisor Omnibus Kansas City, Missouri American Century Serv. Corp. Schwab - Aggressive Large Co. Value Advisor Omnibus Kansas City, Missouri - -------------------------------------------------------------------------------- National Financial Services LLC New York, New York - -------------------------------------------------------------------------------- American United Life Group Retirement Annuity II Indianapolis, Indiana - -------------------------------------------------------------------------------- Mid Cap Value - -------------------------------------------------------------------------------- Investor None - -------------------------------------------------------------------------------- Institutional Rockhurst University Endowment Fund Kansas City, Missouri Trustees of American Century P/S & 401k Savings Plan & Trust Kansas City, Missouri Charles Schwab & Co., Inc. San Francisco, California UMB TR American Century Executive Def Comp Plan Trust Kansas City, Missouri - -------------------------------------------------------------------------------- R - -------------------------------------------------------------------------------- American Century Investment Management Inc. Kansas City, Missouri - -------------------------------------------------------------------------------- MG Trust Company Cust FBO State Telephone Company 401k P/S Denver, Colorado - -------------------------------------------------------------------------------- Advisor Charles Schwab & Co., Inc. San Francisco, California Commerce Trust Kansas City, Missouri - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- NT Large Company Value - -------------------------------------------------------------------------------- Institutional American Century Serv Port LIVESTRONGâ„¢ 2025 Portfolio NT Large Company Value Omnibus Kansas City, Missouri American Century Serv Corp LIVESTRONGâ„¢ 2015 Portfolio NT Large Company Value Omnibus Kansas City, Missouri American Century Serv Corp LIVESTRONGâ„¢ 2035 Portfolio NT Large Company Value Omnibus Kansas City, Missouri American Century Serv Corp LIVESTRONGâ„¢ 2045 Portfolio NT Large Company Value Omnibus Kansas City, Missouri American Century Serv Corp LIVESTRONGâ„¢ Income Portfolio NT Large Company Value Omnibus Kansas City, Missouri - -------------------------------------------------------------------------------- NT Mid Cap Value - -------------------------------------------------------------------------------- Institutional American Century Serv Port LIVESTRONGâ„¢ 2025 Portfolio NT Mid Cap Value Omnibus Kansas City, Missouri American Century Serv Corp LIVESTRONGâ„¢ 2015 Portfolio NT Mid Cap Value Omnibus Kansas City, Missouri American Century Serv Corp LIVESTRONGâ„¢ 2035 Portfolio NT Mid Cap Value Omnibus Kansas City, Missouri American Century Serv Corp LIVESTRONGâ„¢ 2045 Portfolio NT Mid Cap Value Omnibus Kansas City, Missouri American Century Serv Corp LIVESTRONGâ„¢ Income Portfolio NT Mid Cap Value Omnibus Kansas City, Missouri - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Real Estate - -------------------------------------------------------------------------------- Investor Charles Schwab & Co., Inc. San Francisco, California - -------------------------------------------------------------------------------- ICMA Retirement Trust-NAV Washington, D.C. - -------------------------------------------------------------------------------- Pershing LLC Jersey City, New Jersey - -------------------------------------------------------------------------------- Institutional FIIOC c/o Fidelity Investments Covington, Kentucky State Street Bank & Trust Co TTEE FBO Towers Perrin Deferred PSP Westwood, Massachusetts The Chase Manhattan Bank NA TR Huntsman Corp Salary Deferral Plan & Trust New York, New York Charles Schwab & Co., Inc. San Francisco, California JP Morgan Chase Bank Cust FBO Housing Renewal Local Agency Retirement Plan Brooklyn, New York - -------------------------------------------------------------------------------- Advisor Charles Schwab & Co., Inc. San Francisco, California Nationwide Trust Co. FSB Columbus, Ohio American United Life Group Retirement Annuity II Indianapolis, Indiana - -------------------------------------------------------------------------------- The Guardian Insurance & Annuity Company Inc. Bethlehem, Pennsylvania - -------------------------------------------------------------------------------- Reliance Trust Company Directed TR MetLife Retirement & Savings Jersey City, New Jersey - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Small Cap Value - -------------------------------------------------------------------------------- Investor Delaware Charter Guar & TR Co. Cust FBO Principal Financial Group Des Moines, Iowa Charles Schwab & Co., Inc. San Francisco, California Amer United Life Ins Co. Group Retirement Annuity Sep Acct II Indianapolis, Indiana - -------------------------------------------------------------------------------- Institutional Fidelity FIIOC TR FBO Certain Employee Benefit Plans c/o Fidelity Investments Covington, Kentucky MLPF&S Jacksonville, Florida - -------------------------------------------------------------------------------- C None - -------------------------------------------------------------------------------- Advisor Nationwide Trust Company FSB Columbus, Ohio Hartford Life Insurance Company Hartford, Connecticut Delaware Charter Guarantee & Trust FBO Principal Financial Group Des Moines, Iowa Saxon & Co. Philadelphia, Pennsylvania - -------------------------------------------------------------------------------- TransAmerica Life Insurance Company Cedar Rapids, Iowa - -------------------------------------------------------------------------------- Value - -------------------------------------------------------------------------------- Investor None - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Value - -------------------------------------------------------------------------------- Institutional JPMorgan Chase Bank Trustee Bosch Savings Incentive Plan Kansas City, Missouri JP Morgan Chase Bank Trustee Black & Veatch Employee Savings Plan Kansas City, Missouri State Street Bank & Trust TR Lowes 401k Plan Westwood, Massachusetts Trustees of American Century P/S & 401k Savings Plan & Trust Kansas City, Missouri The Chase Manhattan Bank NA TR Huntsman Corp. Salary Deferral Plan & Trust New York, New York - -------------------------------------------------------------------------------- A Charles Schwab & Co., Inc. San Francisco, California - -------------------------------------------------------------------------------- B None - -------------------------------------------------------------------------------- C MLPF&S, Inc. Jacksonville, Florida - -------------------------------------------------------------------------------- R - -------------------------------------------------------------------------------- Trustlynx & Co. Denver, Colorado - -------------------------------------------------------------------------------- American Century Investment Management Inc. Kansas City, Missouri - -------------------------------------------------------------------------------- KCB Services and Company FBO Jerry Austin Quads Trust Company Frederick, Maryland - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Value - -------------------------------------------------------------------------------- Advisor Nationwide Trust Company FSB Columbus, Ohio Delaware Charter Guarantee & Trust FBO Principal Financial Group Des Moines, Iowa Nationwide Insurance Company QPVA Columbus, Ohio James B. Anderson TR American Chamber of Commerce Execut. & Restated 401k Plan & Trust Springfield, Missouri Reliance Trust Co. Directed TR MetLife Retirement & Savings Jersey City, New Jersey - -------------------------------------------------------------------------------- AMERICAN CENTURY GROWTH FUNDS, INC. PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Legacy Focused Large Cap - -------------------------------------------------------------------------------- Investor Class American Century Investment Management, Inc. Kansas City, Missouri Robert T. Jackson I.R.A. - Rollover Naples, Florida Harold S. Bradley and Kathryn Andrasik-Bradley JT WROS Leawood, Kansas Michael Shih & Ling T Shih Trustee Ling T Shih MD PC Pension Trust Midland, Michigan - -------------------------------------------------------------------------------- Institutional Class American Century Investment Management, Inc. Kansas City, Missouri - -------------------------------------------------------------------------------- R Class American Century Investment Management, Inc. Kansas City, Missouri - -------------------------------------------------------------------------------- Advisor Class American Century Investment Management, Inc. Kansas City, Missouri - -------------------------------------------------------------------------------- Pershing LLC Jersey City, New Jersey - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Legacy Large Cap - -------------------------------------------------------------------------------- Investor Class American Century Investment Management, Inc. Kansas City, Missouri Ding - Jen Lee I.R.A. Rollover Columbia, Maryland - -------------------------------------------------------------------------------- Michael Shih & Ling T Shih Trustee Ling T Shih MD PC Pension Trust Midland, Michigan - -------------------------------------------------------------------------------- Institutional Class American Century Investment Management, Inc. Kansas City, Missouri - -------------------------------------------------------------------------------- R Class American Century Investment Management, Inc. Kansas City, Missouri - -------------------------------------------------------------------------------- Advisor Class American Century Investment Management, Inc. Kansas City, Missouri - -------------------------------------------------------------------------------- Legacy Multi Cap - -------------------------------------------------------------------------------- Investor Class American Century Investment Management, Inc. Kansas City, Missouri - -------------------------------------------------------------------------------- Michael Shih & Ling T Shih Trustee Ling T Shih MD PC Pension Trust Midland, Michigan - -------------------------------------------------------------------------------- Institutional Class American Century Investment Management, Inc. Kansas City, Missouri - -------------------------------------------------------------------------------- R Class American Century Investment Management, Inc. Kansas City, Missouri - -------------------------------------------------------------------------------- Advisor Class American Century Investment Management, Inc. Kansas City, Missouri Pershing LLC Jersey City, New Jersey - -------------------------------------------------------------------------------- AMERICAN CENTURY MUTUAL FUNDS, INC. PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Balanced - -------------------------------------------------------------------------------- Investor Class Charles Schwab & Co., Inc. San Francisco, California - -------------------------------------------------------------------------------- Institutional Class National Financial Services LLC New York, New York Trustees of American Century Mutual Funds Indep Directors Def Comp Plan Kansas City, Missouri - -------------------------------------------------------------------------------- Advisor Class Charles Schwab & Co., Inc. San Francisco, California MLPF&S, Inc. Jacksonville, Florida Delaware Charter Guarantee & Trust Des Moines, Iowa National Financial Services LLC New York, New York Mitra & Co Exp M&I Trust Company NA Milwaukee, Wisconsin Nationwide Trust Company Columbus, Ohio - -------------------------------------------------------------------------------- Capital Growth - -------------------------------------------------------------------------------- Investor Class American Century Investment Management, Inc. Kansas City, Missouri National Financial Services Corp New York, New York Charles Schwab & Co San Francisco, California - -------------------------------------------------------------------------------- Institutional Class American Century Investment Management, Inc. Kansas City, Missouri - -------------------------------------------------------------------------------- A Class American Century Investment Management, Inc. Kansas City, Missouri Charles Schwab & Co., Inc. San Francisco, California American Enterprise Investment Svcs Minneapolis, Minnesota - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Capital Growth - -------------------------------------------------------------------------------- B Class American Century Investment Management, Inc. Kansas City, Missouri MLPF&S, Inc. Jacksonville, Florida Bear Stearns Securities Corp. Brooklyn, New York - -------------------------------------------------------------------------------- C Class American Century Investment Management, Inc. Kansas City, Missouri AG Edwards & Sons Inc. FBO RRF Investments LLC St. Louis, Missouri MLPF&S Inc Jacksonville, Florida First Clearing, LLC Annandale, New Jersey - -------------------------------------------------------------------------------- R Class American Century Investment Management, Inc. Kansas City, Missouri - -------------------------------------------------------------------------------- Capital Value - -------------------------------------------------------------------------------- Investor Class Charles Schwab & Co., Inc. San Francisco, California Saxon & Co Philadelphia, Pennsylvania US Bank Trustee Private Asset O/A Platform Milwaukee, Wisconsin - -------------------------------------------------------------------------------- Institutional Class Charles Schwab & Co., Inc. San Francisco, California Saxon & Co. Philadelphia, Pennsylvania - -------------------------------------------------------------------------------- Advisor Class Nationwide Trust Company Columbus, Ohio Charles Schwab & Co., Inc. San Francisco, California National Financial Services Corp New York, New York - -------------------------------------------------------------------------------- Focused Growth - -------------------------------------------------------------------------------- Investor Class National Financial Services LLC New York, New York - -------------------------------------------------------------------------------- Fundamental Equity - -------------------------------------------------------------------------------- Investor Class Raymond James & Assoc Inc. FBO Mammoser St. Petersburg, Florida Raymond James & Assoc Inc. FBO Dubey ML IRA St. Petersburg, Florida - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Fundamental Equity - -------------------------------------------------------------------------------- Investor Class Charles Schwab & Co., Inc. San Francisco, California Gerard P. Sullivan & Gail M. Sullivan JT WROS Overland Park, Kansas - -------------------------------------------------------------------------------- Institutional Class American Century Investment Management, Inc. Kansas City, Missouri - -------------------------------------------------------------------------------- A Class Charles Schwab & Co., Inc. San Francisco, California - -------------------------------------------------------------------------------- B Class MLPF&S Inc. Jacksonville, Florida - -------------------------------------------------------------------------------- C Class MLPF&S Inc. Jacksonville, Florida - -------------------------------------------------------------------------------- R Class American Century Investment Management, Inc. Kansas City, Missouri - -------------------------------------------------------------------------------- Giftrust - -------------------------------------------------------------------------------- Investor Class None - -------------------------------------------------------------------------------- Growth - -------------------------------------------------------------------------------- Investor Class None - -------------------------------------------------------------------------------- Institutional Class State Street Bank TR Lockheed Martin Co Defined Contributions Plans Master Trust Westwood, Massachusetts JP Morgan Chase Bank TTEE Avon Personal Savings Account Plan Trust New York, New York - -------------------------------------------------------------------------------- C Class Pershing LLC Jersey City, New Jersey - -------------------------------------------------------------------------------- NFS LLC FEBO A Daigger & Co Inc. LED DEF Vernon Hills, Illinois - -------------------------------------------------------------------------------- R Class ING Life Insurance and Annuity Co Hartford, Connecticut MG Trust Cust FBO Resource Control Associates Inc. Denver, Colorado - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Growth - -------------------------------------------------------------------------------- R Class MLPF&S, Inc. Jacksonville, Florida - -------------------------------------------------------------------------------- Advisor Class Charles Schwab & Co., Inc. San Francisco, California Nationwide Trust Company FSB Columbus, Ohio - -------------------------------------------------------------------------------- Heritage - -------------------------------------------------------------------------------- Investor Class Charles Schwab & Co., Inc. San Francisco, California - -------------------------------------------------------------------------------- Institutional Class Chase Manhattan Bank Trustee The BOC Group Inc. Savings Investment Plan Trust New York, New York Trustees of American Century P/S & 401(k) Savings Plan & Trust Kansas City, Missouri State Street Bank & Trust Trustee AFP Habitat North Quincy, Massachusetts - -------------------------------------------------------------------------------- C Class None - -------------------------------------------------------------------------------- Advisor Class Charles Schwab & Co., Inc. San Francisco, California MCB Trust Services as Agent For Citizens Bank as Trustee FBO Centimark Corporation 401k Plan Providence, Rhode Island - -------------------------------------------------------------------------------- Mid Cap Growth - -------------------------------------------------------------------------------- Investor Class American Century Investment Management, Inc. Kansas City, Missouri I.R.A. - Roth Steve A. Vento Olympia, Washington - -------------------------------------------------------------------------------- Institutional Class Northwestern Mutual Life Milwaukee, Wisconsin Maroon Inc. Milwaukee, Wisconsin - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Mid Cap Growth - -------------------------------------------------------------------------------- A Class None - -------------------------------------------------------------------------------- B Class None - -------------------------------------------------------------------------------- C Class American Century Investment Management, Inc. Kansas City, Missouri Scottrade Inc FBO John J. Harrison IRA St. Louis, Missouri Pershing LLC Jersey City, New Jersey - -------------------------------------------------------------------------------- R Class American Century Investment Management, Inc. Kansas City, Missouri - -------------------------------------------------------------------------------- New Opportunities - -------------------------------------------------------------------------------- Investor Class Trustees of American Century Profit Sharing and 401K Savings Plan & Trust Kansas City, Missouri - -------------------------------------------------------------------------------- New Opportunities II - -------------------------------------------------------------------------------- Investor Class US Bank Trustee Private Asset O/A Platform Milwaukee, Wisconsin American Century Investment Management, Inc. Kansas City, Missouri MLPF&S Inc. Jacksonville, Florida - -------------------------------------------------------------------------------- Institutional Class None - -------------------------------------------------------------------------------- A Class Charles Schwab & Co., Inc. San Francisco, California - -------------------------------------------------------------------------------- B Class None - -------------------------------------------------------------------------------- C Class MLPF&S Inc. Jacksonville, Florida - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- NT Growth - -------------------------------------------------------------------------------- Institutional Class American Century Serv Port LIVESTRONGâ„¢ 2025 Portfolio NT Growth Omnibus Kansas City, Missouri American Century Serv Corp LIVESTRONGâ„¢ 2035 Portfolio NT Growth Omnibus Kansas City, Missouri American Century Serv Corp LIVESTRONGâ„¢ 2015 Portfolio NT Growth Omnibus Kansas City, Missouri American Century Serv Corp LIVESTRONGâ„¢ 2045 Portfolio NT Growth Omnibus Kansas City, Missouri - -------------------------------------------------------------------------------- NT Vista - -------------------------------------------------------------------------------- Institutional Class American Century Serv Port LIVESTRONGâ„¢ Kansas City, Missouri American Century Serv Corp LIVESTRONGâ„¢ 2035 Portfolio NT Vista Omnibus Kansas City, Missouri American Century Serv Corp LIVESTRONGâ„¢ 2015 Portfolio NT Vista Omnibus Kansas City, Missouri American Century Serv Corp LIVESTRONGâ„¢ 2045 Portfolio NT Vista Omnibus Kansas City, Missouri - -------------------------------------------------------------------------------- Select - -------------------------------------------------------------------------------- Investor Class None - -------------------------------------------------------------------------------- Institutional Class Northwestern Mutual Life Milwaukee, Wisconsin Maroon Inc. Milwaukee, Wisconsin The Chase Manhattan Bank NA TR Huntsman Corp Salary Deferral Plan & Trust New York, New York The Chase Manhattan Bank NA TR Huntsman Corp MPP Plan & Trust New York, New York - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Select - -------------------------------------------------------------------------------- A Class Charles Schwab & Co., Inc. San Francisco, California - -------------------------------------------------------------------------------- B Class None - -------------------------------------------------------------------------------- C Class MLPF&S Inc. Jacksonville, Florida - -------------------------------------------------------------------------------- R Class American Century Investment Management, Inc. Kansas City, Missouri - -------------------------------------------------------------------------------- Advisor Class UMB Bank NA Fiduciary for Various Deferred Accounts Topeka, Kansas MG Trust Company Cust FBO Rosen Hotels & Resorts Inc Denver, Colorado Security Benefit Life Insurance Co. Topeka, Kansas MLPF&S Inc. Jacksonville, Florida Orchard Trust Company, LLC Cust RHD Investors Choice 403B7 Englewood, Colorado Saxon & Co Philadelphia, Pennsylvania - -------------------------------------------------------------------------------- Small Cap Growth - -------------------------------------------------------------------------------- Investor Class Charles Schwab & Co., Inc. San Francisco, California Prudential Investment MGMT SVC Newark, New Jersey American Century Investment Management, Inc. Kansas City, Missouri - -------------------------------------------------------------------------------- Institutional Class American Century Investment Management, Inc. Kansas City, Missouri - -------------------------------------------------------------------------------- A Class None - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Small Cap Growth - -------------------------------------------------------------------------------- B Class None - -------------------------------------------------------------------------------- C Class Pershing LLC Jersey City, New Jersey American Century Investment Management, Inc. Kansas City, Missouri - -------------------------------------------------------------------------------- R Class American Century Investment Management, Inc. Kansas City, Missouri - -------------------------------------------------------------------------------- Ultra - -------------------------------------------------------------------------------- Investor Class Charles Schwab & Co., Inc. San Francisco, California - -------------------------------------------------------------------------------- Institutional Class JP Morgan Chase Bank Trustee 401(k) Savings Plan of JP Morgan Chase & Co. Trust Brooklyn, New York Fidelity FIIOC TR FBO Intel SERP 401k Covington, Kentucky JP Morgan Chase Bank Trustee Bosch Savings Incentive Plan Kansas City, Missouri JP Morgan Chase TR The Interpublic Group of Companies Inc. Savings Plan Trust New York, New York Nationwide Trust Company FBO Participating Retirement Plans TPA-NTC Columbus, Ohio Northern Trust Co TR Goodyear Tire & Rubber Company 401K Plan Trust Chicago, Illinois - -------------------------------------------------------------------------------- C Class Boone County National Bank Cust FBP MO Bar 457(B) Plan Columbia, Missouri - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Ultra - -------------------------------------------------------------------------------- R Class ING National Trust Hartford, Connecticut ING Life Insurance and Annuity Co. Hartford, Connecticut Massachusetts Mutual Life Insurance Springfield, Massachusetts Hartford Life Ins Co Hartford, Connecticut Symetra Investment Services Seattle, Washington - -------------------------------------------------------------------------------- Advisor Class - -------------------------------------------------------------------------------- Nationwide Trust Company Columbus, Ohio Charles Schwab & Co., Inc. San Francisco, California ING Life Insurance and Annuity Co Hartford, Connecticut PRIAC as Trustee/Custodian For Various Retirement Plans Kansas City, Missouri - -------------------------------------------------------------------------------- Veedot - -------------------------------------------------------------------------------- Investor Class None - -------------------------------------------------------------------------------- Institutional Class Trustees of American Century P/S & 401K Savings Plan & Trust Kansas City, Missouri American Century Investment Management, Inc. Kansas City, Missouri UMB TR American Century Executive Deferred Comp Plan Trust Kansas City, Missouri - -------------------------------------------------------------------------------- Vista - -------------------------------------------------------------------------------- Investor Class John Hancock Life Ins Co. USA Toronto, Ontario - -------------------------------------------------------------------------------- Institutional Class Delaware Charter Guarantee & Trust Des Moines, Iowa - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Vista - -------------------------------------------------------------------------------- Institutional Class Trustees of American Century P/S and 401K Savings Plan and Trust Kansas City, Missouri The Chase Manhattan Bank NA TR Huntsman Corp Salary Deferral Plan & Trust New York, New York JP Morgan Chase Bank Trustee Black & Veatch Employee Savings Plan Kansas City, Missouri JP Morgan Chase Bank Trustee Astellas US Retirement and Savings Plan Kansas City, Missouri - -------------------------------------------------------------------------------- C Class Delaware Charter Guarantee & Trust FBO Various Qualified Plans Des Moines, Iowa - -------------------------------------------------------------------------------- Delaware Charter Guarantee & Trust FBO Principal Financial Group Omnibus Qualified Des Moines, Iowa - -------------------------------------------------------------------------------- R Class MFS Heritage Trust Co Boston, Massachusetts Mid-Atlantic Trust FBO Aqua-Chem Ret PL & Savings Ridgeland, Mississippi American Century Investment Management, Inc. Kansas City, Missouri - -------------------------------------------------------------------------------- Advisor Class Trustar/Delaware Charter FBO Principal Financial Group Wilmington, Delaware Charles Schwab & Co., Inc. San Francisco, California Oklahoma Public Employees Retirement System Board of Trustees FBO OK State Employees Def Comp Plan Greenwood Village, Colorado Delaware Charter Guarantee & Trust FBO Various Qualified Plans Des Moines, Iowa Transamerica Life Insurance Company Cedar Rapids, Iowa - -------------------------------------------------------------------------------- AMERICAN CENTURY STRATEGIC ASSET ALLOCATIONS, INC. PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Strategic Allocation: Conservative - -------------------------------------------------------------------------------- Investor JPMorgan Chase Bank Trustee Andersen Corporation Employees 401k Plan Kansas City, Missouri The Guardian Insurance & Annuity Company, Inc. Bethlehem, Pennsylvania - -------------------------------------------------------------------------------- Institutional State Street Corp Trustee FBO Hallmark Cards Inc. Westwood, Massachusetts - -------------------------------------------------------------------------------- A Charles Schwab & Co. San Francisco, California - -------------------------------------------------------------------------------- M L P F & S Inc. Jacksonville, Florida - -------------------------------------------------------------------------------- B None - -------------------------------------------------------------------------------- C M L P F & S Inc. Jacksonville, Florida - -------------------------------------------------------------------------------- R None - -------------------------------------------------------------------------------- Advisor Saxon & Co. Philadelphia, Pennsylvania Reliance Trust Company Directed TR Metlife Retirement & Savings Jersey City, New Jersey Charles Schwab & Co., Inc. San Francisco, California - -------------------------------------------------------------------------------- Strategic Allocation: Moderate - -------------------------------------------------------------------------------- Investor JPMorgan Chase Bank Trustee Collins & Aikman Personal Savings Plan Kansas City, Missouri - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Strategic Allocation: Moderate - -------------------------------------------------------------------------------- Institutional State Street Corp Trustee FBO Hallmark Cards Inc Westwood, Massachusetts JPMorgan Chase Bank Trustee FBO Clarian Health Partners Defined Contribution Plan Kansas City, Missouri Chase Manhattan Bank Trustee The BOC Group Inc. Savings Investment Plan Trust New York, New York JPMorgan Chase Bank Trustee Pennzoil Quaker State Co. Savings and Investment Plan Kansas City, Missouri - -------------------------------------------------------------------------------- A Charles Schwab & Co., Inc. San Francisco, California - -------------------------------------------------------------------------------- B M L P F & S Inc. Jacksonville, Florida - -------------------------------------------------------------------------------- C M L P F & S Inc. Jacksonville, Florida - -------------------------------------------------------------------------------- R MG Trust Co Cust FBO Craft Turf Farms Ret Pl Denver, Colorado MG Trust Cust FBO Natren Inc 401k Profit Sharing Plan Denver, Colorado MG Trust Company Cust FBO Russell Newman 401k Denver, Colorado DWS Trust Company TTEE FBO Harbor One Credit Union 401k Plan Salem, New Hampshire A S T Trust Company Trustee FBO Texas Retina Assoc Retirement Plan Phoenix, Arizona - -------------------------------------------------------------------------------- Advisor Saxon and Co. Philadelphia, Pennsylvania Reliance Trust Company Directed TR Metlife Retirement & Savings Jersey City, New Jersey Charles Schwab & Co., Inc. San Francisco, California - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Strategic Allocation: Aggressive - -------------------------------------------------------------------------------- Investor Charles Schwab & Co., Inc. San Francisco, California Union Bank TR Nominee FBO Select Benefit Omnibus San Diego, California - -------------------------------------------------------------------------------- Institutional State Street Corp Trustee FBO Hallmark Cards Inc Westwood, Massachusetts The Chase Manhattan Bank NA TR Huntsman Corp. Salary Deferral Plan & Trust New York, New York JPMorgan Chase & Co TR Marconi USA Wealth Accumulation Plan Trust New York, New York JPMorgan Chase Bank Trustee St. Jude Medical Inc. PS Employee Savings Plan and Trust Kansas City, Missouri Trustlynx & Co Denver, Colorado JPMorgan Chase Bank Trustee Sypris Retirement Savings Plan Kansas City, Missouri Chase Manhattan Bank Trustee The BOC Group Inc. Savings Investment Plan Trust New York, New York - -------------------------------------------------------------------------------- A Charles Schwab & Co., Inc. San Francisco, California - -------------------------------------------------------------------------------- B M L P F & S Inc. Jacksonville, Florida - -------------------------------------------------------------------------------- C M L P F & S Inc. Jacksonville, Florida - -------------------------------------------------------------------------------- R None - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Strategic Allocation: Aggressive - -------------------------------------------------------------------------------- Advisor Saxon and Co. Philadelphia, Pennsylvania Reliance Trust Company Directed TR Metlife Retirement & Savings Jersey City, New Jersey Charles Schwab & Co., Inc. San Francisco, California - -------------------------------------------------------------------------------- Newton - -------------------------------------------------------------------------------- Investor American Century Investment Management, Inc. Kansas City, Missouri James E. Stowers III TR Shawnee Mission, Kansas - -------------------------------------------------------------------------------- Harold S. Bradley and Kathryn Andrasik-Bradley Leawood, Kansas - -------------------------------------------------------------------------------- AMERICAN CENTURY VARIABLE PORTFOLIOS, INC. PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- VP Balanced - -------------------------------------------------------------------------------- Class I Nationwide Insurance Company Columbus, OH Symetra Financial Services Redmond, WA Lincoln National Life Insurance Fort Wayne, IN Lincoln Life & Annuity Company of New York Fort Wayne, IN - -------------------------------------------------------------------------------- VP Capital Appreciation - -------------------------------------------------------------------------------- Class I Mutual of America New York, NY - -------------------------------------------------------------------------------- Nationwide Insurance Company Columbus, OH - -------------------------------------------------------------------------------- VP Income & Growth - -------------------------------------------------------------------------------- Class I Nationwide Insurance Company Columbus, OH CM Life Insurance Company Springfield, MA Massachusetts Mutual Life Insurance Co. Springfield, MA - -------------------------------------------------------------------------------- Class II Nationwide Insurance Company Columbus, OH Minnesota Mutual Life Saint Paul, MN - -------------------------------------------------------------------------------- Class III Nationwide Insurance Company Columbus, OH - -------------------------------------------------------------------------------- VP International - -------------------------------------------------------------------------------- Class I Nationwide Insurance Company Columbus, OH IDS Life Insurance Company Minneapolis, MN M L P F & S Jacksonville, FL - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- VP International - -------------------------------------------------------------------------------- Class II IDS Life Insurance Company Minneapolis, MN Midland National Life Insurance Company Des Moines, IA - -------------------------------------------------------------------------------- Class III Nationwide Insurance Company Columbus, OH - -------------------------------------------------------------------------------- Class IV Nationwide Insurance Company Columbus, OH - -------------------------------------------------------------------------------- VP Large Company Value - -------------------------------------------------------------------------------- Class I Annuity Investor Life Insurance Company Cincinnati, OH - -------------------------------------------------------------------------------- Class II Symetra Financial Services Redmond, WA - -------------------------------------------------------------------------------- Midland National Life Insurance Company Des Moines, IA - -------------------------------------------------------------------------------- Annuity Investor Life Insurance Company Cincinnati, OH - -------------------------------------------------------------------------------- VP Mid Cap Value - -------------------------------------------------------------------------------- Class I Annuity Investor Life Insurance Company Cincinnati, OH - -------------------------------------------------------------------------------- Nationwide Insurance Company Columbus, OH - -------------------------------------------------------------------------------- Class II American Century Investment Management, Inc. Kansas City, MO - -------------------------------------------------------------------------------- Nationwide Insurance Company Columbus, OH - -------------------------------------------------------------------------------- VP Ultra - -------------------------------------------------------------------------------- Class I Nationwide Insurance Company Columbus, OH M L P F & S Jacksonville, FL First Variable Life Insurance Company Des Moines, IA Principal Life Insurance Company Des Moines, IA Travelers Insurance Company Hartford, CT - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- VP Ultra - -------------------------------------------------------------------------------- Class II Minnesota Mutual Life Saint Paul, MN IDS Life Insurance Company Minneapolis, MN American Enterprise Life Minneapolis, MN Principal Life Insurance Company Des Moines, IA Nationwide Insurance Company Columbus, OH Security Benefit Life FBO SBL Advance Designs Topeka, KS - -------------------------------------------------------------------------------- Class III Nationwide Insurance Company Columbus, OH - -------------------------------------------------------------------------------- VP Value - -------------------------------------------------------------------------------- Class I IDS Life Insurance Company Minneapolis, MN Nationwide Insurance Company Columbus, OH Massachusetts Mutual Life Insurance Co. Springfield, MA CM Life Insurance Company Springfield, MA - -------------------------------------------------------------------------------- Class II IDS Life Insurance Company Minneapolis, MN Nationwide Insurance Company Columbus, OH Principal Life Insurance Company Des Moines, IA - -------------------------------------------------------------------------------- Class III Nationwide Insurance Company. Columbus, OH - -------------------------------------------------------------------------------- VP Vista - -------------------------------------------------------------------------------- Class I National Life of Vermont Montpelier, VT Farm Bureau Life Insurance Company West Des Moines, IA Modern Woodmen of America West Des Moines, IA Annuity Investor Life Insurance Company Cincinnati, OH - -------------------------------------------------------------------------------- Class II Nationwide Insurance Company Columbus, OH - -------------------------------------------------------------------------------- AMERICAN CENTURY WORLD MUTUAL FUNDS, INC. PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Emerging Markets - -------------------------------------------------------------------------------- Investor None - -------------------------------------------------------------------------------- Institutional Bost & Co Eastman Kodak Employee Savings and Investment Plan Pittsburgh, PA 1999 Irrevocable US Annuity & Gif c/o Henry Fett St. Louis, MO Trustees of American Century P/S & 401(k) Savings Plan & Trust Kansas City, MO - -------------------------------------------------------------------------------- C MG Trust Company Trustee FBO Calhoun Dental Ltd Denver, CO - -------------------------------------------------------------------------------- Advisor Charles Schwab & Co., Inc. San Francisco, CA National Financial Services LLC New York, NY - -------------------------------------------------------------------------------- Global Growth - -------------------------------------------------------------------------------- Investor Charles Schwab & Co., Inc. San Francisco, CA - -------------------------------------------------------------------------------- Institutional Trustees of American Century P/S & 401(k) Savings Plan & Trust Kansas City, MO UMB TR American Century Executive Def Comp Plan Trust Kansas City, MO - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Global Growth - -------------------------------------------------------------------------------- A Charles Schwab & Co., Inc. San Francisco, CA - -------------------------------------------------------------------------------- B Pershing LLC Jersey City, NJ American Enterprise Investment Svcs Minneapolis, MN American Enterprise Investment Svcs Minneapolis, MN American Enterprise Investment Svcs Minneapolis, MN American Enterprise Investment Svcs Minneapolis, MN - -------------------------------------------------------------------------------- C Pershing LLC Jersey City, NJ First Clearing LLC Judith Francis Hudson IRA Account Glen Allen, VA UBS Financial Services Inc. FBO Jean Smith LLC Washington, DC - -------------------------------------------------------------------------------- R American Century Investment Management, Inc. Kansas City, MO - -------------------------------------------------------------------------------- Advisor Charles Schwab & Co., Inc. San Francisco, CA Union Bank Trust Nominee FBO Select Benefit Omnibus San Diego, CA Morris & Co. South Bend, IN National Financial Services LLC New York, NY - -------------------------------------------------------------------------------- International Discovery - -------------------------------------------------------------------------------- Investor Charles Schwab & Co., Inc. San Francisco, CA - -------------------------------------------------------------------------------- Institutional Trustees of American Century P/S & 401(k) Savings Plan & Trust Kansas City, MO Balsa & Co Dallas, TX JPMorgan Chase TR Ericsson Capital Accumulation and Savings Plan Kansas City, MO Charles Schwab & Co., Inc. San Francisco, CA Aspirus Wausau Hospital Inc. Wausau, WI - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- International Discovery - -------------------------------------------------------------------------------- Advisor FISERV ISS & Co FBO Arthur C. Anderson Denver, CO FISERV ISS & Co TTEE FBO Jill R Eaton Denver, CO - -------------------------------------------------------------------------------- International Growth - -------------------------------------------------------------------------------- Investor Charles Schwab & Co., Inc. San Francisco, CA - -------------------------------------------------------------------------------- Institutional The Chase Manhattan Bank NA TR Huntsman Corp Salary Deferral Plan & Trust New York, NY State Street Bank & Trust TR Lowes 401K Plan Westwood, MA Trustees of American Century P/S & 401K Savings Plan & Trust Kansas City, MO A.G. Investments Co., L.P. Wilmington, DE Charles Schwab & Co., Inc. San Francisco, CA Chase Manhattan Bank NA TR Huntsman Corp MPP Plan & Trust New York, NY - -------------------------------------------------------------------------------- A Charles Schwab & Co., Inc. San Francisco, CA - -------------------------------------------------------------------------------- B MLPF&S Inc. Jacksonville, FL - -------------------------------------------------------------------------------- C MLPF&S Inc. Jacksonville, FL - -------------------------------------------------------------------------------- R Symetra Investment Services Seattle, WA ING Life Insurance and Annuity Co Hartford, CT MLPF&S Inc. Jacksonville, FL - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- International Growth - -------------------------------------------------------------------------------- Advisor State Street Bank FBO ADP Daily Val North Quincy, MA Nationwide Insurance Company QPVA Columbus, OH Nationwide Trust Company FSB Columbus, OH - -------------------------------------------------------------------------------- International Opportunities - -------------------------------------------------------------------------------- Investor Charles Schwab & Co., Inc. San Francisco, CA - -------------------------------------------------------------------------------- Institutional American Century Investment Management, Inc. Kansas City, MO - -------------------------------------------------------------------------------- International Stock - -------------------------------------------------------------------------------- Investor None - -------------------------------------------------------------------------------- International Value - -------------------------------------------------------------------------------- Investor American Century Investment Management, Inc. Kansas City, MO E* Trade Clearing LLC IRA Cust W Sacramento, CA E* Trade Clearing LLC IRA Cust W Sacramento, CA E* Trade Clearing LLC IRA Cust W Sacramento, CA - -------------------------------------------------------------------------------- Institutional Northwestern Mutual Life Milwaukee, WI - -------------------------------------------------------------------------------- A None - -------------------------------------------------------------------------------- B None - -------------------------------------------------------------------------------- C American Century Investment Management, Inc. Kansas City, Missouri - -------------------------------------------------------------------------------- R American Century Investment Management, Inc. Kansas City, MO - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Life Sciences - -------------------------------------------------------------------------------- Investor Charles Schwab & Co., Inc. San Francisco, CA - -------------------------------------------------------------------------------- Institutional Trustees of American Century P/S & 401K Savings Plan & Trust Kansas City, MO UMB TR American Century Executive Def Comp Plan Trust Kansas City, MO - -------------------------------------------------------------------------------- C American Century Investment Management, Inc. Kansas City, MO Citigroup Global Markets Inc. New York, NY American Enterprise Investment Svcs Minneapolis, MN - -------------------------------------------------------------------------------- Advisor MG Trust Company Cust FBO Scott S Liquid-Gold Inc 401(K) Plan Denver, CO MG Trust Company Cust FBO KCG Communications 401(K) Plan Denver, CO AG Edwards & Sons C/F Edward Hlipala Sr Decd FBO Edward Hlipala Jr Waterford, CT Nationwide Trust Company FSB Columbus, OH Frontier Trust Company TTEE FBO Browne Blebotte Wilson & Horn PLLC 401K Plan Fargo, ND Symetra Investment Services Seattle, WA UMBSC & CO FBO Ronald Kufahl IRA Kansas City, MO National Financial Services LLC New York, NY Pershing LLC Jersey City, NJ - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- NT Emerging Markets - -------------------------------------------------------------------------------- Institutional American Century Serv Port LIVESTRONG 2025 Portfolio NT Emerging Markets Omnibus Kansas City, MO American Century Serv Corp LIVESTRONG 2035 Portfolio NT Emerging Markets Omnibus Kansas City, MO American Century Serv Corp LIVESTRONG 2045 Portfolio NT Emerging Markets Omnibus Kansas City, MO American Century Serv Corp LIVESTRONG 2015 Portfolio NT Emerging Markets Omnibus Kansas City, MO - -------------------------------------------------------------------------------- NT International Growth - -------------------------------------------------------------------------------- Institutional American Century Serv Port LIVESTRONG 2025 Portfolio NT International Growth Omnibus Kansas City, MO American Century Serv Corp LIVESTRONG 2015 Portfolio NT International Growth Omnibus Kansas City, MO American Century Serv Corp LIVESTRONG 2035 Portfolio NT International Growth Omnibus Kansas City, MO American Century Serv Corp LIVESTRONG 2045 Portfolio NT International Growth Omnibus Kansas City, MO American Century Serv Corp LIVESTRONG Income Portfolio NT International Growth Omnibus Kansas City, MO - -------------------------------------------------------------------------------- Technology - -------------------------------------------------------------------------------- Investor Charles Schwab & Co., Inc. San Francisco, CA - -------------------------------------------------------------------------------- PERCENTAGE OF PERCENTAGE OF OUTSTANDING OUTSTANDING FUND/ SHARES OWNED SHARES OWNED CLASS SHAREHOLDER OF RECORD BENEFICIALLY(1) - -------------------------------------------------------------------------------- Technology - -------------------------------------------------------------------------------- Institutional Trustees of American Century P/S & 401K Savings Plan & Trust Kansas City, MO UMB TR American Century Executive Def Comp Plan Trust Kansas City, MO - -------------------------------------------------------------------------------- Advisor MG Trust Cust FBO Gibbs M. Smith Inc. 401k P/S Plan Denver, CO MG Trust Company Cust FBO Carmel Architectural Sales 401K P Denver, CO Pershing LLC Jersey City, NJ MG Trust Cust FBO Cincinnati Fastener Co 401k Plan Denver, CO National Financial Services LLC New York, NY - -------------------------------------------------------------------------------- (1) IF SHARES ARE REGISTERED IN AN INDIVIDUAL'S NAME OR IN THE NAME OF AN INTERMEDIARY FOR THE BENEFIT OF A NAMED PARTY, WE REPORT THESE SHARES AS BEING BENEFICIALLY OWNED. OTHERWISE, AMERICAN CENTURY HAS NO INFORMATION CONCERNING BENEFICIAL OWNERSHIP OF FUND SHARES. EXHIBIT C CURRENT AND PRO FORMA ADVISORY FEES SHAREHOLDER FEES (fees paid directly from your investment) Advisor Pro Forma Class Advisor Class ------------------------------------------------------- Maximum Sales Charge (Load) None None(1) Imposed on Purchases (as a percentage of offering price) - ------------------------------------------------------- Maximum Deferred None None(2) Sales Charge (Load) (as a percentage of the lower of the original offering price or redemption proceeds) - ------------------------------------------------------- Redemption/Exchange Fee None None (as a percentage of amount redeemed/exchanged) - ------------------------------------------------------- Maximum Account None None Maintenance Fee ------------------------------------------------------- (1) It is anticipated that this class would be subject to a front-end sales charge, but it will not apply to shares purchased in the same accounts. (2) Investments of $1 million or more may be subject to a contingent deferred sales charge of 1.00% if the shares are redeemed within one year of the date of purchase. ANNUAL FUND OPERATING EXPENSES (expenses that are deducted from fund assets) - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ TOTAL DISTRIBUTION AND ANNUAL FUND MANAGEMENT SERVICE (12B-1) OTHER OPERATING ISSUER FUND CLASS FEE FEES EXPENSES EXPENSES - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ ACCP Equity Income Advisor Class 0.73%(1) 0.50%(2) 0.00%(3) 1.23% - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Pro Forma 0.98%(1) 0.25%(4) 0.00%(3) 1.23% Advisor Class - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Large Company Advisor Class 0.59%(1) 0.50%(2) 0.00%(3) 1.09% Value - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Pro Forma 0.84%(1) 0.25%(4) 0.00%(3) 1.09% Advisor Class - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Mid Cap Value Advisor Class 0.75%(5) 0.50%(2) 0.00%(3) 1.25% - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Pro Forma 1.00%(5) 0.25%(4) 0.00%(3) 1.25% Advisor Class - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Real Estate Advisor Class 0.90%(1) 0.50%(2) 0.00%(3) 1.40% - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Pro Forma 1.15%(1) 0.25%(4) 0.00%(3) 1.40% Advisor Class - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Small Cap Value Advisor Class 1.00%(1) 0.50%(2) 0.00%(3) 1.50% - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Pro Forma 1.25%(1) 0.25%(4) 0.00%(3) 1.50% Advisor Class - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Value Advisor Class 0.74%(1) 0.50%(2) 0.00%(3) 1.24% - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Pro Forma 0.99%(1) 0.25%(4) 0.00%(3) 1.24% Advisor Class - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ ACGF Legacy Large Cap Advisor Class 0.85%(1) 0.50%(2) 0.00%(3) 1.35% - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Pro Forma 1.10%(1) 0.25%(4) 0.00%(3) 1.35% Advisor Class - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Legacy Focused Advisor Class 0.85%(1) 0.50%(2) 0.00%(3) 1.35% Large Cap - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Pro Forma 1.10%(1) 0.25%(4) 0.00%(3) 1.35% Advisor Class - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Legacy Multi Cap Advisor Class 0.90%(1) 0.50%(2) 0.00%(3) 1.40% - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Pro Forma 1.15%(1) 0.25%(4) 0.00%(3) 1.40% Advisor Class - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ ACMF Balanced Advisor Class 0.65%(1) 0.50%(2) 0.00%(3) 1.15% - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Pro Forma 0.90%(1) 0.25%(4) 0.00%(3) 1.15% Advisor Class - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Capital Value Advisor Class 0.85%(1) 0.50%(2) 0.00%(6) 1.35% - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Pro Forma 1.10%(1) 0.25%(4) 0.00%(6) 1.35% Advisor Class - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Growth Advisor Class 0.75%(1) 0.50%(2) 0.00%(3) 1.25% - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Pro Forma 1.00%(1) 0.25%(4) 0.00%(3) 1.25% Advisor Class - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Heritage Advisor Class 0.75%(5) 0.50%(2) 0.00%(3) 1.25% - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Pro Forma 1.00%(1) 0.25%(4) 0.00%(3) 1.25% Advisor Class - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Select Advisor Class 0.75%(1) 0.50%(2) 0.00%(3) 1.25% - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Pro Forma 1.00%(1) 0.25%(4) 0.00%(3) 1.25% Advisor Class - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Ultra Advisor Class 0.74%(1) 0.50%(2) 0.00%(6) 1.24% - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Pro Forma 0.99%(1) 0.25%(4) 0.00%(3) 1.24% Advisor Class - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Vista Advisor Class 0.75%(5) 0.50%(2) 0.00%(3) 1.25% - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Pro Forma 1.00%(1) 0.25%(4) 0.00%(3) 1.25% Advisor Class - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ ACSAA Strategic Advisor Class 0.74%(1) 0.50%(2) 0.00%(6) 1.24% Allocation: Conservative - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Pro Forma 0.99%(1) 0.25%(4) 0.00%(6) 1.24% Advisor Class - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Strategic Advisor Class 0.80%(1) 0.50%(2) 0.00%(5) 1.30% Allocation: Moderate - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Pro Forma 1.05%(1) 0.25%(4) 0.00%(5) 1.30% Advisor Class - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Strategic Advisor Class 0.93%(1) 0.50%(2) 0.00%(6) 1.43% Allocation: Aggressive - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Pro Forma 1.18%(1) 0.25%(4) 0.00%(6) 1.43% Advisor Class - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ ACWMF Emerging Markets Advisor Class 1.54%(1) 0.50%(2) 0.01%(7) 2.05% - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Pro Forma 1.79%(1) 0.25%(4) 0.01%(7) 2.05% Advisor Class - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Global Growth Advisor Class 1.05%(1) 0.50%(2) 0.01%(7) 1.56% - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Pro Forma 1.30%(1) 0.25%(4) 0.01%(7) 1.56% Advisor Class - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ International Advisor Class 1.15%(1) 0.50%(2) 0.01%(8) 1.66% Discovery - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Pro Forma 1.40%(1) 0.25%(4) 0.01%(8) 1.66% Advisor Class - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ International Advisor Class 1.00%(1) 0.50%(2) 0.01%(8) 1.51% Growth - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Pro Forma 1.25%(1) 0.25%(4) 0.01%(7) 1.51% Advisor Class - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Life Sciences Advisor Class 1.10%(9) 0.50%(2) 0.01%(7) 1.61% - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Pro Forma 1.35%(9) 0.25%(4) 0.01%(7) 1.61% Advisor Class - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Technology Advisor Class 1.25%(1) 0.50%(2) 0.01%(8) 1.76% - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ Pro Forma 1.50%(1) 0.25%(4) 0.01%(8) 1.76% Advisor Class - ------------ ---------------- --------------- -------------- ---------------- ------------- ------------ (1) THE FUND PAYS THE ADVISOR A SINGLE, UNIFIED MANAGEMENT FEE FOR ARRANGING ALL SERVICES NECESSARY FOR THE FUND TO OPERATE. THE FEE SHOWN IS BASED ON ASSETS DURING THE FUND'S MOST RECENT FISCAL YEAR. THE FUND HAS A STEPPED FEE SCHEDULE. AS A RESULT, THE FUND'S UNIFIED MANAGEMENT FEE RATE GENERALLY DECREASES AS STRATEGY ASSETS INCREASE AND INCREASES AS STRATEGY ASSETS DECREASE. (2) THE 12B-1 FEE IS DESIGNED TO PERMIT INVESTORS TO PURCHASE SHARES THROUGH BROKER-DEALERS, BANKS, INSURANCE COMPANIES AND OTHER FINANCIAL INTERMEDIARIES. THE FEE MAY BE USED TO COMPENSATE SUCH FINANCIAL INTERMEDIARIES FOR DISTRIBUTION AND OTHER SHAREHOLDER SERVICES. IN ADDITION, HALF OF THE ADVISOR CLASS 12B-1 FEE (0.25%) IS FOR ONGOING RECORDKEEPING AND ADMINISTRATIVE SERVICES PROVIDED BY FINANCIAL INTERMEDIARIES, WHICH WOULD OTHERWISE BE PAID BY THE ADVISOR OUT OF THE UNIFIED MANAGEMENT FEE. THE ADVISOR HAS REDUCED ITS UNIFIED MANAGEMENT FEE BY 0.25% FOR ADVISOR CLASS SHARES, BUT THE FEE FOR CORE INVESTMENT ADVISORY SERVICES IS THE SAME FOR ALL CLASSES. (3) OTHER EXPENSES, WHICH INCLUDE THE FEES AND EXPENSES OF THE FUND'S INDEPENDENT DIRECTORS AND THEIR LEGAL COUNSEL, AS WELL AS INTEREST, WERE LESS THAN 0.005% FOR THE MOST RECENT FISCAL YEAR. (4) THE 12B-1 FEE IS DESIGNED TO PERMIT INVESTORS TO PURCHASE SHARES THROUGH BROKER-DEALERS, BANKS, INSURANCE COMPANIES AND OTHER FINANCIAL INTERMEDIARIES. THE FEE MAY BE USED TO COMPENSATE SUCH FINANCIAL INTERMEDIARIES FOR DISTRIBUTION AND OTHER SHAREHOLDER SERVICES. (5) THE FUND PAYS THE ADVISOR A SINGLE, UNIFIED MANAGEMENT FEE FOR ARRANGING ALL SERVICES NECESSARY FOR THE FUND TO OPERATE. (6) OTHER EXPENSES, WHICH INCLUDE THE FEES AND EXPENSES OF THE FUND'S INDEPENDENT DIRECTORS AND THEIR LEGAL COUNSEL, INTEREST, AND FEES AND EXPENSES INCURRED INDIRECTLY BY THE FUND AS A RESULT OF INVESTMENT IN SHARES OF ONE OR MORE MUTUAL FUNDS, HEDGE FUNDS, PRIVATE EQUITY FUNDS OR OTHER POOLED INVESTMENT VEHICLES, WERE LESS THAN 0.005% FOR THE MOST RECENT FISCAL YEAR. (7) OTHER EXPENSES INCLUDE THE FEES AND EXPENSES OF THE FUND'S INDEPENDENT DIRECTORS AND THEIR LEGAL COUNSEL, AS WELL AS INTEREST. OTHER EXPENSES ALSO INCLUDE FEES AND EXPENSES INCURRED INDIRECTLY BY THE FUND AS A RESULT OF INVESTMENT IN SHARES OF ONE OR MORE MUTUAL FUNDS, HEDGE FUNDS, PRIVATE EQUITY FUNDS OR OTHER POOLED INVESTMENT VEHICLES. (8) OTHER EXPENSES INCLUDE THE FEES AND EXPENSES OF THE FUND'S INDEPENDENT TRUSTEES AND ITS LEGAL COUNSEL, AS WELL AS INTEREST. (9) THE EXPENSE INFORMATION REFLECTS THE CURRENT MANAGEMENT FEE AMOUNT, WHICH WAS REDUCED EFFECTIVE AUGUST 1, 2006. EXHIBIT D INVESTMENT SUBADVISORY AGREEMENT THIS INVESTMENT SUBADVISORY AGREEMENT ("Agreement") is made as of the 1st day of August, 2007, by and among AMERICAN CENTURY INVESTMENT MANAGEMENT, INC. ("ACIM"), a Delaware corporation, and NORTHERN TRUST INVESTMENTS, N.A. (the "Subadvisor"), an Illinois corporation. WITNESSETH: WHEREAS, ACIM is the investment advisor to the funds listed on Exhibit A hereto (each a "Fund" and collectively the "Funds"), each of which is a series of shares of American Century Capital Portfolios, Inc. ("ACCP") and is an open-end management investment company registered with the Securities and Exchange Commission under the Investment Company Act of 1940, as amended (the "Investment Company Act"); and WHEREAS, ACIM and the Subadvisor are both investment advisors registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940, as amended; and WHEREAS, ACCP has engaged ACIM to serve as the investment manager for the Funds pursuant to a Management Agreement dated August 1, 2006; and WHEREAS, ACIM desires to engage the Subadvisor as a subadvisor for the Funds, and the Subadvisor desires to accept such engagement; and WHEREAS, the Boards of Directors of ACIM and the Subadvisor have determined that it is advisable to enter into this Agreement. NOW, THEREFORE, in consideration of the premises and of the covenants and agreements hereinafter set forth, and intending to be legally bound hereby, the parties hereto covenant and agree as follows: 1. INVESTMENT DESCRIPTION - APPOINTMENT. ACIM hereby appoints the Subadvisor to provide the advisory services described herein to the Funds in accordance with each Fund's Prospectus and Statement of Additional Information as in effect and as amended from time to time, subject to the oversight and direction of each Fund's Board of Directors and ACIM. ACIM will promptly provide the Subadvisor copies of all amendments to each Fund's Prospectus and Statement of Additional Information on an ongoing basis. In consideration for the compensation set forth below, the Subadvisor accepts the appointment and agrees to furnish the services described herein. 2. SERVICES AS INVESTMENT SUBADVISOR. (a) Subject to the general supervision of each Fund's Board of Directors and of ACIM, the Subadvisor will (i) act in conformity with each Fund's Prospectus and Statement of Additional Information, the Investment Company Act, the Investment Advisers Act of 1940 (the "Investment Advisers Act"), the Internal Revenue Code (the "Code") and all other applicable federal and state laws and regulations, as the same may from time to time be amended; (ii) make investment decisions for each Fund in accordance with such Fund's investment objective and policies as stated in such Fund's Prospectus and Statement of Additional Information and with such written guidelines as ACIM may from time to time provide to the Subadvisor; (iii) place purchase and sale orders on behalf of the Funds; (iv) maintain books and records with respect to the securities transactions of each Fund; and (v) furnish the Funds' Board of Directors such periodic, regular and special reports with respect to the Funds and its services hereunder as the Board may reasonably request or as may be required by applicable law or regulation. (b) In providing those services, the Subadvisor will supervise the Fund's investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of the Funds' assets. In addition, the Subadvisor will furnish ACCP or ACIM whatever information, including statistical data, ACCP or ACIM may reasonably request with respect to the instruments that any Fund may hold or contemplate purchasing. (c) The Subadvisor will at all times comply with the policies adopted by the Funds' Board of Directors of which it has received written notice. Any change to any such policies shall be approved by the Funds' Board of Directors prior to the implementation of such change, and Subadvisor will be given reasonable notice of the anticipated change. (d) All cash, securities and other assets of the Funds shall be held at all times by such entity or entities engaged by ACCP to be the custodian (collectively, the "CUSTODIAN") in compliance with Section 17(f) of the Investment Company Act. The Subadvisor shall not be responsible for any custody arrangements involving any assets of the Funds or for the payment of any custodial charges or fees, nor shall the Subadvisor have possession or custody of any such assets. All payments, distributions and other transactions in cash, securities or other assets in respect of the Funds shall be made directly to or from the custodian. ACIM shall provide, or shall direct the custodian to provide, to the Subadvisor from time to time such reports concerning assets, receipts and disbursements with respect to the Funds as the Subadvisor may request, including daily information on cash balances available for investment, Fund redemption activity and market value of the securities held by the Funds. (e) ACIM acknowledges and agrees that the Subadvisor is not the Funds' pricing agent, and is not responsible for pricing the securities held by any Fund, however the Subadvisor will provide reasonable assistance to the Funds' pricing agents in valuing securities held by each Fund for which market quotations are not readily available. 2 (f) The Subadvisor makes no representations or warranties, express or implied, that any level of performance or investment results will be achieved by the Funds or that the Funds will perform comparably with any standard, including any other clients of the Subadvisor or index. (g) The Subadvisor will not consult with any other subadvisors of the Funds or other subadvisors to a series under common control with any Fund concerning transactions of the Funds in securities or other assets. (h) The Subadvisor will not advise or act for the Funds in any legal proceedings, including bankruptcies or class actions, involving securities held in the Funds or issues of those securities, unless otherwise agreed. 3. BROKERAGE. (a) In executing transactions for the Funds and selecting brokers or dealers, the Subadvisor will seek to obtain the best price and execution available and shall execute or direct the execution of all such transactions as permitted by law and in a manner that is consistent with its fiduciary obligations to the Funds and its other clients. In assessing the best price and execution available for any Fund transaction, the Subadvisor will consider all factors it deems relevant including, but not limited to, breadth of the market in the security, the price of the security, the financial condition and execution capability of the broker or dealer and the reasonableness of any commission for the specific transaction and on a continuing basis. Consistent with this obligation, when the execution and price offered by two or more brokers or dealers are comparable, the Subadvisor may, at its discretion, execute transactions with brokers and dealers who provide the Funds and/or other accounts over which the Subadvisor exercises investment discretion with research advice and other services, but in all instances best price and execution shall control. The Subadvisor is authorized to place purchase and sale orders for the Funds with brokers and/or dealers subject to the supervision of ACIM and the Board of Directors of the Funds and in accordance with the limitations set forth in the registration statement for the Fund shares then in effect. (b) On occasions when the Subadvisor deems the purchase or sale of a security to be in the best interest of a Fund as well as one or more of its other clients, the Subadvisor may to the extent permitted by applicable law, but shall not be obligated to, aggregate the securities to be sold or purchased with those of its other clients. In such event, allocation of the securities so purchased or sold will be made by the Subadvisor in a manner it considers to be equitable and consistent with its fiduciary obligations to ACCP and to such other clients. ACIM recognizes that, in some cases, this procedure may limit the size of the position that may be acquired or sold for a Fund. 3 4. INFORMATION PROVIDED TO ACCP. (a) The Subadvisor will keep ACCP and ACIM informed of developments materially affecting the Funds and will take initiative to furnish ACCP and ACIM on at least a quarterly basis with whatever information the Subadvisor and ACIM believe is appropriate for this purpose. Such regular quarterly reports shall include information reasonably requested by the Funds' Board of Directors from time to time. (b) The Subadvisor will provide ACCP and ACIM with such investment records, ledgers, accounting and statistical data, and other information as ACCP and ACIM reasonably request for the preparation of registration statements, periodic and other reports and other documents required by federal and state laws and regulations, and particularly as may be required for the periodic review, renewal, amendment or termination of this Agreement, and such additional documents and information as ACCP and ACIM may reasonably request for the management of their affairs. The Subadvisor understands that the Funds and ACIM will rely on such information in the preparation of the Funds' registration statements, the Funds' financial statements, and any such reports, and hereby covenants that any such information derived from the investment records, ledgers and accounting records maintained by the Subadvisor shall be true and complete in all material respects. (c) At the request of the Board of Directors, a representative of the Subadvisor shall attend meetings of the Board of Directors to make a presentation on each Fund's performance and such other matters as the Board of Directors, the Subadvisor and ACIM believe is appropriate. (d) The Subadvisor shall furnish to regulatory authorities any information or reports in connection with such services as may be lawfully requested, provided, however, that the Subadvisor shall not otherwise be responsible for the preparation and filing of any other reports or statements (including, without limitation, any tax returns or financial statements) required of the Funds by any governmental or regulatory agency, except as expressly agreed to in writing. The Subadvisor shall also, at ACCP's request, certify to ACCP's independent auditors that sales or purchases aggregated with those of other clients of the Subadvisor, as described in Section 3 above, were allocated in a manner it considers to be equitable. (e) In compliance with the requirements of the Investment Company Act, the Subadvisor hereby agrees that all records that it maintains for the Funds are the property of ACCP and further agrees to surrender to ACCP promptly upon ACCP's written request any of such records. In addition, the Subadvisor agrees to cooperate with ACCP and ACIM when either of them is being examined by any regulatory authorities, and specifically agrees to promptly comply with any request by such authorities to provide information or records. The Subadvisor further agrees to preserve for the periods of time prescribed by the Investment Company Act and the Investment Advisers Act the records it maintains in accordance with Section 2(a)(iv). 4 (f) ACIM will vote each Fund's investment securities in accordance with its proxy voting policy and procedures. The Subadvisor shall not be responsible for any such voting. (g) In connection with the purchase and sale of securities of the Fund, the Subadvisor shall arrange for the transmission to ACIM and the custodian for the Fund on a daily basis such confirmation, trade tickets and other documents as may be reasonably necessary to enable them to perform their administrative responsibilities with respect to the Fund's investment portfolio. With respect to portfolio securities to be purchased or sold through the Depository Trust Company, the Subadvisor shall arrange for the automatic transmission of the I.D. confirmation of the trade to the custodian of the Fund. The Subadvisor will be responsible for providing portfolio trades to the Fund's accounting agent for inclusion in the daily calculation of the Fund's NAV in a manner, and in accordance with such time requirements as ACIM and the Subadvisor shall agree on. In the event trade data is not delivered by the Subadvisor in accordance with such requirements and the Subadvisor's failure causes an error that is material to the Fund, the subadvisor shall reimburse the Fund pursuant to ACIM's NAV Error Policy. 5. CONFIDENTIALITY. The parties to this Agreement agree that each shall treat as confidential in accordance with its policies and procedures to protect similar confidential information, and with applicable law, all information provided by a party to the others regarding such party's business and operations, including without limitation the investment activities, holdings, or identities of shareholders of the Funds. All confidential information provided by a party hereto shall be used by any other parties hereto solely for the purposes of rendering services pursuant to this Agreement and, except as may be required in carrying out the terms of this Agreement, shall not be disclosed to any third party without the prior consent of such providing party. The foregoing shall not be applicable to any information that is publicly available when provided or which thereafter becomes publicly available other than in contravention of this paragraph. The foregoing also shall not apply to any information which is required to be disclosed by any regulatory authority in the lawful and appropriate exercise of its jurisdiction over a party, by any auditor of the parties hereto, by judicial or administrative process or otherwise by applicable law or regulation; provided, however, that the disclosing party shall provide reasonable notice to the other parties hereto prior to any such disclosure. 6. COMPENSATION. (a) In consideration of the services rendered pursuant to this Agreement, ACIM will pay the Subadvisor a management fee, payable monthly in arrears on the first business day of each month. The fee for the each month shall equal the sum of the product of the "Applicable Fee" for each Fund as set forth on Exhibit A attached hereto, times the net assets of such Fund on that day, and further dividing that product by 365 (366 for leap years), for each calendar day in such month. (b) In the event that the Board of Directors of ACCP shall determine to issue any additional series of shares for which it is proposed that the Subadvisor serve as investment manager, and for which the Subadvisor desires to so serve, ACIM and the Subadvisor shall 5 amend Exhibit A to this Agreement setting forth the name of the series, the Applicable Fee and such other terms and conditions as are applicable to the management of such series of shares. (c) The Subadvisor shall have no right to obtain compensation directly from any Fund or ACCP for services provided hereunder and agrees to look solely to ACIM for payment of fees due. Upon termination of this Agreement before the end of a month, or in the event the Agreement begins after the beginning of the month, the fee for that month shall be prorated according to the proportion that such period bears to the full monthly period and shall be payable upon the date of termination of this Agreement. 7. EXPENSES. ACIM, ACCP, and the Funds shall assume and pay their respective organizational, operational and business expenses not specifically assumed or agreed to be paid by the Subadvisor pursuant to this Agreement. The Subadvisor shall pay its own organizational, operational and business expenses but shall not be obligated to pay any expenses of ACIM, ACCP, and the Funds, including, without limitation: (a) brokerage fees or commissions in connection with the execution of securities transactions, (b) taxes and interest; and (c) custodian fees and expenses. 8. SERVICES TO OTHER COMPANIES OR ACCOUNTS. ACIM understands that the Subadvisor or its affiliates may act as investment advisor to other clients and ACIM has no objection to the Subadvisor so acting. In addition, ACIM understands that the persons employed by the Subadvisor to assist in the performance of the Subadvisor's duties hereunder will not devote their full time to such service and nothing contained herein shall be deemed to limit or restrict the right of the Subadvisor or any affiliate of the Subadvisor to engage in and devote time and attention to other business or to render services of whatever kind or nature. 9. TERM AND TERMINATION OF AGREEMENT. (a) This Agreement shall become effective as of the date first written above and shall continue until July 31, 2009, and shall continue thereafter so long as such continuance is specifically approved at least annually by (i) the Board of Directors of ACCP or (ii) a vote of a majority of the Fund's outstanding voting securities, provided that in either event the continuance is also approved by a majority of the Board of Directors who are not interested persons (as defined in the Investment Company Act) of any party to this Agreement, by a vote cast at a meeting called for the purpose of voting on such approval. The annual approvals provided for herein shall be effective to continue this Agreement from year to year if given within a period beginning not more than ninety (90) days prior to July 31 of each applicable year, notwithstanding the fact that more than three hundred sixty-five (365) days may have elapsed since the date on which such approval was last given. (b) This Agreement is terminable without penalty as to any Fund on 60 days' written notice by (i) the Board of Directors of ACCP, (ii) by vote of holders of a majority of a Fund's shares, (iii) by ACIM, or (iv) by the Subadvisor, and will terminate automatically upon any termination of the investment management agreement between ACCP and ACIM. This 6 Agreement will terminate automatically in the event of its assignment. The Subadvisor agrees to notify ACIM of any circumstances that might result in this Agreement being deemed to be assigned. 10. REPRESENTATIONS. (a) ACIM and the Subadvisor each represents that it is registered as an investment advisor under the Investment Advisers Act, that it will use its reasonable best efforts to maintain such registration, and that it will promptly notify the other if it ceases to be so registered, if its registration is suspended for any reason, or if it is notified by any regulatory organization or court of competent jurisdiction that it should show cause why its registration should not be suspended or terminated. ACIM and the Subadvisor each further represents that it is registered under the laws of all jurisdictions in which the conduct of its business hereunder requires such registration. (b) ACIM represents and warrants that (i) the appointment of the Subadvisor has been duly authorized; (ii) it has full power and authority to execute and deliver this Agreement and to perform the services contemplated hereunder, and such execution, delivery and performance will not cause it to be in violation of its Articles of Incorporation, Bylaws, or any material laws; and (iii) it has received a copy of Part II of the Subadvisor's Form ADV no less than 48 hours prior to entering into this Agreement. (c) The Subadvisor represents and warrants that (i) its service as subadvisor hereunder has been duly authorized; (ii) it has full power and authority to execute and deliver this Agreement and to perform the services contemplated hereunder, and such execution, delivery and performance will not cause it to be in violation of its organizational documents, its Bylaws or material laws; (iii) it will at all times in the performance of its duties hereunder comply in all material respects with the provisions of the Investment Company Act, the Investment Advisers Act, the Code and all other applicable federal and state laws and regulations, as the same may be amended from time to time; and (iv) it has all controls necessary to perform its obligations under and comply with the representations and warranties it made in this Agreement. 11. AMENDMENT OF THIS AGREEMENT. No provision of this Agreement may be changed, waived, discharged or terminated orally, but only by an instrument in writing signed by the party against which enforcement of the change, waiver, discharge or termination is sought. 12. ENTIRE AGREEMENT. This Agreement constitutes the entire agreement between the parties hereto on the subject matter described herein. 13. INDEPENDENT CONTRACTOR. In the performance of its duties hereunder, the Subadvisor is and shall be an independent contractor and, unless otherwise expressly provided or authorized, shall have no authority to act for or represent ACCP or ACIM in any way, or otherwise be deemed to be an agent of ACCP or ACIM. 7 14. SEVERABILITY. If any provision of this Agreement shall be held or made invalid by a court decision, statue, rule or similar authority, the remainder of this Agreement shall not be affected thereby. 15. NOTICES. All notices and other communications hereunder shall be given or made in writing and shall be delivered personally, or sent by telex, telecopy, express delivery or registered or certified mail, postage prepaid, return receipt requested, to the party or parties to whom they are directed at the following addresses, or at such other addresses as may be designated by notice from such party to all other parties. To the Subadvisor: The Northern Trust Company 50 South LaSalle Street, M-9 Chicago, Illinois 60675 Attention: Legal Department To ACIM: American Century Investments 4500 Main Street Kansas City, Missouri 64111 Attention: General Counsel Any notice, demand or other communication given in a manner prescribed in this Section shall be deemed to have been delivered on receipt. 16. DISCLOSURE. ACIM shall not, without the prior written consent of the Subadvisor, make representations regarding or reference the Subadvisor or any affiliates in any disclosure document, advertisement, sales literature or other promotional materials; PROVIDED, HOWEVER, the Subadvisor need not review or consent to any reference to its name only or any language that it has previously approved for use in another document. 17. LIABILITY OF SUBADVISOR. (a) The Subadvisor shall not be liable for any loss due solely to a mistake of investment judgment, but shall be liable for any loss which is incurred by reason of an act or omission of its employee, partner, director or affiliate, if such act or omission involves willful misfeasance, bad faith or gross negligence, or breach of its duties or obligations hereunder, whether express or implied. Nothing in this paragraph shall be deemed a limitation or waiver of any obligation or duty that may not by law be limited or waived. (b) The Subadvisor shall not be liable for any failure, delay or interruption in the performance of its obligations hereunder if such failure, delay or interruption results from the 8 occurrence of any acts, events or circumstances beyond the Subadvisor's reasonable control, and the Subadvisor shall have no responsibility of any kind for any loss or damage thereby incurred or suffered by ACIM or ACCP. In such case, the terms of this Agreement shall continue in full force and effect and the Subadvisor obligations shall be performed or carried out as soon as legally and practicably possible after the cessation of such acts, events or circumstances. 9 IN WITNESS WHEREOF, the parties hereto have caused this instrument to be executed by their officers designated below on the day and year first written above. AMERICAN CENTURY INVESTMENT MANAGEMENT, INC. By: ------------------------------------- Name: ----------------------------------- Title: ----------------------------------- NORTHERN TRUST INVESTMENTS, N.A. By: ------------------------------------- Name: ----------------------------------- Title: ----------------------------------- EXHIBIT A TO INVESTMENT SUBADVISORY AGREEMENT FUNDS AND APPLICABLE FEES FUND APPLICABLE FEE ---- -------------- American Century Equity Index Fund 0.02% of the first $500,000,000 0.01% on all assets over $500,000,000 - ------------------------------------------ ------------------------------------- ------------------------------------------- TO VOTE BY TELEPHONE | TO VOTE BY INTERNET | TO VOTE BY MAIL 1) Read the Proxy Statement and have the | 1) Read the Proxy Statement and have| 1) Read the Proxy Statement proxy card below at hand. | the proxy card below at hand. | 2) Check the appropriate boxes on the proxy 2) Call toll-free 1-888-________ | 2) Log on to www.proxyweb.com | card on the reverse side. 3) Follow the simple instructions. | 3) Follow the simple instructions. | 3) Sign and date the proxy Card. | | 4) Return the proxy card in the envelope | | provided. - ------------------------------------------ ------------------------------------- ------------------------------------------- AMERICAN CENTURY ____________. PROXY FOR SPECIAL MEETING OF SHAREHOLDERS TO BE HELD ON JUNE 27, 2007 KNOW ALL PERSONS BY THESE PRESENTS that the undersigned shareholder of _____________. (the "Corporation"), hereby appoints each of Charles A. Etherington, David H. Reinmiller, Brian L. Brogan, Otis H. Cowan and Janet A. Nash, collectively or individually, as his or her attorney-in-fact and proxy, with the power of substitution of each, to vote and act with respect to all shares of the Issuer, which the undersigned is entitled to vote at the Special Meeting of Shareholders (the "Meeting") to be held on June 27, 2007 at the principal executive offices of the Corporation at 4500 Main Street, Kansas City, Missouri 64111, at 10:00 a.m. Central Time, and at any adjournment thereof. The attorneys named will vote the shares represented by this proxy in accordance with the choices made on this ballot. Discretionary authority is hereby conferred as to all other matters as may properly come before the Meeting or any adjournment thereof. THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS OF THE CORPORATION. THIS PROXY, WHEN PROPERLY EXECUTED, WILL BE VOTED IN THE MANNER DIRECTED BY THE UNDERSIGNED SHAREHOLDER. IF NO DIRECTION IS MADE, THIS PROXY WILL BE VOTED "FOR" THE PROPOSAL. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | | Please complete, sign and return this card | | as soon as possible. | | | | | | | | | | -------------------------------------------------------- | | Signature(s) and Title(s), if applicable Date | | | | Please sign this proxy exactly as your name appears | | on the books of the Corporation. Joint owners | | should each sign personally. Trustees and other | | fiduciaries should indicate the capacity in which | | they sign, and where more than one name appears, a | | majority must sign. If a corporation, this signature | | should be that of an authorized officer who should |_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | state his or her title. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - FOLD HERE After careful consideration, the Board of Directors of the Corporation unanimously approved the proposal listed below and recommended that shareholders vote "for" the proposal. PLEASE MARK YOUR VOTE BELOW IN BLUE OR BLACK INK OR NUMBER 2 PENCIL. PLEASE DO NOT USE FINE POINT PENS. FOR AGAINST ABSTAIN 1. To elect James E. Stowers, Jonathan S. Thomas, Thomas A. Brown, Andrea C. | | | | | | Hall, James A. Olson, Donald H. Pratt, Gale E. Sayers, M. Jeannine Strandjord, and Timothy S. Webster to the Board of Directors of American Century ______. YOUR VOTE IS IMPORTANT. PLEASE COMPLETE, SIGN AND RETURN THIS CARD AS SOON AS POSSIBLE. - ------------------------------------------ ------------------------------------- ------------------------------------------- TO VOTE BY TELEPHONE | TO VOTE BY INTERNET | TO VOTE BY MAIL 1) Read the Proxy Statement and have the | 1) Read the Proxy Statement and have| 1) Read the Proxy Statement proxy card below at hand. | the proxy card below at hand. | 2) Check the appropriate boxes on the proxy 2) Call toll-free 1-888-________ | 2) Log on to www.proxyweb.com | card on the reverse side. 3) Follow the simple instructions. | 3) Follow the simple instructions. | 3) Sign and date the proxy Card. | | 4) Return the proxy card in the envelope | | provided. - ------------------------------------------ ------------------------------------- ------------------------------------------- AMERICAN CENTURY ____________. AMERICAN CENTURY ______ FUND PROXY FOR SPECIAL MEETING OF SHAREHOLDERS TO BE HELD ON JUNE 27, 2007 KNOW ALL PERSONS BY THESE PRESENTS that the undersigned shareholder of American Century ________ Fund (the "Fund"), a series of American Century ___________ (the "Corporation"), hereby appoints each of Charles A. Etherington, David H. Reinmiller, Brian L. Brogan, Otis H. Cowan and Janet A. Nash, collectively or individually, as his or her attorney-in-fact and proxy, with the power of substitution of each, to vote and act with respect to all shares of the Fund, which the undersigned is entitled to vote at the Special Meeting of Shareholders (the "Meeting") to be held on June 27, 2007 at the principal executive offices of the Corporation at 4500 Main Street, Kansas City, Missouri 64111, at 10:00 a.m. Central Time, and at any adjournment thereof. The attorneys named will vote the shares represented by this proxy in accordance with the choices made on this ballot. Discretionary authority is hereby conferred as to all other matters as may properly come before the Meeting or any adjournment thereof. THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS OF THE CORPORATION. THIS PROXY, WHEN PROPERLY EXECUTED, WILL BE VOTED IN THE MANNER DIRECTED BY THE UNDERSIGNED SHAREHOLDER. IF NO DIRECTION IS MADE, THIS PROXY WILL BE VOTED "FOR" THE PROPOSAL. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | | Please complete, sign and return this card | | as soon as possible. | | | | | | | | | | -------------------------------------------------------- | | Signature(s) and Title(s), if applicable Date | | | | Please sign this proxy exactly as your name appears | | on the books of the Corporation. Joint owners | | should each sign personally. Trustees and other | | fiduciaries should indicate the capacity in which | | they sign, and where more than one name appears, a | | majority must sign. If a corporation, this signature | | should be that of an authorized officer who should |_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | state his or her title. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - FOLD HERE After careful consideration, the Board of Directors of the Corporation unanimously approved the proposal listed below and recommended that shareholders vote "for" the proposals. PLEASE MARK YOUR VOTE BELOW IN BLUE OR BLACK INK OR NUMBER 2 PENCIL. PLEASE DO NOT USE FINE POINT PENS. FOR AGAINST ABSTAIN 1. To elect James E. Stowers, Jonathan S. Thomas, Thomas A. Brown, Andrea C. Hall, James A. Olson, Donald H. Pratt, Gale E. Sayers, M. Jeannine | | | | | | Strandjord, and Timothy S. Webster to the Board of Directors of American Century ______. FOR AGAINST ABSTAIN 2. To approve a change in the unified management fee of the Advisor Class of American Century _______ Fund. | | | | | | YOUR VOTE IS IMPORTANT. PLEASE COMPLETE, SIGN AND RETURN THIS CARD AS SOON AS POSSIBLE. - ------------------------------------------ ------------------------------------- ------------------------------------------- TO VOTE BY TELEPHONE | TO VOTE BY INTERNET | TO VOTE BY MAIL 1) Read the Proxy Statement and have the | 1) Read the Proxy Statement and have| 1) Read the Proxy Statement proxy card below at hand. | the proxy card below at hand. | 2) Check the appropriate boxes on the proxy 2) Call toll-free 1-888-________ | 2) Log on to www.proxyweb.com | card on the reverse side. 3) Follow the simple instructions. | 3) Follow the simple instructions. | 3) Sign and date the proxy Card. | | 4) Return the proxy card in the envelope | | provided. - ------------------------------------------ ------------------------------------- ------------------------------------------- AMERICAN CENTURY CAPITAL PORTFOLIOS, INC. AMERICAN CENTURY REAL ESTATE FUND PROXY FOR SPECIAL MEETING OF SHAREHOLDERS TO BE HELD ON JUNE 27, 2007 KNOW ALL PERSONS BY THESE PRESENTS that the undersigned shareholder of American Century Real Estate Fund (the "Fund"), a series of American Century Capital Portfolios, Inc. (the "Corporation"), hereby appoints each of Charles A. Etherington, David H. Reinmiller, Brian L. Brogan, Otis H. Cowan and Janet A. Nash, collectively or individually, as his or her attorney-in-fact and proxy, with the power of substitution of each, to vote and act with respect to all shares of the Fund, which the undersigned is entitled to vote at the Special Meeting of Shareholders (the "Meeting") to be held on June 27, 2007 at the principal executive offices of the Corporation at 4500 Main Street, Kansas City, Missouri 64111, at 10:00 a.m. Central Time, and at any adjournment thereof. The attorneys named will vote the shares represented by this proxy in accordance with the choices made on this ballot. Discretionary authority is hereby conferred as to all other matters as may properly come before the Meeting or any adjournment thereof. THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS OF THE CORPORATION. THIS PROXY, WHEN PROPERLY EXECUTED, WILL BE VOTED IN THE MANNER DIRECTED BY THE UNDERSIGNED SHAREHOLDER. IF NO DIRECTION IS MADE, THIS PROXY WILL BE VOTED "FOR" THE PROPOSAL. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | | Please complete, sign and return this card | | as soon as possible. | | | | | | | | | | -------------------------------------------------------- | | Signature(s) and Title(s), if applicable Date | | | | Please sign this proxy exactly as your name appears | | on the books of the Corporation. Joint owners | | should each sign personally. Trustees and other | | fiduciaries should indicate the capacity in which | | they sign, and where more than one name appears, a | | majority must sign. If a corporation, this signature | | should be that of an authorized officer who should |_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | state his or her title. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - FOLD HERE After careful consideration, the Board of Directors of the Corporation unanimously approved the proposal listed below and recommended that shareholders vote "for" the proposals. PLEASE MARK YOUR VOTE BELOW IN BLUE OR BLACK INK OR NUMBER 2 PENCIL. PLEASE DO NOT USE FINE POINT PENS. FOR AGAINST ABSTAIN 1. To elect James E. Stowers, Jonathan S. Thomas, Thomas A. Brown, Andrea C. Hall, James A. Olson, Donald H. Pratt, Gale E. Sayers, M. Jeannine | | | | | | Strandjord, and Timothy S. Webster to the Board of Directors of American Century Capital Portfolios, Inc. FOR AGAINST ABSTAIN 2. To approve a change in the unified management fee of the Advisor Class of American Century Real Estate Fund. | | | | | | FOR AGAINST ABSTAIN 3. To approve an amendment to the investment objective of American Century Real Estate Fund. | | | | | | YOUR VOTE IS IMPORTANT. PLEASE COMPLETE, SIGN AND RETURN THIS CARD AS SOON AS POSSIBLE. - ------------------------------------------ ------------------------------------- ------------------------------------------- TO VOTE BY TELEPHONE | TO VOTE BY INTERNET | TO VOTE BY MAIL 1) Read the Proxy Statement and have the | 1) Read the Proxy Statement and have| 1) Read the Proxy Statement proxy card below at hand. | the proxy card below at hand. | 2) Check the appropriate boxes on the proxy 2) Call toll-free 1-888-________ | 2) Log on to www.proxyweb.com | card on the reverse side. 3) Follow the simple instructions. | 3) Follow the simple instructions. | 3) Sign and date the proxy Card. | | 4) Return the proxy card in the envelope | | provided. - ------------------------------------------ ------------------------------------- ------------------------------------------- AMERICAN CENTURY CAPITAL PORTFOLIOS, INC. AMERICAN CENTURY EQUITY INDEX FUND PROXY FOR SPECIAL MEETING OF SHAREHOLDERS TO BE HELD ON JUNE 27, 2007 KNOW ALL PERSONS BY THESE PRESENTS that the undersigned shareholder of American Century Equity Index Fund (the "Fund"), a series of American Century Capital Portfolios, Inc. (the "Corporation"), hereby appoints each of Charles A. Etherington, David H. Reinmiller, Brian L. Brogan, Otis H. Cowan and Janet A. Nash, collectively or individually, as his or her attorney-in-fact and proxy, with the power of substitution of each, to vote and act with respect to all shares of the Fund, which the undersigned is entitled to vote at the Special Meeting of Shareholders (the "Meeting") to be held on June 27, 2007 at the principal executive offices of the Corporation at 4500 Main Street, Kansas City, Missouri 64111, at 10:00 a.m. Central Time, and at any adjournment thereof. The attorneys named will vote the shares represented by this proxy in accordance with the choices made on this ballot. Discretionary authority is hereby conferred as to all other matters as may properly come before the Meeting or any adjournment thereof. THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS OF THE CORPORATION. THIS PROXY, WHEN PROPERLY EXECUTED, WILL BE VOTED IN THE MANNER DIRECTED BY THE UNDERSIGNED SHAREHOLDER. IF NO DIRECTION IS MADE, THIS PROXY WILL BE VOTED "FOR" THE PROPOSAL. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | | Please complete, sign and return this card | | as soon as possible. | | | | | | | | | | -------------------------------------------------------- | | Signature(s) and Title(s), if applicable Date | | | | Please sign this proxy exactly as your name appears | | on the books of the Corporation. Joint owners | | should each sign personally. Trustees and other | | fiduciaries should indicate the capacity in which | | they sign, and where more than one name appears, a | | majority must sign. If a corporation, this signature | | should be that of an authorized officer who should |_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | state his or her title. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - FOLD HERE After careful consideration, the Board of Directors of the Corporation unanimously approved the proposal listed below and recommended that shareholders vote "for" the proposals. PLEASE MARK YOUR VOTE BELOW IN BLUE OR BLACK INK OR NUMBER 2 PENCIL. PLEASE DO NOT USE FINE POINT PENS. FOR AGAINST ABSTAIN 1. To elect James E. Stowers, Jonathan S. Thomas, Thomas A. Brown, Andrea C. Hall, James A. Olson, Donald H. Pratt, Gale E. Sayers, M. Jeannine | | | | | | Strandjord, and Timothy S. Webster to the Board of Directors of American Century Capital Portfolios, Inc. FOR AGAINST ABSTAIN 2. To approve a new subadvisory agreement between Northern Trust Investments, N.A. and American Century Investment Management, Inc., pertaining to | | | | | | the management of American Century Equity Index Fund. YOUR VOTE IS IMPORTANT. PLEASE COMPLETE, SIGN AND RETURN THIS CARD AS SOON AS POSSIBLE.
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PRE 14A Filing
American Century Emerging Markets Fund - I Class (AMKIX) PRE 14APreliminary proxy
Filed: 23 Mar 07, 12:00am