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BGNAX American Century Ginnie Mae A

  • Fund
  • BGNAX
  • Price as of: Dec 09, 2016
  • $10.57
  • - $0.03
  • - 0.28%
  • Category
  • Mortgage Backed Securities

BGNAX - Profile

Vitals

  • YTD Return -1.1%
  • 3 Yr Annualized Return 1.8%
  • 5 Yr Annualized Return 1.2%
  • Net Assets $1.14 B
  • Holdings in Top 10 39.6%

52 WEEK LOW AND HIGH

$10.57
$10.57
$10.84

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.80%

SALES FEES

  • Front Load 4.50%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 308.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

N/A

Investment Themes

CATEGORY

Mortgage Backed Securities
  • Fund Type Open End Mutual Fund
  • Investment Style Intermediate Government

Distributions

  • YTD Total Return -1.1%
  • 3 Yr Annualized Total Return 0.3%
  • 5 Yr Annualized Total Return 0.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.17%
DIVIDENDS
  • Dividend Yield 0.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name American Century Investments Ginnie Mae Fund
  • Fund Family Name American Century Investments
  • Inception Date Oct 09, 1997
  • Shares Outstanding N/A
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager Dan Shiffman

Fund Description

Under normal market conditions, the fund invests at least 80% of its net assets in securities issued by the Government National Mortgage Association (GNMA). GNMA certificates represent interests in pools of mortgage loans and in the cash flows from these loans. To generate additional income, the fund may purchase securities, including mortgage dollar rolls, in advance through when-issued and forward commitment transactions. It may commit up to 35% of its total assets to such transactions.

BGNAX - Performance

Return Ranking - Trailing

Period BGNAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -1.1% -3.1% 3.5% 50.50% 4
1 Yr 0.8% -0.6% 5.6% 86.00% 5
3 Yr 1.8% * 0.0% 5.5% 90.72% 5
5 Yr 1.2% * 0.1% 7.7% 88.89% 5
10 Yr 3.6% * -0.3% 5.7% 68.12% 4

* Annualized


Return Ranking - Calendar

Period BGNAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -1.6% -4.7% 0.0% 40.40% 4
2014 2.3% 0.0% 5.5% 41.05% 4
2013 -4.9% -5.4% 0.4% 51.09% 5
2012 -0.9% -1.1% 15.9% 56.79% 5
2011 3.4% -2.1% 6.0% 10.13% 1

Total Return Ranking - Trailing

Period BGNAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -1.1% -2.3% 3.5% 55.45% 5
1 Yr -3.7% -4.7% 5.6% 95.00% 5
3 Yr 0.3% * 0.0% 5.5% 95.88% 5
5 Yr 0.3% * 0.1% 7.7% 97.78% 5
10 Yr 3.2% * -0.3% 5.7% 79.71% 4

* Annualized


Total Return Ranking - Calendar

Period BGNAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -1.6% -3.9% 4.6% 49.49% 5
2014 2.3% 0.0% 11.0% 49.47% 4
2013 -4.9% -5.4% 5.2% 52.17% 5
2012 -0.9% -1.1% 31.8% 60.49% 5
2011 3.4% -0.8% 8.0% 21.52% 3

NAV & Total Return History

BGNAX - Holdings

Filings data as of: Sep 30, 2016

Concentration Analysis

BGNAX Category Low Category High BGNAX % Rank Quintile
Net Assets 1.14 B 24.2 M 4.43 B 6.93% 3
Number of Holdings 508 21 2325 9.90% 2
Net Assets in Top 10 557 M -1.05 M 1.22 B 6.93% 2
Weighting of Top 10 39.6% 7.5% 192.7% 13.86% 3

Top 10 Holdings

  1. Govt Natl Mtg Asso 3.5% 7.92%
  2. Govt Natl Mtg Asso 3% 7.81%
  3. GNMA 3.5% 5.50%
  4. GNMA 4% 4.15%
  5. GNMA 3.5% 3.61%
  6. GNMA 3.5% 2.33%
  7. GNMA 5% 2.18%
  8. GNMA 2.5% 2.15%
  9. GNMA 3.5% 2.02%
  10. GNMA 3.5% 1.90%

Asset Allocation

Weighting Category Low Category High BGNAX % Rank Quintile
Bonds
92.33% 62.96% 149.61% 24.75% 5
Cash
7.67% -51.43% 37.04% 4.95% 1
Other
0.00% -0.03% 7.61% 15.84% 5
Convertible Bonds
0.00% 0.00% 0.00% 0.99% 5
Preferred Stocks
0.00% 0.00% 0.31% 1.98% 5
Stocks
0.00% -0.01% 5.43% 6.93% 5

Bond Sector Breakdown

Weighting Category Low Category High BGNAX % Rank Quintile
Securitized
83.53% 2.28% 155.03% 20.79% 4
Corporate
8.81% 0.00% 96.41% 3.96% 1
Cash & Equivalents
7.67% -51.51% 37.04% 4.95% 1
Derivative
0.00% -2.18% 10.80% 1.98% 5
Municipal
0.00% 0.00% 4.34% 1.98% 5
Government
0.00% -14.84% 36.75% 19.80% 4

Bond Geographic Breakdown

Weighting Category Low Category High BGNAX % Rank Quintile
US
92.33% 28.63% 141.08% 21.78% 5
Non US
0.00% 0.00% 63.71% 17.82% 5

BGNAX - Expenses

Operational Fees

BGNAX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.80% 0.05% 2.60% 41.58% 3
Management Fee 0.55% 0.04% 0.89% 5.94% 5
12b-1 Fee 0.25% 0.00% 1.00% 13.64% 3
Administrative Fee N/A 0.01% 0.40% N/A N/A

Sales Fees

BGNAX Fees (% of AUM) Category Low Category High BGNAX Rank Quintile
Front Load 4.50% 2.25% 4.50% 5.26% 5
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

BGNAX Fees (% of AUM) Category Low Category High BGNAX Rank Quintile
Max Redemption Fee N/A 1.00% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

BGNAX Fees (% of AUM) Category Low Category High BGNAX Rank Quintile
Turnover 308.00% 7.00% 2669.00% 12.87% 2

BGNAX - Distributions

Dividend Yield Analysis

BGNAX Category Low Category High BGNAX % Rank Quintile
Dividend Yield 0.2% 0.00% 0.66% 47.47% 3

Dividend Distribution Analysis

BGNAX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Quarterly Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

BGNAX Category Low Category High BGNAX % Rank Quintile
Net Income Ratio 1.17% -0.13% 6.19% 62.38% 4

Capital Gain Distribution Analysis

BGNAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

BGNAX - Managers

Dan Shiffman

Manager

Start Date

Feb 28, 2006

Tenure

10.76

Tenure Rank

3.2%

Shiffman is vice president and portfolio manager, and he joined American Century in May 2004 as a senior structured securities analyst. Prior to joining American Century, he was an investment officer at CalPERS from August 1996 to April 2004. He has a bachelor’s degree in social sciences from the University of California – Berkeley and an MBA from the Thunderbird School of Global Management. He is a CFA charterholder.


Jesse Singh

Manager

Start Date

Feb 26, 2014

Tenure

2.76

Tenure Rank

14.7%

Mr. Singh, Vice President and Portfolio Manager, has served on teams managing fixed-income investments since joining the American Century Investments, Inc. in 2007 as a senior structured securities analyst. He was promoted to portfolio manager in 2011. He has a bachelor’s degree in economics from the University of California – Berkeley and an MBA from the Leonard N. Stern School of Business at New York University. He is a CFA charterholder and a member of the CFA Institute.


Alejandro H. Aguilar

Manager

Start Date

Oct 31, 2003

Tenure

13.09

Tenure Rank

2.2%

Aguilar is vice president and senior portfolio manager at American Century. He is a member of the American Century Taxable Bond team. He joined American Century in October 2003. Prior to joining American Century, he was an Investment Officer with CalPERS from July 2002 to September 2003 and Director of Portfolio Management at TIAA-CREF from May 1997 to April 2002. Aguilar holds the Chartered Financial Analyst designation.


Robert V. Gahagan

Lead Manager

Start Date

Aug 01, 2006

Tenure

10.34

Tenure Rank

3.6%

Mr. Gahagan, Senior Vice President and Senior Portfolio Manager, joined American Century Investments in 1983.  He became a portfolio manager in 1991. He has a bachelor’s degree in economics and an MBA from the University of Missouri – Kansas City.


Tenure Analysis

Category Low

0.1

Category High

23.8

Category Average

5.78

Category Mode

1.9