Securities of the Fund may only be sold by offering the Fund’s Prospectus and Summary Prospectus. You should consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. The Prospectus and Summary Prospectus contains this and additional information regarding the Fund. To obtain a Prospectus and Summary Prospectus, please contact your Financial Advisor, call 1-800-967-9009 or visit www.americanbeaconfunds.com. The Prospectus and Summary Prospectus should be read carefully before investing.

IMPORTANT INFORMATION:

There is no guarantee that the investment objectives will be met. Indices are unmanaged and one cannot invest directly in an index. Investing in foreign equities entails additional risk not associated with domestic equities, such as currency fluctuations, economic and political instability and differences in accounting standards. The risks of investing in foreign equities are heightened when investing in emerging markets. Performance shown prior to the 10/1/02 inception of the Investor Class is that of the Institutional Class. The returns have not been adjusted for any difference between the fees and expenses of the Investor Class and the historical fees and expenses of the Institutional Class. Because the Institutional Class had lower expenses, its performance was better than the Investor Class would have realized during the same period. A portion of the fees charged to the Investor Class of the Fund was waived in 2004 and 2005 and recouped in 2006. Performance prior to waiving and recouping fees was different than the actual returns shown. Performance shown prior to the 3/1/10 inception of the Y Class is that of the Institutional Class. The returns have not been adjusted for any difference between the fees and expenses of the Y Class and the historical fees and expenses of the Institutional Class. Because the Institutional Class had lower expenses, its performance was better than the Y Class would have realized during the same period. A portion of the fees charged to the Fund has been waived. Performance prior to waiving fees was lower than the actual returns shown. Performance shown prior to the 5/17/10 inception of the A Class is that of the Investor Class. The returns have not been adjusted for any difference between the fees and expenses of the A Class and the historical fees and expenses of the Investor Class. Because the Investor Class had lower expenses, its performance was better than the A Class would have realized during the same period. *Annualized. **The Lipper Emerging Markets Fund Index tracks the results of the 30 largest mutual funds in the Lipper Emerging Markets Fund category. Lipper is an independent mutual fund research and ranking service. ***The MSCI Emerging Markets Index is a market capitalization weighted index of companies that are representative of the market structure of developing countries in Latin American, Asia, Eastern Europe, the Middle East and Africa. The P/E Ratio of a stock is calculated by dividing the current price by forecasted twelve-month earnings per share. The P/B Ratio of a stock is calculated by dividing the current price by book value per share. R-squared (R2) is the percentage of the Fund’s three-year return that is explained by movements in its benchmark index. Alpha is a measure of the Fund’s expected performance versus the benchmark, adjusted for relative risk. Beta is a measure of the Fund’s volatility versus the benchmark. Sharpe Ratio is a measure of the Fund’s return per unit of total risk. Standard Deviation is a measure of the historical volatility of the Fund’s returns. Maximum Sales Charge is the maximum front-end sales charge (load) imposed on purchases (as a % of offering price).

Distributed by Foreside Fund Services, LLC. American Beacon Funds and American Beacon Emerging Markets Fund are service marks of American Beacon Advisors, Inc.