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 contain 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 debt securities entails interest rate risk which is the risk that debt securities will decrease in value with increases in market interest rates. Performance shown prior to the 3/1/10 inception of the Y Class is that of the Investor 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 Investor Class. Because the Investor Class had a different expense structure, its performance was different than the Y Class would have realized in the same period. 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. Maximum Sales Charge is the maximum front-end sales charge (load) imposed on purchases (as a % of offering price). *Annualized. **The Lipper Intermediate Investment Grade Debt Funds Index tracks the results of the 30 largest mutual funds in the Lipper Intermediate Investment Grade Debt Funds category. Lipper is an independent mutual fund research and ranking service. ***75% Lehman Gov/Cr Int/25% BofA Merrill Lynch All Convertibles prior to 10/31/06 and 75% Barclays Capital Aggregate Bond/25% BofA Merrill Lynch All Convertibles since 11/01/06. The Barclays Capital U.S. Aggregate Bond Index is an unmanaged index of investment-grade corporate and government debt issues with maturities between one and ten years. The BofA Merrill Lynch All U.S. Convertibles Index is an unmanaged index of domestic securities of all quality grades that are convertible into U.S. dollar-denominated common stock, ADRs or cash equivalents. The four highest Moody’s ratings for long-term obligations (or issuers thereof) are Aaa, Aa, A and Baa. Obligations rated Aaa are judged to be of the highest quality, with minimal credit risk. Obligations rated Aa are judged to be of high quality and are subject to very low credit risk. Obligations rated A are considered upper medium-grade and are subject to low credit risk. Obligations rated Baa are subject to moderate credit risk. They are considered medium-grade and as such may possess certain speculative characteristics. Moody’s appends numerical modifiers 1, 2, and 3 to each generic rating classification from Aa through Caa. The modifier 1 indicates that the obligation ranks in the higher end of its generic rating category; the modifier 2 indicates a mid-range ranking; and the modifier 3 indicates a ranking in the lower end of that generic rating category.

Distributed by Foreside Fund Services, LLC. American Beacon Funds, and American Beacon Retirement Income and Appreciation Fund are service marks of American Beacon Advisors, Inc.