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Asset
Allocation |
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Sector
Weightings |
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Credit
Quality |
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Maturity
Distribution |
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Portfolio
Statistics |
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Top Ten
Holdings |
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American Beacon High Yield Bond Fund
Fund information as of
June 30, 2007
Investment Advisors
American Beacon
Advisors, Inc. acts as the manager of the American Beacon High Yield Bond
Fund. American Beacon Advisors evaluates the sub-advisors, monitors their performance and ensures adherence to investment guidelines and styles. The sub-asvisors of the fund are:
Investment Style
The Fund invests
in domestic and foreign high yield bonds. High yield issuers are generally
those which have below investment grade ratings because they are relatively
small in size, relatively young in years, relatively leveraged financially
(perhaps borrowing heavily to finance expansion or due to a leveraged
buyout), or formerly “blue chip” companies that have encountered
some financial difficulties. These types of securities are commonly referred
to as "junk bonds".
The Fund’s weighted
average maturity of debt securities is generally expected to be from six
to eight years. By emphasizing below investment grade debt securities,
the Fund seeks to offer shareholders a regular stream of high income,
while providing capital appreciation over time.
In selecting investments, the sub-advisors relies heavily on internal research
and credit analysis. The investment advisors will adjust the Fund’s
overall credit rating and average maturity based on its judgment of the
economic climate, industry dynamics, and values in the high yield market.
Asset Allocation
| Fixed Income |
96.9% |
| Cash |
3.1% |
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Sector Weightings
| |
Fund |
JPMorgan Global
High-Yield Index* |
| Manufacturing |
32.3 |
31.9 |
| Service |
21.3 |
23.5 |
| Cable/Media |
17.0 |
10.6 |
| Energy |
8.7 |
8.8 |
| Consumer |
6.7 |
4.4 |
| Finance |
5.0 |
6.1 |
| Other Corporate |
4.9 |
4.7 |
| Utilities |
2.5 |
5.6 |
| Telecommunication Services |
1.5 |
2.4 |
| Transportation |
0.1 |
2.0 |
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Credit Quality (%)
|
|
| A |
0.0 |
| BBB |
0.9 |
| BB |
21.2 |
| B |
60.7 |
| CCC |
15.5 |
| Not
Rated |
1.7 |
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Maturity Distribution (Years) (%)
| 0
to 1 |
3.5 |
| 1
to 3 |
0.9 |
| 3
to 5 |
17.6 |
| 5
to 7 |
31.6 |
| 7
to 10 |
42.4 |
| 10
+ |
4.0 |
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Portfolio Statistics
| Fixed
Income |
Fund |
JPMorgan Global
High-Yield Index |
| Average
Credit Quality |
B+ |
B+ |
| Weighted Avg. Life |
6.8 |
7.4 |
| Effective
Duration |
3.9 |
4.4 |
| Weighted
Average Coupon (%) |
8.0 |
8.2 |
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Top Ten Holdings (%)
View
all holdings
| General Motors Acceptance Corp. |
1.5 |
| Edison Mission Energy |
1.3 |
| Lyondell Chemical Co. |
1.1 |
| Insight Communications Co., Inc. |
1.1 |
| Umbrella Acquisition, Inc. |
1.1 |
| Levi Strauss & Co. |
1.0 |
| Superior Essex Communications |
0.9 |
| Neenah Paper, Inc. |
0.9 |
| Ineos Group Holdings plc |
0.9 |
| United Components, Inc. |
0.9 |
| Total
Fund Holdings: 240 |
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Click here for NAVs.
Click here to obtain a fund prospectus
or call (800) 967-9009.
Distributed
by Foreside Fund Services, LLC
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