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American Beacon Short-Term Bond Fund
Portfolio information as of June 30, 2007
Investment Advisor
American Beacon
Advisors, Inc. acts as sole advisor to this Fund, as well as to the American
Beacon Funds' money market portfolios. American Beacon Advisors also manages
the equity funds of the American Beacon Funds' family, serving as the
leader of a team of premier investment advisors.
Investment Style
The Fund maintains a relatively short weighted average duration of one to three years. This policy is intended to lessen the Fund's sensitivity to changes in interest rates, By emphasizing investment grade securities, the Fund seeks to provide shareholders with a regular stream of income, while minimizing principal volatility.
American Beacon Advisors, Inc. utilizes a top-down approach, analyzing macroeconomic data to anticipate economic momentum shifts, inflationary trends, the shape of the yield curve, and Federal Reserve policy. American Beacon strives to increase returns by actively managing the duration and quality of the portfolio, consistent with historical relationships among economic growth, inflation and the direction of interest rates.
The Fund typically invests in a diversified mix of debt securities, including obligations of the U.S. Government, its agencies and instrumentalities; corporate bonds, notes and debentures; certificates of deposit; and mortgage-backed securities.
At the time of purchase, all securities are rated in one of the four highest rating categories or, if unrated, deemed to be of compatible quality by American Beacon.
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Sector Weightings vs. Merrill Lynch 1-3 Yr. Index (%)
|
Fund |
ML 1-3 YR.
Index |
| Corporates |
69.8 |
22.8 |
| Asset-Backed |
24.2 |
0.0 |
| Mortgage-Backed |
6.0 |
0.0 |
| U.S.
Agency |
0.0 |
25.3 |
| U.S.
Treasury |
0.0 |
51.9 |
| |
|
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Credit Quality (%)
|
Fund |
ML 1-3 YR.
Index |
| Aaa |
33.6 |
81.6 |
| Aa |
31.6 |
6.9 |
| A |
24.7 |
7.3 |
| Baa |
10.1 |
4.2
|
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Maturity Distribution (Years) (%)
| 0 to 1 |
17.6 |
| 1
to 3 |
58.1 |
| 3 to 5 |
24.3 |
| 5
to 7 |
0.0 |
| 7 to 10 |
0.0 |
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Portfolio Statistics
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Top Ten Holdings Excluding Treasuries (%)
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all holdings
| General
Electric Capital Corp., 5.875% 2/15/2012 |
3.4 |
| USAA AUTO Owner Trust, 5.550% 2/15/2013 |
3.4 |
| Banc
of America Securities Auto Trust, 4.08% 4/18/2010 |
3.3 |
| HSBC Automotive Trust, 4.35%, 6/18/2012 |
3.3 |
| DaimlerChrysler Auto Trust, 3.28% 12/8/2009 |
3.3 |
| Merrill Lynch & Co., Inc., 6.000% 2/17/2009 |
2.8 |
| John Deere Capital Corp., 4.125% 1/15/2010 |
2.7 |
| Comerica Bank 6.00%, 10/1/2008 |
2.5 |
| MBNA Corp., 7.500%, 3/15/2012 |
2.4 |
| John Hancock Global Funding II,, 7.900% 7/2/2010 |
2.4 |
| Total
Fund Holdings: 49 |
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Click
here for NAVs.
Click here to obtain a fund prospectus
or call (800) 388-3344.
Distributed
by Foreside Fund Services, LLC.
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