American Beacon Month-End Fund Performance

Information as of 01/31/2014

All performance is historical and does not represent future results. The value of an investment in the equity and bond funds will fluctuate up and down. When you sell your shares of these funds, they could be worth more or less than you paid for them.

Performance presented below may include historical performance of other classes. Please see the performance notes at the bottom of the page for more information.

  • Excluding Maximum Sales Charge
  • Including Maximum Sales Charge
Institutional
Fund NameFund
Number
TickerGross
Expense
Ratio
Net
Expense
Ratio
YTD1 YR3 YR5 YR10 YR / Since
Inception
Inception
Date
Previous Class
Inception
Date
Acadian Emerging Markets Managed Volatility 4805ACDIX 2.01         1.36£ -6.07--- -4.05     9/27/2013
Balanced 65AADBX 0.60         0.60 -1.6315.0210.7914.83 6.84     7/17/1987
Bridgeway Large Cap Value 3416BRLVX 1.73         0.84Φ -3.9323.9215.7220.05 8.45     10/31/2003
Earnest Partners Emerging Markets Equity 4800ABEEX 2.06         1.36± -6.91--- -11.10     9/19/2013
Emerging Markets 1950AEMFX 1.51         1.36Ω -6.20-8.18-3.6913.73 8.97     7/31/2000
Flexible Bond 63AFXIX 1.24         0.92± -0.49-2.50-- 3.15     7/5/2011
High Yield Bond 1409AYBFX 0.94         0.94 0.856.947.8815.63 6.97     12/29/2000
Holland Large Cap Growth 3431LHGIX 1.33         0.90Φ -3.2821.8913.5620.10 6.71     3/1/2010 Inv 4/29/96
Intermediate Bond 2066AABDX 0.34         0.34 1.250.233.614.98 4.68     3/1/2005
International Equity 67AAIEX 0.73         0.73 -4.5714.727.0714.97 6.95     8/7/1991
International Equity Index 1952AIIIX 0.19         0.19 -4.4711.285.6013.79 6.23     7/31/2000
Large Cap Value 66AADEX 0.60         0.60 -3.7623.0413.7319.46 7.80     7/17/1987
Mid-Cap Value 2167AACIX 1.07         0.99Ω -4.0725.8215.0523.82 9.33     11/30/2005 AMR 6/30/04
S&P 500 Index 902AASPX 0.15         0.15 -3.4721.3013.7619.08 6.73     12/31/1996
SGA Global Growth 4810SGAGX 5.18         0.99£ -5.436.0510.85- 10.32     12/31/2010
Short-Term Bond 2067AASBX 0.37         0.37 0.100.641.282.39 2.84     12/3/1987
SiM High Yield Opportunities 1941SHOIX 0.93         0.84± 1.036.29-- 9.34     2/14/2011
Small Cap Index 1951ASCIX 0.21         0.21 -2.8027.1014.6122.24 8.24     7/31/2000
Small Cap Value 370AVFIX 0.92         0.92 -4.0825.4514.1823.55 9.07     12/31/1998
Stephens Mid-Cap Growth 3421SFMIX 1.29         1.00Φ -1.5722.9814.8623.72 9.98     8/31/2006
Stephens Small Cap Growth 3426STSIX 1.22         1.11Φ -1.7432.8717.9425.61 10.72     8/31/2006
The London Company Income Equity 3860ABCIX 1.14         0.80± -3.1117.12-- 17.20     5/29/2012
Treasury Inflation Protected Securities 2038ATPIX 0.37         0.27Φ 1.26-4.382.614.54 4.19     6/30/2004
Zebra Global Equity 1960AZLIX 2.57         0.80± -4.2213.589.84- 14.01     6/1/2010
Zebra Small Cap Equity 1961AZSIX 2.78         1.00± -5.8725.7414.63- 17.99     6/1/2010


Investor
Fund NameFund
Number
TickerGross
Expense
Ratio
Net
Expense
Ratio
YTD1 YR3 YR5 YR10 YR / Since
Inception
Inception
Date
Previous Class
Inception
Date
Acadian Emerging Markets Managed Volatility 4806ACDPX 2.38         1.74£ -6.08--- -4.15     9/27/2013
Balanced 98AABPX 0.93         0.93 -1.7114.6310.4014.43 6.51     8/1/1994
Bridgeway Large Cap Value 3417BWLIX 2.26         1.22Φ -3.9023.5715.4719.89 8.38     2/3/2012 Instl 10/31/03
Earnest Partners Emerging Markets Equity 4801ABEVX 2.43         1.74± -7.02--- -11.30     9/19/2013
Emerging Markets 105AAEPX 1.85         1.80Ω -6.29-8.65-4.1213.28 8.59     10/1/2002
Flexible Bond 94AFXPX 1.56         1.29± -0.53-2.96-- 2.89     7/5/2011
High Yield Bond 1902AHYPX 1.17         1.10Ω 0.726.587.6215.31 6.70     3/1/2002
Holland Large Cap Growth 3432LHGFX 1.45         1.28Φ -3.3021.4213.2219.85 6.60     4/29/1996
Intermediate Bond 2258ABIPX 0.85         0.80Ω 1.22-0.193.124.50 4.43     3/2/2009 Instl 9/15/97
International Equity 100AAIPX 1.10         1.10 -4.6014.196.6814.56 6.62     8/1/1994
Large Cap Value 99AAGPX 0.97         0.97 -3.7822.5713.3019.03 7.48     8/1/1994
Mid-Cap Value 2246AMPAX 1.45         1.24Ω -4.0325.6714.7823.66 9.18     2/28/2006 AMR 6/30/04, Instl 11/30/05
Retirement Income and Appreciation 2013AANPX 1.13         1.13 0.773.644.256.98 4.61     6/30/2003
S&P 500 Index 904AAFPX 0.63         0.63 -3.4920.7413.2118.56 6.24     3/2/1998
SGA Global Growth 4811SGAPX 5.56         1.37£ -5.445.8910.80- 10.27     10/4/2013 Instl 12/31/10
Short-Term Bond 101AALPX 0.89         0.79Ω 0.070.120.892.01 2.38     8/1/1994
SiM High Yield Opportunities 2238SHYPX 1.15         1.17± 1.015.96-- 8.83     2/14/2011
Small Cap Value 748AVPAX 1.28         1.28 -4.1624.9813.7623.11 8.73     2/28/1999
Small Cap Value II 749ABBVX 4.88         1.45 -3.8020.71-- 18.04     11/15/2011
Stephens Mid-Cap Growth 3422STMGX 1.68         1.38Φ -1.6422.4714.4823.38 7.74     2/1/2006
Stephens Small Cap Growth 3427STSGX 1.58         1.37Φ -1.7732.5217.6225.29 9.14     12/1/2005
The London Company Income Equity 3861ABCVX 1.55         1.18± -3.1416.62-- 16.80     5/29/2012
Treasury Inflation Protected Securities 2259ABTPX 0.77         0.69Φ 1.17-4.782.164.12 3.98     3/2/2009 Instl 6/30/04
Zebra Global Equity 1526AZLPX 2.91         1.18± -4.2913.189.42- 13.57     6/1/2010
Zebra Small Cap Equity 1527AZSPX 3.08         1.38± -5.8525.2914.23- 17.55     6/1/2010


Advisor
Fund NameFund
Number
TickerGross
Expense
Ratio
Net
Expense
Ratio
YTD1 YR3 YR5 YR10 YR / Since
Inception
Inception
Date
Previous Class
Inception
Date
Balanced 2162ABLSX 1.10         1.10 -1.7714.4610.2014.24 6.30     5/31/2005 Inv 8/1/94
International Equity 2035AAISX 1.32         1.25Ω -4.6414.006.5014.31 6.36     5/1/2003
Large Cap Value 2163AVASX 1.09         1.09 -3.8122.3813.1518.85 7.30     5/31/2005 Inv 8/1/94
Mid-Cap Value 2249AMCSX 2.00         1.50Ω -4.0625.1814.4923.27 8.98     6/29/2007 AMR 6/30/04, Instl 11/30/05, Inv 2/28/06
Small Cap Value 2036AASSX 1.42         1.42 -4.1624.8213.6022.93 8.52     5/1/2003



Y
Fund NameFund
Number
TickerGross
Expense
Ratio
Net
Expense
Ratio
YTD1 YR3 YR5 YR10 YR / Since
Inception
Inception
Date
Previous Class
Inception
Date
Acadian Emerging Markets Managed Volatility 4809ACDYX 2.11         1.46£ -5.98--- -4.05     9/27/2013
Balanced 2285ACBYX 0.71         0.71 -1.6914.8410.6314.70 6.78     3/1/2010 Instl 7/17/87
Bridgeway Large Cap Value 3420BWLYX 3.75         0.94Φ -3.8923.8415.6520.00 8.44     2/3/2012 Instl 10/31/03
Earnest Partners Emerging Markets Equity 4804ABEGX 2.16         1.46± -6.92--- -11.20     9/19/2013
Emerging Markets 2288ACEYX 1.73         1.46Ω -6.24-8.29-3.8113.60 8.91     3/1/2010 Instl 7/31/00
Flexible Bond 2210AFXYX 1.28         1.01± -0.50-2.58-- 3.05     7/5/2011
High Yield Bond 2289ACYYX 1.14         0.99Ω 0.846.717.5715.44 6.88     3/1/2010 Instl 12/29/00
Holland Large Cap Growth 3435LHGYX 10.19         1.00Φ -3.2821.7513.4720.04 6.69     3/23/2012 Inv 4/29/96, Instl 3/1/10
Intermediate Bond 2294ACTYX 1.00         0.66Ω 1.22-0.143.274.81 4.59     3/1/2010 Instl 9/15/97
International Equity 2291ABEYX 0.81         0.81 -4.5514.476.9614.88 6.90     8/3/2009 Instl 8/7/91
Large Cap Value 2290ABLYX 0.70         0.70 -3.7422.9213.6219.36 7.76     8/3/2009 Instl 7/17/87
Mid-Cap Value 2287ACMYX 1.29         1.09Ω -4.0325.7214.9523.76 9.30     3/1/2010 AMR 6/30/04, Instl 11/30/05
Retirement Income and Appreciation 2293ACRYX 0.88         0.81Ω 0.713.824.547.18 4.70     3/1/2010 Inv 6/30/03
SGA Global Growth 4814SGAYX 5.28         1.09£ -5.376.0510.85- 10.32     10/4/2013 Instl 12/31/10
Short-Term Bond 2295ACOYX 0.72         0.64Ω 0.190.271.182.30 2.80     3/1/2010 Instl 12/3/87
SiM High Yield Opportunities 2299SHOYX 0.99         0.94± 1.026.27-- 9.17     2/14/2011
Small Cap Value 2292ABSYX 1.01         1.01 -4.1225.2814.0423.38 8.99     8/3/2009 Instl 12/31/98
Small Cap Value II 2211ABBYX 4.52         1.17 -3.7820.96-- 18.36     11/15/2011
Stephens Mid-Cap Growth 3425SMFYX 3.86         1.10Φ -1.6222.8414.7323.54 7.83     2/24/2012 Inv 2/1/06
Stephens Small Cap Growth 3430SPWYX 2.07         1.21Φ -1.7432.8217.7925.40 9.20     2/24/2012 Inv 12/1/05
The London Company Income Equity 3864ABCYX 1.10         0.90± -3.0517.03-- 17.14     5/29/2012
Treasury Inflation Protected Securities 2296ACUYX 0.62         0.61Φ 1.25-4.632.284.27 4.05     3/1/2010 Instl 6/30/04
Zebra Global Equity 2283AZLYX 2.59         0.90± -4.2613.539.73- 13.92     6/1/2010
Zebra Small Cap Equity 2284AZSYX 2.80         1.10± -5.8125.6514.56- 17.89     6/1/2010


A
Fund NameFund
Number
TickerGross
Expense
Ratio
Net
Expense
Ratio
YTD1 YR3 YR5 YR10 YR / Since
Inception
Inception
Date
Previous Class
Inception
Date
Acadian Emerging Markets Managed Volatility 4807ACDAX 2.51         1.86£ -5.99--- -4.15     9/27/2013
Balanced 1509ABFAX 1.14         1.11Ω -1.7114.4110.2214.32 6.46     5/17/2010 Inv 8/1/94
Bridgeway Large Cap Value 3418BWLAX 2.21         1.34Φ -3.9123.3715.3419.81 8.35     2/3/2012 Instl 10/31/03
Earnest Partners Emerging Markets Equity 4802ABEAX 2.56         1.86± -6.93--- -11.30     9/19/2013
Emerging Markets 1515AEMAX 2.02         1.80Ω -6.29-8.61-4.0813.27 8.58     5/17/2010 Inv 10/1/02
Flexible Bond 1540AFXAX 1.69         1.41± -0.54-3.02-- 2.67     7/5/2011
High Yield Bond 1516ABHAX 1.47         1.13Ω 0.726.557.6015.34 6.71     5/17/2010 Inv 3/1/02
Holland Large Cap Growth 3433LHGAX 2.74         1.40Φ -3.3221.2813.1219.78 6.57     2/1/2010 Inv 4/29/96
Intermediate Bond 1519AITAX 1.13         1.00Ω 1.20-0.422.944.35 4.36     5/17/2010 Instl 9/15/97, Inv 3/2/09
International Equity 1525AIEAX 1.30         1.26Ω -4.6013.996.5414.43 6.56     5/17/2010 Inv 8/1/94
Large Cap Value 1510ALVAX 1.13         1.13 -3.7922.4113.1118.91 7.42     5/17/2010 Inv 8/1/94
Mid-Cap Value 1517ABMAX 1.62         1.50Ω -4.0825.2514.4623.22 8.98     5/17/2010 AMR 6/30/04, Instl 11/30/05, Inv 2/28/06
Retirement Income and Appreciation 1521AAPAX 1.29         1.15Ω 0.773.634.246.96 4.60     5/17/2010 Inv 6/30/03
SGA Global Growth 4812SGAAX 5.68         1.49£ -5.445.8910.80- 10.27     10/4/2013 Instl 12/31/10
Short-Term Bond 1520ANSAX 1.12         0.85Ω 0.180.180.811.96 2.35     5/17/2010 Inv 8/1/94
SiM High Yield Opportunities 1539SHOAX 1.41         1.34± 0.995.82-- 8.78     2/14/2011
Small Cap Value 1513ABSAX 1.54         1.42Ω -4.1324.7613.5422.94 8.66     5/17/2010 Inv 2/28/99
Stephens Mid-Cap Growth 3423SMFAX 1.84         1.50Φ -1.5922.3314.4423.35 7.73     2/24/2012 Inv 2/1/06
Stephens Small Cap Growth 3428SPWAX 2.10         1.61Φ -1.7732.2917.4625.19 9.09     2/24/2012 Inv 12/1/05
The London Company Income Equity 3862ABCAX 1.60         1.30± -3.0916.48-- 16.63     5/29/2012
Treasury Inflation Protected Securities 1518ATSAX 1.07         1.00Φ 1.27-5.041.863.88 3.85     5/17/2010 Instl 6/30/04, Inv 3/2/09
Zebra Global Equity 1523AZLAX 2.94         1.30± -4.2513.109.33- 13.47     6/1/2010
Zebra Small Cap Equity 1524AZSAX 3.23         1.50± -5.8425.1514.08- 17.44     6/1/2010


Select
Fund NameFund
Number
TickerGross
Expense
Ratio
Net
Expense
Ratio
YTD1 YR3 YR5 YR10 YR / Since
Inception
Inception
Date
Previous Class
Inception
Date
Money Market Select Fund 1201ASRXX 0.13         0.13 0.010.100.140.20 1.85     12/31/1999
U.S. Government Money Market 1901AAOXX 0.15         0.15 0.000.020.050.10 1.73     12/1/2001


C
Fund NameFund
Number
TickerGross
Expense
Ratio
Net
Expense
Ratio
YTD1 YR3 YR5 YR10 YR / Since
Inception
Inception
Date
Previous Class
Inception
Date
Acadian Emerging Markets Managed Volatility 4808ACDCX 3.26         2.61£ -6.10--- -4.45     9/27/2013
Balanced 3740ABCCX 1.86         1.86 -1.8313.559.3913.70 6.17     9/1/2010 Inv 8/1/94
Bridgeway Large Cap Value 3419BWLCX 6.81         2.09Φ -4.0022.3914.8419.50 8.21     2/3/2012 Instl 10/31/03
Earnest Partners Emerging Markets Equity 4803ABETX 3.31         2.61± -6.94--- -11.50     9/19/2013
Emerging Markets 3745AEMCX 3.75         2.55Ω -6.40-9.33-4.8512.69 8.30     9/1/2010 Inv 10/1/02
Flexible Bond 3765AFXCX 2.45         2.16± -0.60-3.73-- 2.19     7/5/2011
High Yield Bond 3746AHBCX 2.17         1.88Ω 0.655.766.8414.70 6.41     9/1/2010 Inv 3/1/02
Holland Large Cap Growth 3434LHGCX 6.18         2.15Φ -3.3720.3512.5919.44 6.42     3/23/2012 Inv 4/29/96, A 2/1/10
Intermediate Bond 3749AIBCX 1.88         1.75Ω 1.14-1.172.183.83 4.10     9/1/2010 Instl 9/15/97, Inv 3/2/09
International Equity 3742AILCX 2.13         2.00Ω -4.6913.115.7713.81 6.28     9/1/2010 Inv 8/1/94
Large Cap Value 3741ALVCX 1.89         1.89 -3.8521.4112.2618.27 7.13     9/1/2010 Inv 8/1/94
Mid-Cap Value 3747AMCCX 2.47         2.25Ω -4.0824.3913.6522.63 8.70     9/1/2010 AMR 6/30/04, Instl 11/30/05, Inv 2/28/06
Retirement Income and Appreciation 3751ABACX 2.05         1.97Ω 0.602.653.376.35 4.30     9/1/2010 Inv 6/30/03
SGA Global Growth 4813SGACX 6.43         2.24£ -5.455.6510.71- 10.19     10/4/2013 Instl 12/31/10
Short-Term Bond 3750ATBCX 1.90         1.60Ω 0.00-0.670.071.44 2.09     9/1/2010 Inv 8/1/94
SiM High Yield Opportunities 3764SHOCX 2.15         2.09± 1.025.11-- 8.04     2/14/2011
Small Cap Value 3743ASVCX 2.31         2.17Ω -4.2023.8912.6622.29 8.37     9/1/2010 Inv 2/28/99
Stephens Mid-Cap Growth 3424SMFCX 14.55         2.25Φ -1.6721.4913.9123.01 7.54     2/24/2012 Inv 2/1/06
Stephens Small Cap Growth 3429SPWCX 6.17         2.36Φ -1.8031.2816.9124.83 8.90     2/24/2012 Inv 12/1/05
The London Company Income Equity 3863ABECX 2.27         2.05± -3.2415.65-- 15.72     5/29/2012
Treasury Inflation Protected Securities 3748ATSCX 1.79         1.78Φ 1.20-5.771.083.34 3.57     9/1/2010 Instl 6/30/04, Inv 3/2/09
Zebra Global Equity 3753AZLCX 3.75         2.05± -4.3512.208.50- 12.67     9/1/2010 Inv 6/1/10
Zebra Small Cap Equity 3754AZSCX 3.96         2.25± -5.9424.1813.22- 16.59     9/1/2010 Inv 6/1/10


SP


Ultra


R6

Periods more than one year have been annualized.

*Redemption fee (2%, 90-day holding period).

Performance shown is historical and is not indicative of future returns. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance shown is as of date indicated, and current performance may be lower or higher than the performance data quoted. To obtain performance as of the most recent month end, please call 800.967.9009 or visit americanbeaconfunds.com.

Important Information: All investing involves risk, including possible loss of principal. Please note that the recent growth rate in the securities market has helped to produce short-term returns that are not typical and may not continue in the future.

Maximum Sales Charge is the maximum front-end sales charge (load) imposed on purchases (as a % offering price).

Maximum deferred sales charges: A Class – 0.50%. A contingent deferred sales charge (“CDSC”) of 0.50% will be charged on certain purchases of $1,000,000 or more of A Class shares that are redeemed in whole or part within 18 months of purchase.

Class C shares may be subject to a contingent deferred sales charge of up to 1% on certain redemptions made within 12 months of purchase. Performance presented at NAV, which does not include these sales charges, would be lower if these charges were reflected.

Maximum Sales Charge is 5.75% for the following Funds: Acadian Emerging Markets Managed Volatility, AHL Managed Futures Strategy, Bahl & Gaynor Small Cap Growth, Balanced, Bridgeway Large Cap Growth, Bridgeway Large Cap Value, Grosvenor Long/Short, Holland Large Cap Growth, International Equity, Large Cap Value, Mid-Cap Value, SGA Global Growth, Small Cap Value, Stephens Mid-Cap Growth, Stephens Small Cap Growth, The London Company Income Equity and Zebra Small Cap Equity.

Maximum Sales Charge is 4.75% for the following Funds: Flexible Bond, GLG Total Return, Global Evolution Frontier Markets Income, Ionic Strategic Arbitrage and SiM High Yield Opportunities.

Maximum Sales Charge is 2.50% for the following Funds: Crescent Short Duration High Income and Sound Point Floating Rate Income.


EXPENSE RATIOS ASSOCIATED WITH THE FUNDS

American Beacon Advisors has contractually agreed to waive and/or reimburse the Y and Investor Classes of the Fund for other expenses through February 28, 2014.
§The Net Expense Ratio may reflect fees and expenses that American Beacon Advisors has contractually agreed to reduce and/or reimburse through December 31, 2014.
£The Net Expense Ratio may reflect fees and expenses that American Beacon Advisors has contractually agreed to reduce and/or reimburse through May 30, 2015.
±The Net Expense Ratio may reflect fees and expenses that American Beacon Advisors has contractually agreed to reduce and/or reimburse through December 31, 2013.
The fees and expenses shown in the table include both the expenses of the Fund and the Fund's share of the allocated expenses of the Portfolio of State Street Master Funds.
ΩThe Net Expense Ratio may reflect fees and expenses that American Beacon Advisors has contractually agreed to reduce and/or reimburse through February 28, 2014.
ΦThe Net Expense Ratio may reflect fees and expenses that American Beacon Advisors has contractually agreed to reduce and/or reimburse through April 30, 2014.

RISKS ASSOCIATED WITH THE FUNDS

All investing involves risk, including possible loss of principal. There can be no assurances that the investment objectives of any Fund will be met. The Funds are subject to the highlighted risks described below. Please see the prospectus for a complete discussion of Fund risks.

Acadian Emerging Markets Managed Volatility: Foreign securities, emerging market securities, lower volatility securities and futures contracts.

AHL Managed Futures Strategy: Derivative instruments, quantitative models, foreign securities, emerging market securities, high portfolio turnover and fewer issuers.

Alpha Quant Core: Growth stocks, value stocks and medium-capitalization stocks.

Alpha Quant Dividend: Growth stocks, value stocks and medium-capitalization stocks.

Alpha Quant Quality: Growth stocks, value stocks, fewer issuers and medium-capitalization stocks.

Alpha Quant Value: Value stocks, fewer issuers and medium-capitalization stocks.

ARK Transformational Innovation: Fewer issuers, disruptive innovation, foreign securities, Information Technology sector, Health Care sector and Industrials sector.

Bahl & Gaynor Small Cap Growth: Small-capitalization stocks, foreign securities, growth stocks, futures contracts and securities lending.

Balanced: Fixed-income securities, foreign securities, value stocks and futures contracts.

Bridgeway Large Cap Growth: Growth stocks, foreign securities, capital gains and futures contracts.

Bridgeway Large Cap Value: Value stocks, foreign securities, capital gains and futures contracts.

Crescent Short Duration High Income: High-yield securities, including loans, restricted securities and floating rate securities and foreign securities.

Flexible Bond: Derivative instruments, high-yield securities, flexible approach and foreign and emerging market securities.

Garcia Hamilton Quality Bond: Fixed-income securities and credit risk.

GLG Total Return: Foreign and emerging market securities, derivative instruments, fixed-income securities and fewer issuers.

Global Evolution Frontier Markets Income: Foreign securities, emerging market securities, frontier market securities, derivative instruments, fixed-income securities and fewer issuers.

Grosvenor Long/Short: Long/short strategies, fewer issuers, high portfolio turnover, small-capitalization stocks, medium-capitalization stocks, foreign securities, derivative instruments with financial leverage and short sales.

Holland Large Cap Growth: Growth stocks, foreign securities and futures contracts.

International Equity: Foreign securities, value stocks, futures contracts and securities lending.

Ionic Strategic Arbitrage: Arbitrage strategies, fewer issuers, high portfolio turnover, small-capitalization stocks, medium-capitalization stocks, fixed-income securities with convertible securities, foreign securities, derivative instruments and short sales.

Large Cap Value: Value stocks, foreign securities and futures contracts.

Mid-Cap Value: Medium-capitalization stocks, value stocks, foreign securities, futures contracts and securities lending.

Numeric Integrated Alpha: Long/short strategies, short sales, derivative instruments with financial leverage, foreign securities, emerging market securities, fewer issuers, high portfolio turnover, small-capitalization stocks and medium-capitalization stocks.

SGA Global Growth: Foreign securities, emerging market securities, growth stocks, fewer issuers, futures contracts and securities lending.

SiM High Yield Opportunities: High-yield securities, foreign securities, emerging market securities and derivative instruments.

Small Cap Value: Small-capitalization stocks, value stocks, foreign securities, futures contracts and securities lending.

Sound Point Floating Rate Income: High-yield securities, including loans, restricted securities and floating rate securities.

Stephens Mid-Cap Growth: Growth stocks, medium-capitalization stocks, foreign securities and securities lending.

Stephens Small Cap Growth: Growth stocks, small-capitalization stocks, foreign securities and securities lending.

The London Company Income Equity: Small-capitalization stocks, medium-capitalization stocks, foreign securities, dividend-paying stocks, fixed-income securities, fewer issuers and futures contracts.

TwentyFour Strategic Income: Derivative instruments, high-yield securities, fewer issuers, foreign securities and emerging market securities

U.S. Government Money Market Select: You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

Zebra Small Cap Equity: Small-capitalization stocks, foreign securities, limited marketability, futures contracts and securities lending.

Risk Descriptions

The Fund’s strategy of investing in a variety of arbitrage strategies entails certain risks including that the sub-advisor’s judgments about allocation between such strategies, as well as individual arbitrage opportunities, may not perform to expectations, resulting in the Fund’s underperformance or even losses versus other similar funds. Arbitrage is the simultaneous purchase and sale of an asset or assets to take advantage of a perceived pricing anomaly.

Although the Fund is managed pursuant to a tax management strategy, the Fund’s investments could create capital gains.

Credit risk is the risk that the issuer of a bond will fail to make timely payment of interest or principal; and the decline in an issuer’s credit rating can cause the price of its bonds to go down.

Derivative instruments may involve liquidity, credit, interest rate and market risks and, in some cases, the addition of financial leverage, which can magnify these risks.

Companies that the sub-advisor believes are capitalizing on disruptive innovation and developing technologies to displace older technologies or create new markets may not in fact do so. To the extent the Fund invests more heavily in particular sectors, its performance will be sensitive to factors affecting those sectors: Information Technology sector companies may face intense competition and rapid product obsolescence, have limited product lines, markets, financial resources or personnel, and lose patent, copyright and trademark protections; investing in Health Care sector companies involves risk due to government regulations, product litigation, competitive forces and loss of patent protection; Industrials sector companies are subject to risk due to changes in government regulations, world events, economic conditions, environmental damages, product liability claims and exchange rates.

Investing in dividend-paying stocks may result in less earnings growth or capital appreciation than investing in non-dividend paying stocks.

Because the Fund may invest in fewer issuers than a more diversified portfolio, the fluctuating value of a single holding may have a greater effect on the value of the Fund.

The use of fixed-income securities, including convertible securities, entails interest rate and credit risks. In addition, the value of a convertible security could fluctuate based on the value of the underlying stock.

Although the Fund has a flexible approach to investing, diversification does not ensure against loss.

Foreign, frontier and emerging market securities may involve heightened risks due to currency fluctuations and economic and political risks.

The use of futures contracts for cash management may subject the Fund to losing more money than invested.

Growth stocks are typically more volatile than value stocks; however, value stocks have a lower expected growth rate in earnings and sales.

High portfolio turnover may increase a Fund’s transaction costs and possibly have a negative impact on performance.

High-yield securities may include loans, restricted securities and floating-rate securities that are subject to greater levels of credit, interest rate, market and liquidity risks than investment-grade securities.

At times, certain securities may have limited marketability and may be difficult to sell.

The Fund’s strategy of investing in a variety of long/short strategies entails certain risks including that the lead sub-advisor’s judgements about allocation between such strategies, as well as the selection of the sub-advisors and their subsequent individual investment decisions, may not perform to expectations resulting in the Fund’s underperformance or even losses versus other similar funds.

Loans subject a Fund to the risk that it may not be able to obtain the collateral securing the loan in a timely manner, and the value of the collateral may not cover the amount owed on the loan.

Lower volatility securities may produce more modest gains than other stock funds as a trade-off for the potentially lower downside risk.

Medium-capitalization stocks may involve greater volatility and lower liquidity than larger company stocks.

Quantitative model investing may lead to high levels of trading and concentration among certain investments, resulting in higher trading costs and return volatility.

The Fund may participate in a securities lending program.

Short sales involve special risks, including greater reliance on the sub-advisor’s ability to accurately anticipate the future value of a security or instrument; the Fund’s losses are potentially unlimited in a short sale.

Small-capitalization stocks may involve greater volatility and lower liquidity than larger company stocks.

Value stocks may limit downside risk over time; however, they may produce more modest gains than riskier stock funds as a trade-off for this potentially lower risk.

Performance Associated with EACH Class of the Funds

Acadian Emerging Markets Managed Volatility: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

AHL Managed Futures Strategy: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Alpha Quant Core: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Alpha Quant Diversified: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Alpha Quant Quality: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Alpha Quant Value: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

ARK Transformational Innovation: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Bahl & Gaynor Small Cap Growth: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Bridgeway Large Cap Growth: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Crescent Short Duration High Income: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Flexible Bond: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Garcia Hamilton Quality Bond: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

GLG Total Return: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Grosvenor Long/Short: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Numeric Integrated Alpha: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

SGA Global Growth: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Sound Point Floating Rate Income: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

TwentyFour Strategic Income: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Zebra Small Cap Equity: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Performance Associated with the INSTITUTIONAL Class Funds

SiM High Yield Opportunities: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Stephens Mid-Cap Growth: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Bridgeway Large Cap Value: A portion of fees charged to the Fund was waived from 2008 through 2013, partially recovered in 2014 and fully recovered in 2015. Performance prior to waiving fees was lower than actual returns shown from 2008 through 2013.

Global Evolution Frontier Markets Income: A portion of fees charged to the Fund was waived from Fund inception through 2015 and partially recovered in 2016 and 2017. Performance prior to waiving fees was lower than actual returns shown through 2015.

Holland Large Cap Growth: A portion of fees charged to the Fund was waived from 2010 through 2012, partially recovered in 2013 and 2014, and fully recovered in 2015. Performance prior to waiving fees was lower than actual returns shown from 2010 through 2012.

International Equity: A portion of fees charged to the Fund was waived from 2013 through 2015. Performance prior to waiving fees was lower than actual returns shown from 2013 through 2015.

Ionic Strategic Arbitrage: A portion of fees charged to the Fund has been waived since June 30, 2015. Performance prior to waiving fees was lower than actual returns shown since June 30, 2015.

Mid-Cap Value: A portion of fees charged to the Fund was waived from 2007 through 2013 and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown from 2007 through 2013.

Stephens Small Cap Growth: A portion of fees charged to the Fund was waived from 2006 through 2013 and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown from 2006 through 2013.

The London Company Income Equity: A portion of fees charged to Fund was waived from 2012 through 2014 and partially recovered in 2015 and 2016. Performance prior to waiving fees was lower than actual returns shown from 2012 through 2014.

Performance Associated with the INVESTOR Class Funds

Bridgeway Large Cap Value: A portion of fees charged to the Fund was waived in 2012 and fully recovered in 2013. Performance prior to waiving fees was lower than actual returns shown in 2012.

Global Evolution Frontier Markets Income: A portion of fees charged to the Fund was waived from Fund inception through 2015 and partially recovered in 2016 and 2017. Performance prior to waiving fees was lower than actual returns shown through 2015.

Holland Large Cap Growth: A portion of fees charged to the Fund was waived from 2002 through 2012, partially recovered in 2013, and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown from 2002 through 2012.

Ionic Strategic Arbitrage: A portion of fees charged to the Fund was waived in 2015 and partially recovered in 2016. Performance prior to waiving fees was lower than actual returns shown in 2015.

Mid-Cap Value: A portion of fees charged to the Fund was waived from 2006 through 2013 and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown from 2006 through 2013.

SiM High Yield Opportunities: A portion of fees charged to the Fund was waived in 2011 and 2012 and partially recovered in 2013 and 2016. Performance prior to waiving fees was lower than actual returns shown in 2011 and 2012.

Stephens Mid-Cap Growth: A portion of fees charged to the Fund was waived from 2006 through 2013 and partially recovered in 2014 and 2015. Performance prior to waiving fees was lower than actual returns shown from 2006 through 2013.

Stephens Small Cap Growth: A portion of fees charged to the Fund was waived from 2005 through 2013 and in 2015, and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown from 2005 through 2013 and in 2015.

The London Company Income Equity: A portion of fees charged to Fund was waived in 2012 and 2013 and partially recovered in 2014 and 2015. Performance prior to waiving fees was lower than actual returns shown in 2012 and 2013.

Performance Associated with the Y Class Funds

Balanced: A portion of fees charged to the Fund was waived in 2011, partially recovered in 2013 and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown in 2011.

Bridgeway Large Cap Value: A portion of fees charged to the Fund was waived in 2012, partially recovered in 2013 and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown in 2012.

Global Evolution Frontier Markets: A portion of fees charged to the Fund was waived from Fund inception through 2015 and partially recovered in 2016 and 2017. Performance prior to waiving fees was lower than actual returns shown through 2015.

Holland Large Cap Growth: A portion of fees charged to the Fund was waived in 2012, partially recovered in 2013, and waived in 2014 and 2015. Performance prior to waiving fees was lower than actual returns shown in 2012, 2014 and 2015.

Ionic Strategic Arbitrage: A portion of fees charged to the Fund was waived from June 30, 2015 through 2016 and was partially recovered in 2017. Performance prior to waiving fees was lower than actual returns shown in 2015 and 2016.

Mid-Cap Value: A portion of fees charged to the Fund was waived from 2010 through 2013. Performance prior to waiving fees was lower than actual returns shown from 2010 through 2013.

SiM High Yield Opportunities: A portion of fees charged to the Fund was waived from 2011 through 2013, partially recovered in 2015, and waived in 2016. Performance prior to waiving fees was lower than actual returns shown from 2011 through 2013 and in 2016.

Stephens Mid-Cap Growth: A portion of fees charged to the Fund was waived in 2012 and 2013 and partially recovered in 2014 and 2015. Performance prior to waiving fees was lower than actual returns shown in 2012 and 2013.

Stephens Small Cap Growth: A portion of fees charged to the Fund was waived in 2012 and 2013 and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown in 2012 and 2013.

The London Company Income Equity: A portion of fees charged to Fund was waived from 2012 through 2014 and partially recovered in 2015. Performance prior to waiving fees was lower than actual returns shown from 2012 through 2014.

Performance Associated with the A Class Funds

Balanced: A portion of fees charged to the Fund was waived in 2011 and 2012, partially recovered in 2013 and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown in 2011 and 2012.

Bridgeway Large Cap Value: A portion of fees charged to the Fund was waived in 2012 and 2013 and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown in 2012 and 2013.

Global Evolution Frontier Markets Income: A portion of fees charged to the Fund was waived from Fund inception through 2015 and partially recovered in 2016 and 2017. Performance prior to waiving fees was lower than actual returns shown through 2015.

Holland Large Cap Growth: A portion of fees charged to the Fund was waived from 2010 through 2014. Performance prior to waiving fees was lower than actual returns shown from 2010 through 2014.

International Equity: A portion of fees charged to the Fund was waived from 2010 through 2012 and partially recovered in 2013.  Performance prior to waiving fees was lower than actual returns shown from 2010 through 2012.

Ionic Strategic Arbitrage: A portion of fees charged to the Fund was waived from June 30, 2015 through 2016 and was partially recovered in 2017. Performance prior to waiving fees was lower than actual returns shown in 2015 and 2016.

Mid-Cap Value: A portion of fees charged to the Fund was waived from 2010 through 2012 and fully recovered in 2013. Performance prior to waiving fees was lower than actual returns shown from 2010 through 2012.

SiM High Yield Opportunities: A portion of fees charged to the Fund was waived from 2011 through 2014 and partially recovered in 2015 and 2016. Performance prior to waiving fees was lower than actual returns shown from 2011 through 2014.

Small Cap Value: A portion of fees charged to the Fund was waived in 2010, 2012, 2013 and 2014 and fully recovered in 2015. Performance prior to waiving fees was lower than actual returns shown in 2010, 2012, 2013 and 2014.

Stephens Mid-Cap Growth: A portion of fees charged to the Fund was waived in 2012 and 2013, partially recovered in 2015 and waived in 2016. Performance prior to waiving fees was lower than actual returns shown in 2012, 2013 and 2016.

Stephens Small Cap Growth: A portion of fees charged to the Fund was waived in 2012, partially recovered in 2013 and 2014, and fully recovered in 2015. Performance prior to waiving fees was lower than actual returns shown in 2012.

The London Company Income Equity: A portion of fees charged to the Fund was waived from 2012 through 2014 and partially recovered in 2015. Performance prior to waiving fees was lower than actual returns shown from 2012 through 2014.

Performance Associated with the C Class Funds

Balanced: A portion of fees charged to the Fund was waived from 2010 through 2012, partially recovered in 2013 and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown from 2010 through 2012.

Bridgeway Large Cap Value: A portion of fees charged to the Fund was waived in 2012 and 2013 and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown in 2012 and 2013.

Global Evolution Frontier Markets Income: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Holland Large Cap Growth: A portion of fees charged to the Fund has been waived since 2012. Performance prior to waiving fees was lower than actual returns shown since 2012.

International Equity: A portion of fees charged to the Fund was waived from 2010 through 2012 and partially recovered in 2013 and 2015. Performance prior to waiving fees was lower than actual returns shown from 2010 through 2012.

Ionic Strategic Arbitrage: A portion of fees charged to the Fund was waived from June 30, 2015 through 2016 and was partially recovered in 2017. Performance prior to waiving fees was lower than actual returns shown in 2015 and 2016.

Large Cap Value: A portion of fees charged to the Fund was waived from 2010 through 2012, partially recovered in 2013 and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown from 2010 through 2012.

Mid-Cap Value: A portion of fees charged to the Fund was waived from 2010 through 2013 and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown from 2010 through 2013.

SiM High Yield Opportunities: A portion of fees charged to the Fund was waived from 2011 through 2014 and partially recovered in 2015 and 2016. Performance prior to waiving fees was lower than actual returns shown from 2011 through 2014.

Small Cap Value: A portion of fees charged to the Fund was waived in 2010, 2012 and 2013 and fully recovered in 2015. Performance prior to waiving fees was lower than actual returns shown in 2010, 2012 and 2013.

Stephens Mid-Cap Growth: A portion of fees charged to the Fund was waived from 2012 through 2014 and in 2016 and was partially recovered in 2015. Performance prior to waiving fees was lower than actual returns shown from 2012 through 2014 and in 2016.

Stephens Small Cap Growth: A portion of fees charged to the Fund was waived in 2012, partially recovered in 2013 and 2014, and fully recovered in 2015. Performance prior to waiving fees was lower than actual returns shown in 2012.

The London Company Income Equity: A portion of fees charged to Fund was waived from 2012 through 2014 and partially recovered in 2015. Performance prior to waiving fees was lower than actual returns shown from 2012 through 2014.

Performance Associated with the ADVISOR Class Funds

International Equity: A portion of fees charged to the Fund was waived in 2006, 2007 and 2009. Performance prior to waiving fees was lower than actual returns shown for these periods.

Mid-Cap Value: A portion of fees charged to the Fund was waived from 2007 through 2013 and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown from 2007 through 2013.

Small Cap Value: A portion of fees charged to the Fund was waived in 2009. Performance prior to waiving fees was lower than actual returns shown in 2009.

Performance Associated with the R6 Class Funds

International Equity: A portion of fees charged to the Fund has been waived since February 28, 2017. Performance prior to waiving fees was lower than actual returns shown.

Large Cap Value: A portion of fees charged to the Fund has been waived since February 28, 2017. Performance prior to waiving fees was lower than actual returns shown.

Small Cap Value: A portion of fees charged to the Fund has been waived since February 28, 2017. Performance prior to waiving fees was lower than actual returns shown.

Performance Associated with the U.S. Government Money Market Select Fund

A portion of fees charged to the Fund has been waived, and a portion was partially recovered in 2016. Performance prior to waiving fees was lower than actual returns shown.

Performance Associated with an Inception Date within 10 Years/Since Inception

For any Class of a Fund that began operating within the ten-year/since inception period shown, the performance shown prior to the inception date of the Class is that of a class (or series of classes) previously in operation. The combined returns have not been adjusted for any difference between the fees and expenses of the Class and the historical fees and expenses of the included previous class (or classes). If the previous class(es) had lower expenses, the resulting performance would be better than the Class would have realized during the same period. If the previous class(es) had higher expenses, the resulting performance would be lower than the Class would have realized during the same period. Specific information about any Fund may be found at americanbeaconfunds.com or in the prospectus.