American Beacon

American Beacon CONTINUOUS CAPITAL EMERGING MARKETS Fund

Portfolio information as of December 17, 2018

Summary

Investment Objective

The Fund's investment objective is long-term capital appreciation.

DISCOVERING PATHWAYS TO VALUE

Continuous Capital, LLC specializes in value-equity strategies for international and emerging markets. The firm pursues alpha through security selection rather than country or sector allocation. Accordingly, the firm seeks to diversify the Fund across countries, sectors, industries and companies. Continuous Capital’s well-defined and repeatable investment process is designed to produce a consistent return profile and focuses time and attention on investment opportunities at the intersection of Value + Quality + Dividends. Continuous Capital was launched as an affiliate of Resolute Investment Managers in April 2018.

Firm inception: 2018

Portfolio manager:

Morley Campbell, CFA, president and chief investment officer; industry since 2003

INVESTMENT PHILOSOPHY

Continuous Capital’s investment philosophy is grounded in academic research and based upon four key beliefs:

Value + Quality Outperforms: Academic research indicates that high quality companies have historically outperformed if purchased at the right price.
Dividends Dampen Volatility: Dividends and share repurchases help dampen volatility and provide downside protection.
Security Analysis Adds Alpha: Data-driven security analysis helps identify companies in which desirable characteristics and factors are likely to persist.
Diversification Reduces Risk: Diversification across multiple dimensions – countries, sectors, industries, companies – helps minimize uncompensated risks to potentially achieve more consistent results for investors.

These principles work together toward the desired goal of creating a top-performing portfolio of high-quality companies with consistent value and income characteristics.

Total Fund Assets

$2.8 Million

Sub-Advisor (%)

Continuous Capital, LLC

100%

FUND overview flyer*

At the Intersection of
Value + Quality + Dividends

*For investment professional use only. Login required.

Symbols and NAVs

Class	Symbol	NAV*
Institutional	CCEIX	10.49
Investor	CCEPX	10.49
Y	CCEYX	10.49

*NAV values as of: 1/23/2019
Historical NAVs are viewable from the Daily NAVs page.

Important Information: Investing in foreign and emerging market securities may involve heightened risk due to currency fluctuations and economic and political risks. The Fund may have high portfolio turnover, which could increase the Fund’s transaction costs and possibly have a negative impact on performance. The Fund participates in a securities lending program. Please see the prospectus for a complete discussion of the Fund’s risks. There can be no assurances that the investment objectives of this Fund will be met.

For a prospectus containing more information, including expenses, click here. Read it carefully before you invest or send money. Past performance is no guarantee of future results.

American Beacon is a registered service mark of American Beacon Advisors, Inc. American Beacon Funds and American Beacon Continuous Capital Emerging Markets Fund are service marks of American Beacon Advisors, Inc.

Expense Ratios

SEC 30-Day Yield

Performance shown is historical and is not indicative of future returns. Investment returns and principal value will vary, and shares may be worth more or less at redemption than at original purchase. 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, click here.

Net asset value (NAV) is the value of one share of the portfolio excluding any sales charges.
*Annualized. See the performance notes on the next page for more information.

¹The net expense ratio may reflect fees and expenses that American Beacon Advisors has contractually agreed to reduce and/or reimburse through December 31, 2017.

Important Information: All investing involves risk, including possible loss of principal. Indexes are unmanaged and one cannot invest directly in an index.

For any Class of the Fund that began operating within the 10-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. A portion of fees charged to the Institutional Class of the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception. A portion of fees charged to the Investor and Y Classes of the Fund was waived from Fund inception through 2016 and partially recovered in 2017. Performance prior to waiving fees was lower than actual returns shown since inception.

The Credit Suisse Leveraged Loan Index is an index designed to mirror the investable universe of the U.S. dollar-denominated leveraged loan market.

American Beacon Funds and American Beacon Sound Point Floating Rate Income Fund are service marks of American Beacon Advisors, Inc.

Sector Weightings (%)

Excludes Cash. May not equal 100% due to rounding.

Portfolio Statistics

Average Loan Price

$99.5

Top 10 Holdings (%)

Total Number of Issuers:

263

MATURITY DISTRIBUTION (%)

Excludes cash. May not equal 100% due to rounding.

Duration is a measure of price sensitivity relative to changes in interest rates.

S&P credit ratings for long-term obligations (or issuers thereof) are AAA, AA, A, BBB, BB, B, CCC, CC, C and D in decreasing order. For example, obligations rated AAA are judged to be of the highest quality, BBB to be of medium grade, CCC are judged to be speculative and obligations rated D are in default. Obligations rated in one of the four highest categories are considered to be investment grade while all other ratings are considered non-investment grade.

This may contain information obtained from third parties, including ratings from credit ratings agencies such as Standard & Poor's. Reproduction and distribution of third-party content in any form is prohibited except with the prior written permission of the related third party. Third-party content providers do not guarantee the accuracy, completeness, timeliness or availability of any information, including ratings, and are not responsible for any errors or omissions (negligent or otherwise), regardless of the cause, or for the results obtained from the use of such content. THIRD-PARTY CONTENT PROVIDERS GIVE NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. THIRD-PARTY CONTENT PROVIDERS SHALL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, EXEMPLARY, COMPENSATORY, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES, COSTS, EXPENSES, LEGAL FEES OR LOSSES (INCLUDING LOST INCOME OR PROFITS AND OPPORTUNITY COSTS OR LOSSES CAUSED BY NEGLIGENCE) IN CONNECTION WITH ANY USE OF THEIR CONTENT, INCLUDING RATINGS. Credit ratings are statements of opinions and are not statements of fact or recommendations to purchase, hold or sell securities. They do not address the suitability of securities or the suitability of securities for investment purposes and should not be relied on as investment advice.

American Beacon Funds and American Beacon Sound Point Floating Rate Income Fund are service marks of American Beacon Advisors, Inc.

American Beacon CONTINUOUS CAPITAL EMERGING MARKETS Fund

Portfolio information as of December 17, 2018

Investment Objective

DISCOVERING PATHWAYS TO VALUE

INVESTMENT PHILOSOPHY

Total Fund Assets

Sub-Advisor (%)

FUND overview flyer*

Symbols and NAVs

QUICK LINKs

Expense Ratios

SEC 30-Day Yield

Sector Weightings (%)

Portfolio Statistics

Top 10 Holdings (%)

MATURITY DISTRIBUTION (%)

Asset Allocation (%)

Credit Quality (%)

American Beacon CONTINUOUS CAPITAL EMERGING MARKETS Fund

Portfolio information as of December 17, 2018

Investment Objective

DISCOVERING PATHWAYS TO VALUE

INVESTMENT PHILOSOPHY

Total Fund Assets

Sub-Advisor (%)

FUND overview flyer*

Symbols and NAVs

QUICK LINKs

Expense Ratios

SEC 30-Day Yield

Sector Weightings (%)

Portfolio Statistics

Top 10 Holdings (%)

MATURITY DISTRIBUTION (%)

Asset Allocation (%)

Credit Quality (%)

MY ACCOUNT