American Beacon Funds
10/17/2024 | Press release | Distributed by Public on 10/17/2024 08:30
Prospectus by Investment Company - Form 497
American Beacon Large Cap Value Fund
Supplement dated October 17, 2024 to the
Prospectus and Summary Prospectus,
each dated March 1, 2024, as previously amended or supplemented
Effective December 31, 2024, Thomas P. Crowley of Massachusetts Financial Services Company ("MFS") will be added as a Portfolio Manager for the American Beacon Large Cap Value Fund (the "Fund"). In addition, effective May 1, 2026, it is expected that Nevin Chitkara of MFS will retire from his position as a Portfolio Manager for the Fund. Therefore, effective immediately, the following changes are made to the Fund's Prospectus and Summary Prospectus, as applicable:
I. On page 31 of the Prospectus and page 6 of the Summary Prospectus, under the heading "Fund Summaries - American Beacon Large Cap Value Fund - Portfolio Managers," the information regarding MFS is deleted and replaced with the following:
| Massachusetts | Katherine Cannan | Nevin Chitkara |
| Financial Services | Investment Officer and | Investment Officer and |
| Company | Portfolio Manager | Portfolio Manager |
| Since 2019 | Since 20101 | |
| Thomas P. Crowley | ||
| Investment Officer and | ||
| Portfolio Manager | ||
| Since 20242 |
1 Mr. Chitkara is expected to retire effective May 1, 2026.
2 Effective December 31, 2024.
II. On page 66 of the Prospectus, under the heading "Fund Management - The Sub-Advisors - Massachusetts Financial Services Company ("MFS"), the final sentence of the first paragraph is deleted and replaced with the following:
MFS serves as a sub-advisor to the American Beacon Large Cap Value Fund, and Nevin Chitkara, Katherine Cannan, and Thomas P. Crowley (effective December 31, 2024) co-manage MFS' Large Cap Value Equity strategy of the Fund. Mr. Chitkara is expected to retire effective May 1, 2026.
III. On page 66 of the Prospectus, under the heading "Fund Management - The Sub-Advisors - Massachusetts Financial Services Company ("MFS"), the paragraph is added after the paragraph related to Nevin Chitkara:
Thomas P. Crowley, CFA, is an investment officer and an equity research analyst at MFS Investment Management® (MFS®). He serves as the team leader for the firm's Capital Goods sector research team and is a member of the Consumer Staples team. Thomas joined MFS in 2007. Previously, he was a research analyst in the consumer discretionary and staples sector teams at Putnam Investments for seven years. He received a Bachelor of Arts degree from The College of the Holy Cross and an MBA from Dartmouth College, Tuck School of Business. Thomas also holds the Chartered Financial Analyst (CFA) designation from the CFA Institute and is an affiliate of the Boston Security Analyst's Society.
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PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
American Beacon Large Cap Value Fund
Supplement dated October 17, 2024 to the
Statement of Additional Information,
dated March 1, 2024, as previously amended or supplemented
Effective December 31, 2024, Thomas P. Crowley of Massachusetts Financial Services Company ("MFS") will be added as a Portfolio Manager for the American Beacon Large Cap Value Fund (the "Fund"). In addition, effective May 1, 2026, it is expected that Nevin Chitkara of MFS will retire from his position as a Portfolio Manager for the Fund. Therefore, effective immediately, the following changes are made to the Fund's Statement of Additional Information, as applicable:
I. On page 62, under the heading "Portfolio Managers," the table relating to MFS is deleted and replaced with the following:
| Number of Other Accounts Managed and Assets by Account Type | Number of Accounts and Assets for which Advisory Fee is Performance-Based | |||||
| Name of Investment Advisor and Portfolio Manager | Registered Investment Companies | Other Pooled Investment Vehicles | Other Accounts | Registered Investment Companies | Other Pooled Investment Vehicles | Other Accounts |
| Massachusetts Financial Services Company | ||||||
| Katherine Cannan | 10 ($63.2 bil) | 3 ($5.2 bil) | 16 ($5.7 bil) | None | None | None |
| Nevin Chitkara1 | 10 ($63.2 bil) | 3 ($5.3 bil) | 16 ($5.7 bil) | None | None | None |
| Thomas P. Crowley2 | None | None | None | None | None | None |
1 Mr. Chitkara is expected to retire effective May 1, 2026.
2 Mr. Crowley will join the portfolio management team effective December 31, 2024. Information provided as of August 31, 2024.
II. On page 69, under the heading "Portfolio Managers - Compensation - MFS," the table following the sixth paragraph is deleted and replaced with the following:
| Portfolio Manager | Benchmark(s) |
| Katherine Cannan | Russell 1000® Value Index |
| Nevin Chitkara1 | Russell 1000® Value Index |
| Thomas P. Crowley2 | Russell 1000® Value Index |
1 Mr. Chitkara is expected to retire effective May 1, 2026.
2 Mr. Crowley will join the portfolio management team effective December 31, 2024.
III. On page 71, under the heading "Portfolio Managers - Ownership of the Funds," the table relating to MFS is deleted and replaced with the following:
|
American Beacon Large Cap Value Fund |
|||
| Massachusetts Financial Services Company | |||
| Katherine Cannan | None | ||
| Nevin Chitkara1 | None | ||
| Thomas P. Crowley2 | None |
1 Mr. Chitkara is expected to retire effective May 1, 2026.
2 Mr. Crowley will join the portfolio management team effective December 31, 2024. Information provided as of August 31, 2024.
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PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE