American Beacon Crescent Short Duration High Income Fund to launch

By Toni Weeks

San Luis Obispo, Calif., July 8 – American Beacon Funds announced in an N-1A filing with the Securities and Exchange Commission its plans to launch the American Beacon Crescent Short Duration High Income Fund.

The fund will seek to provide high current income with capital appreciation as a secondary objective by primarily investing in high-yield fixed-income securities and bank loans that are rated below investment grade.

John A. Fekete, Jonathan R. Insull, Conrad E. Chen and Wayne Hosang will be the portfolio managers.

The fund will launch with class A, class C, class Y, institutional class and investor class shares. The ticker symbols have not been set.

Shareholder fees will consist of a 2.5% maximum sales charge on class A shares and a maximum deferred sales charge of 0.5% on class A shares and 1% on class C shares.

Including management fees of 0.45% and taking into account the effects of a fee waiver agreement with the investment adviser, total annual fund operating expenses are expected to be 1.26% for class A shares, 2.01% for class C shares, 0.96% for class Y shares, 0.86% for institutional class shares and 1.24% for investor class shares.

Fort Worth-based American Beacon Advisors, Inc. will be the investment manager, with Crescent Capital as sub-adviser.

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