American Beacon plans American Beacon London Co. Income Equity Fund

By Toni Weeks

San Diego, March 15 - American Beacon Funds announced in an N-1A filing with the Securities and Exchange Commission its plans to offer a new fund, the American Beacon London Co. Income Equity Fund.

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

The fund's investment objective is current income and long-term capital appreciation. The fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity and equity-related investments. It may also invest up to 20% of its net assets in fixed-income instruments that are rated investment grade at the time of purchase.

The portfolio managers under Fort Worth-based American Beacon Advisors, Inc, the fund's investment adviser, will be Gene L. Needles Jr., Wyatt L. Crumpler and Kirk L. Brown. Those under the London Co., the fund's subadviser, are Stephen M. Goddard, Jonathan T. Moody, J. Wade Stinnette Jr., J. Brian Campbell, Mark E. DeVaul and Thomas E. Megson.

Shareholder fees will include a maximum sales charge of 5.75% for class A shares and a 1% maximum deferred sales charge for class C shares.

Management fees will be 0.5% for each share class. Including other fees and expenses and a fee waiver agreement with the adviser, the total annual fund operating expenses will be limited to 1.29% for class A shares, 2.04% for class C shares, 0.89% for class Y shares, 0.79% for institutional class shares and 1.17% for investor class shares.

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