American Beacon U.S. Government Money Market Select Fund

Fund information as of September 30, 2008
Fund Overview
Total Portfolio Assets1: $383.6 Million
           
           
Inception Date 12/1/01        
Fund NAV $1.00        
CUSIP 02368W200        
Trading Symbol AAOXX        
Investment Minimum $10 Million        
1 American Beacon Master U.S. Government Money Market Portfolio
 
Investment Advisor
 
American Beacon Advisors, Inc. 100%
 
Order Deadlines2
 
Purchases - 4:00pm CT / 5:00pm ET  
Redemptions3 - 2:00pm CT / 3:00pm ET  
2 Or such other time as may be designated by the Fund
3 Orders placed by the deadline will generally be transmitted to shareholders on the same day.
 
Expense Ratio
 
           
           
Gross Expense Ratio 0.15%        
           
 
Investment Objective

A Fund seeking current income, liquidity and the maintenance of a stable $1.00 net asset value per share through investments in high-quality, short-term obligations issued by the U.S. Government, its agencies or instrumentalities.

 
Investment Style

American Beacon Advisors, Inc. utilizes a top-down approach, analyzing macroeconomic data to anticipate economic momentum shifts, inflationary trends, the shape of the yield curve, and Federal Reserve policy. American Beacon Advisors, Inc. strives to increase returns by actively managing the duration and quality of the porfolio, consistent with historical relationships among economic growth, inflation and the direction of interest rates.

The Fund invests in high-quality, U.S. dollar-denominated, short-term obligations with minimal credit risk, as determined by American Beacon Advisors, Inc. The Fund invests exclusively in obligations issued or guaranteed by the U.S. Government, its agencies, or instrumentalities, as well as in repurchase agreements collateralized by such obligations. The dollar-weighted average maturity of the Fund will not exceed 90 days.

 
U.S. Government Money Market Select Fund Total Returns as of 9/30/2008
 
 
1 Mo.		  
3 Mo.		  
YTD		  
1 YR		  
3 YR*		  
5 YR*		  
10 YR*
                           
September 2008 0.18   0.55   1.99   3.18   4.40   3.38   3.61
August 2008 0.19   0.55   1.81   3.42   4.44   3.36   3.64
July 2008 0.18   0.55   1.61   3.68   4.47   3.33   3.67
 

Performance shown is historical and may not be indicative of future returns. Investment returns 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. Click here for up-to-date yield information or call (800) 967-9009. Performance as of the most recent month end is available here.
 
Portfolio Composition (%)
 
 
Overnight U.S. Government Tri-Party Repo/MMFs 66.2
Variable Rate U.S. Government Agencies 13.0
Fixed Rate U.S. Government Agencies 20.8
 
Sector Diversification (%)
 
U.S. Government Tri-Party Repo/MMFs   66.2
U.S. Government Agencies   33.8
 
Top Holdings (Issuers)(%)
   
Federal Home Loan Bank 22.1
Federal Home Loan Mortgage Corp. 9.1
Federal National Mortgage Assoc. 2.6
 
Total Issuers: 3
 
 
American Beacon Daily US Gov't Money Market Holdings
 
11/19/2008      |     View Historical
 
Credit Quality
 
     
A-1+/P-1   100%
 
 
Portfolio Statistics
 
  7-Day
Current Yield*		 7-Day
Effective Yield*
U.S. Govt. Money Market
Select Fund 		1.85% 1.86%
 
Weighted Average Maturity   17 Days
S&P Rating   AAAm
NAIC Class 1 Approved    
     
 
* Annualized. Yield is a more accurate reflection of the Fund's current earnings than total return.
The 7-day yields refer to the income generated by an investment in the Fund over a 7-day period. This income is then annualized. The 7-day effective yield is calculated similarly, but the income earned is assumed to have been reinvested. The effective yield will be slightly higher than the current yield because of the compounding effect of this assumed reinvestment.
 
Effective Maturity Distribution

 
1 to 7 Days   66.2
8 to 30 Days   0.0
31 to 90 Days   20.8
91 to 180 Days   13.0
181 + Days   0.0

You should consider the investment objectives, risks, fees and expenses of any mutual fund carefully before investing. This and other information is available in the Fund's prospectus. Please read the prospectus carefully before investing.

* Annualized.

An investment in the American Beacon U.S. Government Money Market Select Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in this Fund.

Performance shown prior to the 12/1/01 inception of the American Beacon U.S. Government Money Market Select Fund (“Select Fund”) is that of the American Beacon U.S. Government Money Market Fund - Cash Management Class (“Beacon Fund”). The returns have not been adjusted for any difference between the fees and expenses of the Select Fund and the historical fees and expenses of the Beacon Fund. Because the Beacon Fund had moderately higher expenses, its performance was worse than the Select Fund would have realized during the same period. A portion of the fees charged to the Select Fund was waived through 2006. Performance prior to waiving fees was lower than the actual returns shown for periods through 2006.

Distributed by Foreside Fund Services, LLC.