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.

¹American Beacon Advisors has contractually agreed to waive and/or reimburse the A Class, C Class, Institutional Class, Y Class and Investor Class of the Fund for distribution fees and other expenses, as applicable, through December 31, 2012.

Important Information: All investing involves risk including the possible loss of principal.

There is no guarantee that the investment objectives will be met. Indices are unmanaged and one cannot invest directly in an index. Maximum Sales Charge (4.75%) is the maximum front-end sales charge (load) imposed on purchases (as a % of offering price). Class C shares may be subject to a contingent deferred sales charge of up to 1% on certain redemptions made within 12 months of purchase. Performance presented at NAV, which does not include these sales charges, would be lower if these charges were reflected.

*Not Annualized.

The Lipper High Current Yield Bond Funds Index tracks the results of the 30 largest mutual funds in the Lipper High Current Yield Bond Funds category. Lipper is an independent mutual fund research and ranking service.

The Merrill Lynch/Bank of America High Yield Master II Index tracks the performance of U.S. dollar denominated below investment-grade corporate debt publicly issued in the U.S. domestic market. Qualifying securities must have a below investment-grade rating and an investment-grade rated country of risk. In addition, qualifying securities must have at least one year remaining term to final maturity, a fixed coupon schedule and a minimum amount outstanding of $100 million. Defaulted securities and securities eligible for the dividends-received deduction are excluded from the Index.

Duration is a measure of price sensitivity relative to changes in interest rates. The four highest Moody’s ratings for long term obligations (or issuers thereof) are Aaa, Aa, A and Baa. Obligations rated Aaa are judged to be of the highest quality, with minimal credit risk. Obligations rated Aa are judged to be of high quality and are subject to very low credit risk. Obligations rated A are considered upper-medium grade and are subject to low credit risk. Obligations rated Baa are subject to moderate credit risk. They are considered medium-grade and as such may possess certain speculative characteristics. Following in order of decreasing credit ratings are Ba, B, Caa, Ca and C.

American Beacon Funds and American Beacon SiM High Yield Opportunities Fund are service marks of American Beacon Advisors, Inc.