American Beacon Advisors
, which is in the process of being sold to private equity by American Airlines' parent company, has reopened the doors to its Small Cap Value Fund
to new investors. The fund, which had AUM of $2.4 billion at the end of July, closed to new investors in February 2005.
"We have reopened the Fund to allow for new cash flows to take advantage of the many buying opportunities that present themselves in the market today," said American Beacon Advisors chairman Bill Quinn
In April, AMR Corp., which also owns American Airlines,
announced it was selling American Beacon Advisors to
, which is owned by investment funds affiliated with private equity firms Pharos Capital Group
and TPG Capital
The MFWire, April 16, 2008).
Company Press Release
FORT WORTH, TX, Sep 08, 2008 (MARKET WIRE via COMTEX) -- American Beacon Advisors, Inc. is announcing that the American Beacon Small Cap Value Fund has reopened to new investors. This change applies to all classes of the Fund. These classes include the Institutional Class (AVFIX), the PlanAhead Class(R) (AVPAX) and the Service Class (AASSX).
The Fund was closed to new investors in February 2005. As of July 31, 2008, the Fund had $2.4 billion in assets under management.
"We have reopened the Fund to allow for new cash flows to take advantage of the many buying opportunities that present themselves in the market today," said Bill Quinn, Chairman of American Beacon Advisors. "We are confident that our 'manager-of managers' strategy, below-average expense ratios and return history for the Fund will help us to attract new customers to the Fund. We will continue to monitor the Fund's asset levels to determine when further growth would no longer benefit the Fund's shareholders."
American Beacon uses a "manager-of managers" strategy for the Fund which combines the talents of multiple, leading investment advisory firms within a fund. This strategy has historically produced a diverse universe of stocks that have had above-average growth potential, while providing for a fund with less volatility. The Fund's sub-advisors are Brandywine Global Investment Management, LLC; The Boston Company Asset Management, LLC; Opus Capital Group, LLC; Barrow, Hanley, Mewhinney & Strauss, Inc.; Hotchkis and Wiley Capital Management, LLC; Dreman Value Management, LLC; and Metropolitan West Capital Management, LLC.
About American Beacon Advisors, Inc.
Established in 1986, American Beacon Advisors, Inc. is an experienced provider of investment advisory services to institutional and retail markets. American Beacon Advisors serves defined benefit plans, defined contribution plans, foundations, endowments, corporations, and other institutional investors. American Beacon Advisors also manages the American Beacon Funds, a series of low-cost, no-load mutual funds open to institutional investors, retirement accounts such as IRAs, and individual investors. The fund family currently includes a variety of portfolios spanning longer-range investments in international and domestic equity categories as well as short-term investment options including money market funds.
Armie Margaret Lee
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