American Beacon Advisors has turned to Pimco, Brandywine Global Investment Management and GAM International Management to sub-advise its  newest mutual fund [SEC filing]

The Fort Worth, Texas-based company launched the American Beacon Flexible Bond Fund on July 5. The product was seeded initially with $20 million, followed by an additional $7 million, said American Beacon CEO Gene Needles.

Adopting an unconstrained approach, the fund may invest in all bond sectors and a vast range of security types, such as inflation-indexed, floating rate and non-investment grade securities.

According to Needles, the fund had been in the works for about  a year and a half. The search centered around three factors. American Beacon looked for experienced managers in the space, managers with low correlation to traditional benchmarks and low correlation to each other.

American Beacon's goal, Needles said, is to deliver a flexible product with diversification.

American Beacon offers a total of 21 mutual funds. 

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