American Beacon Adds to Fund Lineup With American Beacon Sound Point Floating Rate Income Fund
Irving, TX (PRWEB) December 14, 2015 -- American Beacon Advisors, Inc. (“American Beacon”), an experienced provider of investment advisory services to institutional and retail markets, launched the American Beacon Sound Point Floating Rate Income Fund (Institutional Class: SPFLX, A Class: SOUAX) today.
The Fund is the first mutual fund reorganized into the American Beacon Funds family from Sound Point Capital Management, LP (“Sound Point”). The bank loan strategy used by the Fund was first launched by Sound Point on December 3, 2012. For the one-year period ending November 30, 2015, the Fund was in the first percentile for total return in the U.S. open-end bank loan category among 250 bank loan funds as published by Morningstar.
“We are thrilled to bring a product with an established track record of outperformance to our clients,” Gene L. Needles, Jr., president and chief executive officer of American Beacon, said. “We are believers in the value that active management offers to investors, and the results that Steve Ketchum and his team have achieved at Sound Point are a testament to that value.”
The Fund seeks to provide a high level of current income consistent with strong risk-adjusted returns using an in-depth, bottom-up, fundamental approach with the goal of minimizing credit and default risks. The Fund strives to achieve its objectives by identifying fundamentally attractive senior-secured first and second lien floating rate loans and other floating rate debt securities.
“We see this as a perfect marriage between two excellent firms with distinct skill sets,” Stephen Ketchum, co-founder and managing partner of New York-based Sound Point, said. “We’re experts in managing corporate credit investments, but don’t maintain a large retail distribution network. American Beacon, on the other hand, has built a spectacular wholesale distribution network. So, when we think about those aspects as the basis for a business partnership, they couldn’t be more complementary.”
About American Beacon Advisors
Established in 1986, American Beacon 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, as well as retail clients. The firm also provides corporate cash management and fixed-income separate account management.
American Beacon manages the American Beacon Funds, a series of competitively priced mutual funds. The Funds employ a “manager of managers” investment style and currently include international and domestic equity, fixed-income and money market funds. As of September 30, 2015, American Beacon Advisors had $56.1 billion in assets under management. For more information, go to http://www.americanbeaconfunds.com or follow on Twitter via @AmBeacon.
About Sound Point
Sound Point Capital Management, LP, is a credit-oriented alternative asset manager established in 2008 by Stephen Ketchum. Sound Point is the investment advisor for numerous limited partnerships, collateralized loan obligations and separate accounts managed on behalf of institutions, pensions, foundations, insurance companies, wealth management firms, family offices and high net worth individuals. As of September 30, 2015, Sound Point managed approximately $7.1 billion in total assets under management.
You should consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. The prospectus and summary prospectus contain this and additional information regarding the Fund. To obtain a prospectus or summary prospectus, please contact your financial advisor, call 800.967.9009 or visit americanbeaconfunds.com. The prospectus and summary prospectus should be read carefully before investing.
The Fund’s investments in high yield securities, including loans, restricted securities and floating rate securities are subject to greater levels of credit, interest rate, market and limited marketability risks than investment-grade securities. In addition, loans are subject to the risk that the Fund may not be able to obtain the collateral securing the loan in a timely manner, and the value of the collateral may not cover the amount owed on the loan. Please see the prospectus for a complete discussion of the Fund’s risks. There can be no assurances that the investment objectives of this Fund will be met.
Important Information: All investing involves risk, including possible loss of principal.
©2015 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
American Beacon is a registered service mark of American Beacon Advisors, Inc.
American Beacon Funds and American Beacon Sound Point Floating Rate Income Fund are service marks of American Beacon Advisors, Inc.
Distributed by Foreside Fund Services, LLC.
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Stephen Graddy, American Beacon Advisors, http://www.americanbeaconfunds.com/news/MediaContact.aspx, +1 (817) 391-6177, [email protected]
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