Performance shown is historical and is not indicative of future returns. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. 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, please call 800-967-9009 or visit www.americanbeaconfunds.com.

* Not Annualized

Maximum Sales Charge is 5.75% for the following Funds: Balanced, Bridgeway Large Cap Value, Large Cap Value, Large Cap Growth, Mid-Cap Value, Small Cap Value, International Equity, Emerging Markets, Zebra Large Cap Equity, Zebra Small Cap Equity, Stephens Mid-Cap Growth and Stephens Small Cap Growth.

Maximum Sales Charge is 4.75% for the following Funds: TIPS, High Yield Bond, Intermediate Bond, SiM High Yield Opportunities and Flexible Bond.

Maximum Sales Charge is 2.50% for the following Funds: Retirement and Appreciation Fund and Short-Term Bond Fund.

Important Information: Please note that the recent growth rate in the stock market has helped to produce short-term returns that are not typical and may not continue in the future.

Money Market Select Fund:
Performance shown prior to the 12/31/99 inception of the American Beacon Money Market Select Fund (“Select Fund”) is that of the American Beacon Money Market Fund – Institutional 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 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 2001. Performance prior to waiving fees was lower than the actual returns shown for periods through 2001.

U.S. Government Money Market Select 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 and from April 2008 to January 2010. Performance prior to waiving fees was lower than the actual returns shown for periods when waivers were in effect.

EXPENSE RATIOS ASSOCIATED WITH THE FUNDS:
^‡American Beacon Advisors has contractually agreed to waive and/or reimburse the Y and Investor Classes of the Fund for other expenses through February 28, 2014.
^±The Net Expense Ratio may reflect fees and expenses that American Beacon Advisors has contractually agreed to reduce and/or reimburse through December 31, 2013.
^∞The fees and expenses shown in the table include both the expenses of the Fund and the Fund's share of the allocated expenses of the Portfolio of State Street Master Funds.
^ΩThe Net Expense Ratio may reflect fees and expenses that American Beacon Advisors has contractually agreed to reduce and/or reimburse through February 28, 2014.
^ΦThe Net Expense Ratio may reflect fees and expenses that American Beacon Advisors has contractually agreed to reduce and/or reimburse through April 30, 2014.

RISKS ASSOCIATED WITH THE FUNDS:
Balanced, Retirement Income and Appreciation, High Yield Bond, Intermediate Bond, Short-Term Bond and Treasury Inflation Protected Securities Funds: Investing in debt securities entails interest rate risk, which is the risk that debt securities will decrease in value with increases in market interest rates. Investing in high yield securities involves additional risks when compared to investing in investment-grade securities. These include a greater risk of default or bankruptcy and an increased sensitivity to financial difficulties or changes in interest rates.

Small Cap Value, Mid-Cap Value and Small Cap Index Funds: Investing in the securities of small and mid-capitalization companies involves greater risk and the possibility of greater price volatility than investing in larger capitalization and more established companies.

International Equity, International Equity Index and Emerging Markets Funds: Investing in foreign equities entails additional risk not associated with domestic equities, such as currency fluctuations, economic and political instability, and differences in accounting standards. The risks of investing in foreign equities are heightened when investing in emerging markets.

Zebra Large Cap and Zebra Small Cap Equity Funds: An investment in the Funds is subject to risk, including the possible loss of principal. At times, certain securities may have limited marketability and may be difficult to sell. Investing in the securities of small capitalization companies involves greater risk and the possibility of greater price volatility than investing in larger capitalization and more established companies. Newly organized, actively managed Funds have no trading history, and there can be no assurance that active trading markets will be developed or maintained.

SiM High Yield Opportunities Fund: All investing involves risk including the possible loss of principal. The Fund typically invests in a diversified portfolio of domestic and foreign high-yield, high risk fixed income securities that are generally rated below investment-grade (such as BB or lower by Standard & Poor’s Ratings Services or Fitch Ratings and/or Ba or lower by Moody’s Investors Service, Inc.) or deemed to be below investment-grade by the investment sub-advisor. These types of securities are commonly referred to as “high yield” or “junk” bonds. Investing in such securities involves additional risks when compared to investing in investment-grade securities. These include a greater risk of default or bankruptcy and an increased sensitivity to financial difficulties or changes in interest rates. The principal risks of the Fund include those derived from the investment in: foreign securities, emerging market securities, derivative securities including options and futures contracts (including options and futures contracts on stock indices and currencies), forward contracts (including currency forward contracts), swap agreements and structured notes, Rule 144A securities, bank loans and senior loans and to a lesser extent equity securities including those of small and mid-capitalization companies. Please see the prospectus for a more complete discussion of the risks of investing in this Fund.

Flexible Bond Fund: Because the Fund has a flexible approach to investing, the risks of the Fund are likewise varied. The primary risks fall into one of several broad categories including high yield securities risk, credit risk, foreign investment risk, derivatives risk, interest rate risk and non-diversification risk. Investing in foreign denominated and/or domiciled securities may involve heightened risk due to currency fluctuations, economic risks and political risks, which may be enhanced in emerging markets. Mortgage and asset-backed securities may be sensitive to changes in interest rates, subject to early repayment risk, and their value may fluctuate in response to the market’s perception of issuer creditworthiness; while generally supported by some form of government or private guarantee, there is no assurance that private guarantors will meet their obligations. Income from municipal bonds may be subject to state and local taxes and at times the alternative minimum tax. Derivatives may involve certain costs and risks such as liquidity, interest rate, market, credit, management and the risk that a position could not be closed when most advantageous. Investing in derivatives could result in losing more than the amount invested. Diversification does not ensure against loss. Investing in debt securities entails interest rate risk that debt securities will decrease in value with increases in market interest rates. Bonds and bond funds with longer durations tend to be more sensitive and more volatile than securities with shorter durations; bond prices generally fall as interest rates rise. Please see the prospectus for a complete discussion of the Fund’s risks.

PERFORMANCE ASSOCIATED WITH THE INSTITUTIONAL CLASS FUNDS: A portion of the fees charged to the Large Cap Growth Fund-Institutional Class was waived from 2004 through 2008. Performance prior to waiving fees was lower than the actual returns shown for periods since 2004 through 2008. Mid-Cap Value Fund's performance shown from 6/30/04 to the 11/30/05 inception of the Institutional Class is that of the AMR Class (formerly the Institutional Class of the Fund), which had a similar expense structure and performance to the current Institutional Class. A portion of the fees charged to the Institutional Class of the Fund has been waived since 2007. Performance prior to waiving fees was lower than the actual returns shown for periods since 2007. Performance shown for Intermediate Bond and Short-Term Bond Funds reflects the Funds' receipt in December 2006 and March 2008 of class action settlement proceeds that were related to investment activity in 2002. The Funds' performance that includes these months was higher than it would have been absent receipt of the settlement proceeds. A portion of the fees charged to the High Yield Bond Fund Institutional Class was waived through 2004. Performance prior to waiving fees was lower than the actual returns shown for periods through 2004. Investing in debt securities entails interest rate risk which is the risk that debt securities will decrease in value with increases in market interest rates. A portion of the fees charged to the Treasury Inflation Protected Securities Fund Institutional Class has been waived since 2005. Performance prior to waiving fees was lower than the actual returns shown for periods since 2005.

PERFORMANCE ASSOCIATED WITH THE INVESTOR CLASS FUNDS: Mid-Cap Value Fund's performance shown prior to the 2/28/06 inception of the Investor Class is that of the AMR Class (formerly the Institutional Class of the Fund) from 6/30/04 to 11/30/05 and the Institutional Class from 11/30/05 to 2/28/06. The returns have not been adjusted for any difference between the fees and expenses of the Mid-Cap Value Fund-Investor Class and the historical fees and expenses of the AMR and Institutional Classes. Because the AMR and Institutional Classes both had lower expenses, their performance was better than the Mid-Cap Value Fund-Investor Class would have realized during the same period. A portion of the fees charged to the Investor Class of the Mid-Cap Value Fund has been waived since 2006. Performance prior to waiving fees was lower than the actual returns shown for periods since 2006. S&P 500 Index Fund's portion of the fees charged to the Investor Class of the Fund was waived through 2002. Performance prior to waiving fees was lower than the actual returns shown for periods prior to 2002. Emerging Markets Fund's performance shown prior to the 10/1/02 inception of the Investor Class is that of the Institutional Class. A portion of the fees charged to the Investor Class of the Emerging Markets Fund was waived in 2004 and 2005 and recouped in 2006. Performance prior to waiving and recouping fees was different than the actual returns shown. The returns have not been adjusted for any difference between the fees and expenses of the Investor Class of the Emerging Markets Fund and the historical fees and expenses of the Institutional Class. Because the Institutional Class had lower expenses, its performance was better than the Investor Class would have realized during the same period. A portion of the fees charged to the Short-Term Bond Fund Investor Class has been waived. Performance prior to waiving fees was lower than the actual returns shown. Performance shown for the Intermediate Bond and Short-Term Bond Funds reflects the Funds' receipt in December 2006 and March 2008 of class action settlement proceeds that were related to investment activity in 2002. The Funds' performance that includes these months was higher than it would have been absent receipt of the settlement proceeds. High Yield Bond Fund's performance shown prior to the 3/1/02 inception of the Investor Class is that of the Institutional Class. Intermediate Bond Fund's performance shown prior to the 3/2/09 inception of the Investor Class is that of the Institutional Class. A portion of the fees charged to the Intermediate Bond Fund has been waived. Performance prior to waiving fees was lower than the actual returns shown. Treasury Inflation Protected Securities Fund's performance shown prior to the 3/2/09 inception of the Investor Class is that of the Institutional Class. A portion of the fees charged to the Treasury Inflation Protected Securities Fund has been waived. Performance prior to waiving fees was lower than the actual returns shown. The returns have not been adjusted for any difference between the fees and expenses of the Investor Class of the High Yield Bond, Intermediate Bond and Treasury Inflation Protected Securities Funds and the historical fees and expenses of the Institutional Class. Because the Institutional Class had lower expenses, its performance was better than the Investor Class would have realized during the same period.

PERFORMANCE ASSOCIATED WITH THE ADVISOR CLASS FUNDS: Balanced Fund's performance shown prior to the 5/31/05 inception of the Advisor Class is that of the Investor Class. A portion of the fees charged to the Advisor Class of the Fund was waived in 2005. Performance prior to waiving fees was lower than the actual returns shown for 2005. Large Cap Value Fund's performance shown prior to the 5/31/05 inception of the Advisor Class is that of the Investor Class. A portion of the fees charged to the Advisor Class of the Fund was waived in 2005. Performance prior to waiving fees was lower than the actual returns shown for 2005. Small Cap Value Fund's performance shown prior to the 5/1/03 inception of the Advisor Class is that of the Investor Class. A portion of the fees charged to the Advisor Class of the Fund was waived through 2004. Performance prior to waiving fees was lower than the actual returns shown for periods through 2004. International Equity Fund's performance shown prior to the 5/1/03 inception of the Advisor Class is that of the Investor Class. A portion of the fees charged to the Advisor Class of the Fund has been waived. Performance prior to waiving fees was lower than the actual returns shown. Balanced, Large Cap Value, Small Cap Value and International Equity Funds' returns have not been adjusted for any difference between the fees and expenses of the Advisor Class and the historical fees and expenses of the Investor Class. Because the Investor Class had lower expenses, its performance was better than the Advisor Class would have realized during the same period. Mid-Cap Value Fund's performance shown prior to the 6/29/07 inception of the Advisor Class is that of the AMR Class (formerly the Institutional Class of the Fund) from 6/30/04 to 11/30/05, the Institutional Class from 11/30/05 to 2/28/06, and the Investor Class from 2/28/06 to 6/29/07. The returns have not been adjusted for any difference between the fees and expenses of the Advisor Class and the historical fees and expenses of the AMR, Institutional and Investor Classes. Because the AMR, Institutional and Investor Classes had lower expenses, their performance was better than the Advisor Class would have realized during the same period. A portion of the fees charged to the Advisor Class of the Fund has been waived. Performance prior to waiving fees was lower than the actual returns shown.

PERFORMANCE ASSOCIATED WITH THE RETIREMENT CLASS FUNDS: Large Cap Value Fund’s performance shown prior to the 5/1/09 inception of the Retirement Class is that of the Advisor Class from 5/31/2005 through 4/30/2009 and the Investor Class prior to 5/31/2005. The returns have not been adjusted for any difference between the fees and expenses of the Retirement Class and the historical fees and expenses of the Advisor and Investor Classes. Because the Advisor and Investor Classes had lower expenses, their performance was better than the Retirement Class would have realized during the same periods. Small Cap Value and International Equity Funds’ performance shown prior to the 5/1/09 inception of the Retirement Class is that of the Advisor Class from 5/31/2003 through 4/30/2009 and the Investor Class prior to 5/31/2003. The returns have not been adjusted for any difference between the fees and expenses of the Retirement Class and the historical fees and expenses of the Advisor and Investor Classes. Because the Advisor and Investor Classes had lower expenses, their performance was better than the Retirement Class would have realized during the same periods

PERFORMANCE ASSOCIATED WITH THE Y CLASS FUNDS: Large Cap Value, Small Cap Value and International Equity Funds’ performance shown prior to the 8/3/09 inception of the Y Class is that of the Institutional Class. The returns have not been adjusted for any difference between the fees and expenses of the Y Class and the historical fees and expenses of the Institutional Class. Because the Institutional Class had lower expenses, its performance was better than the Y Class would have realized during the same period. Balanced, Large Cap Growth and Emerging Markets Funds’ performance shown prior to the 3/1/10 inception of the Y Class is that of the Institutional Class. The returns have not been adjusted for any difference between the fees and expenses of the Y Class and the historical fees and expenses of the Institutional Class. Because the Institutional Class had lower expenses, its performance was better than the Y Class would have realized during the same period. Mid-Cap Value Fund’s performance shown prior to the 3/1/10 inception of the Y Class is that of the AMR Class (formerly the Institutional Class of the Fund) from 6/30/04 to 11/30/05 and the Institutional Class from 11/30/05 to 3/1/10. The returns have not been adjusted for any difference between the fees and expenses of the Y Class and the historical fees and expenses of the AMR and Institutional Classes. Because the AMR and Institutional Classes both had lower expenses, their performance was better than the Y Class would have realized during the same period. A portion of the fees charged to the Y Class of the Fund has been waived. Performance prior to waiving fees was lower than the actual returns shown. High Yield Bond, Intermediate Bond, Short-Term Bond and Treasury Inflation Protected Securities Funds’ performance shown prior to the 3/1/10 inception of the Y Class is that of the Institutional Class. The returns have not been adjusted for any difference between the fees and expenses of the Y Class and the historical fees and expenses of the Institutional Class. Because the Institutional Class had lower expenses, its performance was better than the Y Class would have realized during the same period. Retirement Income and Appreciation Fund’s performance shown prior to the 3/1/10 inception of the Y Class is that of the Investor Class. The returns have not been adjusted for any difference between the fees and expenses of the Y Class and the historical fees and expenses of the Investor Class. Because the Investor Class had a different expense structure, its performance was different than the Y Class would have realized in the same period.

PERFORMANCE ASSOCIATED WITH THE A CLASS FUNDS (with exception of the Large Cap Growth Fund): Performance shown prior to the 5/17/10 inception of the A Class is that of the Investor Class. The returns have not been adjusted for any difference between the fees and expenses of the A Class and the historical fees and expenses of the Institutional Class. Because the Investor Class had lower expenses, its performance was better than the A Class would have realized during the same period. Large Cap Growth Fund: Performance shown prior to the 5/17/10 inception of the A Class is that of the Institutional Class. The returns have not been adjusted for any difference between the fees and expenses of the A Class and the historical fees and expenses of the Institutional Class. Because the Institutional Class had lower expenses, its performance was better than the A Class would have realized during the same period.

PERFORMANCE ASSOCIATED WITH THE C CLASS FUNDS (with exception of the Large Cap Growth Fund): Performance shown prior to the 9/1/10 inception of the C Class is that of the Investor Class. The returns have not been adjusted for any difference between the fees and expenses of the C Class and the historical fees and expenses of the Investor Class. Because the Investor Class had lower expenses, its performance was better than the C Class would have realized during the same period. 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. Large Cap Growth Fund: Performance shown prior to the 9/1/10 inception of the C Class is that of the Institutional Class. The returns have not been adjusted for any difference between the fees and expenses of the C Class and the historical fees and expenses of the Institutional Class. Because the Institutional Class had lower expenses, its performance was better than the C Class would have realized during the same period. 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.

S&P is a trademark of The McGraw-Hill Companies, Inc. and has been licensed for use. “Standard and Poor’s®,” “S&P®,” “Standard & Poor’s 500,” “S&P 500®” and “500” are all trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by State Street Bank and Trust Company. The S&P 500 Index Fund is not sponsored, sold or promoted by Standard & Poor’s, and Standard & Poor’s makes no representation regarding the advisability of investing in this Fund.