American Beacon U.S Government Money Market Fund

Fund information as of December 31, 2008
Fund Overview
Total Portfolio Assets1: $383.6 Million
  Cash
Management Class		   Investor Class    
           
Inception Date 3/2/92   8/1/94    
Fund NAV $1.00   $1.00    
CUSIP 02368A802   02368A760    
Trading Symbol AAUXX   AUPXX    
 
1 American Beacon Master U.S. Government Money Market Portfolio
 
Fund Classes
 
Cash Management Class shares are offered to institutional investors, including: agents or fiduciaries acting on behalf of their clients, endowment funds and charitable foundations, employee welfare plans, qualified pension and profit sharing plans, corporations, and other investors who meet the initial investment requirements.
Investor Class shares are offered to individual investors, retirement accounts, plan sponsors, discount brokers or other organizations.
 
Investment Advisor
 
American Beacon Advisors, Inc. 100%
 
Order Deadlines2
 
Purchases - 4:00pm CT / 5:00pm ET  
Redemptions3 - 4:00pm CT / 5:00pm ET  
2 Or such other time as may be designated by the Fund
3 Orders placed by the deadline will generally be transmitted to shareholders on the same day.
 
Expense Ratios
 
  Cash
Management Class		   Investor Class    
           
Gross Expense Ratio 0.60%   1.20%    
Net Expense Ratio1 0.15%   0.65%    
           
1The net expense ratio is net of expense reimbursements that American Beacon Advisors has contractually agreed to maintain through February 28, 2009.
 
Investment Objective

A Fund seeking current income, liquidity and the maintenance of a stable $1.00 net asset value per share through investments in high-quality, short-term obligations issued by the U.S. Government, its agencies or instrumentalities.

 
Investment Style

American Beacon Advisors, Inc. utilizes a top-down approach, analyzing macroeconomic data to anticipate economic momentum shifts, inflationary trends, the shape of the yield curve, and Federal Reserve policy. American Beacon Advisors, Inc. strives to increase returns by actively managing the duration and quality of the portfolio, consistent with historical relationships among economic growth, inflation and the direction of interest rates.

The Fund invests in high-quality, U.S. dollar-denominated, short-term obligations with minimal credit risk, as determined by American Beacon Advisors, Inc. The Fund invests exclusively in obligations issued or guaranteed by the U.S. Government, its agencies, or instrumentalities, as well as in repurchase agreements collateralized by such obligations. The dollar-weighted average maturity of the Fund will not exceed 90 days.

 
U.S. Government Money Market Fund Total Returns
 
 
1 Mo.		  
3. Mo		  
YTD		  
1 YR		  
3 YR*		  
5 YR*		  
10 YR*		   Since Inception*
                               
Cash Management Class 0.10   0.32   2.29   2.29   4.12   3.34   3.48   3.95
Investor Class 0.12   0.31   1.40   1.90   3.68   2.91   3.08   3.62
                               
Lipper Index** 0.06   0.28   2.10   2.10   3.87   3.09   326   3.83
 

Performance shown is historical and may not be indicative of future returns. Investment returns 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. Click here for up-to-date yield information or call (800) 967-9009. Performance as of the most recent month end is available here.
 
Portfolio Composition (%)
 
 
Overnight U.S. Government Tri-Party Repo/MMFs 59.1%
Variable Rate U.S. Government Agencies 40.9%
Fixed Rate U.S. Government Agencies 0.0%
 
Sector Diversification (%)
 
U.S. Government Tri-Party Repo/MMFs   59.1%
U.S. Government Agencies   40.9%
 
Top Holdings (Issuers)(%)
   
Federal Home Loan Mortgage Corp. 19.0%
Federal Home Loan Bank 12.7%
Federal National Mortgage Assoc. 9.3%
 
Total Issuers: 3
 
 
American Beacon Daily US Gov't Money Market Holdings
 
Data Unavailable      |     View Historical
 
Credit Quality
 
A-1+/P-1   100%
 
 
Portfolio Statistics
 
  7-Day
Current Yield*		 7-Day
Effective Yield*
     
Cash Management Class 0.67% 0.67%
Investor Class 1.00% 1.00%
 
Weighted Average Maturity   38 Days
S&P Rating   AAAm
NAIC Class 1 Approved    
     
 
* Annualized. Yield is a more accurate reflection of the Fund's current earnings than total return.
The 7-day yields refer to the income generated by an investment in the Fund over a 7-day period. This income is then annualized. The 7-day effective yield is calculated similarly, but the income earned is assumed to have been reinvested. The effective yield will be slightly higher than the current yield because of the compounding effect of this assumed reinvestment .
 
Effective Maturity Distribution

 
1 to 7 Days   59.1%
8 to 30 Days   12.7%
31 to 90 Days   9.7%
91 to 180 Days   13.5%
181 + Days   5.0%

You should consider the investment objectives, risks, fees and expenses of any mutual fund carefully before investing. This and other information is available in the Fund's prospectus. Please read the prospectus carefully before investing.

* Annualized.
** The Lipper Institutional U.S. Government Money Market Funds Average is calculated by taking an arithmetic average of the returns of the mutual funds in the Lipper Institutional U.S. Government Money Market Funds category. Lipper is an independent mutual fund research and ranking service.

An investment in the American Beacon U.S. Government Money Market Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in this Fund.

A portion of the fees charged to the Investor Class of the Fund has been waived since 2003. Performance prior to waiving fees for the Investor Class was lower than the actual returns shown for periods since 2003. A portion of the fees charged to the Cash Management Class of the Fund has been waived since 2002. Performance prior to waiving fees for the Cash Management Class was lower than the actual returns shown for periods since 2002. Investor Class is a registered service mark of American Beacon Advisors, Inc.

Distributed by Foreside Fund Services, LLC.