Morningstar Advisor - Spring 2007 - Cover2

Discover American Beacon Funds American Beacon’s Strengths: Strong Focus Our People Low Cost Value Approach American Beacon’s value approach to equities and disciplined investment philosophy seek to produce superior results over the long-term. Our people, our culture and our strong due diligence process allow us to monitor our sub-advisors’ performance and to ensure their strict adherence to each Fund’s investment style and guidelines. Our Funds’ large asset base and efficient operational structure make it possible for us to deliver quality Funds with below-average expense ratios. For our equity value Funds, our time-tested, consistent investment strategy seeks to produce a diverse universe of stocks that have above-average growth potential, yet sell below their perceived economic value. With decades of combined investment experience, American Beacon Advisors has the expertise to develop a targeted investment program for each Fund and to select and monitor the Funds’ sub-advisors effectively. Experience What makes American Beacon different? Manager of Managers American Beacon Advisors integrates several of the nation’s most highly respected asset management firms within many of the American Beacon Funds. This helps to minimize portfolio volatility within these multi-managed funds. We invest for the individual client as we would for ourselves. Since employee benefit plans of AMR Corporation, our parent company, invest in our Funds, we have a personal interest in the success of our Funds. As investment advisor to a large plan sponsor, we are highly sensitive and empathetic to the needs and concerns of investment professionals and plan sponsors. Vested Interest Perspective www.americanbeaconfunds.com 1-800-967-9009 You should consider the investment objectives, risks, fees and expenses of any mutual fund carefully before investing. This and Distributed by Foreside Fund Services, LLC. © 2007 American Beacon Advisors, Inc. All rights reserved. other information is available in each Fund’s prospectus, which you may obtain at www.americanbeaconfunds.com or by calling 1-800-967-9009. Please read the prospectus carefully before investing.
http://www.americanbeaconfunds.com http://www.americanbeaconfunds.com http://www.americanbeaconfunds.com

Morningstar Advisor - Spring 2007

Table of Contents for the Digital Edition of Morningstar Advisor - Spring 2007

Morningstar Advisor Spring 2007
Features
Departments
Letter from Joe Mansueto
Get to Know Morningstar’s Fund Managers of the Year
Is Your Client a Stock or a Bond?
Less Alpha, More Beta Than Meets the Eye
Your Mileage May Vary
A Clear-Eyed Look at Hedge Funds
Lower Risk, Higher Returns, What’s Not to Like?
Without Cash and Clout, Advisors and Clients Get Short End of Stick
Get the Strategy Minus the Headaches
Analyzing Funds of Hedge Funds
Not All Hedge Funds Are Created Equal
A Fund with a (Long) View
Laying Low and Prospering
A Menu of Ideas to Fill Five Market Baskets
Oil and Gas Gushing with Values
Mutual Fund Analyst Picks
Undervalued Stocks
Most Popular Variable Annuities
What’s New at Morningstar and on the Web
You Can’t Always Get What You Want
Morningstar Advisor - Spring 2007 - Cover 1
Morningstar Advisor - Spring 2007 - Cover2
Morningstar Advisor - Spring 2007 - Features
Morningstar Advisor - Spring 2007 - Departments
Morningstar Advisor - Spring 2007 - 3
Morningstar Advisor - Spring 2007 - 4
Morningstar Advisor - Spring 2007 - Letter from Joe Mansueto
Morningstar Advisor - Spring 2007 - 6
Morningstar Advisor - Spring 2007 - 7
Morningstar Advisor - Spring 2007 - Get to Know Morningstar’s Fund Managers of the Year
Morningstar Advisor - Spring 2007 - 9
Morningstar Advisor - Spring 2007 - 10
Morningstar Advisor - Spring 2007 - 11
Morningstar Advisor - Spring 2007 - Is Your Client a Stock or a Bond?
Morningstar Advisor - Spring 2007 - 13
Morningstar Advisor - Spring 2007 - 14
Morningstar Advisor - Spring 2007 - 15
Morningstar Advisor - Spring 2007 - Less Alpha, More Beta Than Meets the Eye
Morningstar Advisor - Spring 2007 - 17
Morningstar Advisor - Spring 2007 - Your Mileage May Vary
Morningstar Advisor - Spring 2007 - 19
Morningstar Advisor - Spring 2007 - A Clear-Eyed Look at Hedge Funds
Morningstar Advisor - Spring 2007 - 21
Morningstar Advisor - Spring 2007 - Lower Risk, Higher Returns, What’s Not to Like?
Morningstar Advisor - Spring 2007 - 23
Morningstar Advisor - Spring 2007 - Without Cash and Clout, Advisors and Clients Get Short End of Stick
Morningstar Advisor - Spring 2007 - 25
Morningstar Advisor - Spring 2007 - 26
Morningstar Advisor - Spring 2007 - 27
Morningstar Advisor - Spring 2007 - Get the Strategy Minus the Headaches
Morningstar Advisor - Spring 2007 - 29
Morningstar Advisor - Spring 2007 - 30
Morningstar Advisor - Spring 2007 - 31
Morningstar Advisor - Spring 2007 - 32
Morningstar Advisor - Spring 2007 - Analyzing Funds of Hedge Funds
Morningstar Advisor - Spring 2007 - 34
Morningstar Advisor - Spring 2007 - 35
Morningstar Advisor - Spring 2007 - 36
Morningstar Advisor - Spring 2007 - 37
Morningstar Advisor - Spring 2007 - Not All Hedge Funds Are Created Equal
Morningstar Advisor - Spring 2007 - 39
Morningstar Advisor - Spring 2007 - 40
Morningstar Advisor - Spring 2007 - A Fund with a (Long) View
Morningstar Advisor - Spring 2007 - 42
Morningstar Advisor - Spring 2007 - 43
Morningstar Advisor - Spring 2007 - 44
Morningstar Advisor - Spring 2007 - 45
Morningstar Advisor - Spring 2007 - Laying Low and Prospering
Morningstar Advisor - Spring 2007 - 47
Morningstar Advisor - Spring 2007 - 48
Morningstar Advisor - Spring 2007 - 49
Morningstar Advisor - Spring 2007 - A Menu of Ideas to Fill Five Market Baskets
Morningstar Advisor - Spring 2007 - 51
Morningstar Advisor - Spring 2007 - 52
Morningstar Advisor - Spring 2007 - 53
Morningstar Advisor - Spring 2007 - 54
Morningstar Advisor - Spring 2007 - 55
Morningstar Advisor - Spring 2007 - 56
Morningstar Advisor - Spring 2007 - Oil and Gas Gushing with Values
Morningstar Advisor - Spring 2007 - 58
Morningstar Advisor - Spring 2007 - 59
Morningstar Advisor - Spring 2007 - 60
Morningstar Advisor - Spring 2007 - 61
Morningstar Advisor - Spring 2007 - Mutual Fund Analyst Picks
Morningstar Advisor - Spring 2007 - 63
Morningstar Advisor - Spring 2007 - 64
Morningstar Advisor - Spring 2007 - 65
Morningstar Advisor - Spring 2007 - Undervalued Stocks
Morningstar Advisor - Spring 2007 - 67
Morningstar Advisor - Spring 2007 - Most Popular Variable Annuities
Morningstar Advisor - Spring 2007 - 69
Morningstar Advisor - Spring 2007 - What’s New at Morningstar and on the Web
Morningstar Advisor - Spring 2007 - 71
Morningstar Advisor - Spring 2007 - 72
Morningstar Advisor - Spring 2007 - 73
Morningstar Advisor - Spring 2007 - 74
Morningstar Advisor - Spring 2007 - 75
Morningstar Advisor - Spring 2007 - You Can’t Always Get What You Want
Morningstar Advisor - Spring 2007 - Cover3
Morningstar Advisor - Spring 2007 - Cover4
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