American Beacon AHL Managed Futures Strategy Fund

American Beacon AHL Multi-Alternatives Fund

American Beacon AHL TargetRisk Fund

 

Supplement dated August 13, 2025 to the

Prospectus and Summary Prospectus,

each dated May 1, 2025

 

Effective immediately, Giuliana Bordigoni of AHL Partners LLP (“AHL”) is added as a Portfolio Manager for the American Beacon AHL Managed Futures Strategy Fund, American Beacon AHL Multi-Alternatives Fund and American Beacon AHL TargetRisk Fund (the “Funds”). In addition, effective immediately, Otto van Hemert will retire from his position as a Portfolio Manager for the Funds. Accordingly, effective immediately, the following changes are made to the Funds’ Prospectus and Summary Prospectuses, as applicable, and, all references to Mr. van Hemert in the Funds’ Prospectus and Summary Prospectuses are removed:

 

A.American Beacon AHL Managed Futures Strategy Fund

 

1.On page 9 of the Prospectus and Summary Prospectus, under the heading “Management - Portfolio Managers,” the information regarding AHL Partners LLP is deleted and replaced with the following:

 

    AHL Partners LLP

Russell Korgaonkar

Head of Systematic/Chief Investment Officer, Man AHL
Since Fund Inception (2014)

  

Giuliana Bordigoni

Director of Alpha Research, Man AHL

Since 2025

  

 

B.American Beacon AHL Multi-Alternatives Fund

 

1.On page 20 of the Prospectus and page 10 of the Summary Prospectus, under the heading “Management - Portfolio Managers,” the information regarding AHL Partners LLP is deleted and replaced with the following:

 

    AHL Partners LLP

Russell Korgaonkar

Head of Systematic/Chief Investment Officer, Man AHL

Since Fund Inception (2023)

  

Giuliana Bordigoni

Director of Alpha Research, Man AHL

Since 2025

  
             
C.American Beacon AHL TargetRisk Fund

 

1.On page 29 of the Prospectus and page 9 of the Summary Prospectus, under the heading “Management - Portfolio Managers,” the information regarding AHL Partners LLP is deleted and replaced with the following:

 

Multi-20250813

 

 

    AHL Partners LLP

Russell Korgaonkar

Head of Systematic/Chief Investment Officer, Man AHL

Since Fund Inception (2018)

  

Giuliana Bordigoni

Director of Alpha Research, Man AHL

Since 2025

  

 

D.All Funds

 

1.On page 48 of the Prospectus, under the heading “Fund Management - The Sub-Advisor,” the third and fourth paragraphs are deleted and replaced with the following:

 

Russell Korgaonkar is Head of Systematic and Chief Investment Officer of Man AHL, with overall responsibility for investment and research. He is also a member of Man AHL’s management and investment committees, a member of the firm’s Systematic Steering Committee and a member of the Man Group executive committee. He was previously Director of Investment Strategies of Man AHL, responsible for Man AHL’s Liquid Strategies unit, which creates and runs scalable systematic strategies, as well as the Institutional Solutions business. Mr. Korgaonkar joined the firm in 2001 as a researcher and later portfolio manager focused on systematic cash equity strategies, before becoming Head of Portfolio Management in 2011. Mr. Korgaonkar holds a BA/MA (First Class) in Physics from the University of Oxford.

 

Giuliana Bordigoni is Director of Alpha Research and a member of Man AHL’s management and investment committees. She is also a member of the firm’s Systematic Steering Committee. She has held several positions since joining Man AHL in 2007, including Head of Alternative Markets and Director of Fixed Income, where she has made significant contributions to Man AHL’s managed futures and Evolution portfolios. Ms. Bordigoni holds a PhD in Mathematics and Applications from Politecnico of Milan and a Master of Advanced studies in Finance from ETH and University of Zurich.

 

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PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE

 

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American Beacon AHL Managed Futures Strategy Fund

American Beacon AHL Multi-Alternatives Fund

American Beacon AHL TargetRisk Fund

 

Supplement dated August 13, 2025

to the Statement of Additional Information dated May 1, 2025

 

Effective immediately, Giuliana Bordigoni of AHL Partners LLP (“AHL”) is added as a Portfolio Manager for the American Beacon AHL Managed Futures Strategy Fund, American Beacon AHL Multi-Alternatives Fund and American Beacon AHL TargetRisk Fund (the “Funds”). In addition, effective immediately, Otto van Hemert will retire from his position as a Portfolio Manager for the Funds. Accordingly, effective immediately, the following changes are made to the Funds’ Statement of Additional Information, as applicable, and, all references to Mr. van Hemert in the Funds’ Statement of Additional Information are removed:

 

A.On page 44, under the heading “Portfolio Managers,” the table relating to AHL Partners LLP is deleted and replaced with the following:

 

  Number of Other Accounts Managed and Assets by Account Type Number of Accounts and Assets for which Advisory Fee is Performance-Based
Name of Investment Advisor and Portfolio Manager Registered Investment Companies Other Pooled Investment Vehicles Other Accounts Registered Investment Companies Other Pooled Investment Vehicles Other Accounts
           
Russell Korgaonkar 4 ($3.5 bil) 33 ($13.1 bil) 21 ($16.5 bil) None 17 ($6.6 bil) 15 ($13.6 bil)
Giuliana Bordigoni* None 6 ($8.9 bil) 1 ($538 mil) None 5 ($8.5 bil) None

*As of June 30, 2025.

 

B.On page 45, under the heading “Portfolio Managers - Ownership of the Funds,” the table relating to AHL Partners LLP is deleted and replaced with the following:

 

 

 

American Beacon

AHL Managed Futures

Strategy Fund

American Beacon

AHL Multi-Alternatives Fund

 

American Beacon AHL TargetRisk Fund

       
Russell Korgaonkar None None None
Giuliana Bordigoni* None None None
           

*As of June 30, 2025.

 

 

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PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE

 

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