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ABMAX American Beacon Mid-Cap Value A

  • Fund
  • ABMAX
  • Price as of: Apr 18, 2019
  • $15.02
  • + $0.01
  • + 0.07%
  • Category
  • Mid Cap Value Equities

ABMAX - Profile

Vitals

  • YTD Return 18.4%
  • 3 Yr Annualized Return 7.3%
  • 5 Yr Annualized Return 4.7%
  • Net Assets $572 M
  • Holdings in Top 10 17.9%

52 WEEK LOW AND HIGH

$15.02
$12.00
$17.08

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.25%

SALES FEES

  • Front Load 5.75%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 34.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

$2,500

Investment Themes

CATEGORY

Mid Cap Value Equities
  • Fund Type Open End Mutual Fund
  • Investment Style Mid-Cap Value

Distributions

  • YTD Total Return 18.4%
  • 3 Yr Annualized Total Return 5.2%
  • 5 Yr Annualized Total Return 3.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.78%
DIVIDENDS
  • Dividend Yield 0.1%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name American Beacon Mid-Cap Value Fund
  • Fund Family Name American Beacon
  • Inception Date May 17, 2010
  • Shares Outstanding N/A
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager James P. Barrow

Fund Description

Under normal circumstances, at least 80% of the fund's net assets (plus the amount of any borrowings for investment purposes) are invested in equity securities of middle market capitalization U.S. companies. These companies have market capitalizations within the market capitalization range of the companies in the Russell Midcap® Index at the time of investment.

ABMAX - Performance

Return Ranking - Trailing

Period ABMAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 18.4% -31.3% 24.2% 21.14% 2
1 Yr -5.2% -33.1% 33.5% 88.15% 5
3 Yr 7.3% * -9.7% 15.5% 74.94% 4
5 Yr 4.7% * -6.2% 16.0% 75.52% 4
10 Yr 14.9% * 0.8% 19.3% 38.74% 2

* Annualized


Return Ranking - Calendar

Period ABMAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 -25.6% -92.8% 17.4% 75.79% 4
2017 13.9% -23.0% 26.2% 9.49% 1
2016 16.0% -18.5% 36.2% 30.31% 2
2015 -10.0% -30.9% 35.1% 47.40% 3
2014 4.4% -18.7% 36.6% 35.49% 2

Total Return Ranking - Trailing

Period ABMAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 18.4% -100.0% 24.2% 21.58% 2
1 Yr -10.7% -28.1% 97.8% 95.73% 5
3 Yr 5.2% * -7.6% 15.5% 87.59% 5
5 Yr 3.5% * -6.2% 22.4% 90.98% 5
10 Yr 14.3% * 0.8% 19.3% 50.15% 3

* Annualized


Total Return Ranking - Calendar

Period ABMAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 -25.6% -92.8% 20.9% 76.04% 4
2017 13.9% -16.5% 26.2% 9.74% 1
2016 16.0% -18.3% 28.0% 35.14% 2
2015 -4.6% -26.7% 138.4% 43.75% 3
2014 8.9% -12.4% 159.7% 70.14% 4

NAV & Total Return History

ABMAX - Holdings

Filings data as of: Feb 28, 2019

Concentration Analysis

ABMAX Category Low Category High ABMAX % Rank Quintile
Net Assets 572 M 313 K 31.1 B 17.92% 3
Number of Holdings 122 25 2630 7.78% 2
Net Assets in Top 10 110 M 105 K 8.81 B 16.75% 3
Weighting of Top 10 17.9% 6.4% 59.3% 25.47% 4

Top 10 Holdings

  1. S+p Mid 400 Emini Mar19 Xcme 20190315 3.98%
  2. Fifth Third Bancorp 1.43%
  3. Axis Capital Holdings Ltd 1.86%
  4. Universal Health Services Inc Class B 1.49%
  5. MGM Growth Properties LLC A 1.60%
  6. Fidelity National Financial Inc 1.56%
  7. Stanley Black & Decker Inc 1.82%
  8. Marvell Technology Group Ltd 1.52%
  9. Ally Financial Inc 1.34%
  10. TransDigm Group Inc 1.33%

Asset Allocation

Weighting Category Low Category High ABMAX % Rank Quintile
Stocks
95.43% 14.26% 100.35% 22.88% 4
Cash
4.57% -0.95% 53.73% 8.73% 1
Preferred Stocks
0.00% 0.00% 18.36% 3.30% 5
Other
0.00% -5.25% 7.57% 5.90% 5
Convertible Bonds
0.00% 0.00% 0.68% 1.18% 5
Bonds
0.00% -0.05% 39.24% 3.77% 5

Stock Sector Breakdown

Weighting Category Low Category High ABMAX % Rank Quintile
Financial Services
20.72% 0.00% 37.79% 15.80% 3
Industrials
18.54% 0.00% 37.62% 4.95% 1
Consumer Cyclical
14.42% 0.00% 34.16% 12.74% 2
Energy
7.39% 0.00% 37.42% 11.08% 2
Real Estate
7.23% 0.00% 46.58% 19.10% 4
Healthcare
5.92% 0.00% 24.89% 21.70% 3
Utilities
5.18% 0.00% 13.21% 19.34% 3
Technology
4.39% 0.00% 30.76% 31.84% 5
Basic Materials
3.99% 0.00% 25.03% 23.35% 4
Consumer Defense
3.08% 0.00% 16.80% 26.18% 5
Communication Services
0.60% 0.00% 7.54% 11.79% 2

Stock Geographic Breakdown

Weighting Category Low Category High ABMAX % Rank Quintile
US
89.55% 10.88% 100.00% 27.59% 4
Non US
5.88% 0.00% 37.72% 8.49% 2

ABMAX - Expenses

Operational Fees

ABMAX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.25% 0.00% 19.64% 24.76% 3
Management Fee 0.77% 0.06% 1.26% 4.25% 4
12b-1 Fee 0.25% 0.00% 1.00% 3.40% 3
Administrative Fee 0.30% 0.01% 0.47% 2.07% 5

Sales Fees

ABMAX Fees (% of AUM) Category Low Category High ABMAX Rank Quintile
Front Load 5.75% 2.50% 5.75% 1.32% 5
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

ABMAX Fees (% of AUM) Category Low Category High ABMAX Rank Quintile
Max Redemption Fee N/A 0.50% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

ABMAX Fees (% of AUM) Category Low Category High ABMAX Rank Quintile
Turnover 34.00% 2.00% 852.98% 18.40% 2

ABMAX - Distributions

Dividend Yield Analysis

ABMAX Category Low Category High ABMAX % Rank Quintile
Dividend Yield 0.1% 0.00% 3.80% 60.77% 4

Dividend Distribution Analysis

ABMAX Category Low Category High Category Mode
Dividend Distribution Frequency Annually Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

ABMAX Category Low Category High ABMAX % Rank Quintile
Net Income Ratio 0.78% -4.66% 6.58% 19.34% 2

Capital Gain Distribution Analysis

ABMAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

ABMAX - Managers

James P. Barrow

Manager

Start Date

Jun 30, 2004

Tenure

14.76

Tenure Rank

2.7%

During Mr. Barrow’s 56-year investment career, he has worked as a securities analyst and portfolio manager for several major institutions including Citizens & Southern Bank of South Carolina, Atlantic Richfield, and Reliance Insurance. In 1973, he joined Republic National Bank of Dallas as a portfolio manager, where he worked with Tim Hanley and John Strauss. He later was placed in charge of the Employee Benefit Portfolio Group and was a member of the Trust Investment Committee until the founding of this firm in 1979. Mr. Barrow graduated from the University of South Carolina with a BS.


Mark Giambrone

Manager

Start Date

Jun 30, 2004

Tenure

14.76

Tenure Rank

2.7%

Mark joined BHMS in 1999. Prior to joining BHMS, Mark served as a portfolio consultant at HOLT Value Associates. During his 23-year career, he has also served as a senior auditor/ tax specialist for KMPG Peat Mearwick and Ernst & Young Kenneth Leventhal. Mark graduated summa cum laude from Indiana University with a BS in Business and received an MBA from the University of Chicago.


Richard S. Pzena

Manager

Start Date

Jun 30, 2004

Tenure

14.76

Tenure Rank

2.7%

Mr. Pzena is the Founder, Managing Principal, Chief Executive Officer and Co-Chief Investment Officer of the firm. Prior to forming Pzena Investment Management in 1995, Mr. Pzena was the Director of U.S. Equity Investments and Chief Research Officer for Sanford C. Bernstein & Company. He joined Bernstein in 1986 as an oil industry analyst and was named to the Institutional Investor All America Research Team from 1988-1990. During 1990 and 1991, Mr. Pzena served as Chief Investment Officer, Small Cap Equities, and assumed his broader domestic equity role in 1991. Prior to joining Bernstein, Mr. Pzena worked for the Amoco Corporation in various financial and planning roles. He earned a B.S. summa cum laude and an M.B.A. from the Wharton School of the University of Pennsylvania in 1979 and 1980 respectively.


Gene L. Needles

Manager

Start Date

Feb 29, 2012

Tenure

7.09

Tenure Rank

9.1%

Mr. Needles has served as President and Chief Executive Officer of American Beacon Advisors, Inc. since April 2009 and has served on the portfolio management team since May 2011. Prior to joining the firm, Mr. Needles was President of Touchstone Investments from 2008 to 2009, President of AIM Distributors from 2003 to 2007 and CEO of AIM Distributors from 2004 to 2007.


John Carr

Manager

Start Date

Mar 08, 2015

Tenure

4.07

Tenure Rank

13.5%

Mr. Carr is an Executive Vice President at WEDGE and has been with the firm since 2011. Prior to joining WEDGE, from 2006 until 2011, Mr. Carr was a Partner and Senior Vice President at Callan Associates. Mr. Carr was also formerly associated with INVESCO Institutional, Trusco Capital Management and Watson Wyatt Worldwide.


Richard Arthur Wells

Manager

Start Date

Mar 08, 2015

Tenure

4.07

Tenure Rank

13.5%

Richard Wells Executive Vice President, has thirty-two years of investment experience and is responsible for portfolio management and client service. Prior to joining WEDGE in 2011, Mr. Wells was a Partner and Director of National Sales with DePrince, Race & Zollo, Inc., in Winter Park, Florida from 1998 to 2011. He was formerly associated with PaineWebber, Incorporated, Salomon Brothers, and the First Boston Company..


Brian J. Pratt

Manager

Start Date

Mar 08, 2015

Tenure

4.07

Tenure Rank

13.5%

Mr. Pratt, General Partner and Lead Equity Analyst, has been with WEDGE since 2007. Prior to joining WEDGE, Mr. Pratt was a litigation consultant with Tucker Alan and Navigant Consulting.


John J. Flynn

Manager

Start Date

Jun 29, 2015

Tenure

3.76

Tenure Rank

14.0%

Mr. Flynn is a Principal and a co-portfolio manager for Pzena's U.S. mid cap and large cap strategies, along with the focused value and small cap focused value services. Prior to joining Pzena in 2005, Mr. Flynn was an associate at Weston Presidio, a middle-market private equity investment firm.


Cynthia M. Thatcher

Manager

Start Date

Dec 31, 2016

Tenure

2.25

Tenure Rank

16.6%

Cynthia Thatcher joined American Beacon Advisors, Inc. in December 1999 and serves as Portfolio Manager, Asset Management. Ms. Thatcher is responsible for Trust Department activities associated with AMR’s $uper $aver 401(k) plan, several American Beacon Funds and securities lending for both the AMR pension plans and the American Beacon Funds. Ms. Thatcher's professional experience includes eight years as a financial consultant and more recently, sales planning at Sabre, Inc. Ms. Thatcher has a BA in Mathematics from Indiana University and an MBA with Honors in Finance from the University of Dallas.


Paul B. Cavazos

Manager

Start Date

Dec 31, 2016

Tenure

2.25

Tenure Rank

16.6%

Paul B Cavazos is Chief Investment Officer and joined American Beacon Advisors and has served on the portfolio management team since 2016. Prior to joining American Beacon Advisors, Mr. Cavazos was Chief Investment Officer and Assistant Treasurer of DTE Energy from 2007 to 2016.


Benjamin S. Silver

Manager

Start Date

Aug 28, 2017

Tenure

1.59

Tenure Rank

18.2%

Mr. Silver is a Principal, Co–Director of Research, and Portfolio Manager at Pzena. Prior to joining Pzena Investment Management in 2001, Mr. Silver was a Research Analyst at Levitas & Company, a value based equity hedge fund. Mr. Silver was previously employed as a Manager for Ernst & Young LLP in their Financial Services Group from 1991 to 1996. He earned a B.S. magna cum laude in Accounting from Sy Syms School of Business at Yeshiva University. Mr. Silver is a Certified Public Accountant and holds the Chartered Financial Analyst designation.


Terry L. Pelzel

Manager

Start Date

Feb 28, 2018

Tenure

1.08

Tenure Rank

18.9%

Mr. Pelzel joined BHMS in 2010 as an equity analyst. During his 13-year investment career, he served as a senior portfolio analyst at Highland Capital Management, LP and as a financial analyst at Houlihan, Lokey, Howard & Zukin, Inc. Mr. Pelzel graduated from Texas A&M University, where he earned his BBA in Finance, magna cum laude.


Colin J. Hamer

Manager

Start Date

Mar 16, 2018

Tenure

1.04

Tenure Rank

19.0%

Colin J. Hamer has served on the asset management team since January 2015 and is a CFA® Charterholder. Prior to joining the Manager, Mr. Hamer worked at Fidelity Investments in various investment-related roles from 2008 to 2014.


Michael Ritzer

Manager

Start Date

Jan 25, 2019

Tenure

0.18

Tenure Rank

20.8%

Michael D. Ritzer, CFA, General Partner, has thirteen years of investment experience and is responsible for mid cap equity research. Prior to joining WEDGE in 2010, Mr. Ritzer was a Senior Analyst at Freestyle Fund Services Company in New York, NY from 2004 to 2008. He was formerly an Investment Banking Analyst for Jefferies & Company from 2003 to 2004. Mike received his Bachelor of Science in Commerce degree with a concentration in Finance and a second major in English from the McIntire School of Commerce at the University of Virginia. He received his Master of Business Administration degree from the Darden Graduate School of Business at the University of Virginia. Mike is a member of the firm’s Investment Policy Committee.


Tenure Analysis

Category Low

0.1

Category High

30.6

Category Average

7.32

Category Mode

4.3