AMCCX — American Beacon Mid-Cap Value Fund
Data updated: 2022-09-27
AMCCX — American Beacon Mid-Cap Value Fund. Money Market · $126.25M AUM · 2.01% expense ratio. Holdings, fees, performance and SEC filings.
AMCCX Fund Overview
AMCCX — American Beacon Mid-Cap Value Fund is a US mutual fund managed by American Beacon Funds, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: American Beacon Funds
- Category: Money Market
- Assets under management: $126.25M
- 1-year return: -4.6%
- Ticker: AMCCX
- SEC CIK: 0000809593
- SEC series ID: S000001819
- Share class ID: C000092342
AMCCX Investment Objective and Strategy
American Beacon Mid-Cap Value Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by American Beacon Funds.
Investment objective
The Fund's investment objective is long-term capital appreciation and current income.
Principal investment strategy
"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. As of December 31, 2017 the market capitalizations of the companies in the Russell Midcap Index ranged from $1.1 billion to $37 billion. The Fund's investments may include common stocks, real estate investment trusts (""REITs""), American Depositary Receipts (""ADRs"") and U.S. dollar-denominated foreign stocks traded on U.S. exchanges (collectively referred to as ""stocks""). The Manager allocates the assets of the Fund among different sub-advisors.
The Manager believes that this strategy may help the Fund outperform other investment styles over the longer term while reducing volatility and downside risk. In general, the sub-advisors select stocks that, in their opinion, have most or all of the following characteristics (relative to the Russell Midcap Index): above-average earnings growth potential, below-average price to earnings ratio, and below-average price to book value ratio. Barrow, Hanley, Mewhinney & Strauss, LLC (""Barrow""), one of the Fund's sub-advisors, invests in medium-sized companies with low price to earnings and price to book value ratios and high dividend yields in relation to the Russell Midcap Index. Through extensive research and meetings with company management teams, Barrow seeks to identify companies that not only possess these three characteristics, but that also exhibit high or improving profitability translating into earnings growth above that of the overall Russell Midcap Index.
Barrow's portfolio will generally consist of 40 to 50 stocks. Pzena Investment Management, LLC (""Pzena""), another one of the Fund's sub-advisors, invests in medium-sized companies and intends to maintain a concentrated portfolio of 35 to 40 stocks selected from the most undervalued or ""deep"" value portion of its investment universe. Pzena looks for companies within that universe that sell for a low price relative to normal earnings (with ""normal earnings"" defined as a 5 year estimate of what the company should earn in a normal environment based on research of the company's history and the history of its industry). WEDGE Capital Management, L.L.P. (""WEDGE""), another one of the Fund's sub-advisors, is primarily focused on identifying unrecognized value among high quality, market-leading companies, with a defendable competitive advantage, and market capitalization between $1 billion and $20 billion.
Focusing on companies that meet initial value and financial quality parameters, research analysts employ comprehensive, qualitative and quantitative analysis, seeking stocks with unrecognized value. Areas of emphasis include independent earnings forecasts and financial statement analysis, an evaluation of free cash flow generation and return on invested capital, absolute and relative valuations, industry analysis and competitive positioning, and management capabilities and incentives. Each of the Fund's sub-advisors determines the earnings growth prospects of companies based upon a combination of internal and external research using fundamental analysis and considering changing economic trends. The decision to sell a security is typically based on the belief that the company is no longer considered undervalued or shows deteriorating fundamentals, or that better investment opportunities exist in other stocks.
The Fund may invest cash balances in other investment companies, including money market funds, and may purchase and sell futures contracts to gain market exposure on cash balances or reduce market exposure in anticipation of liquidity needs. The Fund may lend its securities to broker-dealers and other institutions to earn additional income."
AMCCX Performance
Total returns for AMCCX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -4.6% |
| 3 years (annualised) | 7.1% |
AMCCX Risk Information
Risk metrics for AMCCX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 19.4%
AMCCX Costs and Fees
AMCCX costs about $201 per $10,000 invested per year in fund expenses.
- Net expense ratio: 2.01%
- Gross expense ratio: 2.17%
- Portfolio turnover: 30%
- Brokerage commissions: 8.76 bps of average net assets (SEC N-CEN)
AMCCX Cashflows
Over the 12 months to 2022-07, American Beacon Mid-Cap Value Fund had net outflows of $60.34M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2022-07 | −$7.34M |
| 2022-06 | −$1.86M |
| 2022-05 | −$3.98M |
| 2022-04 | −$5.25M |
| 2022-03 | −$9.68M |
| 2022-02 | −$17.62M |
AMCCX Debt Constituents
No individual debt constituents are reported in American Beacon Mid-Cap Value Fund's latest SEC N-PORT filing.
AMCCX Prospectus and SEC Filings
Official American Beacon Mid-Cap Value Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-02-28
- Prospectus (485BPOS) — filed 2021-02-25
- Prospectus (485BPOS) — filed 2020-03-11
- Portfolio holdings (N-PORT) — filed 2022-09-27
- Portfolio holdings (N-PORT) — filed 2022-06-28
- Portfolio holdings (N-PORT) — filed 2022-04-01
- Annual census (N-CEN) — filed 2022-01-14
- Annual census (N-CEN) — filed 2021-01-12
Related Funds
Other Money Market funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.