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American Beacon Holland Large Cap Growth Fund announces launch
By Toni Weeks
San Diego, March 23 - American Beacon Funds announced that it is now offering a new fund, the American Beacon Holland Large Cap Growth Fund, according to an N-1A filing with the Securities and Exchange Commission.
The fund launched on Friday with A class, C class, institutional class, Y class and investor class shares. The ticker symbols are LHGAX, LHGCX, LHGIX, LHGYX and LHGFX, respectively.
The new fund is the successor to the Lou Holland Growth Fund, which the fund acquired on March 23. The predecessor fund was a series of the Forum Funds.
The fund seeks primarily long-term growth of capital with dividend income as a secondary consideration. It will seek its objective by investing, under normal market conditions, 80% of its net assets, plus the amount of any borrowing for investment purposes, in equity securities of large-capitalization growth companies at the time of purchase.
Cynthia M. Thatcher, Wyatt L. Crumpler, Gene L. Needles, Jr., Monica L. Walker and Carl R. Bhathena are the portfolio managers.
A class shares will incur a 5.75% maximum sales charge, and C class shares are subject to a 1% maximum deferred sales charge. There are no other shareholder fees.
Annual fund operating expenses include management fees of 0.45%. There is a fee waiver agreement with the manager that limits the total annual fund operating expenses to 1.39% for A class, 2.14% for C class, 0.89% for institutional class, 0.99% for Y class and 1.27% for investor class shares.
Fort Worth-based American Beacon Advisors, Inc. is the fund's investment adviser. Holland Capital Management LLC is the subadviser.
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