Fund Evaluator:

American Beacon Ninety One Gbl Frnchs Y Overview

American Beacon Ninety One Gbl Frnchs Y (ZGFAX) is an actively managed International Equity Global Large-Stock Growth fund. American Beacon launched the fund in 2018.

The investment seeks long-term capital growth. Under normal circumstances, the Adviser seeks to achieve the fund's investment objective by investing primarily in common stocks of large capitalization companies that the Adviser believes have rare and exceptional qualities that create enduring competitive advantages and strong global brands or franchises. The fund invests in at least three countries, including the U.S., and invests at least 40% of its total assets in securities of non-U.S. companies. It is non-diversified.

About American Beacon Ninety One Gbl Frnchs Y (ZGFAX)

There are 4 members of the management team with an average tenure of 4.02 years: Clyde Rossouw (2017), Abrie Pretorius (2024), Elias Erickson (2024), Paul Vincent (2024). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: MSCI ACWI NR USD index with a weighting of 100%. American Beacon Ninety One Gbl Frnchs Y has 29 securities in its portfolio. The top 10 holdings constitute 53.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

American Beacon Ninety One Gbl Frnchs Y is part of the Equity global asset class and is within the International Equity fund group. American Beacon Ninety One Gbl Frnchs Y has 30.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 65.6%. There is 30.1% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). American Beacon Ninety One Gbl Frnchs Y has 4.3% of the portfolio in cash.

Assets Under Management

The fund has $53 million in total assets, which is below the $988 million average for the Global Large-Stock Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

ZGFAX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The American Beacon Ninety One Gbl Frnchs Y expense ratio is high compared to funds in the Global Large-Stock Growth category. American Beacon Ninety One Gbl Frnchs Y has an expense ratio of 0.86%, which is 23% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. American Beacon Ninety One Gbl Frnchs Y has a portfolio turnover rate of 14%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 47% for the Global Large-Stock Growth category.

Recently, in the month of July 2026, American Beacon Ninety One Gbl Frnchs Y returned 4.4%, which earned it a grade of A, as the Global Large-Stock Growth category had an average return of -2.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

American Beacon Ninety One Gbl Frnchs Y has a trailing yield of 0.70%, which is above the 0.27% category average. The fund normally distributes its income annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

American Beacon Ninety One Gbl Frnchs Y Grades

Year to date, the fund has returned 1.0%, 5.0 percentage points worse than the category, which translates into a grade of F. The fund has returned 8.5% over the past year (grade of D), 10.3% over the past three years (grade of D) and 5.4% per year over the past five years (grade of C).

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