We are pleased to announce that the Board of Trustees of Professionally Managed
Portfolios has approved a plan of reorganization whereby the Stephens Small Cap
Growth Fund and Stephens Mid Cap Growth Fund
will reorganize into the American
Beacon Family of Funds. The new fund names will be the American Beacon Stephens
Small Cap Growth Fund
and the American Beacon Stephens Mid Cap Growth
. The new Funds are designed to be substantially similar from an investment
perspective as their predecessors. Stephens Investment Management Group, LLC
(“SIMG”), will continue to manage the day-to-day portfolio as the sub-adviser to the
American Beacon Funds. By engaging SIMG as a sub-adviser, American Beacon
Advisers will be able to provide shareholders continuity of the portfolio management
team that has been responsible for the Stephens Funds’ performance records since the
inception of each of the Funds. The portfolio managers of SIMG who are primarily
responsible for the day-to-day portfolio management of each of the Stephens Funds will
remain the same.
The reorganization of the Funds took effect on February 24, 2012.
At that time, the
Class A and Class I shares of the Stephens Funds were exchanged, on a tax-free basis,
for Investor Class shares and Institutional Class shares, respectively, of the applicable
American Beacon Fund with the same aggregate value.
If you have any questions or comments please do not hesitate to contact an American
Beacon Client Services Representative during regular business hours at (800) 658-5811,
option 1. You can also learn more about the reorganization on American Beacon’s
website at www.americanbeaconfunds.com
We appreciate your continued interest in the American Beacon Stephens Funds.