We learned from Mutual Fund Wire that American Beacon is closing its Mileage money market share class. The SEC Filing says, "On August 10, 2011, the Board of Trustees of American Beacon Mileage Funds approved a plan to liquidate and terminate the American Beacon Money Market Mileage Fund, upon recommendation by American Beacon Advisors, Inc., the manager to the Fund. Due to the size of the Fund [$​24 million], the Manager does not believe that it can continue to conduct the Fund'​s business and operations in an economically efficient manner. As such, the Board concluded that it would be in the best interests of the Fund and its shareholders to liquidate and terminate the Fund." American Beacon continues to run the American Beacon MM Select and American Beacon US Govt Select money funds. The filing adds, "In anticipation of the liquidation, effective immediately the Fund is closed to new shareholders. Effective August 22, 2011, the Fund will stop accepting purchases into the Fund from existing shareholders. To prepare for the closing and liquidation of the Fund, the Fund'​s portfolio managers may need to increase the portion of the Fund'​s assets held in cash and similar instruments in order to pay for Fund expenses and meet redemption requests. As a result, the Fund may deviate from its stated investment objective. On or about September 30, 2011, the Fund will distribute cash pro rata to all remaining shareholders who have not previously redeemed all of their shares."

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