American Beacon International Equity Fund Investor Class (AAIPX) is an open-end mutual fund that seeks long-term capital appreciation by investing at least 80% of its net assets in equity securities of non-U.S. issuers, primarily in developed markets comprising the MSCI EAFE Index; it employs a multi-manager structure sub-advised by Lazard Asset Management LLC (approximately 33.6%), Causeway Capital Management LLC (33.5%), and American Century Investment Management, Inc. (32.9%), focusing on undervalued large-cap value stocks through bottom-up fundamental analysis. The fund's portfolio is diversified across sectors including industrials (20.2%), financials (18.0%), consumer discretionary (14.0%), health care (12.7%), and information technology (11.3%), with geographic emphasis on the United Kingdom (28.2%), France (16.6%), Japan (11.2%), Germany (8.8%), and the Netherlands (7.3%); top holdings feature Samsung Electronics Co., Ltd. (3.4%), Alstom SA (2.6%), and Reckitt Benckiser Group plc (2.4%). Launched on August 1, 1994, with a prior class inception of August 7, 1991, the fund is domiciled in the United States, headquartered at American Beacon Advisors in Fort Worth, Texas, and targets institutional and retail investors with a minimum initial investment of $2,500, maintaining total net assets of approximately $599 million and a net expense ratio of 1.11%. Recent developments include the 2025 rebranding of its affiliate Resolute Investment Managers to American Beacon Partners to support strategic growth in wealth and retirement markets, alongside ongoing portfolio oversight by an expanded team of sub-advisors' managers such as Kirk Brown, Sarah Ketterer, and newer additions like Pablo Valcarce since March 2025.