American Beacon SSI Alternative Income Fund Y Class
PSCIX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- American Beacon Advisors MA United States of America
- IPO Date
- May 25, 2012
- CIK
- 0001318342
- Website
- americanbeaconfunds.com
- Similar Companies
- Business
- American Beacon SSI Alternative Income Fund Y Class (PSCIX) is an open-end mutual fund that seeks income and, secondarily, absolute returns through a convertible arbitrage strategy. The fund primarily invests in convertible securities, including convertible bonds and convertible preferred securities, while establishing short positions or hedges in the common stock of the issuers; it also employs exchange-traded funds, options, and currency forwards to mitigate unwanted exposures and generate returns from multiple sources such as convertible income, interest rebates on equity shorts, hedge adjustments, and undervalued security identification. Portfolio allocation typically includes approximately 93% convertibles, -32% equity shorts, 31% cash associated with shorts, 6% cash, and 2% preferred stock, with significant exposure to sectors like health technology, technology services, real estate investment trusts, and consumer services; as of September 2025, total fund assets exceed $327 million, with the Y Class holding a substantial portion. Managed by American Beacon Advisors, Inc., headquartered in Irving, Texas, with sub-advisory provided entirely by SSI Investment Management LLC—a boutique institutional asset manager founded in 1973—the fund inaugurated its Y Class shares on May 25, 2012, targeting institutional and high-net-worth investors seeking low-volatility, market-neutral alternatives to traditional fixed-income during rising interest-rate environments. The strategy emphasizes low duration, minimal equity beta, and risk-managed capital appreciation via quantitative disciplines and fundamental research across primarily U.S. markets, with an average hedge ratio of 47%, conversion premium of 129%, and holdings diversified across 123 positions such as Redwood Trust Inc. 7.750% due 2027 and Western Digital Corp. 3.000% due 2028. In January 2019, American Beacon's parent company, Resolute Investment Managers, acquired a majority interest in SSI Investment Management, strengthening the sub-advisory partnership and enabling broader distribution of the fund's niche convertible arbitrage approach previously accessible mainly to large institutions; the fund launched under American Beacon branding in May 2019 with new share classes including Y Class PSCIX. No major acquisitions, funding rounds, name changes, or strategic shifts have occurred in the last 1-2 years, with operations maintaining steady focus on defensive fixed-income complementarity amid volatile markets.