# EDGAR Filing Document

**Accession Number:** 0001700933
**File Stem:** 0001133228-23-000371
**Filing Date:** 2023-1
**Character Count:** 50205
**Document Hash:** 6ab87c4d1a6b6013c49a2c98e9c3fdc1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001133228-23-000371.hdr.sgml**: 20230131

**ACCESSION NUMBER**: 0001133228-23-000371

**CONFORMED SUBMISSION TYPE**: POS AMI

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230131

**DATE AS OF CHANGE**: 20230131

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** American Beacon Institutional Funds Trust
- **CENTRAL INDEX KEY:** 0001700933
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** POS AMI
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23239
- **FILM NUMBER:** 23572252

**BUSINESS ADDRESS:**
- **STREET 1:** 220 EAST LAS COLINAS BOULEVARD
- **STREET 2:** SUITE 1200
- **CITY:** IRVING
- **STATE:** TX
- **ZIP:** 75039
- **BUSINESS PHONE:** 817-391-6100

**MAIL ADDRESS:**
- **STREET 1:** 220 EAST LAS COLINAS BOULEVARD
- **STREET 2:** SUITE 1200
- **CITY:** IRVING
- **STATE:** TX
- **ZIP:** 75039

## Series and Classes Contracts Data

### American Beacon Diversified Fund (Series ID: S000057856)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000186839 | AAL Class    | ZABDFX          |

As filed with the Securities and Exchange Commission on January 31, 2023

1940 Act File No. 811-23239

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

Washington, D.C. 20549

**FORM N-1A**

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 ☒ <br> Amendment No. 27 ☒ <br> (Check appropriate box or boxes.)

**AMERICAN BEACON INSTITUTIONAL FUNDS TRUST**

(Exact Name of Registrant as Specified in Charter)

220 East Las Colinas Boulevard, Suite 1200

Irving, Texas 75039

(Address of Principal Executive Offices) (Zip Code)

Registrant's Telephone Number, including Area Code: (817) 391-6100

Jeffrey K. Ringdahl, President

220 East Las Colinas Boulevard

Suite 1200

Irving, Texas 75039

(Name and Address of Agent for Service)

With copies to:

Kathy K. Ingber, Esq.

K&L Gates LLP

1601 K Street, NW

Washington, D.C. 20006-1600

**EXPLANATORY NOTE**

This Amendment No. 27 to the Registration Statement of American Beacon Institutional Funds Trust (the "Registrant") on Form N-1A (File No. 811-23239) is being filed under the Investment Company Act of 1940, as amended (the "1940 Act"), to amend and supplement [Amendment No. 23 to the Registrant's Registration Statement on Form N-1A filed with the U.S. Securities and Exchange Commission (the "Commission") on February 28, 2022, under the 1940 Act (Accession No. 0001133228-22-000946) ("Registration Statement")](https://www.sec.gov/Archives/edgar/data/1700933/000113322822000946/abift-html4419_posami.htm), as pertaining to the Part A and the Part B of the Registration Statement. The Part A and the Part B of the Registration Statement and the supplements to the Part A and the Part B of the Registration Statement, as filed in (i) [Amendment No. 24 to the Registration Statement on April 14, 2022 (Accession No. 0001133228-22-001972)](https://www.sec.gov/Archives/edgar/data/1700933/000113322822001972/abift-html4672_posami.htm), (ii) [Amendment No. 25 to the Registration Statement on May 17, 2022 (Accession No. 0001133228-22-003596)](https://www.sec.gov/Archives/edgar/data/1700933/000113322822003596/abift-html5052_posami.htm), and (iii) [Amendment No. 26 to the Registration Statement on July 21, 2022 (Accession No. 0001133228-22-004922)](https://www.sec.gov/Archives/edgar/data/1700933/000113322822004922/abdf-html5246_posami.htm) are incorporated herein by reference.

The securities described in the Registration Statement are offered in a private placement that does not involve a "public offering" within the meaning of Section 4(a)(2) of the Securities Act of 1933, as amended ("1933 Act"), and Regulation D (including Rule 506(b)) thereunder, and have not been registered with or approved or disapproved by the Commission under the 1933 Act or any other regulatory authority of any jurisdiction, nor has the Commission passed upon the accuracy or adequacy of any part of the Registration Statement. Any representation to the contrary is a criminal offense.

The securities described in the Registration Statement are being offered for investment only to qualified plans, investment companies, insurance company separate accounts, common or commingled trust funds or similar organizations or entities that are "accredited investors" within the meaning of Regulation D under the 1933 Act, and that are also "qualified purchasers" as defined in Section 2(a)(51) of the 1940 Act.

**Amendment to the Part A and the Part B of the Private Placement Memorandum**

January 31, 2023

Dear Investor,

The purpose of this amendment is to update Part A and Part B of the Private Placement Memorandum of American Beacon Diversified Fund (the "Fund"), a series of American Beacon Institutional Funds Trust, dated March 1, 2022, as previously amended, as follows:

*Effective January 17, 2023, Kevin J. Matthews of Lazard Asset Management LLC no longer serves as a portfolio manager for the Fund. Accordingly, effective as of January 17, 2023, all references to Mr. Matthews in Part A and Part B of the Private Placement Memorandum are deleted.*

\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*

**PLEASE BE SURE TO RETAIN THIS IMPORTANT INFORMATION WITH YOUR <br>PRIVATE PLACEMENT MEMORANDUM FOR FUTURE REFERENCE.**

**PART C**<br>OTHER INFORMATION

Item 28. Exhibits

---

| | | |
|:---|:---|:---|
| **Number** | **Number** | **Exhibit Description** |
| (a) | (1) | [Certificate of Trust](https://www.sec.gov/Archives/edgar/data/1700933/000113322817001416/e461965_ex99-a1.htm), dated January 11, 2017, is incorporated by reference to Registrant's Initial Registration Statement on Form N-1A, filed on March 17, 2017 ("Initial Registration Statement") |
|  | (2) | [Amended and Restated Declaration of Trust](https://www.sec.gov/Archives/edgar/data/1700933/000089843219001526/decltrust.htm), dated August 20, 2019, is incorporated by reference to Amendment No. 10 to the Initial Registration Statement, filed on December 27, 2019 ("Amendment No. 10") |
| (b) |  | [Amended and Restated Bylaws](https://www.sec.gov/Archives/edgar/data/1700933/000089843219001526/bylaws.htm), effective as of August 20, 2019, is incorporated by reference to Amendment No. 10 |
| (c) |  | Not applicable |
| (d) | (1) | [Management Agreement](https://www.sec.gov/Archives/edgar/data/1700933/000113322817001416/e461965_ex99-d1.htm) between American Beacon Institutional Funds Trust and American Beacon Advisors, Inc., dated February 28, 2017, is incorporated by reference to the Initial Registration Statement |
|  | (2)(A) | [Investment Advisory Agreement](https://www.sec.gov/Archives/edgar/data/1700933/000113322820007442/abift-html3103_ex99d2a.htm) among American Beacon Institutional Funds Trust, American Beacon Advisors, Inc. and Barrow, Hanley, Mewhinney & Strauss, LLC, dated November 17, 2020, is incorporated by reference to Amendment No. 16 to the Initial Registration Statement, filed on November 25, 2020 |
|  | (2)(B) | [Investment Advisory Agreement](https://www.sec.gov/Archives/edgar/data/1700933/000113322820004693/abift-html2840_ex99d2b.htm) among American Beacon Institutional Funds Trust, American Beacon Advisors, Inc. and Brandywine Global Investment Management, LLC, dated July 21, 2020, is incorporated by reference to Amendment No. 15 to the Initial Registration Statement, filed on July 31, 2020 ("Amendment No. 15") |
|  | (2)(C) | [Investment Advisory Agreement](https://www.sec.gov/Archives/edgar/data/1700933/000113322817002370/e464097_ex99-d2c.htm) among American Beacon Institutional Funds Trust, American Beacon Advisors, Inc., and Hotchkis and Wiley Capital Management LLC, dated March 21, 2017, is incorporated by reference to Amendment No. 1 to the Initial Registration Statement, filed on April 12, 2017 ("Amendment No. 1") |
|  | (2)(D)(1) | [Investment Advisory Agreement](https://www.sec.gov/Archives/edgar/data/1700933/000113322817002370/e464097_ex99-d2d.htm) among American Beacon Institutional Funds Trust, American Beacon Advisors, Inc. and Lazard Asset Management LLC, dated March 21, 2017, is incorporated by reference to Amendment No. 1 |
|  | (2)(D)(2) | [First Amendment to Investment Advisory Agreement](https://www.sec.gov/Archives/edgar/data/1700933/000113322820004693/abift-html2840_ex99d2d2.htm) among American Beacon Institutional Funds Trust, American Beacon Advisors, Inc. and Lazard Asset Management LLC, dated April 1, 2020, is incorporated by reference to Amendment No. 15 |
|  | (2)(E) | [Investment Advisory Agreement](https://www.sec.gov/Archives/edgar/data/1700933/000113322817002370/e464097_ex99-d2f.htm) among American Beacon Institutional Funds Trust, American Beacon Advisors, Inc. and Aristotle Capital Management, LLC, dated March 21, 2017, is incorporated by reference to Amendment No. 1 |
|  | (2)(F) | [Investment Advisory Agreement](https://www.sec.gov/Archives/edgar/data/1700933/000113322820000769/abit-html1988_ex99d2f.htm) among American Beacon Institutional Funds Trust, American Beacon Advisors, Inc. and WCM Investment Management, LLC, dated February 7, 2020, is incorporated by reference to Amendment No. 12 to the Initial Registration Statement, filed on February 28, 2020 |
| (e) |  | Not applicable |
| (f) |  | Not applicable |
| (g) | (1) | [Custodian Agreement](https://www.sec.gov/Archives/edgar/data/1700933/000113322817002370/e464097_ex99-g1.htm) between American Beacon Institutional Funds Trust and State Street Bank and Trust Company, dated March 24, 2017, is incorporated by reference to Amendment No. 1 |
|  | (2) | [Class Action Filing Services Amendment to Custodian Agreement](https://www.sec.gov/Archives/edgar/data/1700933/000113322817002370/e464097_ex99-g2.htm) between American Beacon Institutional Funds Trust and State Street Bank and Trust Company, dated March 24, 2017, is incorporated by reference to Amendment No. 1 |
| (h) | (1)(A) | [Transfer Agency and Service Agreement](https://www.sec.gov/Archives/edgar/data/1700933/000113322817002370/e464097_ex99-h1.htm) between American Beacon Institutional Funds Trust and State Street Bank and Trust Company, dated March 22, 2017, is incorporated by reference to Amendment No. 1 |
|  | (1)(B) | [Amendment to and Assignment of Transfer Agency and Service Agreement](https://www.sec.gov/Archives/edgar/data/1700933/000113322819000671/html759_ex99-h1b.htm) between American Beacon Institutional Funds Trust and State Street Bank and Trust Company, dated November 29, 2017, is incorporated by reference to Amendment No. 9 to the Initial Registration Statement, filed on February 28, 2019 |
|  | (1)(C) | [Amendment to Transfer Agency and Service Agreement](https://www.sec.gov/Archives/edgar/data/1700933/000089843219001526/trnsfragntagmtnovember.htm) between American Beacon Institutional Funds Trust and DST Asset Manager Solutions, Inc., dated November 16, 2018, is incorporated by reference to Amendment No. 10 |
|  | (1)(D) | [Amendment to Transfer Agency and Service Agreement](https://www.sec.gov/Archives/edgar/data/1700933/000089843219001526/trnsfragntmtfebruary.htm) between American Beacon Institutional Funds Trust and DST Asset Manager Solutions, Inc., dated February 25, 2019, is incorporated by reference to Amendment No. 10 |
|  | (1)(E) | [Amendment to Transfer Agency and Service Agreement](https://www.sec.gov/Archives/edgar/data/1700933/000113322820004693/abift-html2840_ex99h1e.htm) between American Beacon Institutional Funds Trust and DST Asset Manager Solutions, Inc., dated April 30, 2020, is incorporated by reference to Amendment No. 15 |
|  | (1)(F) | [Amendment to Transfer Agency and Service Agreement](https://www.sec.gov/Archives/edgar/data/1700933/000113322822000946/abift-html4419_ex99h1f.htm) between American Beacon Institutional Funds Trust and DST Asset Manager Solutions, Inc., dated September 27, 2021, is incorporated by reference to Amendment No. 23 to the Initial Registration Statement, filed on February 28, 2022 ("Amendment No. 23") |
|  | (2)(A) | [Securities Lending Authorization Agreement](https://www.sec.gov/Archives/edgar/data/1700933/000113322817001416/e461965_ex99-h2.htm) between American Beacon Funds and State Street Bank and Trust Company, dated February 16, 2017, is incorporated by reference to the Initial Registration Statement |
|  | (2)(B) | [Joinder and First Amendment to Securities Lending Authorization Agreement](https://www.sec.gov/Archives/edgar/data/1700933/000113322820004693/abift-html2840_ex99h2b.htm) between American Beacon Funds, American Beacon Institutional Funds Trust and State Street Bank and Trust Company, dated June 21, 2017, is incorporated by reference to Amendment No. 15 |

---

**2**

------

---

| | | |
|:---|:---|:---|
| **Number** | **Number** | **Exhibit Description** |
|  | (2)(C) | [Second Amendment to Securities Lending Authorization Agreement](https://www.sec.gov/Archives/edgar/data/1700933/000113322820004693/abift-html2840_ex99h2c.htm) between American Beacon Funds, American Beacon Institutional Funds Trust and State Street Bank and Trust Company, dated September 18, 2017, is incorporated by reference to Amendment No. 15 |
|  | (2)(D) | [Third Amendment to Securities Lending Authorization Agreement](https://www.sec.gov/Archives/edgar/data/1700933/000113322820004693/abift-html2840_ex99h2d.htm) between American Beacon Funds, American Beacon Institutional Funds Trust and State Street Bank and Trust Company, dated October 31, 2018, is incorporated by reference to Amendment No. 15 |
|  | (2)(E) | [Fourth Amendment to Securities Lending Authorization Agreement](https://www.sec.gov/Archives/edgar/data/1700933/000113322820004693/abift-html2840_ex99h2e.htm) between American Beacon Funds, American Beacon Institutional Funds Trust and State Street Bank and Trust Company, dated September 6, 2019, is incorporated by reference to Amendment No. 15 |
|  | (2)(F) | [Fifth Amendment to Securities Lending Authorization Agreement](https://www.sec.gov/Archives/edgar/data/1700933/000113322820004693/abift-html2840_ex99h2f.htm) between American Beacon Funds, American Beacon Institutional Funds Trust and State Street Bank and Trust Company, dated May 12, 2020, is incorporated by reference to Amendment No. 15 |
|  | (2)(G) | [Sixth Amendment to Securities Lending Authorization Agreement](https://www.sec.gov/Archives/edgar/data/1700933/000113322820004693/abift-html2840_ex99h2g.htm) between American Beacon Funds, American Beacon Institutional Funds Trust and State Street Bank and Trust Company, dated May 27, 2020, is incorporated by reference to Amendment No. 15 |
| (i) |  | Not applicable |
| (j) |  | Not Applicable |
| (k) |  | Not applicable |
| (l) |  | Not applicable |
| (m) |  | Not applicable |
| (n) |  | Not applicable |
| (p) | (1) | [Code of Ethics](https://www.sec.gov/Archives/edgar/data/1700933/000113322822003596/abift-html5052_99p1.htm) of American Beacon Advisors, Inc., American Beacon Funds, American Beacon Institutional Funds Trust, American Beacon Select Funds, and Resolute Investment Distributors, Inc., dated April 7, 2022, is incorporated by reference to Amendment No. 25 to the Initial Registration Statement, filed on May 17, 2022 |
|  | (2) | [Code of Ethics](https://www.sec.gov/Archives/edgar/data/1700933/000113322822000946/abift-html4419_ex99p2.htm) of Aristotle Capital Management, LLC, dated January 19, 2021, is incorporated by reference to Amendment No. 23 |
|  | (3) | [Code of Ethics](https://www.sec.gov/Archives/edgar/data/1700933/000113322822000946/abift-html4419_ex99p3.htm) of Barrow, Hanley, Mewhinney & Strauss, LLC, as revised December 31, 2020, is incorporated by reference to Amendment No. 23 |
|  | (4) | [Code of Ethics](https://www.sec.gov/Archives/edgar/data/1700933/000113322822000946/abift-html4419_ex99p4.htm) of Hotchkis and Wiley Capital Management, LLC, dated September 1, 2021, is incorporated by reference to Amendment No. 23 |
|  | (5) | [Code of Ethics](https://www.sec.gov/Archives/edgar/data/1700933/000113322822000946/abift-html4419_ex99p5.htm) and Personal Investment Policy of Lazard Asset Management LLC, is incorporated by reference to Amendment No. 23 |
|  | (6) | [Code of Ethics](https://www.sec.gov/Archives/edgar/data/1700933/000113322822000946/abift-html4419_ex99p6.htm) of WCM Investment Management, LLC, dated May 1, 2021, is incorporated by reference to Amendment No. 23 |
|  | (7) | [Code of Ethics](https://www.sec.gov/Archives/edgar/data/1700933/000113322821000954/abift-html3341_ex99p7.htm) for Brandywine Global investment Management, LLC, dated October 2020, is incorporated by reference to Amendment No. 18 to the Initial Registration Statement, filed on February 25, 2021 |
| Other Exhibits | Other Exhibits | Other Exhibits |
|  |  | [Powers of Attorney](https://www.sec.gov/Archives/edgar/data/1700933/000113322822000946/abift-html4419_ex99other.htm) for Trustees of American Beacon Funds, American Beacon Select Funds and American Beacon Institutional Funds Trust, effective as of January 31, 2022, are incorporated by reference to Amendment No. 23  |

---

**Item 29. Persons Controlled by or under Common Control with Registrant**

None.

**Item 30. Indemnification**

*Article VII of the Amended and Restated Declaration of Trust of the Trust provides that:*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Section 7.2 <u><u>Limitation of Liability.</u></u> No person who is or has been a Trustee or officer of the Trust shall be liable to the Trust, or a Series or a Shareholder for any action or failure to act or for any other reason except solely for his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his or her office of Trustee or officer, and shall not be liable for errors of judgment or mistakes of fact or law. Subject to the foregoing: (i) the Trustees shall not be responsible or liable in any event for any neglect or wrongdoing of any other person, including any officer, agent, employee, independent contractor or consultant, nor shall any Trustee be responsible for the act or omission of any other Trustee; (ii) the Trustees may rely upon advice of legal counsel or other experts and shall be under no liability for any act or omission in accordance with such advice or for failing to follow such advice; and (iii) the Trustees shall be entitled to rely upon the records of the Trust and upon information, opinions, reports or statements presented by another Trustee or any officer, employee or agent of the Trust, or by any other Person, as to matters reasonably believed to be within such Person's professional or expert competence. The appointment, designation or identification of a Trustee as an expert on any topic or in any area (including an audit committee financial expert), or any other special appointment, designation or identification of a Trustee, shall not impose on that Trustee any standard of care or liability that is greater than that imposed on him as a Trustee in the absence of

**3** 

------

the appointment, designation or identification, and no Trustee who has special skills or expertise, or is appointed, designated or identified as aforesaid, shall be held to a higher standard of care by virtue thereof. The Trustees shall not be required to give any bond as such, nor any surety if a bond is obtained.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All Persons extending credit to, contracting with or having any claim against the Trust or any Series shall look only to the assets of the Trust or any applicable Series that such Person extended credit to, contracted with or has a claim against, and neither the Trustees nor the Shareholders, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever executed or done by or on behalf of the Trust or any Series or the Trustees or officers by any of them in connection with the Trust shall conclusively be deemed to have been executed or done only in or with respect to his or their capacity as Trustee or Trustees, and such Trustee or Trustees shall not be personally liable thereon. At the Trustees' discretion, any note, bond, contract, instrument, certificate or undertaking or any Series made or issued by the Trustees or by any officer or officers may give notice that the Certificate of Trust is on file in the Office of the Delaware Secretary of State and that a limitation on liability of Series exists and such note, bond, contract, instrument, certificate or undertaking may, if the Trustees so determine, recite that the same was executed or made on behalf of the Trust by a Trustee or Trustees in such capacity and not individually or by an officer or officers in such capacity and not individually and that the obligations of such instrument are not binding upon any of them or the Shareholders individually but are binding only on the assets and property of the Trust or a Series thereof, and may contain such further recital as such Person or Persons may deem appropriate. The omission of any such notice or recital shall in no way operate to bind any Trustees, officers or Shareholders individually.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Section 7.5 <u><u>Indemnification.</u></u>

(a) Subject to the exceptions and limitations contained in subsection (b) below;

(i) every person who is, or has been, a Trustee or an officer or employee of the Trust or is or was serving at the request of the Trust as a trustee, director, officer, employee or agent of another organization in which the Trust has any interest as a shareholder, creditor or otherwise ("Covered Person") shall be indemnified by the Trust and each Series to the fullest extent permitted by law, including the 1940 Act and the rules and regulations thereunder as amended from time to time and interpretations thereunder, against liability and against all expenses reasonably incurred or paid by him or her in connection with any claim, action, suit or proceeding in which he or she becomes involved as a party or otherwise by virtue of his or her being or having been a Covered Person and against amounts paid or incurred by him or her in the settlement thereof.

(ii) Subject to the provisions of this Section 7.5, each Covered Person shall, in the performance of his or her duties, be fully and completely justified and protected with regard to any act or any failure to act resulting from reliance in good faith upon the records, books and accounts of the Trust or, as applicable, any Series, upon an opinion or other advice of legal counsel, or upon reports made or advice given to the Trust or, as applicable, any Series, by any Trustee or any of its officers, employees, or a service provider selected with reasonable care by the Trustees or officers of the Trust, regardless of whether the person rendering such report or advice may also be a Trustee, officer or employee of the Trust or, as applicable, any Series.

(iii) as used herein, the words "claim," "action," "suit" or "proceeding" shall apply to all claims, actions, suits or proceedings (civil, criminal, investigative or other, including appeals), actual or threatened, and the words "liability" and "expenses" shall include, without limitation, attorney's fees, costs, judgments, amounts paid in settlement, fines, penalties and other liabilities whatsoever.

(b) To the extent required under the 1940 Act and the rules and regulations thereunder as amended from time to time and interpretations thereunder, but only to such extent, no indemnification shall be provided hereunder to a Covered Person;

(i) who shall have been adjudicated by a court or body before which the proceeding was brought to be liable to the Trust or its Shareholders by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his or her office; or

(ii) in the event of a settlement, unless there has been a determination that such Covered Person did not engage in willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his or her office: (A) by the court or other body approving the settlement; (B) by at least a majority of those Trustees who are neither Interested Persons of the Trust nor are parties to the matter based upon a review of readily available facts (as opposed to a full trial-type inquiry); or (C) by written opinion of independent legal counsel based upon a review of readily available facts (as opposed to a full trial-type inquiry).

(c) The rights of indemnification herein provided may be insured against by policies maintained by the Trust, shall be severable, shall not be exclusive of or affect any other rights to which any Covered Person may now or hereafter be entitled, shall continue as to a person who has ceased to be such Covered Person and shall inure to the benefit of the heirs, executors and administrators of a Covered Person.

(d) To the extent that any determination is required to be made as to whether a Covered Person engaged in conduct for which indemnification is not provided as described herein, or as to whether there is reason to believe that a Covered Person ultimately will be found entitled to indemnification, the Person or Persons making the determination shall afford the Covered Person a rebuttable presumption that the Covered Person has not engaged in such conduct and that there is reason to believe that the Covered Person ultimately will be found entitled to indemnification.

(e) To the maximum extent permitted by applicable law, including Section 17(h) of the 1940 Act and the rules and regulations thereunder as amended from time to time and interpretations thereunder, expenses in connection with the preparation and presentation of a defense to any claim, action, suit or proceeding of the character described in subsection (a) of this Section 7.5, shall be paid by the Trust or the applicable Series from time to time prior to final disposition thereof upon receipt of an undertaking by or on behalf of such Covered Person that such amount will be paid over by him or her to the Trust or a Series, as applicable, if it is ultimately determined that he or she is not entitled to indemnification under this Section; provided, however, that any such advancement will be made in accordance with any conditions required by the Commission. The advancement of any expenses pursuant to this Section 7.5(e) shall under no circumstances be considered a "loan" under the Sarbanes-Oxley Act of 2002, as amended from time to time, or for any other reason.

**4**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(f) Any repeal or modification of this Article VII or adoption or modification of any other provision of this Declaration of Trust inconsistent with this Article shall be prospective only to the extent that such repeal or modification would, if applied retrospectively, adversely affect any limitation on the liability of any Covered Person or indemnification or right to advancement of expenses available to any Covered Person with respect to any act or omission that occurred prior to such repeal, modification or adoption.

(g) Notwithstanding any other provision in this Declaration of Trust to the contrary, any liability and/or expense against which any Covered Person is indemnified under this Section 7.5 and any advancement of expenses that any Covered Person is entitled to be paid under Section 7.5(e) shall be deemed to be joint and several obligations of the Trust and each Series, and the assets of the Trust and each Series shall be subject to the claims of any Covered Person therefor under this Article VII; provided that (a) any such liability, expense or obligation may be allocated and charged by the Trustees between or among the Trust and/or any one or more Series (and Classes) in such manner as the Trustees in their sole discretion deem fair and equitable; and (b) the Trustees may determine that any such liability, expense or obligation should not be allocated to one or more Series (and Classes), and such Series or Classes shall not be liable therefor as provided under Section 3.6(a) and (b).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Section 7.6 <u><u>Further Indemnification.</u></u> Nothing contained herein shall affect any rights to indemnification to which any Covered Person or other Person may be entitled by contract or otherwise under law or prevent the Trust from entering into any contract to provide indemnification to any Covered Person or other Person. Without limiting the foregoing, the Trust may, in connection with any transaction permitted by this Declaration of Trust, including the acquisition of assets subject to liabilities or a merger or consolidation pursuant to Section 8.3 hereof, assume the obligation to indemnify any Person including a Covered Person or otherwise contract to provide such indemnification, and such indemnification shall not be subject to the terms of this Article VII unless otherwise required under applicable law.

*Numbered Paragraph 10 of the Management Agreement provides that:*

10. <u><u>Limitation of Liability of the Manager.</u></u> The Manager shall not be liable for any error of judgment or mistake of law or for any loss suffered by the Trust or any Fund in connection with the matters to which this Agreement relate except a loss resulting from the willful misfeasance, bad faith or gross negligence on its part in the performance of its duties or from reckless disregard by it of its obligations and duties under this Agreement. Any person, even though also an officer, partner, employee, or agent of the Manager, who may be or become an officer, Board member, employee or agent of the Trust shall be deemed, when rendering services to the Trust or acting in any business of the Trust, to be rendering such services to or acting solely for the Trust and not as an officer, partner, employee, or agent or one under the control or direction of the Manager even though paid by it. The U.S. federal and state securities laws impose liabilities on persons who act in good faith, and, therefore, nothing in this Agreement is intended to limit the obligations of the Manager under such laws. This Paragraph 10 does not in any manner preempt any separate written indemnification commitments made by the Manager with respect to any matters encompassed by this Agreement.

*Numbered Paragraph 9 of the Investment Advisory Agreement with Aristotle Capital Management, LLC provides that:*

9. <u><u>Liability of Adviser.</u></u> The Adviser shall have no liability to the Trust, its shareholders or any third party arising out of or related to this Agreement, provided however, the Adviser agrees to indemnify and hold harmless, the Manager, any affiliated person within the meaning of Section 2(a)(3) of the Investment Company Act, and each person, if any, who, within the meaning of Section 15 of the Securities Act, controls the Manager, against any and all losses, claims, damages, liabilities or litigation (including reasonable legal and other expenses), to which the Manager or such affiliated person or controlling person may become subject under the securities laws, any other federal or state law, at common law or otherwise, arising out of the Adviser's responsibilities to the Trust which may be based upon any willful misfeasance, bad faith, gross negligence, or reckless disregard of, the Adviser's obligations and/or duties under this Agreement by the Adviser or by any of its directors, officers, employees, agents, or any affiliate acting on behalf of the Adviser. The indemnification in this Section shall survive the termination of this Agreement.

*Numbered Paragraph 9 of the Investment Advisory Agreement with Barrow, Hanley, Mewhinney & Strauss, LLC provides that:*

9. <u><u>Liability of Adviser.</u></u> The Adviser shall have no liability to the Trust, its shareholders or any third party arising out of or related to this Agreement except with respect to claims which occur due to any willful misfeasance, bad faith, or gross negligence in the performance of its duties or the reckless disregard of its obligations under this Agreement.

*Numbered Paragraph 11 of the Investment Advisory Agreement with Brandywine Global Investment Management, LLC provides that:*

11. <u><u>Liability of Advis</u></u>er. The Adviser shall have no liability to the Trust, its shareholders or any third party arising out of or related to this Agreement except with respect to claims which occur due to any willful misfeasance, bad faith, or gross negligence in the performance of its duties or the reckless disregard of its obligations under this Agreement.

*Numbered Paragraph 9 of the Investment Advisory Agreement with Hotchkis and Wiley Capital Management, LLC provides that:*

9. <u><u>Liability of Adviser.</u></u> No provision of this Agreement shall be deemed to protect the Adviser against any liability to the Trust or its shareholders to which it might otherwise be subject by reason of any willful misfeasance, bad faith, or gross negligence in the performance of its duties or the reckless disregard of its obligations under this Agreement.

*Numbered Paragraph 8 of the Investment Advisory Agreement with Lazard Asset Management LLC provides that:*

8. <u><u>Liability of Adviser.</u></u> No provision of this Agreement shall be deemed to protect the Adviser against any liability to the Trust or its shareholders to which it might otherwise be subject by reason of any willful misfeasance, bad faith, or gross negligence in the performance of its duties or the reckless disregard of its obligations under this Agreement.

*Numbered Paragraph 9 of the Investment Advisory Agreement with WCM Investment Management, LLC provides that:*

9. <u><u>Liability of Adviser.</u></u> The Adviser shall have no liability to the Trust, its shareholders or any third party arising out of or related to this Agreement, provided however, the Adviser agrees to indemnify and hold harmless, the Manager, any affiliated person within the meaning of Section 2(a)(3) of the Investment Company Act, and each person, if any, who, within the meaning of Section 15 of the Securities Act, controls the Manager, against any and

**5** 

------

all losses, claims, damages, liabilities or litigation (including reasonable legal and other expenses), to which the Manager or such affiliated person or controlling person may become subject under the securities laws, any other federal or state law, at common law or otherwise, arising out of the Adviser's responsibilities to the Trust which may be based upon any willful misfeasance, bad faith, gross negligence, or reckless disregard of, the Adviser's obligations and/or duties under this Agreement by the Adviser or by any of its directors, officers, employees, agents, or any affiliate acting on behalf of the Adviser. The indemnification in this Section shall survive the termination of this Agreement.

*Supplemental Limited Indemnification from the Manager*

ABA shall indemnify and hold harmless Indemnitee, in his or her individual capacity, from and against any cost, asserted claim, liability or expense, including reasonable legal fees (collectively, "Liability") based upon or arising out of (i) any duty of ABA under the Management Agreement (including ABA's failure or omission to perform such duty), and (ii) any liability or claim against Indemnitee arising pursuant to Section 11 of the Securities Act of 1933, as amended, Rule 10b-5 under the Securities Exchange Act of 1934, as amended, and any similar or related federal, state or common law statutes, rules or interpretations. ABA's indemnification obligations under this Letter Agreement shall be limited to civil and administrative claims or proceedings.

**Item 31.**

**I. Business and Other Connections of Investment Manager**

**American Beacon Advisors, Inc. (the "Manager")** offers investment management and administrative services to the Registrant. It acts in the same capacity to other investment companies, including those listed below.

Set forth below is information as to any other business, profession, vocation or employment of a substantial nature in which each officer and director of American Beacon Advisors, Inc. is, or at any time during the past two fiscal years has been, engaged for his/her own account or in the capacity of director, officer, employee, partner or trustee.

---

| | |
|:---|:---|
| **Name; Current Position with American Beacon Advisors, Inc.** | **Other Substantial Business and Connections** |
| Sonia L. Bates; Assistant Treasurer | Principal Accounting Officer and Treasurer, American Beacon Funds Complex; Director, Fund and Tax Reporting, Resolute investment Services, Inc.; Assistant Treasurer, American Private Equity Management, LLC; Assistant Treasurer, American Beacon Cayman Transformational Innovation Company, Ltd.; Treasurer, American Beacon Cayman Managed Futures Strategy Fund, Ltd.; Treasurer, American Beacon Cayman TargetRisk Company, Ltd. |
| Rosemary K. Behan; Senior Vice President, Secretary and General Counsel | Vice President, Secretary, and Chief Legal Officer, American Beacon Funds Complex; Secretary, Resolute Investment Holdings, LLC; Secretary, Resolute Topco, Inc.; Secretary, Resolute Acquisition, Inc.; Senior Vice President, Secretary, and General Counsel, Resolute Investment Managers, Inc.; Secretary, Resolute Investment Distributors, Inc.; Senior Vice President, Secretary, and General Counsel, Resolute Investment Services, Inc.; Secretary, American Private Equity Management, L.L.C.; Vice President and Secretary, Continuous Capital, LLC; Secretary, American Beacon Cayman Managed Futures Strategy Fund, Ltd.; Secretary, American Beacon Cayman TargetRisk Company, Ltd. |
| Melinda S. Blackwill; Assistant Treasurer and Controller | Assistant Treasurer and Controller, Resolute Investment Managers, Inc.; Assistant Treasurer and Controller, Resolute Investment Services, Inc.; Assistant Treasurer, Continuous Capital, LLC |
| Paul B. Cavazos; Senior Vice President and Chief Investment Officer | Vice President, American Beacon Funds Complex; Vice President, American Private Equity Management, L.L.C. |
| Christopher L. Collins; Director | Director and Vice President, Resolute Investment Holdings, LLC; Director and Vice President, Resolute Topco, Inc.; Director and Vice President, Resolute Acquisition, Inc.; Director and Vice President, Resolute Investment Managers, Inc.; Director, Resolute Investment Services, Inc.; Manager, American Private Equity Management, L.L.C. |
| Erica B. Duncan; Vice President, Marketing | Vice President, American Beacon Funds Complex; Vice President, Marketing, Resolute Investment Managers, Inc.; Vice President, Marketing, Resolute Investment Services, Inc. |
| Stephen C. Dutton; Director | Director and Vice President, Resolute Investment Holdings, LLC; Director and Vice President, Resolute Topco, Inc.; Director and Vice President, Resolute Acquisition, Inc.; Director and Vice President, Resolute Investment Managers, Inc.; Director, Resolute Investment Services, Inc.; Manager, American Private Equity Management, L.L.C. |
| Rebecca L. Harris; Senior Vice President, Product Management and Corporate Development | Vice President, American Beacon Funds Complex; Senior Vice President, Resolute Investment Managers, Inc.; Senior Vice President, Resolute Investment Services, Inc.; Director and Vice President, Continuous Capital, LLC; Director, National Investment Services of America, LLC; Director, RSW Investments Holdings LLC; Director, Shapiro Capital Management LLC; Director, SSI Investment Management LLC |

---

**6**

------

---

| | |
|:---|:---|
| **Name; Current Position with American Beacon Advisors, Inc.** | **Other Substantial Business and Connections** |
| Melinda G. Heika; Senior Vice President, Treasurer and Chief Financial Officer | Vice President, American Beacon Funds Complex; Treasurer, Resolute Investment Holdings, LLC; Treasurer, Resolute Topco, Inc.; Treasurer, Resolute Acquisition, Inc.; Senior Vice President and Treasurer, Resolute Investment Managers, Inc.; Senior Vice President and Treasurer, Resolute Investment Services, Inc.; Treasurer, American Private Equity Management, L.L.C.; Treasurer, Continuous Capital, LLC; Director and Vice President, American Beacon Cayman Managed Futures Strategy Fund, Ltd.; Director and Vice President, American Beacon Cayman TargetRisk Company, Ltd. |
| Michael D. Jiang; Assistant Secretary and Associate General Counsel | Assistant Secretary, American Beacon Funds Complex; Assistant Secretary and Associate General Counsel, Resolute Investment Managers, Inc.; Assistant Secretary and Associate General Counsel, Resolute Investment Services, Inc.; Assistant Secretary, Resolute Investment Distributors, Inc. |
| Terri L. McKinney; Senior Vice President, Enterprise Services | Vice President, American Beacon Funds Complex; Senior Vice President, Enterprise Services, Resolute Investment Managers, Inc.; Senior Vice President, Enterprise Services, Resolute Investment Services, Inc.; Vice President, Continuous Capital, LLC |
| Takashi B. Moriuchi; Director | Director, Resolute Investment Holdings, LLC; Director, Resolute Topco, Inc.; Director, Resolute Acquisition, Inc.; Director, Resolute Investment Managers, Inc.; Director, Resolute Investment Services, Inc.; Manager, American Private Equity Management, L.L.C. |
| Teresa A. Oxford; Assistant Secretary and Associate General Counsel | Assistant Secretary, American Beacon Funds Complex; Assistant Secretary and Associate General Counsel, Resolute Investment Managers, Inc.; Assistant Secretary and Associate General Counsel, Resolute Investment Services, Inc.; Assistant Secretary, Continuous Capital, LLC |
| Bo Ragsdale; Vice President, Information Technology | Vice President, Information Technology, Resolute Investment Managers, Inc., Vice President, Information Technology, Resolute Investment Services, Inc. |
| Jeffrey K. Ringdahl; Director, President and Chief Executive Officer | President, American Beacon Funds Complex; Director and President, Resolute Investment Holdings, LLC; Director and President, Resolute Topco, Inc.; Director and President, Resolute Acquisition, Inc.; Director, President, and CEO, Resolute Investment Managers, Inc.; Director, President, and CEO, Resolute Investment Distributors, Inc.; Director, President, and CEO, Resolute Investment Services, Inc.; Manager and President, American Private Equity Management, L.L.C.; Director, Shapiro Capital Management LLC; Director and Executive Vice President, Continuous Capital, LLC; Director and President, American Beacon Cayman Managed Futures Strategy Fund, Ltd.; Director and President, American Beacon Cayman TargetRisk Company, Ltd.; Director, RSW Investment Holdings LLC; Manager, SSI Investment Management LLC; Director, National Investment Services of America, LLC |
| Christina E. Sears; Vice President and Chief Compliance Officer | Chief Compliance Officer and Assistant Secretary, American Beacon Funds Complex; Vice President and Chief Compliance Officer, Resolute Investment Managers, Inc.; Vice President, Resolute Investment Distributors, Inc.; Vice President and Chief Compliance Officer, Resolute Investment Services, Inc.; Chief Compliance Officer, American Private Equity Management, L.L.C.; Vice President, Continuous Capital, LLC; Chief Compliance Officer, RSW Investments Holdings LLC |
| Samuel J. Silver; Vice President and Chief Fixed Income Officer | Vice President, American Beacon Funds Complex |
| Claire L. Stervinou; Assistant Treasurer and Corporate Tax Manager | Assistant Treasurer, Resolute Investment Managers, Inc.; Assistant Treasurer, Resolute Investment Services, Inc.; Assistant Treasurer, American Private Equity Management, L.L.C. |
| Gregory Stumm; Senior Vice President | Vice President, American Beacon Funds Complex; Senior Vice President, Resolute Investment Managers, Inc.; Senior Vice President, Resolute Investment Services, Inc.; Senior Vice President, Resolute Investment Distributors, Inc. |

---

The principal address of each of the entities referenced above, other than, National Investment Services of America, LLC, RSW Investment Holdings LLC, Shapiro Capital Management LLC and SSI Investment Management LLC, is 220 East Las Colinas Blvd., Suite 1200, Irving, Texas 75039. The principal address of National Investment Services of America, LLC is 777 E. Wisconsin Avenue, Suite 2350, Milwaukee, Wisconsin 53202. The principal address of RSW Investment Holdings LLC is 47 Maple Street, Suite 304, Summit, New Jersey 07901. The principal address of Shapiro Capital Management LLC is 3060 Peachtree Road NW #1555, Atlanta, Georgia 30305. The principal address of SSI Investment Management LLC is 9440 Santa Monica Blvd, 8th Floor, Beverly Hills, California 90210.

**II. Business and Other Connections of Investment Advisers**

The investment advisers listed below provide investment advisory services to the Trust.

**American Beacon Advisors, Inc.**, 220 East Las Colinas Blvd., Suite 1200, Irving, TX 75039.

**7** 

------

**Aristotle Capital Management, LLC ("Aristotle")** is a registered investment adviser and is an investment sub-advisor for the American Beacon Diversified Fund. The principal address of Aristotle is 11100 Santa Monica Boulevard, Suite 1700, Los Angeles, CA 90025. Information as to the officers and directors of Aristotle is included in its Form ADV, as filed with the Securities and Exchange Commission ("SEC") (CRD number 109876), and is incorporated herein by reference.

**Barrow, Hanley, Mewhinney & Strauss, LLC ("Barrow")** is a registered investment adviser and is an investment sub-advisor for the American Beacon Diversified Fund, as well as American Beacon Balanced Fund, American Beacon Large Cap Value Fund, American Beacon Mid-Cap Value Fund and American Beacon Small Cap Value Fund, which are series of American Beacon Funds. The principal business address of Barrow is 2200 Ross Avenue, 31st Floor, Dallas, TX 75201-2761. Information as to the officers and directors of Barrow is included in its Form ADV, as filed with the SEC (CRD number 105519), and is incorporated herein by reference.

**Brandywine Global Investment Management, LLC ("Brandywine")** is a registered investment adviser and is an investment sub-advisor for the American Beacon Diversified Fund, as well as American Beacon Small Cap Value Fund, which is a series of American Beacon Funds. The principal address of Brandywine is 1735 Market Street, Suite 1800, Philadelphia, PA 19103. Information as to the officers and directors of Brandywine is included in its Form ADV, as filed with the SEC (CRD number 110783), and is incorporated herein by reference.

**Hotchkis and Wiley Capital Management, LLC ("Hotchkis")** is a registered investment adviser and is an investment sub-advisor for the American Beacon Diversified Fund, as well as American Beacon Balanced Fund, American Beacon Large Cap Value Fund, and American Beacon Small Cap Value Fund, which are series of American Beacon Funds. The principal address of Hotchkis is 601 South Figueroa Street, 39th Floor, Los Angeles, CA 90017-5439. Information as to the officers and directors of Hotchkis is included in its Form ADV, as filed with the SEC (CRD number 114649), and is incorporated herein by reference.

**Lazard Asset Management, LLC ("Lazard")** is a registered investment adviser and is an investment sub-advisor for the American Beacon Diversified Fund, as well as American Beacon International Equity Fund, which is a series of American Beacon Funds. The principal address of Lazard is 30 Rockefeller Plaza, 55th Floor, New York, NY 10112. Information as to the officers and directors of Lazard is included in its Form ADV, as filed with the SEC (CRD number 122836), and is incorporated herein by reference.

**WCM Investment Management LLC ("WCM")** is a registered investment adviser and is an investment sub-advisor for the American Beacon Diversified Fund. The principal address for WCM is 281 Brooks Street, Laguna Beach, CA 92651. Information as to the Officers and Directors of WCM is included in its Form ADV, as filed with the SEC (CRD number 104702) and is incorporated herein by reference.

**Item 32. Principal Underwriter**

Not applicable.

**Item 33. Location of Accounts and Records**

The books and other documents required by Section 31(a) under the Investment Company Act of 1940 are maintained in the physical possession of 1) the Trust's custodian and fund accounting agent at State Street Bank and Trust Company, 225 Franklin Street, Boston, Massachusetts 02110; 2) the Manager at American Beacon Advisors, Inc., 220 East Las Colinas Blvd., Suite 1200, Irving, Texas 75039; 3) the Trust's transfer agent, DST Asset Manager Solutions, Inc., 330 West 9th St., Kansas City, Missouri 64105; 4) Mastercraft, 3021 Wichita Court, Fort Worth, Texas 76140; or 5) the Trust's investment advisers at the addresses listed in Item 31 above.

**Item 34. Management Services**

Not applicable.

**Item 35. Undertakings**

Not applicable.

**8**

------

**SIGNATURES**

Pursuant to the requirements of the Investment Company Act of 1940, as amended, the Registrant has duly caused this Amendment No. 27 to its Registration Statement on Form N-1A to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Irving and the State of Texas, on January 31, 2023.

AMERICAN BEACON INSTITUTIONAL FUNDS TRUST

---

| | |
|:---|:---|
| By: | /s/ Jeffrey K. Ringdahl |
|  | Jeffrey K. Ringdahl |
|  | President |

---

**9** 

------

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Type** | **Description** |

---

**10**