American Beacon Bridgeway Lg Cp Val A BWLAX

American Beacon Bridgeway Large Cap Value’s Morningstar Rating is Under Review owing to an upcoming subadvisor change, effective May 1, 2024. Outgoing subadvisor Bridgeway Capital Management has been this fund’s sole subadvisor since its 2003 inception. Despite a streak of excellent results in the wake of the global financial crisis, performance struggled mightily in recent years as the fund lagged the Russell 1000 Value Index and large-value Morningstar Category average in every calendar year since 2018. Amid the underperformance, assets dwindled from over $5 billion in 2018 to less than $300 million currently. The strategy’s new subadvisor is Numeric Investors, a Boston-based affiliate of Man Group. Numeric will use a proprietary quantitative model to select stocks for this fund, which will also get a new name: American Beacon Man Large Cap Value.