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AllianceBernstein Global Bond Fund (ANAGX) Learn More

Goal: Outperform Broad
Bond Market
Core
Stability
High Income

AllianceBernstein High Income Fund (AGDAX) Learn More

Core
Goal: Generate a High
Level of High Income
Stability
High Income

AllianceBernstein Intermediate Diversified Muni (AIDAX) Learn More

Core
Goal: Real
After-Tax Returns
Stability
High Income

AllianceBernstein Muni Bond Inflation (AUNAX) Learn More

Core
Goal: Real
After-Tax Returns
Stability
High Income

AllianceBernstein Muni Income National (ALTHX) Learn More

Goal: Outperform Broad
Bond Market
Core
Stability
High Income

AllianceBernstein High Income Municipal (ABTHX) Learn More

Core
Goal: Generate a High
Level of High Income
Stability
High Income

AllianceBernstein Tax Aware SMA Learn More

Goal: Outperform Broad
Bond Market
Core
Stability
High Income

Lipper Quartile Rankings Class A as of Sept. 30, 2013

AllianceBernstein Funds/Inception Date 1-Year 5-Year 10-Year/
Since Inception
Taxable Bonds
Global Bond Fund (3/27/92) ANAGX
Lipper Global Income Funds
2
98/200
2
42/113
1
2/76
High Income Fund (2/25/94) AGDAX
Lipper High Current Yield Funds
2
158/540
1
5/392
1
2/263
AllianceBernstein High Income Fund is the winner of High Yield Funds Category for 2013
Municipals
Municipal Income Fund National Portfolio (12/29/86) ALTHX
Lipper General Municipal Debt Funds
2
125/257
2
75/207
1
21/161

WHEN A FIXED INCOME
INVESTOR SENDS OUT AN SOS,
WE ANSWER THE CALL.

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Past performance does not guarantee future results.

Rankings are based on total returns at net asset value and do not include the effect of each Fund’s sales charge. Results would have been less favorable had sales charges been included. Each fund is ranked within its respective Lipper universe, which includes funds that have generally similar investment objectives to the AllianceBernstein Fund. Rankings shown are for Class A shares only, although other share classes are available for which management fees and sales charges will differ and rankings may vary. Investors can’t invest directly in indices or averages, and their performance does not represent the performance of any AllianceBernstein mutual fund.

Source: Lipper Inc. and AllianceBernstein

[1] Lipper Award 2013 was based on returns at NAV as of November 30, 2012

There is no assurance that a separately managed account will achieve its investment objective. Separately managed accounts are subject to market risk, the market values of securities owned will fluctuate so that your investment, when redeemed, may be worth more or less than its original cost.

Investors should consider the investment objectives, risks, charges and expenses of the Fund/Portfolio carefully before investing. For copies of our prospectus or summary prospectus, which contain this and other information, visit us online at www.alliancebernstein.com or contact your AllianceBernstein Investments representative. Please read the prospectus and/or summary prospectus carefully before investing.

A Word About Risk

Credit Risk: A bond’s credit rating reflects the issuer’s ability to make timely payments of interest or principal—the lower the rating, the higher the risk of default. If the issuer’s financial strength deteriorates, the issuer’s rating may be lowered and the bond’s value may decline.

Interest-Rate Risk: As interest rates rise, bond prices fall and vice versa - long-term securities tend to rise and fall more than short-term securities.

Below Investment Grade Securities Risk: Investments in fixed-income securities with lower ratings (commonly known as “junk bonds”) tend to have a higher probability that an issuer will default or fail to meet its payment obligations.

Market Risk: The market values of the portfolio’s holdings rise and fall from day to day, so investments may lose value.

Inflation Risk: Prices for goods and services tend to rise over time, which may erode the purchasing power of investments.

Derivatives Risk: Investing in derivative instruments such as options, futures, forwards or swaps can be riskier than traditional investments, and may be more volatile, especially in a down market.

Municipal Market Risk: Debt securities issued by state or local governments may be subject to special political, legal, economic and market factors that can have a significant effect on the portfolio’s yield or value.

Investment Products Offered: Are Not FDIC Insured | May Lose Value | Are Not Bank Guaranteed

AllianceBernstein Investments, Inc. (ABI) is the distributor of the AllianceBernstein family of mutual funds. ABI is a member of FINRA and is an affiliate of AllianceBernstein L.P., the manager of the funds.

AllianceBernstein® and the AB logo are registered trademarks and service marks used by permission of the owner, AllianceBernstein L.P.

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