Overview

A globally diversified portfolio that takes full advantage of our best research ideas by pursuing high-income opportunities across all fixed-income sectors

About this Fund

  • Seeks high current income, and secondarily-capital appreciation
  • Our research shows that a global multi-sector approach allows us to achieve a favorable balance of risk and return potential compared with a single-sector portfolio
  • The portfolio’s risk level is adjusted depending on how well investors are being compensated-we seek extra income during favorable markets, while we reduce risk in times of caution
  • Uses a consistent and repeatable investment process that combines quantitative and fundamental research to build effective bond portfolios

Investment Approach

  • Invests primarily (and without limit) in corporate debt securities from US and non-US issuers, as well as government bonds from both developing and developed countries, including the US
  • May invest in debt securities denominated in US dollars or Non-US currencies
  • Under normal market conditions, invests substantially all of the Fund’s net assets in lower-rated bonds, but may also invest in investment-grade and unrated debt securities

Meet the Team

We’re constantly reinventing ourselves. We don’t just sit still. We adapt to new information so we can find new factors that work.

Gershon M. Distenfeld, CFA—Co-Head—Fixed Income; Director-Credit

 
Strategic Approach

Invest for Efficient Income

Looking for more information about efficient income strategies? Explore our other products and thought leadership. 

 
 

Investment Definitions

Alpha is the risk-adjusted measurement of "excess return" over a benchmark. Beta is a measure of an investment’s volatility in comparison to the market as a whole. Duration is a measure of the sensitivity of an asset or portfolio’s price to interest rate movements. Information ratio is a measurement of portfolio returns beyond the returns of a benchmark, compared to the volatility of those returns. R-squared is the percentage of a portfolio’s price movements that can be explained by movements in a benchmark index. Sharpe ratio is a measure of the fund’s return relative to the investment risk it has taken. A higher Sharpe ratio means the fund’s returns have been better given the level of risk the fund has taken. Standard deviation is a measure of the dispersion of a portfolio’s return from its mean. Tracking error is the difference in actual performance between a portfolio and its corresponding benchmark. Up capture measures the percentage of market gains captured when markets are up. Down capture measures the percentage of market losses endured when markets are down. Yield-to-Worst (YTW) is a measure of the lowest possible yield that can be received on a bond that fully operates within the terms of its contract without defaulting. YTW is based on the underlying bonds held by the fund/account at the time it is calculated.

Risks To Consider

  • 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 our Literature Center or contact your AB representative. Please read the prospectus and/or summary prospectus carefully before investing.

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

    AB mutual funds may be offered only to persons in the United States and by way of a prospectus. This website should not be considered a solicitation or offering of any investment products or services to investors residing outside of the United States.

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

    The [A/B] logo is a registered service mark of AllianceBernstein and AllianceBernstein® is a registered service mark used by permission of the owner, AllianceBernstein L.P..


 

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