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The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AB portfolio-management teams. Views are subject to revision over time.
Past performance does not guarantee future results.
2022 revisions are EPS revisions for the 12-month periods through December 31, 2022.
Economic downturn is represented by a trough in the Purchasing Managers Index (PMI), a measure of industrial production. Trough dates are: December 31, 2008; November 30, 2012; January 29, 2016; April 30, 2020. Trough date for 2023 is assumed at December 31, 2022, though the actual trough may not yet have been reached. Average is the average of EPS revisions over the 12 months prior to a PMI trough from December 2008 to December 2021.
As of December 31, 2022
Source: FactSet, MSCI and AllianceBernstein (AB)
Historical analysis and current forecasts do not guarantee future results.
QSP returns are for the quintile of stocks with highest Strategic Core Edge. Strategic Core Edge is the expected return from a proprietary model combining a number of quality, stability and price factors, with a ratio of approximately one-third for each quality, stability and price component. QSP technology returns are for the information technology stocks in the quintile of stocks with the highest Strategic Core Edge. An investor cannot invest directly in an index or average and they do not include sales charges or operating expenses associated with an investment in a mutual fund, which would reduce total returns.
As of December 31, 2022
Source: MSCI and AB
The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AB portfolio-management teams. Views are subject to revision over time.
MSCI makes no express or implied warranties or representations, and shall have no liability whatsoever with respect to any MSCI data contained herein.
This is a marketing communication. This information is provided by AllianceBernstein Schweiz AG, Zürich, a company registered in Switzerland under company number CHE-306.220.501. AllianceBernstein Schweiz AG is a financial service provider within the meaning of the Financial Services Act (FinSA) which is not subject to any prudential supervision in Switzerland. Further information on the company, its services and products, in accordance with Art. 8 FinSA can be found on the Important Disclosures page at www.alliancebernstein.com. It is provided for informational purposes only and does not constitute investment advice or an invitation to purchase any security or other investment nor is it a recommendation to subscribe to a financial service. The views and opinions expressed are based on our internal forecasts and should not be relied upon as an indication of future market performance. The value of an investment can go down as well as up and investors may not get back the full amount they invested. Capital is at risk. Past performance does not guarantee future results.
This information is directed at Qualified Investors only and is not intended for public use.