Current income with consideration of capital appreciation

Fund Overview

  • Global, multi-asset strategy focusing on generating high, stable income with capital growth
  • Led by a multi-asset team, with extensive experience creating solutions that integrate traditional and non-traditional return sources into desired outcomes
  • Our dedicated multi-asset portfolio teams utilize our rigorous quantitative research toolset in collaboration with our fundamental expertise across all regions and markets

Primary Investments

  • Global Fixed Income: high yield, investment-grade and sovereign bonds
  • Global Equities: high-dividend and high-quality equities and REITs
  • Non-Traditional: includes currency management and alternative asset classes and strategies

Management Team

Morgan C. Harting, CFA, CAIA

Portfolio Manager—Multi-Asset Solutions

Daniel Loewy, CFA

Chief Investment Officer and Head—Multi-Asset Solutions

The performance shown represents past performance and does not guarantee future results. Current performance may be lower or higher than the performance information shown. The investment return and principal value of an investment in the Portfolio will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. Performance assumes reinvestment of distributions and does not account for taxes.

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.

The net asset value (NAV) price is the value of one share of the Portfolio as of the date listed. The NAV does not take into account any initial sales charges that may apply when shares are purchased or redemption charges when shares are sold; if these sales charges were reflected, the Portfolio’s quoted performance would be lower. The NAV change is the change in value of one share of the Portfolio from the prior day’s value.

Total Returns
Peer Comparison

Class A annualized returns with sales charge reflect the deduction of the maximum 4.25% sales charge. Class B shares are subject to a contingent deferred sales charge equal to 4% in year 1, 3% in year 2, 2% in year 3, and 1% in year 4. Class C shares are subject to a 1-year, 1% contingent deferred sales charge. Returns for Advisor Class, Class R, Class K, Class I and Class 2 are at NAV and carry no front-end or contingent deferred sales charges. Returns for Class R shares are without the imposition of a sales charge that would apply if shares were purchased outside of a group retirement plan.

Performance for Classes R, K, I and Advisor shares prior to the share class’ inception date is simulated based on the historical performance of the Class A shares, adjusted for typical estimated expenses. Please note the inception dates for the Funds. As of January 31, 2009, Class B shares are no longer available for purchase by new investors. For additional information, see the Fund’s current prospectus.

If applicable, please keep in mind that high, double-digit returns are highly unusual and cannot be sustained. Investors should also be aware that these returns were primarily achieved during favorable market conditions. Fund returns are annualized for periods longer than one year. The NAV does not take into account any sales charges that may apply when shares are purchased or redeemed; if sales charges were reflected, the Fund’s quoted performance would be lower.

© Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

The Morningstar RatingTM for funds, or star rating, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. The star rating is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10.0% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35.0% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10.0% receive 1 star. The Overall Morningstar Rating™ for a managed product is derived from a weighted average of the performance figures associated with its three-, five- and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36–59 months of total returns, 60% five-year rating/40% three-year rating for 60–119 months of total returns and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Lipper ratings are based on total returns at net asset value, without the imposition of a sales charge, which would reduce total return figures. Funds in the Lipper category generally have similar investment objectives for the funds, although some may have different investment policies.

Net expense ratio, if applicable, reflects the contractual waiver of a portion of the Advisor’s fee and/or reimbursement of a portion of the Fund’s operating expenses. This waiver and/or reimbursement extends through a particular date, as specified in the Fund’s current prospectus, and may be further extended or terminated by the Advisor, as set forth in the prospectus. Absent waivers and/or reimbursements, performance would have been lower.

Distribution yield is calculated on a 30-day rolling basis by annualizing the average of the dividends distributed over the most recent 30-day period and dividing that figure by the current NAV. For the AB Bond Inflation Strategy Fund and the AB Municipal Bond Inflation Strategy Fund, distribution yield is calculated by annualizing the most recent monthly dividend distribution and dividing that figure by the current NAV. The distribution yield calculation does not include long-term or short-term capital gains distributions.

The reinvest price is the net asset value (NAV) price. The NAV price is the value of one share of the Fund as of the Ex Date. The NAV does not take into account any sales charges that may apply when shares are purchased or redeemed.

Holdings and characteristics shown include underlying investments of pooled vehicles.

The Fund’s/Portfolio’s holdings (including derivatives) are expressed as a percentage of total investments and may vary over time. They are provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned.

Risks To Consider

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

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.

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.

Allocation Risk: Allocating to different types of assets may have a large impact on returns if one of these asset classes significantly underperforms the others.

Foreign (Non-US) Risk: Non-US securities may be more volatile because of political, regulatory, market and economic uncertainties associated with such securities. Fluctuations in currency exchange rates may negatively affect the value of the investment or reduce returns. These risks are magnified in emerging or developing markets.

Currency Risk: Fluctuations in currency exchange rates may negatively affect the value of the Fund's investments or reduce its returns. Emerging market countries may be more volatile and less liquid, and subject to significantly greater risk of currency controls and convertibility restrictions, than currencies or developed countries.

Capitalization Size Risk: Holdings in smaller companies are often more volatile than holdings in larger ones.

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

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