Investing in Business, Not Science

AB International Health Care Portfolio

Healthcare stocks benefit from long-term thematic trends that don’t depend on macroeconomic growth. These include efforts to mitigate the impact of disease through therapeutics, technology and services that span people to pets. Scientific progress is opening doors to new treatments while reducing costs. And demand for healthcare tends to transcend cyclical turns in the economy.

Pharmaceutical groups, medical device manufacturers and healthcare providers are benefiting from big trends that can help fuel long-term returns for investors who are skilled at deciphering the complex forces shaping the sector.

AB’s International Health Care Portfolio focuses on quality businesses across the healthcare sector, including drug development, diagnostics, robotics and services. Since investors have no insight into the probability of scientific success, we don’t focus on scientific breakthroughs. Instead, our philosophy focuses on investing in high quality businesses that can reinvest profitably for long-term, durable growth.

Why AB International Health Care Portfolio?

Focus on Business, Not Science

We focus on the business and do not try to predict medical science or research results, instead investing in what we believe to be the very best businesses.

High Quality Businesses

We look for capital efficiency and strong reinvestment rates to achieve quality compounding. Targeting businesses that aim to provide better healthcare outcomes, help to drive cost savings in the system and generate profits for the company.

Risk Management

Portfolio risk is balanced around multiple companies, as opposed to only a few stocks delivering extreme individual performance. We seek to mitigate the downside and participate on the upside, in an effort to deliver consistent long-term returns.

The value of an investment may fall as well as rise and an investor may not get back the full amount invested. Capital at risk.
There is no guarantee that the fund will achieve its investment objectives.

Fund risks: Equities Securities Risk, Derivatives Risk, Concentration Risk, Allocation Risk, Emerging-Markets Risk, Focused Portfolio Risk, OTC Derivatives Counterparty Risk and Portfolio Turnover Risk. These and other risks are described in the Fund’s Prospectus and Key Investor Information Document (KIID).

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An Innovative Healthcare Sector Could be Growthier than Meets the Eye

Vinay Thapar explains why mid- and large-cap healthcare companies create an ideal match of sustainable business models and technological innovations, creating a compelling combination of defensiveness and growth.

Meet Our Team

The AB International Health Care Portfolio managers are supported by a dedicated team of analysts and researchers offering deep experience and global perspectives.

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The AB International Health Care Portfolio is a sub-fund of AB SICAV I, an open-ended investment company with variable capital (société d’investissement à capital variable) incorporated under the laws of the Grand Duchy of Luxembourg.

The sale of AB funds may be restricted or subject to adverse tax consequences in certain jurisdictions. This information is directed solely at persons in jurisdictions where the funds and relevant share class are registered or at those who may otherwise lawfully receive it. Before investing, investors should review the Fund’s full Prospectus, together with the Fund’s KIID or KID and the most recent financial statements. Copies of these documents, including the latest annual report and, if issued thereafter, the latest semiannual report, may be obtained free of charge from AllianceBernstein (Luxembourg) S.à r.l. by visiting www.alliancebernstein.com or www.eifs.lu/alliancebernstein, or in printed form by contacting the local distributor in the jurisdictions in which the funds are authorised for distribution.

This is a marketing communication. This information is provided by AllianceBernstein Limited, 60 London Wall, London, EC2M 5SJ. Registered in England, No. 2551144. AllianceBernstein Limited is authorised and regulated in the UK by the Financial Conduct Authority (FCA - Reference Number 147956). It is provided for informational purposes only and does not constitute investment advice or an invitation to purchase any security or other investment. 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 investments in any of the Funds can go down as well as up and investors may not get back the full amount invested. Past performance does not guarantee future results. This information is directed at Professional Clients only and is not intended for public use.