ES AllianceBernstein Concentrated US Equity Fund

Concentrated portfolios can offer consistent alpha in today’s low-growth world. But how can a small number of US stocks deliver strong excess and risk-adjusted returns with consistency? The key is to identify companies that can deliver persistent growth through changing markets.

Past performance does not guarantee future results. The value of investments and the income from them will vary. Capital is at risk.

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What the Fund Offers

The ES AllianceBernstein Concentrated US Equity Fund aims to deliver attractive long-term capital growth by investing in a small number of high-quality US companies.

Attractive Growth Potential

Actively managed, concentrated portfolio of high-calibre US growth stocks
The Strategy* has consistently outperformed the S&P 500 Index over one, three, five and ten-year periods
High-conviction stock selection driven by AB’s experienced team with focused, in-depth research

Quality Over Quantity

Selectively invests in quality US companies with consistent revenue and stable earnings growth potential
Intensive, bottom-up fundamental research to identify businesses growing in excess of 10% p.a.
A small number of high-quality holdings like these can help underpin consistent long-term performance

Consistent Alpha

Proven track record of success, with consistent outperformance in both up and down markets
Powered by companies with the potential to innovate and grow faster than the market over three to five years
Risk-aware approach focusing on businesses with sustainable growth trajectories to reduce earnings volatility

Past performance does not guarantee future results. The value of investments and the income from them will vary. Capital is at risk.

AB also offers a SICAV Fund which follows a similar strategy to the OEIC fund.
View the Concentrated US Equity SICAV

Focussing on Quality Growth

How it Works

We believe that long-term, consistent earnings growth drives long-term investment returns.

Identifying Quality

We search for a select group of high-quality US companies with forward earnings growth potential of at least 10% per annum over five years. Companies with these characteristics are more likely to outperform the market. Our in-depth research targets superior businesses with consistent earnings streams.

Evaluating the Strongest Candidates

Then we create a shortlist of the most attractive stocks. Companies must have strong management, dominant franchises and businesses that can sustain growth through both good and challenging economic times. Strong balance sheets and low regulatory risk are also essential features.

Investing in the Best of the Best

For the final cut, we develop five-year projections and subject each company to a team debate about the right price to pay. Only those with the highest expected return and attractive valuations merit a high-conviction position in our portfolio, which span diverse industries.

The ESG Edge to Concentrated Equity Investing

Before choosing a responsible investing approach, investors often ask: will an ESG focus undermine returns? Instead we prefer to turn the question on its head and to ask whether there is a high-return investing approach that can help foster a portfolio with strong ESG characteristics.

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Portfolio Management Team

Benefits of Investing

Attractive Growth Potential

The Strategy* has consistently outperformed the MSCI World Index over one, three, five and ten-year periods
Quality Over Quantity

Selectively invests in high-quality companies with consistent revenue and earnings growth potential of more than 10% p.a.
Consistent Alpha

The Strategy* has a proven track record of success across different market environments
Investing in the Best of the Best

Highly concentrated global strategy of around 30 high-calibre growth stocks — carefully selected through focused, in-depth research
High Conviction Stock Selection

Driven by AB’s experienced team – with one of the industry’s highest “analyst to company” ratios and extensive global research resources

Past performance does not guarantee future results. The value of investments and the income from them will vary. Your capital is at risk.

*Based on performance of the institutional AB Concentrated US Growth Composite (the “Strategy”), gross of fees, in GBP. Although similar, the performance of the Strategy is not the same as that of the ES AllianceBernstein Concentrated US Equity Fund. The ES AllianceBernstein Funds are Sub Funds of ES AllianceBernstein UK OEIC, an open-ended investment company. Equity Trustees Fund Services Ltd is the authorised Corporate Director of the Funds. The Prospectus, Key Investor information Document and Annual reports are available from the, ACD's website, in English. Full GIPS composite performance disclosures for the Strategy are available on request. The returns presented above are gross of fees and do not reflect the deduction of investment-management fees: the client’s return will be reduced by the management fees and any other expense incurred in the management of their account. As of 31 March 2020.

Risks to Consider

Equity securities risk:

The value of equity investments may fall as well as rise and you may get back less than you originally invested
Liquidity risk:

In times of difficult market conditions it may be harder or take longer to sell assets. This may impact on the price of the assets and the value of the fund
Derivatives risk:

The Fund may use financial derivative instruments which may result in increased gains or losses
Other risks include:

Concentration risk, Counterparty & Custody Risk, Country Risk, Currency Risk, Illiquid or Restricted Securities Risk, Investment in Collective Investment Schemes Risk, Management Risk, Small and Mid-Cap Equity Risk

These and other risks are described in the Fund's prospectus, available from the Equity Trustees website

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.