Multi-Manager Select
Retirement Funds

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Joining Forces to Offer a Better Target-Date Solution

  • Largest US custom target-date solution provider* with $46 billion in assets under management†
  • Over a decade of experience in target-date design and innovation
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  • Global leader in independent investment research, with more than $203 billion in assets under management and advisement globally with over 90 investment analysts
  • Over three decades of experience in asset allocation, manager selection and portfolio construction
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Recently celebrating its three-year anniversary AB Multi-Manager Select Retirement Funds is a compelling suite of 11 target-date funds that addresses the challenges of traditional target-date design with the goal of building retirement income potential.
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Advanced Glide Path Design

Seek to maximize returns while managing risks with a well-diversified portfolio and dynamic risk management
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A Glide Path for All Seasons

One of the three main goals of the Multi-Manager Select Retirement Funds was to design an advanced glide path that carries participants through retirement and to source a broad range of asset classes to help reduce risk and generate uncorrelated return.

Multi-Manager Select Retirement Funds

Diversifies Beyond Traditional Asset Classes with:

  • Defensive equities
  • Equity/fixed-income diversifiers
  • Inflation-sensitive assets

Flexibly Responds to Changing Market Conditions

  • Focuses on risk reduction
  • Seeks to deliver more consistent returns

High-Level Glide Path

Glide Path Graph Glide Path Graph
For illustrative purposes only.
Source: AB
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Independent Manager Selection

Aim to select unbiased best-in-breed strategies through an open-architecture approach
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Who Picks Your Target-Date Investments?

Morningstar Investment Management LLC selects the underlying holdings for our target-date funds because it makes sense. Third-party investment selection coupled with open architecture helps provide unbiased selection for our Multi-Manager Select Retirement Funds. This strategy continues to support our goal of helping participants reach their retirement goals.

Multi-Manager Select Retirement Funds

Morningstar Investment Management's Fund Selection Added Value76% of the active underlying funds have outperformed their benchmarks, with an average excess return of 1.12%*

Outperformance by Active Underlying Funds
Relative to Benchmarks

Outperformance Bars

Average Excess Return Produced by Active Underlying Funds
Relative to Benchmarks

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As of December 31, 2017
*From January 2015 to December 2017

The performance shown represents past performance and does not guarantee future results. Current performance may be lower or higher than the performance information shown. You may obtain performance information current to the most recent month-end by visiting www.abfunds.com. The investment return and principal value of an investment in the Funds will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. Returns for other share classes will vary due to different charges and expenses. Performance assumes reinvestment of distributions and does not account for taxes. Fund returns for periods longer than one year are annualized.

Source: Morningstar
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Active/Passive Blend Portfolio

Strive to enhance risk-adjusted returns and manage costs with a mix of active and passive strategies
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Active or Passive? Why Not Both?

Morningstar Investment Management LLC has access to an unconstrained universe of mutual funds which allows analysts to find what they believe to be best-in-breed investment managers for each asset class within the glide path. The Multi-Manager Select Retirement Funds are composed of both active and passive investments, to seek enhanced risk-adjusted returns and help manage costs.

Multi-Manager Select Retirement Funds

Utilizes Active Strategies in Less-Efficient Markets for a Higher Chance of Outperformance

Active/Passive Mix of AB Multi-Manager Select Retirement Funds

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As of December 31, 2017
For illustrative purposes only. Diversification does not eliminate the risk of loss.
There can be no assurance that any investment objectives will be achieved.
Indices are used for comparison purposes only. An investor generally cannot invest in an index.
Source: AB
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Related Resources

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For complete standardized performance of all the underlying funds comprising this performance, please click HERE.

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 us online at www.abfunds.com or contact your AB representative. Please read the prospectus and/or summary prospectus carefully before investing.

Each fund is named for a “target date”—the approximate year when you expect to retire and start withdrawing from your account. Funds furthest from their target dates emphasize growth potential by investing almost entirely in equities. As investors move closer to—and into—retirement, the Funds automatically adjust to a more conservative asset mix. Investments in the AB Multi-Manager Select Retirement Funds are not guaranteed against loss of principal: at any time, your account value can be more or less than the original amount contributed—including at the time of the fund’s target date. Also, investing in the AB Multi-Manager Select Retirement Funds does not guarantee sufficient income in retirement.

Morningstar Investment Management LLC is a registered investment adviser and subsidiary of Morningstar, Inc. Morningstar Investment Management is acting as a sub-adviser to AllianceBernstein, L.P. with regard to the AB Multi-Manager Select Retirement FundsSM. Morningstar Investment Management is not affiliated with AB or its affiliates. The Morningstar name and logo are the property of Morningstar, Inc. “Morningstar” refers to Morningstar Investment Management LLC.

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 Adviser of the funds.

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.