A closed-end fund (CEF) is a pooled investment vehicle that holds a mix of underlying assets and is traded on an exchange or secondary market. Closed-end funds have a fixed number of shares and do not continuously offer or redeem shares. Investors buy and sell shares from other investors, and the fund's share price can trade at a premium or discount to its net asset value (NAV).
Investor allocates $500,000 to an AB Closed-End Fund specializing in municipal bonds.
AB pairs active research with disciplined risk management across investment vehicles designed for how you prefer to invest. We align the wrapper—liquidity, customization, and tax profile—to the underlying strategy, so that the structure serves the strategy.
AB’s closed-end funds provide professionally managed access to equity, income and multi-asset strategies within a listed structure. By using permanent capital, managers can pursue opportunities without daily redemptions, which supports long-term positioning.
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.
The market price is the price at which a fund’s shares are traded on an exchange. Because a closed-end exchange-traded fund’s shares trade in the stock market based on investor demand, the fund may trade at a price higher or lower than its NAV.
There can be no assurance that any investment vehicle or strategy will achieve its investment objectives. 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.