Responsible Investments
Overview
Diverse portfolio of high-quality core municipal bonds focused on issuers that intend to make a positive environmental and/or social impact
About this Fund
- Leverages a powerful combination of municipal investing expertise and environmental, social, and governance research capabilities
- Distinctive design that helps solve income needs while delivering a positive impact at the local level
- The strategy’s track record has demonstrated that investing for purpose can deliver meaningful results over time
Investment Approach
- Diversified portfolio of individual high-quality core municipal bonds and a municipal impact completion fund, enhancing portfolio diversification and liquidity
- Focused on issuers that have a measurable environmental and/or social purpose
Meet the Team
Investment Insights
2025: Lessons on the Value of Proactive Tax Management in Muni SMAs
Munis are prized for their tax efficiency, but AB’s proactive tax management may unlock even more value for investors in separately managed accounts (SMAs). We believe systematic, year-round tax-loss harvesting is essential, especially in volatile markets like 2025. It’s been a case study in why waiting until year end to “rush” to market isn’t enough.
Additional Information
Investment Definitions
Alpha is the risk-adjusted measurement of "excess return" over a benchmark. Beta is a measure of an investment’s volatility in comparison to the market as a whole. Duration is a measure of the sensitivity of an asset or portfolio’s price to interest rate movements. Information ratio is a measurement of portfolio returns beyond the returns of a benchmark, compared to the volatility of those returns. R-squared is the percentage of a portfolio’s price movements that can be explained by movements in a benchmark index. Sharpe ratio is a measure of the fund’s return relative to the investment risk it has taken. A higher Sharpe ratio means the fund’s returns have been better given the level of risk the fund has taken. Standard deviation is a measure of the dispersion of a portfolio’s return from its mean. Tracking error is the difference in actual performance between a portfolio and its corresponding benchmark. Up capture measures the percentage of market gains captured when markets are up. Down capture measures the percentage of market losses endured when markets are down. Yield-to-Worst (YTW) is a measure of the lowest possible yield that can be received on a bond that fully operates within the terms of its contract without defaulting. YTW is based on the underlying bonds held by the fund/account at the time it is calculated.
Risks To Consider
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Market Risk: The market values of the portfolio’s holdings rise and fall from day to day, so investments may lose value.
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Past performance does not guarantee future results. There is no assurance that a separately managed account will achieve its investment objective.
Separately managed accounts are subject to market risk, the market values of securities owned will fluctuate so that your investment, when redeemed, may be worth more or less than its original cost.
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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