Overview

Concentrated, high-quality non-US large- and mid-cap equity portfolio with high active share

About this Fund

  • Focuses on investing in high-quality non-US companies with strong growth potential and long-term profitability
  • Utilizes a bottom-up approach to identify businesses that can deliver attractive returns over time
  • Focuses on international companies with strong growth and quality characteristics driven by transformative shifts in technology, demographics, or global demand, aiming to hold them long-term to benefit from consistent high cash flows and earnings

Investment Approach

  • Holds approximately 40-60 stocks
  • Benchmark-agnostic and fully invested, with more than five-year investment horizon
  • Targets primarily non-US equity securities of highly profitable companies that are delivering structurally above-market earnings and cash flow growth through the business cycle
  • Uses fundamental research to pinpoint and uncover companies that should benefit from a sustainable competitive advantage for years to come
  • Forecasts long-term earnings power of each individual company to assess underlying value of each holding

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Equity

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Additional Information

Understanding Sales Charges and Expenses 
Statement of Policies and Procedures for Proxy Voting 
 

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. 

Risks To Consider

  • Capitalization Size Risk: Holdings in smaller companies are often more volatile than holdings in larger ones.

  • Emerging Market Risk: Investments in emerging market countries may have more risk because the markets are less developed and less liquid as well as being subject to increased economic, political, regulatory, or other uncertainties. 

  • Focused Portfolio Risk: Portfolios that hold a smaller number of securities may be more volatile than more diversified portfolios, since gains or losses from each security will have a greater impact on the portfolio’s overall value.

  • Foreign (Non-U.S.) Investment Risk: Investments in securities of non-U.S. issuers may involve more risk than those of U.S. issuers. These securities may fluctuate more widely in price and may be more difficult to trade than domestic securities due to adverse market, economic, political, regulatory, or other factors.

  • Market Risk: The market values of the portfolio’s holdings rise and fall from day to day, so investments may lose value. 

  • 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.

    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. 

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    Investment Products Offered: Are Not FDIC Insured | May Lose Value | Are Not Bank Guaranteed

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