AB American Income Portfolio - AllianceBernstein
FACT SHEET as of 31/03/2016
AB American Income Portfolio1
Portfolio Objective and Strategy
The Portfolio seeks to provide a high level of current income consistent with preservation of capital by investing in a diversified portfolio of U.S. dollar-denominated fixed income securities. The Portfolio invests solely in U.S. dollar-denominated fixed income securities, including investment grade and high yield securities of issuers domiciled within and outside the U.S. Under normal market conditions, a minimum of 50% of the Portfolio assets will be invested in investment grade securities. At least 65% of the assets must be issued by issuers domiciled within the United States.
Profile*
Domicile: Luxembourg
Benchmark: 50% Barclays U.S.
Portfolio Inception Date:
Government Bond Index / 35%
01/07/1993 (Class A) Fiscal Year End: 31 August Net Assets: $6,985.03 million Subscription/Redemption: Daily Base Currency: U.S. Dollar Convenience Pricing/Reporting
Currencies:
Singapore Dollar (S$) and Euro Currency-Hedged Share Classes:
Australian Dollar, Singapore Dollar
(S$), Euro, British Pound, New
Zealand Dollar
JPMorgan EMBI Global/ 15%
Barclays U.S. High Yield 2%
Constrained Index Order Placement Cut-off Time:
4:00 p.m. US ET# Average Duration (Years): 5.52 Management Fee: 1.10% Average Credit Quality: BBB+ Standard Deviation:
3 Yrs: 4.39%
5 Yrs: 4.05% Total # of Holdings: 449
# 12:00 p.m. US ET (6:00 p.m. CET) for Currency-Hedged Share Classes
Portfolio Management Team
US Core Fixed Income, Global Credit, and Emerging Market Debt Teams
Douglas J. Peebles
Gershon Distenfeld, CFA
CIO & Head -- Fixed Income Paul J. DeNoon
Director -- High Yield
Director -- Emerging Markets Debt
Top Ten Holdings
U.S. Treasury Bonds 8.00%, 11/15/21 U.S. Treasury Bonds 7.50%, 11/15/24 U.S. Treasury Bonds 6.125%, 11/15/27 FNMA 6.625%, 11/15/30 U.S. Treasury Bonds 8.75%, 8/15/20 U.S. Treasury Bonds 8.125%, 8/15/19 FNMA 7.125%, 1/15/30 U.S. Treasury Bonds 6.625%, 2/15/27 U.S. Treasury Bonds 6.25%, 5/15/30 FHLM 6.25%, 7/15/32
Total
Calendar Year Performance: Bid-to-Bid
Holding 14.11% 7.07% 6.02% 4.38% 3.83% 2.86% 2.63% 2.42% 2.25% 2.18%
47.75%
Class A
Portfolio
Benchmark
9.4% 9.7% 8.3%
5.9%
5.9% 4.8%
0.2%
3.6% 3.9%
-1.4% -2.5%
-2.6%
2011
2012
2013
2014
2015
2016
YTD
Past performance is no guarantee of future results.
Performance is shown in U.S. Dollar terms and, accordingly,
the actual return achieved by a non-U.S. Dollar based investor
may increase or decrease due to currency fluctuations.
Portfolio Composition (as % of assets)
Sector Allocation
Treasuries 38.47% High Yield 27.66% Commercial Mortgage-Backed
Securities 10.38% Agency 8.81% Emerging Markets - Hard Currency
7.45% CMOs 5.77% Other 1.46%
Credit Quality^
AAA 53.13% BB 17.50% AA 0.51% B 9.43% A 0.96% CCC & Below 0.16% BBB 11.76% Not Rated 6.55%
Country Allocation
United States 84.29% Switzerland 1.22%
Brazil 2.71%
Peru 0.98%
Mexico 1.23%
Other 9.57%
Holdings are expressed as a percentage of total investments and may vary over time.
* Source: AllianceBernstein. ^ Highest of S&P, Moody's and Fitch. Inception dates: 28/09/2012, Class AT NZD H;19/12/2011, Class AT GBP H;15/04/2011, Classes A2 SGD H, AT SGD H;10/09/2010, Class AT EUR H;28/07/2010, Class AT AUD H;01/10/2007, Class AT (EUR);16/09/2002, Class AT (USD);01/06/2001, Classes A (EUR), A2 (EUR);26/10/1998, Class A2 (USD);01/07/1993, Class A (USD). The Barclays U.S. Government Bond Index is the government-related component of the U.S. Aggregate Bond Index. The Barclays U.S. Aggregate Bond Index represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market. The Barclays U.S. High Yield 2% Constrained Index covers the universe of fixed rate, non-investment grade debt. The Index is the 2% Issuer Capped component of the U.S. Corporate High Yield Index. The JPMorgan EMBI (Emerging Markets Bond Index) Global tracks total returns for U.S. dollar-denominated debt instruments issued by emerging market sovereign and quasi-sovereign entities. An investor cannot invest directly in an index, and their results are not indicative of the performance for any specific investment, including an AB fund. Indices do not include sales charges or operating expenses associated with an investment in a mutual fund, which would reduce total returns. As an annual percentage of average daily Net Asset Value. For further details on the Management Fee, please refer to "Additional Information -- Fees and Expenses" in section II of the fund's Prospectus. For further information, or to obtain a copy of the Portfolio's Prospectus, please contact your financial advisor.
FIXED INCOME
AB American Income Portfolio
Average Annual Returns: Offer-to-Bid#
1
3
5
10
Class A Class A
Class A2 Class A2
Class AT Class AT Benchmark
Year Year Year Year -3.29% 0.71% 3.23% 4.91% -8.29 4.93 7.93 5.62 -3.24 0.70 3.25 4.90 -8.74 4.75 7.87 5.57 -3.31 0.66 3.22 4.91 -8.81 4.72 7.85 -- 2.20 2.24 4.61 5.95
Since
Inception 6.22% 3.81 6.11 3.74 5.87 7.52 --
Average Annual Returns Hedged: Offer-to-Bid
1
3
5 10
Class AT AUD H Class AT H Class A2 S$ H Class AT S$ H
Class AT ? H Class AT NZD H
Year Year Year Year
-1.45% 2.84% 5.97% --
-3.78 0.39 3.05 --
-2.66 0.89
--
--
-2.57 0.88
--
--
-3.21 0.84
--
--
-0.74 3.30
--
--
Since
Inception 6.48% 3.13 3.18 3.18 2.91 3.71
FACT SHEET
as of 31/03/2016 Cumulative Total Returns: Offer-to-Bid#
1
3
5
10 Since
Class A Class A
Class A2 Class A2
Class AT Class AT Benchmark
Year -3.29% -8.29 -3.24 -8.74 -3.31 -8.81 2.20
Year 2.16% 15.55 2.11 14.93 2.01 14.84 6.89
Year 17.21% 46.44 17.31 46.02 17.19 45.90 25.29
Year 61.47% 72.82 61.41 71.95 61.46
-- 78.27
Inception 294.41% 74.15 181.27 72.34 116.58 85.12
--
Cumulative Total Returns Hedged: Offer-to-Bid
1
3
5
10 Since
Class AT AUD H Class AT H Class A2 S$ H Class AT S$ H
Class AT ? H Class AT NZD H
Year Year Year Year Inception
-1.45% 8.75% 33.63% -- 42.81%
-3.78 1.17 16.21 -- 18.66
-2.66 2.69
--
-- 16.78
-2.57 2.65
--
-- 16.79
-3.21 2.53
--
-- 13.07
-0.74 10.24
--
-- 13.62
NAV Information as of 31/03/2016
NAV
Class A
8.34
Class A
7.33
Class A2
25.68
Class A2
22.56
Class AT
8.32
Class AT
7.31
DIV 0.0347 0.0313
-- -- 0.0346 0.0309
General Fund Information
Bloomberg
ISIN
ALAMIAI:LX
LU0044957727
ACMAIAE:LX
LU0232525039
ALAMITI:LX
LU0095030564
ALAMITE:LX
LU0232525203
AGIAIAT:LX
LU0157308031
ABAMATE:LX
LU0328307227
NAV Information as of 31/03/2016--Currency-Hedged Share Classes
NAV
DIV
Class AT AUD
14.30
0.0768
Class AT
14.07
0.0486
Class A2 S$
17.96
--
Class AT S$
14.06
0.0649
Class AT ?
14.05
0.0590
Class AT NZD
13.53
0.0785
General Fund Information--Currency-Hedged Share Classes
Bloomberg
ISIN
ABAATAH:LX
LU0511406216
ABAATEH:LX
LU0539799634
ABAA2SH:LX
LU0592505746
ABAATSH:LX
LU0592505829
AAMATSH:LX
LU0689625878
ABAIATN:LX
LU0805981734
Currency-hedged share classes use hedging techniques in an attempt to reduce--but not eliminate--fluctuations between the investor's holdings in a particular currency-hedged share class denominated in the investor's investing currency and the portfolio's base currency. The goal is to deliver returns that track the portfolio's base currency returns more closely. Where applicable, stand-alone currency symbols represent convenience pricing, which offers the ability to purchase or redeem shares using the currency indicated, which is then converted into the base currency of the portfolio using a market rate at the time of purchase or redemption. Convenience pricing involves no currency hedging and does not seek to provide any protection from currency fluctuations.
Investment in the Fund entails certain risks. Investment returns and principal value of the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Dividends are not paid for all share classes and are not guaranteed. Distributions may come from net income, realized and unrealized gains and/or capital attributable to the relevant class. The Fund is meant as a vehicle for diversification and does not represent a complete investment program. Some of the principal risks of investing in the Fund include country risk, currency hedged share class risk, illiquid assets risk, focused portfolio risk, portfolio turnover risk, management risk, derivatives risk, borrowing risk, taxation risk, fixed income securities risk, interest rate risk, lower rated and unrated investments risk, prepayment risk, sovereign debt obligations risk and lower-or unrated securities risk. These and other risks are described in the Fund's prospectus. Prospective investors should read the prospectus and Product Highlights Sheet carefully and discuss risk and the fund's fees and charges with their financial adviser to determine if the investment is appropriate for them.
This information is directed solely at persons in jurisdictions where the funds and relevant share class are registered or who may otherwise lawfully receive it. Before investing in AllianceBernstein funds, investors should review the fund's full prospectus, together with the fund's Product Highlights Sheet and the most recent financial statements. Copies of these documents, including the latest annual report and, if issued thereafter, the latest semi-annual report, may be obtained free of charge from or by contacting the local distributor in the jurisdictions in which the funds are authorized for distribution.
1 The Portfolio is a portfolio of AB FCP I (referred to as "AB"), a mutual investment fund (fonds commun de placement) organized under the laws of the Grand Duchy of Luxembourg. Prior to 5 February 2016, the Fund's legal name was ACMBernstein, its trading name was AllianceBernstein.
AllianceBernstein (Luxembourg) S.?.r.l. is the management company of the Portfolio and has appointed AllianceBernstein (Singapore) Ltd. (Company Registration No. 199703364C) as its agent for service of process and as its Singapore representative.
# Past performance is no guarantee of future results. Total returns, provided by AllianceBernstein, include the change in Net Asset Value and reinvestment of any distributions paid on Portfolio shares for the period shown, net of assumed front-end load (FEL) 2.5% for Class A/A2/AT shares. For Class A/A2/AT shares, maximum front-end load (FEL): Up to 6.25%. Accordingly, these figures do not represent actual returns to an investor. Performance quoted in currencies other than the base currency of the Portfolio is calculated by converting the daily Net Asset Value of the Portfolio using a spot foreign exchange rate of the other offered currency on each valuation point. The information on this page is for informational purposes only and should not be construed as an offer to sell, or solicitation of an offer to buy, or a recommendation for the securities of the Portfolio. Returns denominated in a currency other than that of the fund may increase or decrease as a result of foreign exchange currency fluctuations.
For a full list of available share classes and detailed fund information, please visit our website at ? 2016 AllianceBernstein L.P. The [A/B] logo is a service mark of AllianceBernstein and AllianceBernstein? is a registered trademark used by permission of the owner, AllianceBernstein L.P.
GBAIPFS316SING
FIXED INCOME
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