be better invested - rankiapro · 2019-11-20 · no. of holdings 70 - 90 25 - 35 50 - 70 30 - 60 40...
TRANSCRIPT
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F I R M O V E R V I E W & P R O D U C T R A N G E Q 3 2 0 1 9
Be Better Invested
For Investment Professional use only. Not for inspection by, distribution or quotation to, the general public.
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AB at a Glance
3,760 employeesworking together around the globe
136 portfolio managers 188 research analystssharing research perspectives across asset classes and sectors to provide strategic advantages to our clients
51 cities in 25 countriesaround the world, providing local support to our global client base
€15bn
€130bn
Alternatives
Equities
€124bnMulti-Asset
€241bnFixed Income
€510 billionof assets under management
Information as at 30 June 2019. Source: AB
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Global StrengthWhatever your clients’ investment goals, we can help achieve them with confidence. Our global presence and experience allow us to translate the trends shaping world markets into investment advantages for your clients.
Innovation & TechnologyWe believe that harnessing new technology and machine learning is critical to success across asset classes. For example, AB’s proprietary fixed income technology enables us to leverage our research and insights more efficiently, take decisions more quickly, and execute trades faster and better.
Research DrivenDeeper, integrated, quality research delivers differentiated insights and better opportunities. Through the cross-asset capabilities of our specialised teams and global research platform, your clients can access the best investment opportunities around the world.
Responsible InvestingAt AB, we’ve embraced responsible investing in spirit and practice, making it a key facet of our investment process and a central component of our firm’s identity. As a signatory of the Principles for Responsible Investment (PRI) since 2011, we’re committed to implementing all six principles over time.
A Trusted PartnerIn a world of uncertainty, we offer a wide range of solutions – and much more. We aim to build trusted partnerships with our clients by combining quality investment insight with the highest level of service to help you navigate uncertainty with confidence.
History2000 – AllianceBernstein was formed when Alliance
Capital acquired Sanford C. Bernstein. In 2015, AllianceBernstein became known as AB.
1971 – Alliance Capital was founded when the investment management division of Donaldson, Lufkin & Jenrette, Inc., merged with Moody’s investment advisory business.
1967 – Sanford C. Bernstein was founded as a private securities firm in New York. The firm grew into one of the largest independent investment managers.
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Explore Our Top Morningstar Rated Funds Overall Morningstar Ratings ™
United StatesGlobal Europe Asia
Past performance does not guarantee future results.The Portfolios shown above have an Overall Morningstar Rating of four or five stars (I/I2 share classes) as at 30 June 2019. Source: Morningstar
Emerging Markets
+ AB American Growth+ AB Concentrated US Equity+ AB Select US Equity
+ AB European Equity+ AB Eurozone Equity
+ AB China Opportunity
+ AB American Income + AB European Income + AB Asia Pacific Local Currency Debt
+ AB Emerging Markets Debt
+ AB Emerging Markets Multi-Asset
+ AB Global High Yield + AB Global Plus Fixed Income+ AB Mortgage Income
+ AB All Market Income+ AB Dynamic Diversified
+ AB Concentrated Global Equity+ AB Global Core Equity+ AB Global Real Estate Securities+ AB International Healthcare+ AB International Technology+ AB Low Volatility Equity
Equity
Fixed Income
Multi-Asset
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For illustrative purposes only. There can be no assurance that any investment objectives will be achieved or loss avoided.Source: AB.
Meeting Your Clients’ Needs
Aim is to:
+ Reduce losses in market drawdowns
+ Improve recovery times when markets rebound
+ Deliver lower volatility and smoother patterns of returns
+ Help give investors the confidence to stay invested during turbulent markets
“Prepare for volatilitybefore it strikes”
Aim is to:
+ Achieve a high regular income
+ Balance income and stability in challenging market environments
+ Provide diversification from higher risk equity investments
+ Deliver an attractive total return with
income reinvested
“High income in aworld of low rates”
Aim is to:
+ Achieve attractive capital growth over the long term
+ Deliver outperformance through actively managed, high-conviction portfolios
+ Offer clients access to global research and specialist opportunities
+ Successfully navigate changing markets
“Stronger return potential for higher risk appetites”
DownsideProtection
IncomeGeneration
CapitalGrowth
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Equity Range
“Global equity return potential with less risk”
“Attractive growth potential from a concentrated
portfolio of quality global companies”
“Strong and sustainable return potential from
attractively valued global companies”
“Responsible returns for a better world”
“Strong growth potential from attractive healthcare
businesses”
“High return potential from technological innovators”
Global Sector
AB Low Volatility Equity AB Concentrated Global Equity AB Global Core Equity AB Sustainable
Global ThematicAB International
Health CareAB International
Technology
Primary Investment Universe Global Large-Cap Equity Global Large-Cap Equity Global Large-Cap Equity Global Large-Cap Equity Global Equity Health Care Global Equity Technology
Overall Morningstar Rating1 Risk & Reward Profile (SRRI)
Benchmark MSCI World Index MSCI World Index MSCI AC World Index MSCI AC World IndexMSCI World Health Care
IndexMSCI World Information
Technology Index
No. of Holdings 70 - 90 25 - 35 50 - 70 30 - 60 40 - 60 40 - 60
Fund Size €2,369m €230m €1,609m €675m €683m €376m
Share Classes2 A USD, I USD,A EUR H, I EUR H,
A USD, I USD,A EUR H, I EUR H
A USD, I USD,A EUR H, I EUR H
A USD, I USD,A EUR H, I EUR H
A USD, I USD,A EUR, I EUR
A USD, I USD,A EUR H, I EUR H
ISIN (A/I share classes)LU0861579265 /LU0861579349
LU1011997381 / LU1011997464
LU1061039258LU1061039506
LU0069063385 / LU0069063542
LU0058720904 / LU0097089360
LU0060230025 /LU0736559948
Fund Inception 2012 2013 2011 1991 1983 1984
Past performance does not guarantee future results. For illustrative purposes only. There can be no assurance that any investment objectives will be achieved.Information as at 30 June 2019. Source: AB and Morningstar 1The Overall Morningstar Ratings displayed are for I share classes in base currency. 2Accumulation share classes displayed. Income share classes are also available.
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“Strong growth potential from highly profitable US
companies”
“High return potential from a flexible and risk-aware US
equity portfolio”
“Attractive growth potential from a concentrated
portfolio of quality US companies”
“High return potential from underappreciated European
companies”
“High return potential from underappreciated eurozone
companies”
“Emerging market equity return potential with less
risk”
“Compelling return potential from attractive opportunities in China”
United States Europe Emerging Markets and Asia
AB American Growth AB Select US Equity AB Concentrated US Equity AB European Equity AB Eurozone Equity AB Emerging Markets Low Volatility Equity AB China Opportunity
US Large-Cap Equity US Large-Cap Equity US Large-Cap Equity Europe Large-Cap Equity Eurozone Large-Cap EquityGlobal Emerging Markets Equity
China Equity
Russell 1000 Growth Index S&P 500 Index S&P 500 Index MSCI Europe Index MSCI EMU IndexMSCI Emerging Markets Index
MSCI China Index
40 - 60 50 - 70 15 - 20 40 - 60 40 - 60 70 - 90 50 - 80
€2,832m €3,827m €793m €640m €1,217m €1,442m €139m
A USD, I USD,A EUR H, I EUR H
A USD, I USD,A EUR H, I EUR H
A USD, I USD,A EUR H, I EUR H
A EUR, I EUR A EUR, I EURA USD, I USD,
AD EUR H, A USD, I USD,
A EUR H, I EUR H
LU0079474960 / LU0079475348
LU0683600562 / LU0683600992
LU1011998942 / LU1011999676
LU0124675678 / LU0128316840
LU0528102642 / LU0528103707
LU1005412207 /LU1005412462
LU0084234409 /LU0084967578
1992 2011 2013 2001 1999 2014 1997
Past performance does not guarantee future results. For illustrative purposes only. There can be no assurance that any investment objectives will be achieved. Information as at 30 June 2019. Source: AB and Morningstar
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Fixed Income Range
“Consistent returns, low volatility and downside
protection”
“Income and stability from attractive global bonds”
“Income and stability by seeking the best mix of US
bonds”
“Income and stability by seeking the best mix of
European bonds”
“Excellent total return potential through
opportunities in the US housing market”
“Attractive total return potential from high quality
financial companies”
Core Specialist
AB Global Plus Fixed Income AB Global Income AB American Income AB European Income AB Mortgage Income AB Financial Credit
Primary Investment Universe
Global IG Sovereign and Corporate Bonds
Global Sovereign, Corporate Bonds (IG + HY),
Securitized, EMD and FX
US Sovereign, Securitized and Corporate Debt (IG + HY)
European Sovereign and Corporate Bonds (IG + HY)
US Mortgage-Backed Securities
Global Financial Sector Debt
Overall Morningstar Rating1 n/a4 n/a4
Risk & Reward Profile (SRRI)
Yield2 3.60% 4.83% 4.50% 4.36%5 4.40% 6.20%
Avg. Credit Quality Avg. Duration
A6.2 years
BBB+5.5 years
BBB+5.2 years
BBB+4.8 years
BBB-1.4 years
BBB-4.3 years
Fund Size €901m €118m €16,849m €2,965m €1,625m €110m
Share Classes3 A2 USD, I2 USD,A2 EUR H, I2 EUR H
A2 USD, I2 USD,A2 EUR H, I2 EUR H
A2 USD, I2 USD,A2 EUR H, I2 EUR H
A2 EUR, I2 EURA2 USD, I2 USD,
A2 EUR H, I2 EUR HA2 USD, I2 USD,
A2 EUR H, I2 EUR H
ISIN (A/A2 and I/I2 share classes)LU0683598212 /LU0683599616
LU1585236802 /LU1585237289
LU0095030564 / LU0249549436
LU0095024591 / LU0249549782
LU1021288185 / LU1021292617
LU1808993080 / LU1808993320
Fund Inception 2012 2017 1993 1999 2014 2018
Past performance does not guarantee future results. For illustrative purposes only. There can be no assurance that any investment objectives will be achieved. Information as at 30 June 2019. Source: AB and Morningstar1The Overall Morningstar Ratings displayed are for I/I2 share classes in base currency. 2Yield displayed is "Yield to Worst" (YtW) for fixed income portfolios and "Distribution Yield" for multi-asset portfolios. 3Accumulation share classes displayed. Income share classes are also available. 4Funds with less than a three-year performance track record or no Morningstar category are not rated. 5YtW in USD. YtW in EUR is 1.40%.
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Fixed Income, Multi-Asset and Alternative Range
“High income from high yielding bonds from around
the world”
“High total return potential from a diversified portfolio
of attractive EM bonds”
“Attractive total return potential through Chinese
and other Asian bonds”
“A balance of income,stability and growth
potential”
“Emerging markets growth and income potential with
downside protection”
“Absolute returns from a long/short US equity
strategy”
High Yield Emerging Markets and Asia Multi-Asset Alternative
AB Global High Yield AB Emerging Markets Debt AB RMB Income Plus AB All Market Income AB Emerging Market Multi-Asset AB Select Absolute Alpha
Global HY Corporates, EMD and Securitized Assets
Emerging Market Sovereign and Corporate Bonds
CNH- and CNY- denominated fixed income
securities
Global Equity, Fixed Income, Currency and REITs
Emerging Market Equity, Fixed Income and Currency
Long/Short US Equity
n/a4 n/a4
6.59% 8.41% 3.74% Various6 5.74%7 -
BB+3.9 years
BB6.8 years
-2.6 years
BBB3.1 years
BB-
-
€18,017m €829m €192m €294m €1,678m €870m
A2 USD, I2 USD,A2 EUR H, I2 EUR H
A2 USD, I2 USD,A2 EUR H, I2 EUR H
A2 CNH, I2 CNH,A2 EUR, I2 EUR
A USD, I USD,A EUR H, I EUR H
A USD, I USD,A EUR H, I EUR H
A USD, I USD,A EUR H, I EUR H
LU0102830865 /LU0154094527
LU0246601768 /LU0249553388
LU0633139042 / LU0633140057
LU1127386735 / LU1127391495
LU0633140560 /LU0633141378
LU0683598212 /LU0683599616
1997 2006 2011 2014 2011 2012
Past performance does not guarantee future results. For illustrative purposes only. There can be no assurance that any investment objectives will be achieved. Information as at 30 June 2019. Source: AB and Morningstar6Distribution Yield varies by share class; please request additional information from your AB contact. 7Distribution Yield for ID USD share class.
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Embracing Innovation and Technology
Enhancing Research & Portfolio ManagementIntegrating innovative digital technology enables us to:
+ Leverage our research and trading insights much more efficiently
+ Take decisions more quickly, progressing rapidly from idea generation to idea implementation
+ Execute trades faster and better resulting in fewer missed opportunities
Applying Data Science to Investing Problems+ Using natural language processing to gauge the sentiment
of new car reviews and develop a view on a car manufacturer
+ Analysing mobile phone location data to measure foot traffic to bricks-and-mortar stores
+ Assessing the tone of company reports to determine if management is using more negative words
+ Evaluating short sellers’ social media posts to inform conviction and sizing in portfolio holdings
PRISM
ABBIE
101001110
eSIGHT
ALFAPRISM
ABBIE
101001110
eSIGHT
ALFA
PRISM ALFA
eSIGHT101001110
101001110
101001110
101001110
101001110
101001110
101001110
101001110
ABBIE
Fundamental CreditResearch
Bond Market LiquidityAggregation
AI-Driven Virtual Portfolio Assistant
ESG Research and Collaboration
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Responsible Investing at AB
UN SDGs: United Nations Sustainable Development Goals. Representative responsible investing strategies. Screening is available upon client request for separately managed accounts; investment minimums apply.
ESG Integration and Engagement:Fundamental to Our Active InvestingESG is deeply ingrained in our investment and research processes – and in the way we engage company management teams and stakeholders.
Our investment strategies can screen out issuers such as
weapons and tobacco firms
The goal of our green alpha strategy is to achieve a carbon-
neutral portfolio
Our sustainable strategies align with the UN SDGs, focusing on health, environment and
empowerment themes
Our muni impact strategy invests in bond projects
that benefit underserved communities
Screening Goal-Based
Sustainable Impact
ESG IntegrationESG factors are fully
integrated in our investment process
ESG EngagementAs active investors,
we encourage firms to improve their business activities and practices
Portfolios with Purpose: Our StrategiesLeveraging our perspective as a responsible firm and investor, we’ve designed portfolios with purpose to deliver the outcomes investors expect.
We’re Here to Support You
The value of an investment in the Fund can go down as well as up, and investors may not get back the full amount they invested. This financial promotion is directed solely at persons in jurisdictions where the funds and relevant share classes are registered. Before investing in the Fund, investors should review the Fund’s full prospectus, together with the Fund’s Key Investor Information Document 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 by visiting www.alliancebernstein.com or by contacting the local distributor in the jurisdictions in which the Fund is authorized for distribution, or in the case of Swiss investors, from the registered office of the Swiss representative. Please review the Prospectus for details on relevant share classes available for this Fund. Note to Readers in Europe: This information is issued by AllianceBernstein Limited, a company registered in England under company number 2551144. AllianceBernstein Limited is authorised and regulated in the UK by the Financial Conduct Authority (FCA -Reference Number 147956). Additional Note to Readers in Austria and Germany: Local paying and information agents: Austria --UniCredit Bank, Rothschildplatz 1, 1020 Vienna; Germany --ODDO BHF Aktiengesellschaft, Bockenheimer Landstrasse 10, 60323 Frankfurt am Main. Note to Readers in Switzerland: This document is issued by AllianceBernstein Schweiz AG, Zürich, a company registered in Switzerland under company number CHE-306.220.501. AllianceBernstein Schweiz AG is authorised and regulated in Switzerland by the Swiss Financial Market Supervisory Authority (FINMA) as a distributor of collective investment schemes. Swiss Representative & Swiss Paying Agent: BNP Paribas Securities Services, Paris, Succursale de Zürich. Registered office: Selnaustrasse 16, 8002 Zürich, Switzerland, which is also the place of performance and the place of jurisdiction for any litigation in relation to the distribution of shares in Switzerland. The Prospectus, the KIIDs, the Articles or management regulations, and the annual and semi-annual reports of the concerned fund may be requested without cost at the offices of the Swiss representative.
Overall Morningstar Rating is a copyright of Morningstar, Inc., 2019. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Ratings are revised monthly and are subject to change. They may therefore differ from those in this publication. Past performance is no guarantee of future results. The [A/B] logo is a registered service mark of AB and AllianceBernstein® is a registered service mark used by permission of the owner, AllianceBernstein L.P. © 2019 AllianceBernstein L.P.
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CONTEXTThe AB Blog on Investing