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ABAEX AB Emerging Markets Multi-Asset A

  • Fund
  • ABAEX
  • Price as of: Sep 19, 2018
  • $8.86
  • + $0.08
  • + 0.91%
  • Category
  • Emerging Markets Equities

ABAEX - Profile

Vitals

  • YTD Return -10.8%
  • 3 Yr Annualized Return 6.5%
  • 5 Yr Annualized Return 4.1%
  • Net Assets $128 M
  • Holdings in Top 10 20.8%

52 WEEK LOW AND HIGH

$8.86
$8.65
$10.88

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.92%

SALES FEES

  • Front Load 4.25%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 74.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

$2,500

Investment Themes

CATEGORY

Emerging Markets Equities
  • Fund Type Open End Mutual Fund
  • Investment Style Diversified Emerging Mkts

Distributions

  • YTD Total Return -10.8%
  • 3 Yr Annualized Total Return 4.9%
  • 5 Yr Annualized Total Return 3.2%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.51%
DIVIDENDS
  • Dividend Yield 0.1%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name AB Emerging Markets Multi-Asset Portfolio
  • Fund Family Name AllianceBernstein
  • Inception Date Aug 31, 2011
  • Shares Outstanding N/A
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager Morgan C. Harting

Fund Description

The fund invests at least 80% of its net assets under normal circumstances in securities of emerging market issuers and/or the currencies of emerging market countries. It will invest between 30% and 95% of its net assets in equity securities, and between 0% and 65% of its net assets in debt securities, with any remainder held in cash (including foreign currency). The fund is not constrained based on the country, region, market capitalization, credit quality or duration of its investments and its assets may at times be concentrated in a particular country or region.

ABAEX - Performance

Return Ranking - Trailing

Period ABAEX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -10.8% -29.2% 38.1% 49.12% 3
1 Yr -6.5% -38.0% 61.8% 38.57% 2
3 Yr 6.5% * -21.1% 56.2% 54.82% 3
5 Yr 4.1% * -17.0% 23.0% 10.37% 1
10 Yr N/A * -8.9% 9.7% N/A N/A

* Annualized


Return Ranking - Calendar

Period ABAEX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 16.1% -32.2% 248.4% 75.96% 4
2016 7.0% -40.7% 241.4% 40.28% 3
2015 -9.8% -47.4% 0.1% 24.47% 2
2014 -3.9% -40.7% 42.6% 42.97% 3
2013 -10.0% -30.3% 32.4% 86.98% 5

Total Return Ranking - Trailing

Period ABAEX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -10.8% -100.0% 38.1% 47.27% 3
1 Yr -10.5% -35.0% 60.6% 67.35% 4
3 Yr 4.9% * -11.1% 57.3% 67.85% 4
5 Yr 3.2% * -12.2% 24.7% 20.95% 2
10 Yr N/A * -4.6% 14.9% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period ABAEX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 16.1% -24.1% 248.4% 76.46% 4
2016 9.2% -24.0% 242.0% 27.66% 2
2015 -6.8% -24.6% 2.8% 16.39% 1
2014 0.1% -17.4% 60.9% 24.14% 2
2013 -9.3% -36.9% 60.9% 93.32% 5

NAV & Total Return History

ABAEX - Holdings

Filings data as of: Jul 31, 2018

Concentration Analysis

ABAEX Category Low Category High ABAEX % Rank Quintile
Net Assets 128 M 272 81.5 B 21.88% 4
Number of Holdings 269 1 5065 7.68% 1
Net Assets in Top 10 26.3 M -154 M 16.4 B 24.35% 4
Weighting of Top 10 20.8% 0.0% 539.2% 26.38% 4

Top 10 Holdings

  1. Samsung Electronics Co Ltd 2.17%
  2. Tencent Holdings Ltd 3.17%
  3. Alibaba Group Holding Ltd ADR 3.25%
  4. Industrial Bank of Korea 1.85%
  5. Taiwan Semiconductor Manufacturing Co Ltd 2.13%
  6. Tatneft PJSC ADR 1.69%
  7. PJSC Lukoil ADR 1.62%
  8. China Petroleum & Chemical Corp H Shares 2.04%
  9. Sinopec Shanghai Petrochemical Co Ltd H 1.46%
  10. Woori Bank 1.37%

Asset Allocation

Weighting Category Low Category High ABAEX % Rank Quintile
Stocks
72.99% 0.00% 104.19% 31.16% 5
Bonds
26.30% -67.79% 94.54% 1.45% 1
Other
0.46% -1.53% 31.18% 15.07% 3
Cash
0.25% -68.34% 100.00% 27.68% 5
Preferred Stocks
0.00% 0.00% 14.58% 9.28% 5
Convertible Bonds
0.00% 0.00% 13.48% 3.04% 5

Stock Sector Breakdown

Weighting Category Low Category High ABAEX % Rank Quintile
Financial Services
18.49% 0.00% 46.47% 21.77% 4
Technology
15.93% 0.00% 36.30% 23.66% 4
Energy
9.86% 0.00% 21.48% 3.63% 1
Basic Materials
7.92% 0.00% 18.10% 11.61% 2
Consumer Cyclical
6.53% 0.00% 33.56% 29.75% 5
Industrials
5.08% 0.00% 27.34% 19.45% 3
Consumer Defense
3.78% 0.00% 50.64% 28.74% 5
Real Estate
2.00% 0.00% 9.59% 15.38% 3
Communication Services
1.78% 0.00% 20.02% 20.75% 3
Utilities
0.91% 0.00% 56.31% 20.03% 3
Healthcare
0.72% 0.00% 14.60% 25.11% 5

Stock Geographic Breakdown

Weighting Category Low Category High ABAEX % Rank Quintile
Non US
72.99% 0.00% 102.43% 30.58% 5
US
0.00% -3.75% 100.54% 21.01% 5

Bond Sector Breakdown

Weighting Category Low Category High ABAEX % Rank Quintile
Government
22.73% -116.16% 83.92% 1.31% 1
Corporate
3.57% 0.00% 41.87% 3.34% 1
Cash & Equivalents
0.25% -39.14% 100.00% 28.59% 5
Derivative
0.00% -49.59% 7.66% 2.47% 5
Securitized
0.00% 0.00% 57.71% 1.31% 5
Municipal
0.00% 0.00% 1.50% 1.02% 5

Bond Geographic Breakdown

Weighting Category Low Category High ABAEX % Rank Quintile
Non US
24.90% -482.97% 91.30% 1.01% 1
US
1.40% 0.00% 415.18% 2.32% 1

ABAEX - Expenses

Operational Fees

ABAEX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.92% 0.06% 935.74% 20.82% 4
Management Fee 0.85% 0.00% 2.00% 6.38% 2
12b-1 Fee 0.25% 0.00% 1.00% 3.33% 3
Administrative Fee N/A 0.00% 0.85% N/A N/A

Sales Fees

ABAEX Fees (% of AUM) Category Low Category High ABAEX Rank Quintile
Front Load 4.25% 0.50% 5.75% 5.22% 1
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

ABAEX Fees (% of AUM) Category Low Category High ABAEX Rank Quintile
Max Redemption Fee N/A 0.45% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

ABAEX Fees (% of AUM) Category Low Category High ABAEX Rank Quintile
Turnover 74.00% 0.00% 947.00% 8.59% 4

ABAEX - Distributions

Dividend Yield Analysis

ABAEX Category Low Category High ABAEX % Rank Quintile
Dividend Yield 0.1% 0.00% 3.80% 55.68% 3

Dividend Distribution Analysis

ABAEX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

ABAEX Category Low Category High ABAEX % Rank Quintile
Net Income Ratio 2.51% -1.60% 5.89% 4.08% 1

Capital Gain Distribution Analysis

ABAEX Category Low Category High Capital Mode
Capital Gain Distribution Frequency N/A Annually Quarterly Annually

ABAEX - Managers

Morgan C. Harting

Manager

Start Date

Aug 31, 2011

Tenure

7.01

Tenure Rank

5.4%

Morgan C. Harting is the lead Portfolio Manager for all Multi-Asset Income strategies. He also manages the Emerging Markets Multi-Asset Portfolio and is a member of the portfolio team for the Frontier Emerging Markets Portfolios. Harting joined AB in 2007 as part of the global and emerging-market equities portfolio-management team. Prior to that, he was a sovereign-debt analyst, first at Standard & Poor’s and then at Fitch Ratings, where he was a senior director. Harting holds a BA from Wesleyan University, and both an MA in international relations and an MBA from Yale University, where he was a graduate teaching fellow in international economics. He is a CFA charterholder and a Chartered Alternative Investment Analyst (CAIA). Location: New York


Henry S. D'Auria

Manager

Start Date

Aug 31, 2011

Tenure

7.01

Tenure Rank

5.4%

Henry S. D’Auria is the CIO of Emerging Markets Value Equities, a position he has held since 2002. He served as co-CIO of International Value Equities from 2003 to 2012. D’Auria joined the firm in 1991 as a research analyst covering consumer and natural gas companies, and later covered the financial-services industry. He was previously a vice president and sell-side analyst at PaineWebber, where he specialized in restaurants, lodging and retail. D’Auria holds a BA in economics from Trinity College and is a CFA charterholder. Location: New York


Paul J. DeNoon

Manager

Start Date

Aug 31, 2011

Tenure

7.01

Tenure Rank

5.4%

Paul DeNoon is Director of AB’s Global High Income and Emerging Market Debt strategies and a Partner of the firm. He leads the management of AB’s large global high-yield franchise, co-managing the firm’s award-winning High Income Fund, named “Best Fund over 10 Years” by Lipper from 2012 through 2015. DeNoon is also a Director, with Shamaila Khan, of AB’s Emerging Market Debt Portfolios, overseeing the management of emerging-market sovereign, quasi-sovereign and corporate debt strategies in both hard and local currencies. He is a member of the firm’s Emerging Market Multi-Asset Strategy Committee, Dynamic Asset Allocation Committee and the Municipal Impact Investment Policy Group. DeNoon is also the Partner overseeing the firm’s corporate responsibility, which includes responsible investment (environmental, social and corporate governance) and diversity and inclusion. He joined AB in 1992, and was instrumental in introducing some of the firm’s flagship emerging-market debt and global high-yield funds. Previously, DeNoon was a vice president in the Investment Portfolio Group at Manufacturers Hanover Trust and an economist in the bank’s Financial Markets Research Group, where he was primarily responsible for the analysis of monetary and fiscal policy. He began his career as a research analyst at Lehman Brothers. DeNoon holds a BA in economics from Union College and an MBA in finance from New York University. Location: New York


Shamaila Khan

Manager

Start Date

Jul 31, 2017

Tenure

1.08

Tenure Rank

13.9%

Shamaila Khan Director—Emerging Market Debt Shamaila Khan is a Director of AB’s Emerging Market Debt strategies. In January 2017, she was named a Director of Emerging Market Debt, expanding her influence on our Emerging Market Debt team to include the management and oversight of our hard- and local-currency emerging-market sovereign-debt strategies. Khan joined AB in 2011 as a senior vice president and portfolio manager, focusing on emerging-market corporate and quasi-sovereign issuers across all of AB’s emerging-market debt and credit strategies. She has been actively managing and evaluating corporate and sovereign emerging-market debt issuance since 1997. Prior to joining AB, Khan served as managing director of emerging-market debt for TIAA-CREF. She has participated in many emerging-market panels and discussions worldwide, including Fitch’s Annual Emerging Markets Outlook Conference, the Bank of America Merrill Lynch Emerging Markets Conference and Debtwire Emerging Markets Investors Summit. Khan holds a BBA from Quaid-i-Azam University, Pakistan, and an MBA (with honors) from New York University’s Leonard N. Stern School of Business. Location: New York


Tenure Analysis

Category Low

0.0

Category High

24.7

Category Average

5.71

Category Mode

3.7