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ABCEX AB Emerging Markets Multi-Asset C

  • Fund
  • ABCEX
  • Price as of: Jul 12, 2019
  • $8.91 + $0.01 + 0.11%
  • Category
  • Emerging Markets Equities

ABCEX - Profile

Vitals

  • YTD Return 10.5%
  • 3 Yr Annualized Return -0.2%
  • 5 Yr Annualized Return -2.1%
  • Net Assets $139 M
  • Holdings in Top 10 18.5%

52 WEEK LOW AND HIGH

$8.91
$7.94
$9.29

Expenses

OPERATING RELATED FEES

  • Expense Ratio 2.58%

SALES FEES

  • Front Load N/A
  • Deferred Load 1.00%

BROKERAGE FEES

  • Turnover 110.00%

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 10.5%
  • 3 Yr Annualized Total Return 3.3%
  • 5 Yr Annualized Total Return 1.3%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.54%
DIVIDENDS
  • Dividend Yield 0.0%
  • 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 C
  • 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.

ABCEX - Performance

Return Ranking - Trailing

Period ABCEX Return Category Return Low Category Return High Rank in Category (%)
YTD 10.5% 0.0% 24.7% 40.59%
1 Yr -2.1% -36.9% 10.1% 35.17%
3 Yr -0.2%* -8.0% 54.8% 96.15%
5 Yr -2.1%* -19.5% 24.1% 80.74%
10 Yr N/A* -8.8% 13.8% N/A

* Annualized


Return Ranking - Calendar

Period ABCEX Return Category Return Low Category Return High Rank in Category (%)
2018 -18.5% -41.9% 0.0% 51.18%
2017 15.8% 1.8% 49.7% 96.44%
2016 7.0% -23.2% 241.4% 50.00%
2015 -9.7% -47.4% -0.6% 18.02%
2014 -4.0% -46.3% 42.6% 42.73%

Total Return Ranking - Trailing

Period ABCEX Return Category Return Low Category Return High Rank in Category (%)
YTD 10.5% 0.0% 24.7% 40.59%
1 Yr 2.0% -36.9% 10.1% 16.31%
3 Yr 3.3%* -4.1% 59.1% 90.89%
5 Yr 1.3%* -19.5% 28.0% 38.93%
10 Yr N/A* -8.8% 18.6% N/A

* Annualized


Total Return Ranking - Calendar

Period ABCEX Return Category Return Low Category Return High Rank in Category (%)
2018 -14.7% -41.9% 0.0% 19.69%
2017 19.4% 1.8% 50.4% 96.83%
2016 10.9% -10.0% 249.7% 28.74%
2015 -7.2% -33.4% 1.2% 10.32%
2014 -0.6% -46.2% 48.2% 25.45%

NAV & Total Return History

ABCEX - Holdings

Concentration Analysis

ABCEX Category Low Category High ABCEX % Rank
Net Assets 139 M 5.4 M 89.1 B 72.16%
Number of Holdings 274 2 5006 17.84%
Net Assets in Top 10 18.5 M 691 K 17.7 B 84.12%
Weighting of Top 10 18.47% 3.9% 539.2% 85.49%

Top 10 Holdings

  1. Samsung Electronics Co Ltd 2.80%

  2. Tencent Holdings Ltd 2.41%

  3. PJSC Lukoil ADR 2.20%

  4. Alibaba Group Holding Ltd ADR 2.13%

  5. Hana Financial Group Inc 1.83%

  6. Estacio Participacoes SA 1.62%

  7. China Everbright Ltd 1.46%

  8. China Petroleum & Chemical Corp Class H 1.45%

  9. Cosan SA 1.32%

  10. NWS Holdings Ltd 1.25%


Asset Allocation

Weighting Return Low Return High ABCEX % Rank
Stocks
70.50% 0.00% 102.58% 97.84%
Bonds
28.71% -13.31% 94.08% 1.37%
Cash
0.64% -4.59% 22.40% 80.00%
Other
0.15% -1.18% 15.14% 20.00%
Preferred Stocks
0.00% 0.00% 2.93% 94.71%
Convertible Bonds
0.00% 0.00% 19.50% 94.12%

Bond Sector Breakdown

Weighting Return Low Return High ABCEX % Rank
Government
22.82% -67.70% 93.03% 1.37%
Corporate
5.88% 0.00% 38.75% 3.53%
Cash & Equivalents
0.64% -4.34% 22.40% 80.00%
Derivative
0.00% -7.56% 2.93% 88.24%
Securitized
0.00% 0.00% 49.70% 93.73%
Municipal
0.00% 0.00% 0.10% 94.12%

Bond Geographic Breakdown

Weighting Return Low Return High ABCEX % Rank
Non US
27.25% 0.00% 92.45% 1.57%
US
1.46% -43.34% 7.71% 2.55%

ABCEX - Expenses

Operational Fees

ABCEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.58% 0.05% 13.96% 6.47%
Management Fee 0.85% 0.00% 2.00% 30.78%
12b-1 Fee 1.00% 0.00% 1.00% 98.00%
Administrative Fee N/A 0.00% 0.85% N/A

Sales Fees

ABCEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.40% 5.75% N/A
Deferred Load 1.00% 1.00% 5.00% 93.33%

Trading Fees

ABCEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.40% 2.00% 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.

ABCEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 110.00% 2.00% 238.00% 86.86%

ABCEX - Distributions

Dividend Yield Analysis

ABCEX Category Low Category High ABCEX % Rank
Dividend Yield 0.04% 0.00% 0.20% 3.14%

Dividend Distribution Analysis

ABCEX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Annually Semi-Annually Annually

Dividend Payout History


Net Income Ratio Analysis

ABCEX Category Low Category High ABCEX % Rank
Net Income Ratio 2.54% -1.57% 5.89% 6.27%

Capital Gain Distribution Analysis

ABCEX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

ABCEX - Managers

Morgan C. Harting

Manager

Start Date

Tenure

Tenure Rank

Aug 31, 2011

7.84

7.8%

Morgan Harting is the lead Portfolio Manager for all Multi-Asset Income strategies and for the Emerging Markets Multi-Asset Portfolio. He joined AB in 2007 as part of the global and emerging-market equities portfolio-management team. Prior to that, Harting was a sovereign-debt analysts, first at Standard & Poor's and then at Fitch Ratings, where he was a senior director. He 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 internaitonal economics. Harting is a CFA charterholder and a Chartered Alternative Investment Analysts. Location: New York


Henry S. D'Auria

Manager

Start Date

Tenure

Tenure Rank

Aug 31, 2011

7.84

7.8%

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

Tenure

Tenure Rank

Aug 31, 2011

7.84

7.8%

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

Tenure

Tenure Rank

Jul 31, 2017

1.92

1.9%

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

0.5

Category High

13.14

Category Average

7.16

Category Mode

7.84