TDNCX: AB Multi-Manager Select 2045 C

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TDNCX AB Multi-Manager Select 2045 C


Profile

TDNCX - Profile

Vitals

  • YTD Return -4.6%
  • 3 Yr Annualized Return 0.8%
  • 5 Yr Annualized Return 1.7%
  • Net Assets $79.2 M
  • Holdings in Top 10 82.0%

52 WEEK LOW AND HIGH

$11.36
$10.90
$12.37

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.76%

SALES FEES

  • Front Load N/A
  • Deferred Load 1.00%

BROKERAGE FEES

  • Turnover 48.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $2,500
  • IRA $2,500

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Target-Date 2045

Distributions

  • YTD Total Return -4.6%
  • 3 Yr Annualized Total Return 0.8%
  • 5 Yr Annualized Total Return 1.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.06%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    AB Multi-Manager Select 2045 Fund
  • Fund Family Name
    AllianceBernstein
  • Inception Date
    Dec 15, 2014
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Christopher Nikolich

Fund Description

The fund allocates its investments in underlying funds that invest in the following asset classes: traditional equity securities, defensive equity securities, equity diversifiers, inflation sensitive instruments and core fixed-income securities. Its asset mix will become more conservative, with an increasing exposure to investments in fixed-income securities and short-term bonds, each year until reaching the year approximately fifteen years after the retirement date.


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Categories

Performance

TDNCX - Performance

Return Ranking - Trailing

Period TDNCX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.6% -4.9% 1.3% 98.41%
1 Yr 2.3% -12.7% 13.9% 52.21%
3 Yr 0.8%* -18.8% 7.4% 44.85%
5 Yr 1.7%* -12.0% 5.2% 22.01%
10 Yr N/A* -4.0% 8.8% N/A

* Annualized

Return Ranking - Calendar

Period TDNCX Return Category Return Low Category Return High Rank in Category (%)
2019 17.9% -1.8% 29.3% 26.85%
2018 -17.7% -30.8% -0.6% 82.72%
2017 16.1% -36.9% 19.9% 22.17%
2016 6.7% -5.2% 8.6% 9.69%
2015 -2.0% -25.3% -0.9% 2.17%

Total Return Ranking - Trailing

Period TDNCX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.6% -4.9% 1.3% 98.41%
1 Yr 2.3% -12.7% 13.9% 52.09%
3 Yr 0.8%* -18.8% 8.4% 72.60%
5 Yr 1.7%* -12.0% 6.6% 67.08%
10 Yr N/A* -4.0% 9.4% N/A

* Annualized

Total Return Ranking - Calendar

Period TDNCX Return Category Return Low Category Return High Rank in Category (%)
2019 17.9% -1.8% 29.3% 26.85%
2018 -17.7% -25.4% 1.3% 88.97%
2017 16.1% -36.9% 26.6% 46.84%
2016 6.7% -3.2% 12.3% 48.69%
2015 -2.0% -25.3% 3.9% 48.81%

NAV & Total Return History


Holdings

TDNCX - Holdings

Concentration Analysis

TDNCX Category Low Category High TDNCX % Rank
Net Assets 79.2 M 33.2 K 34.1 B 68.76%
Number of Holdings 20 1 509 54.33%
Net Assets in Top 10 68.4 M 0 25.3 B 69.82%
Weighting of Top 10 82.03% 0.0% 100.0% 50.99%

Top 10 Holdings

  1. iShares Core S&P 500 ETF 28.31%
  2. Vanguard FTSE Developed Markets ETF 14.92%
  3. AB Relative Value Z 6.96%
  4. MFS Instl International Equity 6.95%
  5. Boston Partners Long/Short Rsrch Instl 5.98%
  6. AB Discovery Value Z 4.00%
  7. Vanguard FTSE Emerging Markets ETF 3.97%
  8. Franklin Growth R6 3.97%
  9. Schwab US Dividend Equity ETF™ 3.97%
  10. AB Global Real Estate Investment II I 3.01%

Asset Allocation

Weighting Return Low Return High TDNCX % Rank
Stocks
90.30% 0.00% 94.33% 8.31%
Bonds
6.34% -156.19% 70.59% 87.41%
Other
2.78% -2.86% 52.80% 8.71%
Cash
0.55% -8.67% 187.11% 84.62%
Convertible Bonds
0.03% 0.00% 5.71% 92.82%
Preferred Stocks
0.01% 0.00% 36.16% 58.71%

Stock Sector Breakdown

Weighting Return Low Return High TDNCX % Rank
Financial Services
16.67% 3.80% 22.68% 58.64%
Technology
14.75% 3.36% 19.67% 62.35%
Healthcare
13.03% 1.80% 18.73% 17.28%
Industrials
12.70% 1.74% 13.78% 12.26%
Consumer Cyclical
9.64% 2.04% 12.71% 75.36%
Consumer Defense
8.85% 1.11% 17.74% 14.09%
Communication Services
7.49% 0.38% 16.33% 66.86%
Real Estate
6.09% 0.46% 20.92% 43.92%
Energy
4.49% 0.98% 5.80% 52.48%
Basic Materials
3.91% 0.50% 6.48% 65.94%
Utilities
2.39% 0.00% 5.09% 75.58%

Stock Geographic Breakdown

Weighting Return Low Return High TDNCX % Rank
US
54.42% 0.00% 65.75% 18.00%
Non US
35.88% 0.00% 44.80% 14.01%

Bond Sector Breakdown

Weighting Return Low Return High TDNCX % Rank
Government
42.73% -2.84% 70.26% 24.15%
Derivative
25.71% -170.75% 38.94% 4.38%
Cash & Equivalents
24.01% 0.04% 187.10% 28.59%
Corporate
5.63% 0.00% 99.65% 97.55%
Securitized
1.88% 0.00% 34.94% 89.41%
Municipal
0.03% 0.00% 3.54% 82.92%

Bond Geographic Breakdown

Weighting Return Low Return High TDNCX % Rank
Non US
3.26% -33.97% 33.33% 41.86%
US
3.08% -189.52% 69.32% 97.61%

Expenses

TDNCX - Expenses

Operational Fees

TDNCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.76% 0.01% 108.96% 11.88%
Management Fee 0.15% 0.00% 1.05% 55.54%
12b-1 Fee 1.00% 0.00% 1.00% 95.61%
Administrative Fee N/A 0.01% 0.40% N/A

Sales Fees

TDNCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load 1.00% 1.00% 4.00% 55.28%

Trading Fees

TDNCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

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.

TDNCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 48.00% 0.00% 171.00% 83.40%

Distributions

TDNCX - Distributions

Dividend Yield Analysis

TDNCX Category Low Category High TDNCX % Rank
Dividend Yield 0.00% 0.00% 5.00% 62.41%

Dividend Distribution Analysis

TDNCX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Quarterly Annually

Net Income Ratio Analysis

TDNCX Category Low Category High TDNCX % Rank
Net Income Ratio 1.06% -0.74% 13.14% 88.78%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

TDNCX - Fund Manager Analysis

Managers

Christopher Nikolich


Start Date

Tenure

Tenure Rank

Dec 15, 2014

5.13

5.1%

Christopher Nikolich joined AB in 1994 and is the Head of Glide Path Strategies (US) in the Multi-Asset Solutions business, leading research efforts relating to effective target-date fund construction. He is the author of Anti-Depression Advice for Retirees, among other defined contribution (DC)–related research. Nikolich also works closely with clients in the structuring of their customized target-date funds. He was previously a senior investment director within DC. From 2002 to 2008, Nikolich was a senior portfolio manager on the Blend Strategies team, where he worked closely with clients on the creation and implementation of multi-asset-class solutions. From 2004 to 2006, he was based in London, where he worked with clients in the UK and Europe. From 1996 to 2002, Nikolich was a portfolio manager in the Index Strategies Group, where he managed risk-controlled equity services. He holds a BA in finance from Rider University and an MBA in finance and international business from New York University, and is a member of the Board of Trustees of Rider University. Location: New York

Daniel Loewy


Start Date

Tenure

Tenure Rank

Dec 15, 2014

5.13

5.1%

Daniel Loewy is Chief Investment Officer and Head of Multi-Asset Solutions. He oversees the research and product design of the firm’s multi-asset strategies, as well as their implementation. In addition, Loewy is Chief Investment Officer for Dynamic Asset Allocation, and is responsible for the development and investment decision-making for that service. He is also a member of the Real Asset Investment Policy Group and the Target Date Investment Oversight team. Loewy previously led the Wealth Management Group’s research on the major investment issues faced by our highest-net-worth clients, including asset allocation, alternative investments and tax management. Prior to that, he was a research analyst in the equity research department, where he followed the aerospace and defense and capital goods sectors. Additionally, Loewy has served as an associate portfolio manager for our value equity services. He holds a BS in industrial and labor relations from Cornell University and an MBA from Columbia University, and is a CFA charterholder. Location: New York

Lucian Marinescu


Start Date

Tenure

Tenure Rank

Dec 13, 2019

0.13

0.1%

Lucian Marinescu is a portfolio manager and head of target date strategies for Morningstar’s Investment Management group. Marinescu is responsible for managing multi-asset portfolios for plan providers, plan sponsors, mutual funds, and insurance and money-management companies. Marinescu works with clients to create custom glide paths, select appropriate asset classes, construct strategic asset allocation portfolios, and select managers. Prior to joining the investment advisory group in 2007, Marinescu spent three years as a project manager for Morningstar® Advisor WorkstationSM Enterprise Edition. In this role, he managed the development and implementation of investment software products for institutional clients who serve financial professionals. Marinescu joined Morningstar as a data analyst for the Data Business group in 2002. Marinescu holds a bachelor’s degree in economics and business administration from Monmouth College and a master’s degree in business administration from the University of Chicago, Booth School of Business with concentrations in analytic finance, strategy, economics, and entrepreneurship. Marinescu also holds the Chartered Financial Analyst® designation and is a member of the CFA Institute and the Investment Analysts Society of Chicago.

Andrew Lill


Start Date

Tenure

Tenure Rank

Dec 13, 2019

0.13

0.1%

Andrew joined Morningstar Investment Management Australia Limited in January 2014. He is responsible for leading the Morningstar Investments team in Australia and developing Morningstar Investment Management’s investment capabilities and thought leadership profile in the Asia Pacific region. Andrew chairs the Asia Pacific Investment Policy Committee, and the Manager and Security Selection Sub-Committee. He is also a member of the Asset Allocation Sub-Committee and Portfolio Construction Sub-Committee. Andrew has over 23 years’ experience in advising and managing Institutional Funds and Investment teams in Australia, Asia, and the United Kingdom. He worked most recently at AMP Capital Investors as Head of Investment Solutions in the Multi-Asset Group, and before that, Head of Investment Specialists, Listed Assets. He is passionate about portfolio construction that achieve specific client outcomes and risk targets, and has a global interest in post-retirement solutions and has had great experience in designing liability aware investment strategies for insurance and Defined Benefit Pension Funds. He previously spent 7 years with Russell Investments Group as Director of Consulting – Asia Pacific and ultimately as Director of Investment Strategy. In this former role, he was responsible for advising 2 Asian Sovereign Wealth Funds and designing their investment strategies to access capital markets outside of their local investment market. His experience in the United Kingdom included roles in manager research with investment consultant Lane Clark & Peacock and as Investment Analyst with Watson Wyatt. He holds a Master of Economics from the University of Cambridge and is a Fellow of the Institute of Actuaries UK.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 15.26 4.79 1.42