The sub-fund invests in equity securities of companies that are organised, have substantial business activities in developed countries as well as emerging markets that the Investment Manager believes have lower volatility. It is a feeder fund investing all or substantially all of its assets in a portfolio (“underlying scheme”) under AllianceBernstein. Investor should note that there may be additional fees involved.
Investment in the sub-fund may also involve general investment risk and risks of investing in underlying scheme.
The underlying scheme may invest in emerging markets, which are subject to higher volatility and higher risks (e.g. liquidity risk, currency risk, political risk, regulatory risk, economic risk, legal and taxation risk, settlement risk and custody risk).
Investment in the underlying scheme may also involve equities securities risk, concentration risk, small capitalization companies risk and currency risk. The value of the underlying scheme can be volatile and can go down substantially within a short period of time. It is possible that the entire value of your investment in the sub-fund or the underlying scheme can be lost.
The underlying scheme is entitled to use financial derivative instruments for hedging, efficient portfolio management and other investment purposes which may involve counterparty/credit risk, liquidity risk, valuation risk, volatility risk and over-the-counter transaction risk. The leverage element/component of a financial derivative instrument can result in a loss significantly greater than the amount invested in the financial derivative instrument by the underlying scheme or the sub-fund. Exposure to financial derivative instrument may lead to a high risk of significant loss by the sub-fund or the underlying scheme.
Dividends may be paid from capital or effectively out of the capital of the sub-fund, which may amount to a partial return or withdrawal of an investor’s original investment or from any capital gains attributable to that original investment and result in an immediate decrease of the net asset value of the relevant units. Distributions and net asset value of currency hedged unit classes may be adversely affected by differences in the interest rates of the class currency of the currency hedged unit classes and the sub-fund’s base currency, resulting in a greater amount of distribution being paid out of capital than other non-hedged unit classes.
Investors should not rely on this document alone to make investment decisions.

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