• The portfolio invests primarily in mortgage-related securities and other asset-backed securities. It may also invest in fixed and floating rate securities and invest in securities of both Investment Grade and non-Investment Grade quality originated by a wide array of originators and sponsors.
  • Investment in the portfolio may also involve general investment risk, debt securities risk, concentration risk, management risk, currency risk and illiquid asset risk. Exposure to debt securities that are below investment grade and unrated can subject the Portfolio to higher volatility and greater risk of loss of principal and interest compared to higher-rated securities. The value of the portfolio 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 portfolio can be lost.
  • The Portfolio invests in the collateralized and securitized products such as Asset Backed Securities, Mortgage Backed Securities and Asset Backed Commercial Papers which may be highly illiquid and prone to substantial price volatility. These instruments may be subject to greater credit, liquidity and interest rate risk compared to other debt securities. They are often exposed to extension and prepayment risks and risks that the payment obligations relating to the underlying assets are not met, which may adversely impact the returns of the securities.
  • The portfolio is entitled to use financial derivative instruments for hedging against interest rate, credit and currency fluctuations, manage duration, as an alternative to investing directly in the underlying investments and efficient portfolio management 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 Portfolio. Exposure to financial derivative instrument may lead to a high risk of significant loss by the Portfolio.
  • Dividends may be paid from capital or effectively out of the capital of the Portfolio, 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 per Share. Distributions for hedged share classes may be adversely affected by differences in the interest rates of the reference currency and the Portfolio’s base currency, resulting in a greater amount of distribution being paid out of capital than other non-hedged share classes.
  • Investors should not rely on this document alone to make investment decisions.

Meet the Team

On 20 February 2014, AllianceBernstein - Short Maturity Dollar Portfolio was renamed as AllianceBernstein - Mortgage Income Portfolio and the Portfolio’s investment objective, policies, management team and benchmark (from 1-Month USD Libor to 3-Month Libor) were also changed. The Portfolio has also expanded use of derivatives, however, financial derivative instruments will not be used extensively for investment purposes. All data prior to 20 February 2014 relates to the AllianceBernstein - Short Maturity Dollar Portfolio.

 

With effective 20 February 2014, AllianceBernstein - Mortgage Income Portfolio (old name as AllianceBernstein - Short Maturity Dollar Portfolio) has retired and re-designated its current Class A, A2, AT, B, B2, BT, C and C2 shares as Class AX, A2X, ATX, BX, B2X, BTX, CX and C2X shares, respectively. These legacy share classes are no longer open for subscription by new investors. Simultaneously with the retirement and re-designation of legacy share classes, this Portfolio has launched new versions of Class A, A2, AT, B, B2, BT, C and C2 shares, open to new investors.

 

For enquiries regarding the Net Asset Value (NAV) of AllianceBernstein funds, please call (852) 2918 7888.