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AllianceBernstein - Global High Yield Portfolio (USD) A2
Last NAV
USD
 
17.31
(Last Update : 2021/10/21)
1-Month return
 
-0.92%
Fund House AllianceBernstein Hong Kong Ltd
Fund Type Fixed Income Funds
Fund Size
 
20.81B
Sector High Yield
Geographic Allocation Global
 
Fund Investment Objective & Strategy
The Portfolio seeks to produce high current income as well as overall total return by investing primarily in a portfolio of high yield, non-investment grade, debt securities of issuers located throughout the world, including the U.S. and emerging countries. The Portfolio invests in both U.S. dollar and non-U.S. dollar denominated securities. The Investment Manager utilizes the investment research of both its global fixed income and high yield teams.
 
 
Key Risks
Risk in investing in financial derivative instruments: The Portfolio is entitled to use derivative instruments for hedging and efficient portfolio management purposes which may involve additional risks. In adverse situations, the Portfolio's use of derivative instruments may become ineffective in hedging or efficient portfolio management and the Portfolio may suffer significant losses. Credit Risks - General: The Portfolio will invest in fixed-income securities (including bonds) issued by companies and other entities and the Portfolio will be subject to the risk that a particular issuer may not fulfil its payment or other obligations in respect of such fixed-income securities. Credit Risk – Downgrading Risk: The Portfolio will invest in fixed-income securities (including bonds). An issuer of such fixed-income securities may experience an adverse change in its financial condition which may in turn result in a decrease in the credit rating assigned by an internationally recognized statistical ratings organization to such issuer and fixed-income securities issued by such issuer. Credit ratings of fixed-income securities reflect the issuer's ability to make timely payments of interest or principal—the lower the rating, the higher the risk of default. The adverse change in financial condition or decrease in credit rating(s) of issuer may result in increased volatility in, and adverse impact on, the price of the relevant fixed-income security and negatively affect liquidity, making any such fixed-income security more difficult to sell. Fixed Income Securities Risk - Lower Rated and Unrated Instruments: The Portfolio will invest in high yield, high risk fixed-income securities (including bonds) that are rated in the lower rating categories (i.e. below investment grade which is rated Baa (including Baa1, Baa2 and Baa3) or higher by Moody's Investors Services, Inc or BBB (including BBB+ and BBB-) or higher by Standard & Poor's, or the equivalent thereof by at least one recognized statistical ratings organization) or which are unrated. Fixed-income securities below investment grade are considered to be subject to greater risk of loss of principal and interest than higher-rated securities and are considered to be predominantly speculative with respect to the issuer's capacity to pay interest and repay principal, which may in any case decline during sustained periods of deteriorating economic conditions or rising interest rates. The market for lower-rated securities may be thinner and less active than that for higher-quality securities, which can adversely affect the prices at which these securities can be sold. Fixed Income Securities Risk - General: The Portfolio will invest in fixed-income securities where their value will change in response to fluctuations in interest rates and currency exchange rates, as well as changes in credit quality of the issuer. Illiquid Assets Risk: The difficulty of purchasing or selling a security at an advantageous time or price, which may have a negative impact on the portfolio's performance. Country Risk - Emerging Markets: The Portfolio will investment in emerging markets, which are subject to higher risks (for example, liquidity risk, currency risk, political risk, regulatory risk and economic risk) and higher volatility than portfolios investing in developed market. Fluctuations in currency exchange rates may negatively affect the value of the investment or reduce returns - these risks are magnified in emerging or developing markets. Currency Risk: Investing in global securities includes fluctuations in currency exchange risk, which may negatively affect the value of the investment or reduce returns.
 
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