AB Tax-Managed All Market Income Portfolio
Data updated: 2023-01-30
C000029024 — AB Tax-Managed All Market Income Portfolio. Balanced Allocation · $67.75M AUM · 1.75% expense ratio. Holdings, fees, performance and SEC filings.
C000029024 Fund Overview
AB Tax-Managed All Market Income Portfolio is a US mutual fund managed by Ab Portfolios, categorised as Balanced Allocation. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Ab Portfolios
- Category: Balanced Allocation
- Assets under management: $67.75M
- 1-year return: -17.1%
- SEC CIK: 0000812015
- SEC series ID: S000010513
- Share class ID: C000029024
C000029024 Investment Objective and Strategy
AB Tax-Managed All Market Income Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Ab Portfolios.
Investment objective
The Fund's investment objective is to seek current income with consideration of capital appreciation.
Principal investment strategy
"The Adviser allocates the Fund's investments primarily among a broad range of income-producing securities, including common stock of companies that regularly pay dividends (including real estate investment trusts, or REITs), preferred stocks, fixed-income securities (including those with lower credit ratings), and derivatives related to these types of securities. The Fund pursues a global strategy, typically investing in securities of issuers located in the United States and in other countries throughout the world, including emerging market countries. In selecting equity securities for the Fund, the Adviser will focus on securities that have high dividend yields and that it believes are undervalued by the market relative to their long-term earnings potential. In order to provide diversification and the opportunity for increased return, the Adviser will also acquire equity securities for the Fund that are expected to exhibit relatively little correlation with the returns of the Fund's holdings in high dividend yield equity securities.
The Fund intends to meet the tax requirement for passing municipal bond interest through to Fund shareholders as tax-exempt interest dividends, which currently requires that at least 50% of the Fund's assets be invested in tax-exempt debt securities. In the event that the Internal Revenue Code or the related rules, regulations and interpretations of the Internal Revenue Service should in the future change so as to permit the Fund to pass through tax-exempt dividends when the Fund invests a lesser amount of its assets in tax-exempt debt securities, the Fund's allocations to equity securities may increase. In selecting tax-exempt securities for the Fund's debt investments, the Adviser may draw on the capabilities of separate investment teams that specialize in different areas that are generally defined by the maturity of the debt securities and/or their ratings.
These fixed-income teams draw on the resources and expertise of the Adviser's fixed-income research staff, which includes fixed-income research analysts and economists. In addition, the Fund may engage in certain alternative income strategies that generally utilize derivatives to diversify sources of income and manage risk. For example, the Fund may take long positions in currency derivatives on higher yielding currencies and/or short positions in currency derivatives on lower yielding currencies. The Adviser will adjust the Fund's investment exposure utilizing the Adviser's Dynamic Asset Allocation (""DAA"") approach. DAA comprises a series of analytical and forecasting tools employed by the Adviser to gauge fluctuations in the risk/return profile of various asset classes. DAA seeks to adjust the Fund's investment exposure in changing market conditions and thereby reduce overall portfolio volatility by mitigating the effects of market fluctuations, while preserving consistent long-term return potential.
For example, the Adviser may seek to reduce the Fund's risk exposure to one or more assets classes when DAA suggests that market risks relevant to those asset classes are rising but return opportunities are declining. In addition to merely increasing or decreasing asset class exposure by buying or selling securities of that asset class, the Adviser may pursue DAA implementation for the Fund by investing in derivatives or exchange-traded funds (""ETFs""). The Adviser intends to utilize a variety of derivatives in its management of the Fund. The Adviser may use derivatives to gain exposure to an asset class, such as using interest rate derivatives to gain exposure to certain bonds. As noted above, the Adviser may separately pursue certain alternative investment strategies that utilize derivatives, and may enter into derivatives in making the adjustments called for by DAA.
As a result of the use of derivatives, the Fund will frequently be leveraged in the sense that its gross investment exposure substantially exceeds its net assets. Currency exchange rate fluctuation can have a dramatic impact on returns. The Fund's foreign currency exposures will come from investment in securities priced or denominated in foreign currencies and from direct holdings in foreign currencies and currency-related derivatives. The Adviser may seek to hedge all or a portion of the currency exposure resulting from Fund investments or decide not to hedge this exposure."
C000029024 Holdings
Top 10 holdings of AB Tax-Managed All Market Income Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| State of Connecticut Special Tax Revenue | 1.46% |
| Ubs AG | 1.40% |
| Buckeye Tobacco Settlement Financing Authority | 1.19% |
| Development Authority for Fulton County | 1.18% |
| Apple Inc | 1.09% |
| City of Milwaukee WI | 0.98% |
| Microsoft Corp | 0.96% |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue | 0.95% |
| New Jersey Turnpike Authority | 0.89% |
| City of Minneapolis MN/St Paul Housing & Redevelopment Authority | 0.89% |
C000029024 Portfolio Allocation
Asset-class allocation of AB Tax-Managed All Market Income Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 60.9% |
| Equity | 35.9% |
| Derivatives | 0.9% |
| Cash & Equivalents | 0.8% |
| Real Estate | 0.5% |
C000029024 Performance
Total returns for C000029024 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -17.1% |
| 3 years (annualised) | -4.4% |
C000029024 Risk Information
Risk metrics for C000029024, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 13.6%
C000029024 Costs and Fees
C000029024 costs about $175 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.75%
- Gross expense ratio: 2.16%
- Portfolio turnover: 72%
- Brokerage commissions: 6.22 bps of average net assets (SEC N-CEN)
C000029024 Cashflows
Over the 12 months to 2022-11, AB Tax-Managed All Market Income Portfolio had net outflows of $16.50M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2022-11 | −$5.45M |
| 2022-10 | −$1.04M |
| 2022-09 | −$1.54M |
| 2022-08 | −$9.09M |
| 2022-07 | −$559.24K |
| 2022-06 | −$710.53K |
C000029024 Debt Constituents
Largest debt holdings of AB Tax-Managed All Market Income Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| State of Connecticut Special Tax Revenue | 1.46% |
| Buckeye Tobacco Settlement Financing Authority | 1.19% |
| Development Authority for Fulton County | 1.18% |
| City of Milwaukee WI | 0.98% |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue | 0.95% |
| New Jersey Turnpike Authority | 0.89% |
| City of Minneapolis MN/St Paul Housing & Redevelopment Authority | 0.89% |
| County of Miami-Dade FL Aviation Revenue | 0.89% |
| City of Atlanta GA Airport Passenger Facility Charge | 0.82% |
| Harris County-Houston Sports Authority | 0.82% |
C000029024 Prospectus and SEC Filings
Official AB Tax-Managed All Market Income Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-12-28
- Prospectus (485BPOS) — filed 2021-12-01
- Prospectus (485BPOS) — filed 2020-12-29
- Portfolio holdings (N-PORT) — filed 2023-01-30
- Portfolio holdings (N-PORT) — filed 2022-10-25
- Portfolio holdings (N-PORT) — filed 2022-07-25
- Annual census (N-CEN) — filed 2022-11-03
- Annual census (N-CEN) — filed 2021-11-10
Related Funds
Other Balanced Allocation funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.