AB Multi-Manager Select Retirement Allocation Fund
Data updated: 2020-06-24
C000147678 — AB Multi-Manager Select Retirement Allocation Fund. Total Return Allocation · $9.11M AUM. Holdings, fees, performance and SEC filings.
C000147678 Fund Overview
AB Multi-Manager Select Retirement Allocation Fund is a US mutual fund managed by Ab Cap Fund, Inc., categorised as Total Return 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 Cap Fund, Inc.
- Category: Total Return Allocation
- Assets under management: $9.11M
- SEC CIK: 0000081443
- SEC series ID: S000047117
- Share class ID: C000147678
C000147678 Investment Objective and Strategy
AB Multi-Manager Select Retirement Allocation Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Ab Cap Fund, Inc..
Investment objective
The Fund's investment objective is to seek the highest total return (total return includes capital appreciation and income) over time consistent with its asset mix.
Principal investment strategy
"The Fund seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income. To achieve its investment objective, the Fund focuses its investments while minimizing short term risks on a combination of AB Mutual Funds and mutual funds and exchange-traded funds, or ETFs, managed by unaffiliated third parties (""Underlying Funds"") representing a variety of asset classes and investment styles. The Fund invests in the Underlying Funds in accordance with its current asset mix. In order to implement the Fund's investment strategies, Morningstar Investment Management LLC (""Morningstar""), the Fund's sub-adviser, selects Underlying Funds within each asset class for investment by the Fund from among AB Mutual Funds and funds offered by other fund complexes that have entered into a participation agreement or similar arrangement with the Fund.
The Adviser has directed Morningstar to normally select Underlying Funds so that 10% to 50% of the Fund's net assets is invested in AB Mutual Funds. ETFs will normally represent a significant portion of the Fund's investments, and these ETFs are typically passive vehicles intended to track the performance of particular securities indices rather than actively-managed funds. The Fund is managed according to a conservative asset allocation, and although the Adviser may vary the relative weightings of the Fund's asset classes as described below, the portfolio allocation will not necessarily become more conservative over time. 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, fixed-income diversifiers, core fixed-income securities and short duration fixed-income securities (including high yield bonds or ""junk bonds"").
For these purposes, inflation sensitive instruments include investments in funds focused on real estate securities, commodities and inflation-indexed securities, fixed-income diversifiers include investments in funds engaged in certain alternative strategies that seek reduced volatility and low correlation with fixed-income markets such as market neutral funds, short duration fixed-income securities include investments in funds focused on minimizing risk of loss by maintaining average maturities of three years or less, defensive equity securities include investments in funds focusing on low volatility equities and other equity strategies emphasizing high-quality cash flows and dividends, and equity diversifiers include investments in funds engaged in certain alternative strategies that seek reduced volatility and limited correlation with equity markets such as equity long/short funds.
The Fund may also invest directly in investments within each asset class. The Fund invests significantly in fixed-income securities and short-term bonds. Each Underlying Fund may enter into derivatives transactions, such as options, futures contracts, forwards and swaps, in an effort to earn income, to gain or adjust exposure to individual securities or markets, or to protect all or a portion of the Underlying Fund's portfolio from a decline in value. The Fund's target asset mix is approximately 26.5% core fixed-income securities, 24% short duration fixed-income securities, 16.8% inflation sensitive instruments, 15.5% traditional equity securities, 10.2% defensive equity securities, 5% fixed-income diversifiers and 2% equity diversifiers. The Fund's investments in fixed-income and equity asset classes may include Underlying Funds investing in U.S.
and non-U.S. securities. The Adviser will cause the relative weightings of the Fund's asset classes to vary from the target asset mix in light of market conditions and forecasts, but usually by not more than plus/minus 10%. Appreciation and/or depreciation of the Underlying Funds representing various asset classes may cause the relative weightings to vary by more than 10%, and during adverse market conditions the Adviser may cause the relative weightings to be more than 10% more conservative than the typical asset mix for that point in time. In making asset allocation decisions, the Adviser uses its proprietary dynamic asset allocation process (""DAA""). 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 will aim 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 asset classes when DAA suggests that market risks relevant to those asset classes are rising but return opportunities are declining. The Adviser expects to pursue this process for the Fund primarily by adjusting Underlying Fund investments."
C000147678 Costs and Fees
C000147678 costs about $66 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.66%
- Gross expense ratio: 2.70%
- Portfolio turnover: 58%
- Brokerage commissions: 1.23 bps of average net assets (SEC N-CEN)
C000147678 Cashflows
Over the 12 months to 2020-04, AB Multi-Manager Select Retirement Allocation Fund had net outflows of $1.33M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2020-04 | $143.80K |
| 2020-03 | $605.50K |
| 2020-02 | −$127.46K |
| 2020-01 | −$576.40K |
| 2019-12 | −$115.29K |
| 2019-11 | $2.28K |
C000147678 Debt Constituents
No individual debt constituents are reported in AB Multi-Manager Select Retirement Allocation Fund's latest SEC N-PORT filing.
C000147678 Prospectus and SEC Filings
Official AB Multi-Manager Select Retirement Allocation Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2019-12-16
- Prospectus (485BPOS) — filed 2018-12-14
- Prospectus (485BPOS) — filed 2017-12-15
- Portfolio holdings (N-PORT) — filed 2020-06-24
- Portfolio holdings (N-PORT) — filed 2020-03-09
- Portfolio holdings (N-PORT) — filed 2019-12-23
- Annual census (N-CEN) — filed 2019-10-11
- Annual census (N-CEN) — filed 2018-10-12
Related Funds
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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.