0001193125-13-060875.txt : 20130218 0001193125-13-060875.hdr.sgml : 20130218 20130214175412 ACCESSION NUMBER: 0001193125-13-060875 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20130215 DATE AS OF CHANGE: 20130214 EFFECTIVENESS DATE: 20130215 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ALLIANCEBERNSTEIN BOND FUND INC CENTRAL INDEX KEY: 0000003794 IRS NUMBER: 132754393 FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 002-48227 FILM NUMBER: 13616538 BUSINESS ADDRESS: STREET 1: ALLIANCEBERNSTEIN LP STREET 2: 1345 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10105 BUSINESS PHONE: 2129691000 MAIL ADDRESS: STREET 1: ALLIANCEBERNSTEIN LP STREET 2: 1345 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10105 FORMER COMPANY: FORMER CONFORMED NAME: ALLIANCE BOND FUND INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ALLIANCEBERNSTEIN BOND FUND INC CENTRAL INDEX KEY: 0000003794 IRS NUMBER: 132754393 FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-02383 FILM NUMBER: 13616539 BUSINESS ADDRESS: STREET 1: ALLIANCEBERNSTEIN LP STREET 2: 1345 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10105 BUSINESS PHONE: 2129691000 MAIL ADDRESS: STREET 1: ALLIANCEBERNSTEIN LP STREET 2: 1345 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10105 FORMER COMPANY: FORMER CONFORMED NAME: ALLIANCE BOND FUND INC DATE OF NAME CHANGE: 19920703 0000003794 S000010305 AllianceBernstein Intermediate Bond Portfolio C000028493 Class A ABQUX C000028494 Class B ABQBX C000028495 Class C ABQCX C000028496 Advisor Class ABQYX C000028497 Class R ABQRX C000028498 Class K ABQKX C000028499 Class I ABQIX 0000003794 S000034979 AllianceBernstein Limited Duration High Income Portfolio C000107580 Advisor Class ALHYX C000107583 Class A ALHAX C000107584 Class C ALHCX 485BPOS 1 d439928d485bpos.htm ALLIANCEBERNSTEIN BOND FUND, INC.- 485B XBRL AllianceBernstein Bond Fund, Inc.- 485B XBRL

As filed with the Securities and Exchange Commission on February 15, 2013

File Nos. 2-48227

811-02383

 

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington,  D.C.  20549

 

 

FORM N-1A

REGISTRATION STATEMENT

UNDER

  THE SECURITIES ACT OF 1933    ¨
  Pre-Effective Amendment No.    ¨
  Post-Effective Amendment No. 113    x

and/or

REGISTRATION STATEMENT

UNDER

THE INVESTMENT COMPANY ACT OF 1940

  Amendment No. 91    x

 

 

ALLIANCEBERNSTEIN BOND FUND, INC.

(Exact Name of Registrant as Specified in Charter)

 

 

1345 Avenue of the Americas,

New York, New York 10105

(Address of Principal Executive Office) (Zip Code)

Registrant’s Telephone Number, including Area Code:

(800) 221-5672

 

 

EMILIE D. WRAPP

AllianceBernstein L.P.

1345 Avenue of the Americas

New York, New York l0105

(Name and address of agent for service)

 

 

Copies of communications to:

KATHLEEN K. CLARKE

Seward & Kissel LLP

901 K Street, Suite 800

Washington, DC 20001

 

 

It is proposed that this filing will become effective (check appropriate box)

  ¨ immediately upon filing pursuant to paragraph (b)
  x on February 15, 2013 pursuant to paragraph (b)
  ¨ 60 days after filing pursuant to paragraph (a)(1)
  ¨ on (date) pursuant to paragraph (a)(1)
  ¨ 75 days after filing pursuant to paragraph (a)(2)
  ¨ on (date) pursuant to paragraph (a)(2) of Rule 485.

If appropriate, check the following box:

  ¨ This post-effective amendment designates a new effective date for a previously filed post-effective amendment.

This Post-Effective Amendment No. 113 relates solely to the Class A, Class B, Class C, Class R, Class K, Class I and Advisor Class shares, as applicable, of the AllianceBernstein Intermediate Bond Portfolio and the Class A, Class C and Advisor Class shares, as applicable, of the AllianceBernstein Limited Duration High Income Portfolio. No information in the Registrant’s Registration Statement relating to the Class 1, Class 2, Class A, Class C, Class R, Class K, Class I and Advisor Class shares, as applicable, of the AllianceBernstein Bond Inflation Strategy, the Class 1, Class 2, Class A, Class C and Advisor Class shares, as applicable, of the AllianceBernstein Municipal Bond Inflation Strategy, the Class 1, Class 2, Class A, Class C, Class R, Class K, Class I and Advisor Class shares, as applicable, of the AllianceBernstein Real Asset Strategy, the Class A, Class C, Class R, Class K, Class I, Advisor Class shares, Class 1 and Class 2 shares, as applicable, of the AllianceBernstein International Bond Portfolio, the Class 1, Class 2, Class R, Class K and Class I shares, as applicable, of the AllianceBernstein Limited Duration High Income Portfolio and the Class A, Class C, Class R, Class K, Class I, Advisor Class, Class 1 and Class 2 shares, as applicable, of the AllianceBernstein Government Reserves Portfolio is amended or superseded.

 

 

 

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, the Registrant certifies that it meets all of the requirements for effectiveness of this Amendment to its Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this Post-Effective Amendment to its Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City and State of New York, on the 15th day of February, 2013.

 

ALLIANCEBERNSTEIN BOND FUND, INC.
By:  

Robert M. Keith*

 

Robert M. Keith

President

Pursuant to the requirements of the Securities Act of 1933, as amended this Post-Effective Amendment to the Registration Statement has been signed below by the following persons in the capacities and on the dates indicated:

 

     

Signature

   

Title

  

Date

1)

    Principal Executive Officer:     
  

Robert M. Keith*

Robert M. Keith

   

President and

Chief Executive Officer

   February 15, 2013
       

2)

   

Principal Financial and

Accounting Officer:

     
  

/s/    Joseph J. Mantineo

Joseph J. Mantineo

   

Treasurer and

Chief Financial Officer

   February 15, 2013
       

3)

    Directors:     
  

John H. Dobkin*

Michael J. Downey*

William H. Foulk, Jr.*

D. James Guzy*

Nancy P. Jacklin*

Robert M. Keith*

Garry L. Moody*

Marshall C. Turner, Jr.*

Earl D. Weiner*

     
       

*By:

   

/s/    Stephen J. Laffey

Stephen J. Laffey

(Attorney-in-fact)

      February 15, 2013

Index to Exhibits

 

Exhibit No.

   

Description of Exhibits

EX-101.INS    XBRL Instance Document
EX-101.SCH    XBRL Taxonomy Extension Schema Document
EX-101.CALC    XBRL Taxonomy Extension Calculation Linkbase
EX-101.DEF    XBRL Taxonomy Extension Definition Linkbase
EX-101.LAB    XBRL Taxonomy Extension Labels Linkbase
EX-101.PRE    XBRL Taxonomy Extension Presentation Linkbase
 EX-101.INS 3 abbfi-20130130.xml XBRL INSTANCE DOCUMENT 0000003794 2012-02-01 2013-01-31 0000003794 abbfi:S000010305Member 2012-02-01 2013-01-31 0000003794 abbfi:S000034979Member 2012-02-01 2013-01-31 0000003794 abbfi:S000010305Member abbfi:C000028493Member 2012-02-01 2013-01-31 0000003794 abbfi:S000010305Member abbfi:C000028494Member 2012-02-01 2013-01-31 0000003794 abbfi:S000010305Member abbfi:C000028495Member 2012-02-01 2013-01-31 0000003794 abbfi:S000010305Member abbfi:C000028496Member 2012-02-01 2013-01-31 0000003794 abbfi:S000010305Member abbfi:C000028497Member 2012-02-01 2013-01-31 0000003794 abbfi:S000010305Member abbfi:C000028498Member 2012-02-01 2013-01-31 0000003794 abbfi:S000010305Member abbfi:C000028499Member 2012-02-01 2013-01-31 0000003794 abbfi:S000034979Member abbfi:C000107584Member 2012-02-01 2013-01-31 0000003794 abbfi:S000034979Member abbfi:C000107580Member 2012-02-01 2013-01-31 0000003794 abbfi:S000034979Member abbfi:C000107583Member 2012-02-01 2013-01-31 0000003794 abbfi:S000034979Member rr:AfterTaxesOnDistributionsMember abbfi:C000107583Member 2012-02-01 2013-01-31 0000003794 abbfi:S000034979Member rr:AfterTaxesOnDistributionsAndSalesMember abbfi:C000107583Member 2012-02-01 2013-01-31 0000003794 abbfi:S000034979Member abbfi:BarclaysCapitalGlobalHighYieldOneFiveYearIndexMember 2012-02-01 2013-01-31 0000003794 abbfi:S000010305Member rr:AfterTaxesOnDistributionsMember abbfi:C000028493Member 2012-02-01 2013-01-31 0000003794 abbfi:S000010305Member rr:AfterTaxesOnDistributionsAndSalesMember abbfi:C000028493Member 2012-02-01 2013-01-31 0000003794 abbfi:S000010305Member abbfi:BarclaysCapitalUsAggregateBondIndexMember 2012-02-01 2013-01-31 pure iso4217:USD 485BPOS 2012-09-30 ALLIANCEBERNSTEIN BOND FUND INC 0000003794 false 2013-01-30 2013-01-31 2013-01-31 ALLIANCEBERNSTEIN INTERMEDIATE BOND PORTFOLIO INVESTMENT OBJECTIVE The Fund's investment objective is to generate income and price appreciation without assuming what the Adviser considers undue risk. FEES AND EXPENSES OF THE FUND This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. More information about these and other discounts is available from your financial intermediary and in Investing in the Funds--Sales Charge Reduction Programs for Class A Shares on page 43 of this Prospectus and in Purchase of Shares--Sales Charge Reduction Programs for Class A Shares on page 108 of the Funds' SAI. You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. 100000 SHAREHOLDER FEES (fees paid directly from your investment) ALLIANCEBERNSTEIN LIMITED DURATION HIGH INCOME PORTFOLIO INVESTMENT OBJECTIVE 0.0425 0 0 0 0 0 0 The Fund's investment objective is to seek the highest level of income that is available without assuming what the Adviser considers to be undue risk to principal. FEES AND EXPENSES OF THE FUND This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. More information about these and other discounts is available from your financial intermediary and in Investing in the Fund--Sales Charge Reduction Programs for Class A Shares on page 43 of this Prospectus and in Purchase of Shares--Sales Charge Reduction Programs for Class A Shares on page 108 of the Funds' SAI. SHAREHOLDER FEES (fees paid directly from your investment) 0 0 0.0425 0 0.01 0 0 0 0 ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) 0.006 0.006 0.006 0.003 0.01 0 0.0008 0.0013 0.002 0.009 0.0092 0.0113 0.0098 0.0105 0.0133 0.0188 0.0265 0.0193 -0.0083 -0.009 -0.0118 0.0105 0.0175 0.0075 EXAMPLES The Examples are intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Examples assume that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Examples also assume that your investment has a 5% return each year, that the Fund's operating expenses stay the same and that the fee waiver remains in effect as agreed upon. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 2398 2845 2055 1245 1239 815 832 647 369 528 278 77 PORTFOLIO TURNOVER The Fund pays transaction costs, such as commissions, when it buys or sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These transaction costs, which are not reflected in the Annual Fund Operating Expenses or in the Examples, affect the Fund's performance. During the most recent fiscal period, the Fund's portfolio turnover rate was 44% of the average value of its portfolio. PRINCIPAL STRATEGIES The Fund invests primarily in fixed-income securities, with an emphasis on corporate fixed-income securities rated below investment grade (high-yield securities or &#8220;junk bonds&#8221;), unrated securities considered by the Adviser to be of comparable quality, and related derivatives. Under normal circumstances, the Fund will maintain a dollar-weighted average duration of less than four years, although it may invest in individual fixed-income securities with durations in excess of four years.<br/><br/>The Fund may also invest in investment grade fixed-income securities, high-yield securities of governments and government-related issuers, loan participations and, to a lesser extent, equity securities, and derivatives related to these instruments. The Fund will not invest more than 10% of its net assets in securities rated at or below Caa1 by Moody's, CCC+ by S&amp;P or CCC by Fitch at time of purchase. (For this purpose of this 10% limit, the Fund will rely on the highest rating from any of the three rating agencies, and the notional amount of derivatives related to these instruments will be counted).<br/><br/>The Fund will invest on a global basis, including securities of issuers in both developed and emerging market countries. The Fund may invest in securities denominated in foreign currencies, although it expects to frequently use hedging instruments to attempt to limit the currency exposure resulting from such investments.<br/><br/>In selecting securities for purchase or sale by the Fund, the Adviser will attempt to take advantage of inefficiencies that it believes exist in the global fixed-income markets. These inefficiencies arise from investor behavior, market complexity, and the investment limitations to which investors are subject. The Adviser will combine its quantitative forecasts with fundamental economic and credit research in seeking to exploit these inefficiencies.<br/><br/>The Adviser will employ strategies to manage the Fund's volatility relative to the global high-yield market. Such strategies may include shortening the duration of the Fund, adding higher rated investments, investing in various fixed-income sectors with relatively low correlation among them, and using hedging strategies that seek to provide protection from substantial market downturns. The Adviser will utilize different combinations of the above strategies at different points in time, taking into consideration, among other factors, the shape of the credit curve, the relative effect on yield associated with changes in credit quality, and the cost of hedging strategies.<br/><br/>The Fund expects to use derivatives, such as options, futures, forwards and swaps, to a significant extent. Derivatives may provide more efficient and economical exposure to market segments than direct investments, and may also be a quicker and more efficient way to alter the Fund's exposure. For example, the Fund may use credit default and interest rate swaps to gain exposure to the fixed-income markets. In determining when and to what extent to enter into derivative transactions, the Adviser will consider factors such as the risks and returns of these investments relative to direct investments and the costs of such transactions. Derivatives such as options and forwards may also be used for hedging purposes, including to hedge against interest rate, credit market and currency fluctuations. PRINCIPAL RISKS <ul type = "square"><li>MARKET RISK: The value of the Fund's assets will fluctuate as the stock, bond, currency and commodity markets fluctuate. The value of the Fund's investments may decline, sometimes rapidly and unpredictably, simply because of economic changes or other events that affect large portions of the market.</li></ul><ul type = "square"><li>INTEREST RATE RISK: Changes in interest rates will affect the value of investments in fixed-income securities. When interest rates rise, the value of existing investments in fixed-income securities tends to fall and this decrease in value may not be offset by higher income from new investments. Interest rate risk is generally greater for fixed-income securities with longer maturities or durations.</li></ul><ul type = "square"><li>DURATION RISK: Duration is a measure that relates the expected price volatility of a fixed-income security to changes in interest rates. The duration of a fixed-income security may be shorter than or equal to full maturity of a fixed-income security. Fixed-income securities with longer durations have more risk and will decrease in price as interest rates rise. For example, a fixed-income security with a duration of three years will decrease in value by approximately 3% if interest rates increase by 1%.</li></ul><ul type = "square"><li>CREDIT RISK: An issuer or guarantor of a fixed-income security, or the counterparty to a derivatives or other contract, may be unable or unwilling to make timely payments of interest or principal, or to otherwise honor its obligations. The issuer, guarantor or counterparty may default causing a loss of the full principal amount of a security or the amount to which the Fund is entitled in a derivative transaction. The degree of risk for a particular security may be reflected in its credit rating. There is the possibility that the credit rating of a fixed-income security may be downgraded after purchase, which may adversely affect the value of the security.</li></ul><ul type = "square"><li>BELOW INVESTMENT GRADE SECURITIES RISK: Investments in fixed-income securities with lower ratings, commonly known as &#8220;junk bonds&#8221;, tend to have a higher probability that an issuer will default or fail to meet its payment obligations. These securities may be subject to greater price volatility due to such factors as specific corporate developments, interest rate sensitivity, negative perceptions of the junk bond market generally and less secondary market liquidity.</li></ul><ul type = "square"><li>INFLATION RISK: This is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the real value of the Fund's assets can decline as can the real value of the Fund's distributions.</li></ul><ul type = "square"><li>DERIVATIVES RISK: Investments in derivatives may be illiquid, difficult to price, and leveraged so that small changes may produce disproportionate losses for the Fund, and may be subject to counterparty risk to a greater degree than more traditional investments.</li></ul><ul type = "square"><li>FOREIGN (NON-U.S.) RISK: Investments in securities of non-U.S. issuers may involve more risk than those of U.S. issuers. These securities may fluctuate more widely in price and may be less liquid due to adverse market, economic, political, regulatory or other factors.</li></ul><ul type = "square"><li>EMERGING MARKET RISK: Investments in emerging market countries may have more risk because the markets are less developed and less liquid, and because these investments may be subject to increased economic, political, regulatory and other uncertainties.</li></ul><ul type = "square"><li>CURRENCY RISK: Fluctuations in currency exchange rates may negatively affect the value of the Fund's investments or reduce its returns.</li></ul><ul type = "square"><li>DIVERSIFICATION RISK: The Fund may have more risk because it is &#8220;non-diversified&#8221;, meaning that it can invest more of its assets in a smaller number of issuers and that adverse changes in the value of one security could have a more significant effect on the Fund's net asset value, or NAV.</li></ul><ul type = "square"><li>MANAGEMENT RISK: The Fund is subject to management risk because it is an actively managed investment fund. The Adviser will apply its investment techniques and risk analyses in making investment decisions, but there is no guarantee that its techniques will produce the intended results.</li></ul>As with all investments, you may lose money by investing in the Fund. BAR CHART AND PERFORMANCE INFORMATION The bar chart and performance information provide an indication of the historical risk of an investment in the Fund by showing:<ul type = "square"><li>how the Fund's performance changed over the life of the Fund; and</li></ul><ul type = "square"><li>how the Fund's average annual returns for one year and over the life of the Fund compare to those of a broad-based securities market index.</li></ul>You may obtain updated performance information on the Fund's website at www.AllianceBernstein.com (click on &#8220;Individuals--U.S.&#8221; then &#8220;Products &amp; Performance&#8221;).<br/><br/>The Fund's past performance before and after taxes, of course, does not necessarily indicate how it will perform in the future. BAR CHART The annual returns in the bar chart are for the Fund's Class A shares and do not reflect sales loads. If sales loads were reflected, returns would be less than those shown. 0.1187 BEST QUARTER 2012-09-30 0.0347 WORST QUARTER 2012-06-30 -0.0171 Calendar Year End (%)<br/><br/>During the period shown in the bar chart, the Fund's:<br/><br/>BEST QUARTER WAS UP 3.47% IN THE 3RD QUARTER, 2012; AND WORST QUARTER WAS DOWN -1.71% IN THE 2ND QUARTER, 2012. 0 0.03 0.01 0 0 0 0 0.0527 0.0716 0.046 0.0993 0.1776 0.1225 0 0 0 0 0 0 0 0.1729 0.1172 0.1064 0.0525 0.0714 0.0495 2011-12-07 2011-12-07 2011-12-07 2011-12-07 2011-12-07 EXAMPLES The Examples are intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Examples assume that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Examples also assume that your investment has a 5% return each year, that the Fund's operating expenses stay the same and that the fee waiver is in effect for only the first year. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 513 463 263 61 112 87 61 205 December 7, 2014 302 391 212 You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AllianceBernstein Mutual Funds. 526 635 718 100000 As with all investments, you may lose money by investing in the Fund. <ul type = "square"><li>how the Fund's performance changed over the life of the Fund; and</li></ul><ul type = "square"><li>how the Fund's average annual returns for one year and over the life of the Fund compare to those of a broad-based securities market index.</li></ul> www.AllianceBernstein.com The Fund's past performance before and after taxes, of course, does not necessarily indicate how it will perform in the future. 534 362 690 The annual returns in the bar chart are for the Fund's Class A shares and do not reflect sales loads. 375 914 932 941 Are an estimate, which is based on the highest historical individual federal marginal income tax rates, and do not reflect the impact of state and local taxes; Are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Are shown for Class A shares only and will vary for Class C shares because these Classes have different expense ratios; 1661 2002 1579 851 1542 1202 817 0.0109 0.0012 0.0069 0.0187 0.0385 0.0589 0.0536 0.0562 0.0588 0.0421 0.0512 0.0367 0.035 0.0534 0.0532 0.0638 0.0583 0.061 0.064 0.0595 0.0444 0.0295 0.0289 0.0418 0.0521 0.0468 0.0495 0.0522 0.0518 163 163 535 526 932 914 1661 2002 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleShareholderFeesAllianceBernsteinLimitedDurationHighIncomePortfolio column period compact * ~</div> PORTFOLIO TURNOVER PRINCIPAL STRATEGIES PRINCIPAL RISKS BAR CHART AND PERFORMANCE INFORMATION BAR CHART PERFORMANCE TABLE<br/>AVERAGE ANNUAL TOTAL RETURNS<br/><br/>(For the periods ended December 31, 2012) <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAnnualFundOperatingExpensesAllianceBernsteinLimitedDurationHighIncomePortfolio column period compact * ~</div> The Fund pays transaction costs, such as commissions, when it buys or sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These transaction costs, which are not reflected in the Annual Fund Operating Expenses or in the Examples, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 110% of the average value of its portfolio. The Fund invests, under normal circumstances, at least 80% of its net assets in fixed-income securities. The Fund expects to invest in readily marketable fixed-income securities with a range of maturities from short- to long-term and relatively attractive yields that do not involve undue risk of loss of capital. The Fund expects to invest in fixed-income securities with a dollar-weighted average maturity of between three to ten years and an average duration of three to six years. The Fund may invest up to 25% of its net assets in below investment grade bonds. The Fund may use leverage for investment purposes.<br/><br/>The Fund may invest without limit in U.S. Dollar-denominated foreign fixed-income securities and may invest up to 25% of its assets in non-U.S. Dollar-denominated foreign fixed-income securities. These investments may include, in each case, developed and emerging market debt securities.<br/><br/>The Adviser selects securities for purchase or sale based on its assessment of the securities' risk and return characteristics as well as the securities' impact on the overall risk and return characteristics of the Fund. In making this assessment, the Adviser takes into account various factors, including the credit quality and sensitivity to interest rates of the securities under consideration and of the Fund's other holdings.<br/><br/>The Fund may invest in mortgage-related and other asset-backed securities, loan participations, inflation-protected securities, structured securities, variable, floating, and inverse floating rate instruments and preferred stock, and may use other investment techniques. The Fund intends, among other things, to enter into transactions such as reverse repurchase agreements and dollar rolls. The Fund may invest, without limit, in derivatives, such as options, futures, forwards, or swaps. <ul type="square"><li>MARKET RISK: The value of the Fund's assets will fluctuate as the stock or bond market fluctuates. The value of its investments may decline, sometimes rapidly and unpredictably, simply because of economic changes or other events that affect large portions of the market.</li></ul><ul type="square"><li>INTEREST RATE RISK: Changes in interest rates will affect the value of investments in fixed-income securities. When interest rates rise, the value of investments in fixed-income securities tends to fall and this decrease in value may not be offset by higher income from new investments. Interest rate risk is generally greater for fixed-income securities with longer maturities or durations.</li></ul><ul type="square"><li>DURATION RISK: Duration is a measure that relates the expected price volatility of a fixed-income security to changes in interest rates. The duration of a fixed-income security may be shorter than or equal to full maturity of a fixed-income security. Fixed-income securities with longer durations have more risk and will decrease in price as interest rates rise. For example, a fixed-income security with a duration of three years will decrease in value by approximately 3% if interest rates increase by 1%.</li></ul><ul type="square"><li>CREDIT RISK: An issuer or guarantor of a fixed-income security, or the counterparty to a derivatives or other contract, may be unable or unwilling to make timely payments of interest or principal, or to otherwise honor its obligations. The issuer or guarantor may default, causing a loss of the full principal amount of a security. The degree of risk for a particular security may be reflected in its credit rating. There is the possibility that the credit rating of a fixed-income security may be downgraded after purchase, which may adversely affect the value of the security.</li></ul><ul type="square"><li>BELOW INVESTMENT GRADE SECURITIES: Investments in fixed-income securities with lower ratings (commonly known as &#8220;junk bonds&#8221;) tend to have a higher probability that an issuer will default or fail to meet its payment obligations. These securities may be subject to greater price volatility due to such factors as specific corporate developments, interest rate sensitivity, negative perceptions of the junk bond market generally and less secondary market liquidity.</li></ul><ul type="square"><li>INFLATION RISK: This is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the value of the Fund's assets can decline as can the value of the Fund's distributions. This risk is significantly greater if the Fund invests a significant portion of its assets in fixed-income securities with longer maturities.</li></ul><ul type="square"><li>FOREIGN (NON-U.S.) RISK: Investments in securities of non-U.S. issuers may involve more risk than those of U.S. issuers. These securities may fluctuate more widely in price and may be less liquid due to adverse market, economic, political, regulatory or other factors.</li></ul><ul type="square"><li>EMERGING MARKET RISK: Investments in emerging market countries may have more risk because the markets are less developed and less liquid as well as being subject to increased economic, political, regulatory or other uncertainties.</li></ul><ul type="square"><li>CURRENCY RISK: Fluctuations in currency exchange rates may negatively affect the value of the Fund's investments or reduce its returns.</li></ul><ul type="square"><li>PREPAYMENT RISK: The value of mortgage-related or asset-backed securities may be particularly sensitive to changes in prevailing interest rates. Early payments of principal on some mortgage-related securities may occur during periods of falling mortgage interest rates and expose the Fund to a lower rate of return upon reinvestment of principal. Early payments associated with mortgage-related securities cause these securities to experience significantly greater price and yield volatility than is experienced by traditional fixed-income securities. During periods of rising interest rates, a reduction in prepayments may increase the effective life of mortgage-related securities, subjecting them to greater risk of decline in market value in response to rising interest rates. If the life of a mortgage-related security is inaccurately predicted, the Fund may not be able to realize the rate of return it expected.</li></ul><ul type="square"><li>LEVERAGE RISK: To the extent the Fund uses leveraging techniques, its net asset value, or NAV, may be more volatile because leverage tends to exaggerate the effects of changes in interest rates and any increase or decrease in the value of the Fund's investments.</li></ul><ul type="square"><li>DERIVATIVES RISK: Investments in derivatives may be illiquid, difficult to price, and leveraged so that small changes may produce disproportionate losses for the Fund, and may be subject to counterparty risk to a greater degree than more traditional investments.</li></ul><ul type="square"><li>MANAGEMENT RISK: The Fund is subject to management risk because it is an actively managed investment fund. The Adviser will apply its investment techniques and risk analyses in making investment decisions, but there is no guarantee that its techniques will produce the intended results.</li></ul>As with all investments, you may lose money by investing in the Fund. 0.0369 0.0348 0.0194 0.0397 0.0568 -0.0826 0.1918 0.092 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAnnualTotalReturnsAllianceBernsteinLimitedDurationHighIncomePortfolioBarChart column period compact * ~</div> 0.0639 0.0557 BEST QUARTER 2009-09-30 0.0786 WORST QUARTER 2008-09-30 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAverageAnnualTotalReturnsTransposedAllianceBernsteinLimitedDurationHighIncomePortfolio column period compact * ~</div> -0.0457 2003-11-03 2005-03-01 2005-03-01 0.0045 0.0045 0.0045 0.0045 0.0045 0.0045 0.0045 0.003 0.01 0.01 0 0.005 0.0025 0 0.009 0.016 0.016 0.006 0.011 0.0085 0.006 -0.0014 -0.0019 -0.0009 -0.0006 -0.001 -0.0009 0.0099 0.017 0.0069 0.0129 0.0099 0.0066 0.0024 0.0025 0.0024 0.0034 0.0029 0.0021 0.0014 0.002 0.0016 0.0025 0.0014 0.002 0.0012 0.001 0.0009 0.0009 0.001 0.0009 0.0009 0.0009 0.0029 0.0174 ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) As with all investments, you may lose money by investing in the Fund. <ul type="square"><li>how the Fund's performance changed from year to year over ten years; and</li></ul><ul type="square"><li>how the Fund's average annual returns for one, five and ten years compare to those of a broad-based securities market index.</li></ul> The annual returns in the bar chart are for the Fund's Class A shares and do not reflect sales loads. The bar chart and performance information provide an indication of the historical risk of an investment in the Fund by showing:<ul type="square"><li>how the Fund's performance changed from year to year over ten years; and</li></ul><ul type="square"><li>how the Fund's average annual returns for one, five and ten years compare to those of a broad-based securities market index.</li></ul>You may obtain updated performance information on the Fund's website at www.AllianceBernstein.com (click on &#8220;Individuals--U.S.&#8221; then &#8220;Products &amp; Performance&#8221;).<br/><br/>The Fund's past performance before and after taxes, of course, does not necessarily indicate how it will perform in the future. 1.1 The Fund's past performance before and after taxes, of course, does not necessarily indicate how it will perform in the future. www.AllianceBernstein.com Calendar Year End (%)<br/><br/>During the period shown in the bar chart, the Fund's:<br/><br/>BEST QUARTER WAS UP 7.86% IN THE 3RD QUARTER, 2009; AND WORST QUARTER WAS DOWN -4.57% IN THE 3RD QUARTER, 2008. The annual returns in the bar chart are for the Fund's Class A shares and do not reflect sales loads. If sales loads were reflected, returns would be less than those shown. Restated to reflect current expenses. January 31, 2014 You would pay the following expenses if you did not redeem your shares at the end of period: Are an estimate, which is based on the highest historical individual federal marginal income tax rates, and do not reflect the impact of state and local taxes; Are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Are shown for Class A shares only and will vary for Class B, Class C and Advisor Class shares because these Classes have different expense ratios; (NOT CURRENTLY OFFERED TO NEW INVESTORS) <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleShareholderFeesAllianceBernsteinIntermediateBondPortfolio column period compact * ~</div> <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAnnualFundOperatingExpensesAllianceBernsteinIntermediateBondPortfolio column period compact * ~</div> <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAnnualTotalReturnsAllianceBernsteinIntermediateBondPortfolioBarChart column period compact * ~</div> <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleAverageAnnualTotalReturnsTransposedAllianceBernsteinIntermediateBondPortfolio column period compact * ~</div> <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleExpenseExampleAllianceBernsteinIntermediateBondPortfolio column period compact * ~</div> <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleExpenseExampleNoRedemptionAllianceBernsteinIntermediateBondPortfolio column period compact * ~</div> -0.0014 0.045 <div style="display:none">~ http://www.AllianceBernstein.com/role/ScheduleExpenseExampleAllianceBernsteinLimitedDurationHighIncomePortfolio column period compact * ~</div> 0.44 PERFORMANCE TABLE<br/>AVERAGE ANNUAL TOTAL RETURNS<br/><br/>For the periods ended December 31, 2012) 2011-12-07 Class B shares automatically convert to Class A shares after six years. The CDSC decreases over time. For Class B shares, the CDSC decreases 1.00% annually to 0% after the third year. For Class C shares, the CDSC is 0% after the first year. DIVERSIFICATION RISK: The Fund may have more risk because it is &#8220;non-diversified&#8221;, meaning that it can invest more of its assets in a smaller number of issuers and that adverse changes in the value of one security could have a more significant effect on the Fund's net asset value, or NAV. Inception date for Class A, Class C and Advisor Class shares: 12/07/11 After-tax returns: Are shown for Class A shares only and will vary for Class C shares because these Classes have different expense ratios; -Are an estimate, which is based on the highest historical individual federal marginal income tax rates, and do not reflect the impact of state and local taxes; actual after-tax returns depend on an individual investor's tax situation and are likely to differ from those shown; and -Are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Assuming redemption at the end of the period, a 1% CDSC would increase the expenses by approximately $100. For Class C shares, the CDSC is 0% after the first year. Purchases of Class A shares in amounts of $1,000,000 or more, or by certain group retirement plans, may be subject to a 1%, 1-year CDSC, which may be subject to waiver in certain circumstances. The Adviser has agreed to waive its management fees and/or to bear expenses of the Fund through December 7, 2014 to the extent necessary to prevent total Fund operating expenses, on an annualized basis, from exceeding 1.05%, 1.75% and 0.75% of average daily net assets, respectively, for Class A, Class C shares and Advisor Class shares (excluding acquired fund fees and expenses other than the advisory fees of any AllianceBernstein Mutual Funds in which the Fund may invest, interest expense, taxes, extraordinary expenses, and brokerage commissions and other transaction costs). Any fees waived and expenses borne by the Adviser may be reimbursed by the Fund until December 7, 2014, provided that no reimbursement payment will be made that would cause the Fund's total annual Fund operating expenses to exceed the percentages in the preceding sentence or cause the total of the payments to exceed the Fund's total initial offering expenses. Class B shares automatically convert to Class A shares after six years. The CDSC decreases over time. For Class B shares, the CDSC decreases 1.00% annually to 0% after the third year. Restated to reflect current expenses. The fee waiver and/or expense reimbursements will remain in effect until January 31, 2014 and will continue thereafter from year-to-year unless the Adviser provides notice of termination 60 days prior to that date. After-tax Returns: -Are shown for Class A shares only and will vary for Class B, Class C and Advisor Class shares because these Classes have different expense ratios; -Are an estimate, which is based on the highest historical individual federal marginal income tax rates, and do not reflect the impact of state and local taxes; actual after-tax returns depend on an individual investor's tax situation and are likely to differ from those shown; and -Are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Inception dates for Class R shares: 11/03/03, and Class K and Class I shares: 3/1/05. Performance information for periods prior to the inception of Class R, Class K and Class I shares is the performance of the Fund's Class A shares adjusted to reflect the higher expense ratio of Class R shares and the lower expense ratio of Class K and Class I shares, respectively. 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