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AB BOND FUNDS (“Bond Funds”) - AB Global Bond Fund - AB High Income Fund - AB Income Fund - AB Limited Duration High Income Portfolio - AB Short Duration Income Portfolio - AB Tax-Aware Fixed Income Opportunities Portfolio - AB Total Return Bond Portfolio - AB High Yield Portfolio - AB Sustainable Thematic Credit Portfolio AB EMERGING MARKETS MULTI-ASSET PORTFOLIO (“EMMA”) AB EQUITY FUNDS (“Equity Funds”) - AB Growth Fund - AB Large Cap Growth Fund - AB Concentrated Growth Fund - AB Concentrated International Growth Portfolio - AB Discovery Growth Fund - AB Small Cap Growth Portfolio - AB Global Core Equity Portfolio - AB Sustainable Global Thematic Fund - AB Sustainable International Thematic Fund - AB International Strategic Core Portfolio - AB Select US Equity Portfolio - AB Select US Long/Short Portfolio AB GOVERNMENT MONEY MARKET PORTFOLIO (“Government Money Market”) AB INFLATION STRATEGIES (“Inflation Strategies”) - AB Bond Inflation Strategy - AB Municipal Bond Inflation Strategy - AB All Market Real Return Portfolio SANFORD C. BERNSTEIN FUND, INC. (“Bernstein Funds”) - AB Intermediate California Municipal Portfolio - AB Intermediate Diversified Municipal Portfolio - AB Intermediate Duration Portfolio - AB Intermediate New York Municipal Portfolio - AB Short Duration Portfolio
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AB MUNICIPAL INCOME PORTFOLIOS - AB National Portfolio - AB High Income Municipal Portfolio - AB Arizona Portfolio - AB California Portfolio - AB Massachusetts Portfolio - AB Minnesota Portfolio - AB New Jersey Portfolio - AB New York Portfolio - AB Ohio Portfolio - AB Pennsylvania Portfolio - AB Virginia Portfolio AB WEALTH STRATEGIES (“Wealth Strategies”) - AB Wealth Appreciation Strategy - AB All Market Total Return Portfolio - AB Conservative Wealth Strategy - AB Tax-Managed Wealth Appreciation Strategy - AB Tax-Managed All Market Income Portfolio AB VALUE FUNDS (“Value Funds”) - AB All Market Income Portfolio - AB Core Opportunities Fund - AB Discovery Value Fund - AB Equity Income Fund - AB Global Real Estate Investment Fund - AB Global Risk Allocation Fund - AB Relative Value Fund - AB International Value Fund - AB Small Cap Value Portfolio - AB Value Fund - AB All China Equity Portfolio |
Each of the funds listed above is hereinafter referred to as a “Fund” or, collectively, the “Funds”.
Supplement dated October 27, 2021 to the following Prospectuses, as amended:
| Prospectus | Date |
| Bernstein Funds | January 28, 2021 |
| Bond Funds | January 29, 2021 (April 30, 2021 for AB High Yield Portfolio and May 3, 2021 for AB Sustainable Thematic Credit Portfolio) |
| EMMA | July 30, 2021 |
| Equity Funds | October 30, 2020 |
| Government Money Market | August 31, 2021 |
| Inflation Strategies | January 29, 2021 |
| Municipal Portfolios | September 30, 2021 |
| Value Funds | February 26, 2021 |
| Wealth Strategies | December 31, 2020 |
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For each Fund, the following replaces the seventh and eighth bullet points in “Appendix [B/C]—Financial Intermediary Waivers – Waivers Specific to Merrill Lynch – Front-end Sales Load Waivers on Class A Shares available at Merrill Lynch” of the Prospectus:
| · | Shares purchased through reinvestment of capital gains distributions and dividend reinvestment when purchasing shares of the same fund (but not any other fund within the fund family) |
| · | Shares exchanged from Class C (i.e. level-load) shares of the same fund pursuant to Merrill Lynch’s policies relating to sales load discounts and waivers |
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This Supplement should be read in conjunction with the Prospectuses for the Funds.
You should retain this Supplement with your Prospectus(es) for future reference.
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The [A/B] Logo is a service mark of AllianceBernstein
and AllianceBernstein® is a registered trademark used by permission of the owner, AllianceBernstein L.P.
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