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AB Logo (3)

 

AB BOND FUNDS (“Bond Funds”)

- AB Income Fund

Class A (Ticker: AKGAX); Class C (Ticker: AKGCX); Advisor Class (Ticker: ACGYX); Class Z (Ticker: ACGZX)

- AB Short Duration Income Portfolio

Class A (Ticker: SHUAX); Class C (Ticker: SHUCX); Advisor Class (Ticker: SHUYX)

- AB Total Return Bond Portfolio

Class A (Ticker: ABQUX); Class C (Ticker: ABQCX); Advisor Class (Ticker: ABQYX); Class R (Ticker: ABQRX); Class K (Ticker: ABQKX); Class I (Ticker: ABQIX); Class Z (Ticker: ABQZX)

- AB Tax-Aware Fixed Income Opportunities Portfolio

Class A (Ticker: ATTAX); Class C (Ticker: ATCCX); Advisor Class (Ticker: ATTYX)

 

SANFORD C. BERNSTEIN FUND, INC. (“SCB Funds”)

- Short Duration Diversified Municipal Portfolio

Short Duration Diversified Municipal Class (Ticker: SDDMX)

- New York Municipal Portfolio

Class A (Ticker: ANIAX); Class C (Ticker: ANMCX); New York Municipal Class (Ticker: SNNYX); Advisor Class (Ticker: ANIYX)

- California Municipal Portfolio

Class A (Ticker: AICAX); Class C (Ticker: ACMCX); California Municipal Class (Ticker: SNCAX); Advisor Class (Ticker: AICYX)

- Diversified Municipal Portfolio

Class A (Ticker: AIDAX); Class C (Ticker: AIMCX); Diversified Municipal Class (Ticker: SNDPX); Advisor Class (Ticker: AIDYX); Class Z (Ticker: AIDZX)

- Intermediate Duration Portfolio

Intermediate Duration Class (Ticker: SNIDX); Advisor Class (Ticker: IDPYX); Class A (Ticker: ADPAX); Class Z (Ticker: IDPZX)

- Short Duration Plus Portfolio

Class A (Ticker: ADPAX); Class C (Ticker: ADPCX); Short Duration Plus Class (Ticker: SNSDX)

 

SANFORD C. BERNSTEIN FUND II, INC. (“SCB II”)

- Bernstein Intermediate Duration Institutional Portfolio

Intermediate Duration Institutional Class (Ticker: SIIDX)

AB INFLATION STRATEGIES (“Inflation Strategies”)

- AB Bond Inflation Strategy

Class A (Ticker: ABNAX); Class C (Ticker: ABNCX); Advisor Class (Ticker: ABNYX); Class R (Ticker: ABNRX); Class K (Ticker: ABNKX); Class I (Ticker: ANBIX); Class Z (Ticker: ABNZX); Class 1 (Ticker: ABNOX); Class 2 (Ticker: ABNTX)

- AB Municipal Bond Inflation Strategy

Class A (Ticker: AUNAX); Class C (Ticker: AUNCX); Advisor Class (Ticker: AUNYX); Class 1 (Ticker: AUNOX); Class 2 (Ticker: AUNTX)

 

AB CORPORATE SHARES (“Corporate Shares”)

- AB Corporate Income Shares

(Ticker: ACISX)

- AB Municipal Income Shares

(Ticker: MISHX)

- AB Taxable Multi-Sector Income Shares

(Ticker: CSHTX)

- AB Tax-Aware Real Return Income Shares

(Ticker: TARRX)

 

AB MUNICIPAL INCOME PORTFOLIOS (“Municipal Portfolios”)

- AB National Portfolio

Class A (Ticker: ALTHX); Class C (Ticker: ALNCX); Advisor Class (Ticker: ALTVX)

- AB High Income Municipal Portfolio

Class A (Ticker: ABTHX); Class C (Ticker: ABTFX); Advisor Class (Ticker: ABTYX); Class Z (Ticker: ABTZX)

- AB Arizona Portfolio

Class A (Ticker: AAZAX); Class C (Ticker: AAZCX); Advisor Class (Ticker: AAZYX)

- AB California Portfolio

Class A (Ticker: ALCAX); Class C (Ticker: ACACX); Advisor Class (Ticker: ALCVX)

- AB Massachusetts Portfolio

Class A (Ticker: AMAAX); Class C (Ticker: AMACX); Advisor Class (Ticker: AMAYX)

- AB Minnesota Portfolio

Class A (Ticker: AMNAX); Class C (Ticker: AMNCX)

 
 

 

 

BERNSTEIN FUND, INC. (“Bernstein Fund”)

- Small Cap Core Portfolio

SCB Class (Ticker: SCRSX); Advisor Class (Ticker: SCRYX)

 

THE AB ACTIVE ETFs (“Active ETFs”)

- AB Ultra Short Income ETF

(Ticker: YEAR)

- AB Tax-Aware Short Duration Municipal ETF

(Ticker: TAFI)

- AB New Jersey Portfolio

Class A (Ticker: ANJAX); Class C (Ticker: ANJCX)

- AB New York Portfolio

Class A (Ticker: ALNYX); Class C (Ticker: ANYCX); Advisor Class (Ticker: ALNVX)

- AB Ohio Portfolio

Class A (Ticker: AOHAX); Class C (Ticker: AOHCX)

- AB Pennsylvania Portfolio

Class A (Ticker: APAAX); Class C (Ticker: APACX)

- AB Virginia Portfolio

Class A (Ticker: AVAAX); Class C (Ticker: AVACX); Advisor Class (Ticker: AVAYX)

 

Each of the funds listed above is hereinafter referred to as a “Fund” or, collectively, the “Funds.”

 

Supplement dated February 7, 2023 to the following Prospectuses and Summary Prospectuses, as amended:

Prospectus Date
Bond Funds January 31, 2023
SCB Funds January 27, 2023
SCB II January 27, 2023
Bernstein Fund January 27, 2023
Inflation Strategies January 31, 2023
Corporate Shares August 31, 2022
Municipal Portfolios September 30, 2022
Active ETFs September 13, 2022

* * * * *

The following replaces the chart under the heading “Portfolio Managers” in the Prospectuses and Summary Prospectuses for the following Funds.

AB Income Fund

PORTFOLIO MANAGERS

The following table lists the persons responsible for day-to-day management of the Fund’s portfolio:

 

Employee Length of Service Title
Scott A. DiMaggio Since 2019 Senior Vice President of the Adviser
Gershon M. Distenfeld Since 2016 Senior Vice President of the Adviser
Fahd Malik Since 2022 Senior Vice President of the Adviser
Matthew S. Sheridan Since 2016 Senior Vice President of the Adviser
William Smith Since February 2023 Senior Vice President of the Adviser

AB Short Duration Income Portfolio

PORTFOLIO MANAGERS

The following table lists the persons responsible for day-to-day management of the Fund’s portfolio:

 

Employee Length of Service Title
Scott A. DiMaggio Since 2018 Senior Vice President of the Adviser
Gershon M. Distenfeld Since 2018 Senior Vice President of the Adviser
Fahd Malik Since 2022 Senior Vice President of the Adviser
Matthew S. Sheridan Since 2018 Senior Vice President of the Adviser
William Smith Since February 2023 Senior Vice President of the Adviser

 

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AB Total Return Bond Portfolio

PORTFOLIO MANAGERS

The following table lists the persons responsible for day-to-day management of the Fund’s portfolio:

 

Employee Length of Service Title
Michael Canter Since 2016 Senior Vice President of the Adviser
Matthew S. Sheridan Since February 2023 Senior Vice President of the Adviser

AB Tax-Aware Fixed Income Opportunities Portfolio

PORTFOLIO MANAGERS

The following table lists the persons responsible for day-to-day management of the Fund’s portfolio:

 

Employee Length of Service Title
Daryl Clements Since September 2022 Senior Vice President of the Adviser
Matthew J. Norton Since 2017 Senior Vice President of the Adviser
Andrew D. Potter Since 2018 Vice President of the Adviser

AB Bond Inflation Strategy

PORTFOLIO MANAGERS

The following table lists the persons responsible for day-to-day management of the Fund’s portfolio:

 

Employee Length of Service Title
Michael Canter Since 2016 Senior Vice President of the Adviser
Michael Rosborough Since February 2023 Senior Vice President of the Adviser

Intermediate Duration Portfolio

PORTFOLIO MANAGERS

The following table lists the persons responsible for day-to-day management of the Portfolio:

 

Employee Length of Service Title
Michael Canter Since 2016 Senior Vice President of the Manager
Matthew S. Sheridan Since February 2023 Senior Vice President of the Manager

Short Duration Plus Portfolio

PORTFOLIO MANAGERS

The following table lists the persons responsible for day-to-day management of the Portfolio:

 

Employee Length of Service Title
Michael Canter Since 2016 Senior Vice President of the Manager
Matthew S. Sheridan Since February 2023 Senior Vice President of the Manager

Bernstein Intermediate Duration Institutional Portfolio

PORTFOLIO MANAGERS

The following table lists the persons responsible for day-to-day management of the Portfolio:

 

Employee Length of Service Title
Michael Canter Since 2016 Senior Vice President of the Manager
Matthew S. Sheridan Since February 2023 Senior Vice President of the Manager

Small Cap Core Portfolio

PORTFOLIO MANAGERS

The following table lists the persons responsible for day-to-day management of the Portfolio:

 

Employee Length of Service Title
Samantha Lau Since 2015 Senior Vice President of the Manager
Erik A. Turenchalk Since 2020 Senior Vice President of the Manager

 

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AB Corporate Income Shares

PORTFOLIO MANAGERS

The following table lists the persons responsible for day-to-day management of the Fund’s portfolio:

 

Employee Length of Service Title
Timothy Kurpis Since February 2023 Senior Vice President of the Adviser
Tiffanie Wong Since 2019 Senior Vice President of the Adviser

AB Municipal Income Shares

PORTFOLIO MANAGERS

The following table lists the persons responsible for day-to-day management of the Fund’s portfolio:

 

Employee Length of Service Title
Daryl Clements Since September 2022 Senior Vice President of the Adviser
Matthew J. Norton Since 2016 Senior Vice President of the Adviser
Andrew D. Potter Since 2020 Vice President of the Adviser

AB Taxable Multi-Sector Income Shares

PORTFOLIO MANAGERS

The following table lists the persons responsible for day-to-day management of the Fund’s portfolio:

 

Employee Length of Service Title
Scott A. DiMaggio Since 2010 Senior Vice President of the Adviser
Matthew S. Sheridan Since February 2023 Senior Vice President of the Adviser

AB Tax-Aware Real Return Income Shares

PORTFOLIO MANAGERS

The following table lists the persons responsible for day-to-day management of the Fund’s portfolio:

 

Employee Length of Service Title
Daryl Clements Since September 2022 Senior Vice President of the Adviser
Matthew J. Norton Since 2019 Senior Vice President of the Adviser
Andrew D. Potter Since 2019 Vice President of the Adviser

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 and AB Virginia Portfolio

PORTFOLIO MANAGERS

The following table lists the persons responsible for day-to-day management of the Portfolio’s portfolio:

 

Employee Length of Service Title
Daryl Clements Since September 2022 Senior Vice President of the Adviser
Matthew J. Norton Since 2016 Senior Vice President of the Adviser
Andrew D. Potter Since 2018 Vice President of the Adviser

Short Duration Diversified Municipal Portfolio, New York Municipal Portfolio, California Municipal Portfolio and Diversified Municipal Portfolio

PORTFOLIO MANAGERS

The following table lists the persons responsible for day-to-day management of the Portfolio:

 

Employee Length of Service Title
Daryl Clements Since September 2022 Senior Vice President of the Manager
Matthew J. Norton Since 2016 Senior Vice President of the Manager
Andrew D. Potter Since 2018 Vice President of the Manager

 

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AB Municipal Bond Inflation Strategy

PORTFOLIO MANAGERS

The following table lists the persons responsible for day-to-day management of the Portfolio’s portfolio:

 

Employee Length of Service Title
Daryl Clements Since September 2022 Senior Vice President of the Adviser
Matthew J. Norton Since 2016 Senior Vice President of the Adviser
Andrew D. Potter Since 2017 Vice President of the Adviser

AB Ultra Short Income ETF

PORTFOLIO MANAGERS

The following table lists the persons responsible for day-to-day management of the Fund’s portfolio:

 

Employee Length of Service Title
Lucas Krupa Since September 2022 Senior Vice President of the Adviser
Matthew S. Sheridan Since September 2022 Senior Vice President of the Adviser

AB Tax Aware Short Duration Municipal ETF

PORTFOLIO MANAGERS

The following table lists the persons responsible for day-to-day management of the Fund’s portfolio:

 

Employee Length of Service Title
Daryl Clements Since February 2023 Senior Vice President of the Adviser
Matthew J. Norton Since September 2022 Senior Vice President of the Adviser
Andrew D. Potter Since September 2022 Vice President of the Adviser

 

* * * * *

The following replaces certain information under the heading “Management of the [Fund/Portfolios] – Portfolio Managers” in the Prospectuses for the following Funds.

AB Income Fund

Fund and Responsible Team Employee; Year; Title Principal Occupation(s)
During the Past Five (5) Years

AB Income Fund

U.S. Investment Grade: Core Fixed Income Investment Team

Scott A. DiMaggio; since 2019; (see above) (see above)
  Gershon M. Distenfeld; since 2016; (see above) (see above)
  Fahd Malik; since 2022; (see above) (see above)
  Matthew S. Sheridan; since 2016; (see above) (see above)
  William Smith; since February 2023; (see above) (see above)

AB Short Duration Income Portfolio

Fund and Responsible Team Employee; Year; Title Principal Occupation(s)
During the Past Five (5) Years

AB Short Duration Income Portfolio

Short Duration Income Investment Team

Scott A. DiMaggio; since 2018; (see above) (see above)
  Gershon M. Distenfeld; since 2018; (see above) (see above)
  Fahd Malik; since 2022; (see above) (see above)
  Matthew S. Sheridan; since 2018; (see above) (see above)
  William Smith; since February 2023; (see above) (see above)

 

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AB Total Return Bond Portfolio

Fund and Responsible Team Employee; Year; Title Principal Occupation(s)
During the Past Five (5) Years

AB Total Return Bond Portfolio

U.S. Investment Grade Core Fixed Income Team

Michael Canter; since 2016; Senior Vice President of the Adviser, and Director and Chief Investment Officer of Securitized Assets Senior Vice President of the Adviser, with which he has been associated in a substantially similar capacity to his current position since prior to 2018.
     
  Matthew S. Sheridan; since February 2023; Senior Vice President of the Adviser Senior Vice President of the Adviser, with which he has been associated in a substantially similar capacity to his current position since prior to 2018.
     

AB Tax-Aware Fixed Income Opportunities Portfolio

Fund and Responsible Team Employee; Year; Title Principal Occupation(s)
During the Past Five (5) Years

AB Tax-Aware Fixed Income Opportunities Portfolio

Tax-Aware Investment Team

Daryl Clements; since September 2022; Senior Vice President of the Adviser Senior Vice President of the Adviser, with which he has been associated since prior to 2018.
     
  Matthew J. Norton; since 2017; Senior Vice President of the Adviser, and Chief Investment Officer—Municipal Bonds Senior Vice President of the Adviser, with which he has been associated in a substantially similar capacity since prior to 2018.
     
  Andrew D. Potter; since 2018; Vice President of the Adviser Vice President of the Adviser, with which he has been associated in a substantially similar capacity to his current position as a portfolio manager since prior to 2018.

AB Bond Inflation Strategy

Employee; Length of Service; Title Principal Occupation(s) During
the Past Five (5) Years
Michael Canter; since 2016; Senior Vice President of the Adviser Senior Vice President of the Adviser, with which he has been associated in a substantially similar capacity since prior to 2018. He is also the Director and Chief Investment Officer—Securitized Assets.
   
Michael Rosborough; since February 2023; Senior Vice President of the Adviser Senior Vice President of the Adviser, with which he has been associated in a substantially similar capacity since 2020. Prior to 2020, he was an investment director, portfolio manager and member of the tactical asset allocation committee at California Public Employees' Retirement System (CalPERS) since prior to 2018.

Intermediate Duration Portfolio

Employee; Length of Service; Title Principal Occupation(s) During
the Past Five (5) Years
Michael Canter; since 2016; Senior Vice President of the Manager (See above)
   
Matthew S. Sheridan; since February 2023; Senior Vice President of the Manager (See above)

Short Duration Plus Portfolio

Employee; Length of Service; Title Principal Occupation(s) During
the Past Five (5) Years
Michael Canter; since 2016; Senior Vice President of the Manager Senior Vice President of the Manager, with which he has been associated in a substantially similar capacity to his current position since prior to 2018, and Director and Chief Investment Officer—Securitized Assets.
   
Matthew S. Sheridan; since February 2023; Senior Vice President of the Manager Senior Vice President of the Manager, with which he has been associated in a substantially similar capacity to his current position since prior to 2018.

Bernstein Intermediate Duration Institutional Portfolio

Employee; Length of Service; Title Principal Occupation(s) During
the Past Five (5) Years
Michael Canter; since 2016; Senior Vice President of the Manager Senior Vice President of the Manager, with which he has been associated since prior to 2018. He is also Director and Chief Investment Officer—Securitized Assets.
   
Matthew S. Sheridan; since February 2023; Senior Vice President of the Manager Senior Vice President of the Manager, with which he has been associated  since prior to 2018.

 

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Small Cap Core Portfolio

Employee; Length of Service; Title Principal Occupation(s) During
the Past Five (5) Years
Samantha Lau; since 2015; Senior Vice President of the Manager Senior Vice President of the Manager, with which she has been associated in a similar capacity since prior to 2018.
   
Erik A. Turenchalk; since 2020; Senior Vice President of the Manager Senior Vice President of the Manager, with which he has been associated in a similar capacity since prior to 2018.

AB Corporate Income Shares

Employee; Length of Service; Title Principal Occupation(s) During
the Past Five (5) Years
Timothy Kurpis; since February 2023; Senior Vice President of the Adviser Senior Vice President of the Adviser, with which he has been associated in a substantially similar capacity and as a trader since prior to 2017.
   
Tiffanie Wong; since 2019; Senior Vice President of the Adviser Senior Vice President of the Adviser, with which she has been associated in a substantially similar capacity since prior to 2017.

AB Municipal Income Shares

Employee; Length of Service; Title Principal Occupation(s) During
the Past Five (5) Years
Daryl Clements; since September 2022; Senior Vice President of the Adviser Senior Vice President of the Adviser, with which he has been associated since prior to 2017.
   
Matthew J. Norton; since 2016; Senior Vice President of the Adviser Senior Vice President of the Adviser, with which he has been associated in a substantially similar capacity since prior to 2017.  He is also Chief Investment Officer—Municipal Bonds.
   
Andrew D. Potter; since 2020; Vice President of the Adviser Vice President of the Adviser, with which he has been associated in a substantially similar capacity since prior to 2017.
   
Matthew S. Sheridan; since February 2023; Senior Vice President of the Adviser Senior Vice President of the Adviser, with which he has been associated in a substantially similar capacity since prior to 2017.

AB Taxable Multi-Sector Income Shares

Employee; Length of Service; Title Principal Occupation(s) During
the Past Five (5) Years
Scott A. DiMaggio; since 2010; Senior Vice President of the Adviser Senior Vice President of the Adviser, with which he has been associated in a substantially similar capacity since prior to 2017.
   
Matthew S. Sheridan; since February 2023; Senior Vice President of the Adviser Senior Vice President of the Adviser, with which he has been associated in a substantially similar capacity since prior to 2017.

AB Tax-Aware Real Return Income Shares

Employee; Length of Service; Title Principal Occupation(s) During
the Past Five (5) Years
Daryl Clements; since September 2022; Senior Vice President of the Adviser Senior Vice President of the Adviser, with which he has been associated since prior to 2017.
   
Matthew J. Norton; since 2019; Senior Vice President of the Adviser Senior Vice President of the Adviser, with which he has been associated in a substantially similar capacity since prior to 2017.  He is also Chief Investment Officer—Municipal Bonds.
   
Andrew D. Potter; since 2019; Vice President of the Adviser Vice President of the Adviser, with which he has been associated in a substantially similar capacity since prior to 2017.

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 and AB Virginia Portfolio

Employee; Length of Service; Title Principal Occupation(s) During
the Past Five (5) Years
Daryl Clements; since September 2022; Senior Vice President Senior Vice President of the Adviser, with which he has been associated since prior to 2017.
   
Matthew J. Norton; since 2016; Senior Vice President Senior Vice President of the Adviser, with which he has been associated in a substantially similar capacity since prior to 2017.
   
Andrew D. Potter; since 2018; Vice President Vice President of the Adviser, with which he has been associated in a substantially similar capacity since prior to 2017.

 

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AB Municipal Bond Inflation Strategy

Employee; Length of Service; Title Principal Occupation(s) During
the Past Five (5) Years
Daryl Clements; since September 2022; Senior Vice President of the Adviser Senior Vice President of the Adviser, with which he has been associated in a substantially similar capacity since prior to 2018.
   
Matthew J. Norton; since 2016; Senior Vice President of the Adviser Senior Vice President of the Adviser, with which he has been associated in a substantially similar capacity since prior to 2018. He is also Chief Investment Officer—Municipal Bonds.
   
Andrew D. Potter; since 2017; Vice President of the Adviser Vice President of the Adviser, with which he has been associated in a substantially similar capacity since prior to 2018.

Short Duration Diversified Municipal Portfolio, New York Municipal Portfolio, California Municipal Portfolio and Diversified Municipal Portfolio

Employee; Length of Service; Title Principal Occupation(s) During
the Past Five (5) Years
Daryl Clements; since September 2022; Senior Vice President of the Manager Senior Vice President of the Manager, with which he has been associated since prior to 2018.
   
Matthew J. Norton; since 2016; Senior Vice President of the Manager Senior Vice President of the Manager, with which he has been associated in a substantially similar capacity since prior to 2018. He is also Chief Investment Officer - Municipal Bonds.
   
Andrew D. Potter; since 2018; Vice President of the Manager Vice President of the Manager, with which he has been associated since prior to 2018.

AB Ultra Short Income ETF

Fund and Responsible Team Employee; Year; Title Principal Occupation(s)
During the Past Five (5) Years

AB Ultra Short Income ETF

Ultra Short Income Investment Team

Lucas Krupa; since September 2022; Senior Vice President of the Adviser Senior Vice President of the Adviser and Money Markets Associate on the Fixed Income Cash Management Team, with which he has been associated in a substantially similar capacity to his current position since prior to 2017.
     
  Matthew S. Sheridan; since September 2022; Senior Vice President of the Adviser Senior Vice President of the Adviser, with which he has been associated in a substantially similar capacity to his current position since prior to 2017.

AB Tax-Aware Short Duration Municipal ETF

Fund and Responsible Team Employee; Year; Title Principal Occupation(s)
During the Past Five (5) Years

AB Tax-Aware Short Duration Municipal ETF

Tax-Aware Investment Team

Daryl Clements; since February 2023; Senior Vice President of the Adviser Senior Vice President of the Adviser, with which he has been associated in a substantially similar capacity to his current position since prior to 2017.
     
  Matthew J. Norton; since September 2022; Senior Vice President of the Adviser, and Chief Investment Officer—Municipal Bonds Senior Vice President of the Adviser, with which he has been associated in a substantially similar capacity to his current position since prior to 2017.
     
  Andrew D. Potter; since September 2022; Vice President of the Adviser Vice President of the Adviser, with which he has been associated in a substantially similar capacity to his current position since prior to 2017.

 

Each Statement of Additional Information is revised, as applicable, to incorporate changes conforming to this Supplement.

* * * * *

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.

__________________

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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