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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