AB Income Fund Releases Monthly Portfolio Update (PR Newswire)

NEW YORK, March 27, 2015 /PRNewswire/ — AB Income Fund, Inc. (NYSE: ACG) (the “Fund”) today released its monthly portfolio update as of February 28, 2015.

AB Income Fund, Inc.

Top 10 Fixed Income Holdings

Portfolio %

1) U.S. Treasury Bonds 6.00%, 2/15/26

21.96%

2) U.S. Treasury Bonds 6.375%, 8/15/27

20.10%

3) U.S. Treasury Notes 3.625%, 2/15/21

17.33%

4) U.S. Treasury Bonds 6.50%, 11/15/26

14.10%

5) U.S. Treasury Notes 2.125%, 8/31/20 – 8/15/21

9.29%

6) U.S. Treasury Notes 3.125%, 5/15/21

5.44%

7) U.S. Treasury Bonds 3.125%, 8/15/44

4.48%

8) Federal National Mortgage Association 5.375%, 6/12/17

3.47%

9) U.S. Treasury Bonds 8.75%, 8/15/20

2.88%

10) Residual Funding Corp. Principal Strip   Zero Coupon, 7/15/20

2.01%

Investment Type

Portfolio %

Global Governments

102.50%

Corporates – Non-Investment Grades

Industrial

Communications – Media

1.59%

Energy

1.49%

Basic

1.27%

Consumer Non-Cyclical

1.25%

Communications – Telecommunications

0.85%

Consumer Cyclical – Retailers

0.82%

Capital Goods

0.55%

Technology

0.43%

Consumer Cyclical – Other

0.31%

Services

0.27%

Transportation – Services

0.24%

Consumer Cyclical – Automotive

0.20%

Other Industrial

0.18%

Consumer Cyclical – Entertainment

0.12%

SUBTOTAL

9.57%

Credit Default Swaps

2.27%

Financial Institutions

Banking

1.51%

Insurance

0.14%

Other Finance

0.12%

Finance

0.10%

SUBTOTAL

1.87%

Utility

Electric

0.73%

SUBTOTAL

0.73%

SUBTOTAL

14.44%

Agencies

Agency Debentures

3.82%

Agency Subordinated

3.47%

SUBTOTAL

7.29%

Corporates – Investment Grades

Industrial

Communications – Telecommunications

0.76%

Basic

0.63%

Energy

0.58%

Capital Goods

0.35%

Transportation – Airlines

0.08%

Communications – Media

0.06%

SUBTOTAL

2.46%

Financial Institutions

Insurance

1.31%

Banking

0.72%

Finance

0.26%

SUBTOTAL

2.29%

Non Corporate Sectors

Agencies – Not Government Guaranteed

0.30%

SUBTOTAL

0.30%

Credit Default Swaps

0.28%

Utility

Electric

0.19%

SUBTOTAL

0.19%

SUBTOTAL

5.52%

Collateralized Mortgage Obligations

GSE Risk Share Floating Rate

2.55%

Non-Agency Fixed Rate

1.58%

Non-Agency Floating Rate

0.64%

Agency Fixed Rate

0.18%

SUBTOTAL

4.95%

Commercial Mortgage-Backed Securities

Non-Agency Fixed Rate CMBS

2.67%

Credit Default Swaps

0.21%

SUBTOTAL

2.88%

Emerging Markets – Corporate Bonds

Industrial

Consumer Non-Cyclical

0.49%

Capital Goods

0.37%

Basic

0.23%

Consumer Cyclical – Retailers

0.22%

Communications – Telecommunications

0.21%

Transportation – Airlines

0.20%

SUBTOTAL

1.72%

SUBTOTAL

1.72%

Bank Loans

Industrial

Consumer Non-Cyclical

0.40%

Consumer Cyclical – Automotive

0.32%

Energy

0.11%

Other Industrial

0.10%

Consumer Cyclical – Other

0.09%

Communications – Media

0.08%

Technology

0.06%

Basic

0.05%

SUBTOTAL

1.21%

SUBTOTAL

1.21%

Quasi-Sovereigns

Quasi-Sovereign Bonds

1.20%

SUBTOTAL

1.20%

Preferred Stocks

Financial Institutions

0.94%

Industrial

0.19%

SUBTOTAL

1.13%

Whole Loan Trusts

Performing Asset

1.13%

SUBTOTAL

1.13%

Local Governments – Municipal Bonds

0.99%

Mortgage Pass-Throughs

Agency ARMs

0.62%

Agency Fixed Rate 30-Year

0.26%

SUBTOTAL

0.88%

Emerging Markets – Sovereigns

0.83%

Common Stocks

0.31%

Governments – Sovereign Agencies

0.21%

Investment Companies

Funds and Investment Trusts

0.14%

SUBTOTAL

0.14%

Currency Instruments

Forward Currency Exchange Contracts

0.01%

SUBTOTAL

0.01%

Interest Rate Swaps – SIFMA

-13.24%

Interest Rate Futures

-42.67%

Reverse Repurchase Agreements

-50.49%

Net Cash Equivalents

Repurchase Agreements

4.23%

Cash

2.23%

Investment Companies

0.40%

Governments – Treasuries

0.23%

Whole Loan Trusts

0.08%

SUBTOTAL

7.17%

Derivative Offsets

Futures Offsets

42.38%

Swaps Offsets

9.51%

SUBTOTAL

51.89%

100.00%

Country Breakdown

Portfolio %

United States

92.33%

Mexico

1.11%

Brazil

1.05%

Canada

0.78%

United Kingdom

0.48%

Luxembourg

0.40%

Indonesia

0.35%

France

0.29%

Peru

0.27%

Germany

0.26%

India

0.25%

Switzerland

0.24%

Spain

0.24%

El Salvador

0.22%

Italy

0.18%

Norway

0.18%

Dominican Republic

0.16%

Bermuda

0.16%

Uruguay

0.15%

Barbados

0.14%

Venezuela

0.12%

Ivory Coast

0.09%

Guatemala

0.08%

Jamaica

0.07%

Belgium

0.07%

Zambia

0.06%

Pakistan

0.06%

Sri Lanka

0.05%

Morocco

0.04%

South Africa

0.04%

Singapore

0.03%

Australia

0.03%

Sweden

0.02%

Total Investments

100.00%

Net Currency Exposure Breakdown

Portfolio %

United States Dollar

102.31%

Mexican Peso

2.05%

Indonesian Rupiah

0.98%

Uruguayan Peso

0.23%

Brazilian Real

0.05%

Great British Pound

0.03%

New Zealand Dollar

0.01%

Euro

-0.49%

Taiwan New Dollar

-0.50%

Singapore Dollar

-0.50%

Canadian Dollar

-2.05%

Australian Dollar

-2.12%

Total Net Assets

100.00%

Credit Rating

Portfolio %

AAA

61.78%

A

1.73%

BBB

8.15%

BB

6.70%

B

7.68%

CCC

3.25%

CC

0.17%

C

0.01%

D

0.38%

Not Rated

3.41%

Short Term Investments

4.95%

N/A

1.79%

100.00%

Bonds By Maturity

Portfolio %

Less than 1 year

-42.51%

1 to 5 years

14.84%

5 to 10 years

57.84%

10 to 20 years

60.37%

20 to 30 years

8.68%

More than 30 years

0.47%

Other

0.31%

Total Net Assets

100.00%

Portfolio Statistics:

Average Coupon:

7.46%

Average Bond Price :

120.68

Percentage of Leverage:

Bank Borrowing:

0.00%

Investment Operations:

36.67%*

Preferred Stock:

0.00%

Tender Option Bonds:

0.00%

Term Asset-Backed Loans Facility (TALF):

0.00%

Total Fund Leverage:

36.67%

Average Maturity:

13.99 Years

Effective Duration:

5.09 Years

Total Net Assets:

$1,889.33 Million

Net Asset Value:

$8.49

Number of Holdings:

376

Portfolio Turnover:

32%

* Investment Operations may include the use of certain portfolio management techniques such as credit default swaps, dollar rolls, negative cash, reverse repurchase agreements and when-issued securities.

The foregoing portfolio characteristics are as of the date indicated and can be expected to change. The Fund is a closed-end U.S.-registered management investment company advised by AllianceBernstein L. P.

SOURCE AB Income Fund, Inc.

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