Author Archives: South Africa Voice

Harper Government Invests in Thornbury Harbour

Minister Leitch announces improvements at recreational harbour in the Town of The Blue Mountains

March 27, 2015 – Thornbury, Ontario

The Honourable Dr. Kellie Leitch, Minister of Labour and Minister for the Status of Women and Member of Parliament for Simcoe-Grey, on behalf of the Honourable Gail Shea, Minister of Fisheries and Oceans, announced today that the Government of Canada will invest in improvements at Thornbury Harbour that will benefit local users. 

The project will consist of the replacement of floating wharves and finger piers. These improvements will ensure recreational boaters who use the facility continue to have a place to safely dock. The work, which will begin shortly, will be funded in partnership with the Town of The Blue Mountains.

Since 2006, the Government of Canada has provided an unprecedented level of funding to support investments in public infrastructure across the country. Last fall, Prime Minister Harper announced an additional investment of $5.8 billion over the next two years to build and renew infrastructure across the country to support Canadian heritage, First Nations education, defence, borders, research, small craft harbours, transportation and search and rescue. As part of this funding, Fisheries and Oceans Canada and the Canadian Coast Guard will receive a total of approximately $551 million.

Quick Facts

  • Thornbury Harbour is a recreational facility on the south shore of Lake Huron that can accommodate up to 250 vessels.
  • The Harper Government will invest in approximately 10 major harbour improvement projects in Ontario over the next two years.
  • The Government of Canada supports more than 1000 small craft harbours across Canada. Harbour improvement projects are undertaken in cooperation with the local harbour authorities that manage and operate facilities for local users.
  • Small craft harbours support the commercial fishing industry. Nearly 90 percent of all commercial fish harvesters in Canada use small craft harbour facilities, and their annual production represents approximately $1.6 billion.

Quotes

“Since 2006, our Government has continuously made major investments that create opportunities for Canadians and encourage the prosperity of Ontario. We are proud to continue to bolster the local Blue Mountains economy by supporting the Thornbury Harbour. As always, we will continue to ensure safe and efficient conditions for all harbor users.”

The Honourable Dr. Kellie Leitch, Minister of Labour and Status of Women, and Member of Parliament for Simcoe-Grey

“The Blue Mountains has worked with The Department of Fisheries and Oceans on enhancement projects throughout the Thornbury Harbour. We appreciate their involvement in helping us maintain the harbour infrastructure allowing us to remain one of the top Georgian Bay boating destinations.” 

John McKean, Mayor, Town of The Blue Mountains

Associated Link

– 30 –

Contacts:

Frank Stanek
Media Relations
Fisheries and Oceans Canada
Ottawa
613-990-7537

Sophie Doucet
Director of Communications
Office of the Minister
Fisheries and Oceans Canada
613-992-3474

NR-HQ-15-21E

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Minister Shea and MP Keddy to Announce Investments in Small Craft Harbours in Shelburne County

March 27, 2015

NEWELLTON, NS – The Honourable Gail Shea, Minister of Fisheries and Oceans, joined by Gerald Keddy, MP for South Shore – St. Margaret’s, will announce investments by the Government of Canada into small craft harbour infrastructure in Newellton and other local harbours.

Photo opportunities will be available for media in attendance.

Date: Saturday, March 28, 2015

Time: 11:00 a.m. (local time)

Location: Card Shack near Newellton wharf
Newellton Orion Wharf Road
Newellton, Nova Scotia

– 30 –

For Information:

Media Relations
Fisheries and Oceans Canada
Maritimes Region
902-407-8439

MA-MAR-15-02E

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Yemen at War: Lifesaving aid blocked by airstrikes

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Millions in Yemen, the Arab world’s poorest country, rely on aid organisations

BEIRUT, 27 March 2015 (IRIN) – The Saudi Arabian-led assault on Yemen has disrupted life-saving aid programs across the country, international aid agencies have said.

The provision of humanitarian aid to many Yemeni regions was already difficult as the country has slid closer to civil war following the takeover of the capital Sana’a in September by northern Houthi rebels. But on Thursday morning, a Saudi-led alliance of eight countries began bombing key Houthi targets in Sana’a and other cities.

Since then the United Nations and other aid agencies have been forced to suspend many key programs. International NGOs and the UN are seeking to evacuate their international staff, with several hundred still in the country. All commercial flights out of the country have been suspended since the Saudi attacks began.

Trond Jensen, head of the UN Office for Coordination of Humanitarian Affairs in Yemen, said he was “extremely concerned” that vital aid was being suspended across the country. “In a conflict our ability to stay and deliver is badly affected,” he said.

Yemen, which has a population of just under 26 million, is the Arab world’s poorest country. Almost two-thirds of the population was already in need of aid before the crisis, while over 10 million are food insecure.

The Houthi takeover had already led to the suspension of key financial support to the country, while millions of dollars of development aid was suspended

Jensen said that the country’s dire economic situation was likely to be made worse by the suspension of key humanitarian aid. “Vulnerable people will be pushed over the edge,” Jensen added, agreeing that the country was in a perfect storm of crises.

He said, however, that the UN would seek to continue to deliver some humanitarian aid remotely. 

 

“We already had a network of local partners that UN agencies are operating through. We will continue to work through [them].”

Haajir Maalim, country director at Action Against Hunger, said they had suspended all operations in the northern regions of Hajjah and Al-Hudaydah and Abyan and Lahj in the south over security concerns. He added that they were seeking to maintain some services to ensure thousands of vulnerable people were not cut off from support.

“I think it is very worrying especially if the conflict carries on for a long time,” he said. “Yemenis are very resilient and life continues in Sana’a and other cities… but this can only continue for a short time.” 

“If the conflict continues the local capacity to withstand is limited.”

He added that they, too, were seeking to evacuate their international staff, while those that remain in country would be more restricted in their movement.

“One of the key risks we face is when we are moving,” he said, adding that both airstrikes and checkpoints pose a risk. “Movement to the beneficiaries will be limited.”


Maalim said he was wary that aid workers could also become targets for criminal gangs as the conflict continues.

“So far we have not seen [aid workers being] targeted, but as populations become desperate we do understand that aid agencies are seen as having resources.”

As fighting intensifies, there is little indication that any side is focusing on the humanitarian suffering in the country.  

The leader of the Iranian-backed Houthis has resorted to increasingly fiery rhetoric in the face of the attack, while the internationally recognised President Abdu Rabu Mansour Hadi called for the Saudi strikes, which have led to the killing of civilians.

A report released on Friday by the International Crisis Group think-tank warned that all sides were currently unwilling to search for a negotiated settlement and on Friday night, eyewitnesses in Sana’a said there were fresh airstrikes in the city.

“We are concerned that whatever resources are left in the country shall we diverted to conflict,” Jensen added.

jd/tl

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Nigeria's election – “anything fit happen”

Nigerian troops on the streets of Abuja in a show of force on Thursday

ABUJA, 27 March 2015 (IRIN) – Nigeria is increasingly tense in the countdown to presidential elections on Saturday. President Goodluck Jonathan is facing an exceptionally strong challenge from former military ruler, General Muhammadu Buhari. Never has a presidential race been so close, and with that the risk of major political violence.
 
In a statement on Thursday, the National Human Rights Commission (NHRC) said, “the footprint of pre-election violence has spread” and election-related trouble “in some form has been reported in nearly all the states of Nigeria”. Violence of this intensity occurring before an election is atypical of Nigerian’s recent poll history, it noted.
 
Post-election violence – and impunity – is customary. In 2011, when Buhari  was trounced by Jonathan, 800 people were killed in rioting in the north of the country. This election, billed as one of the county’s most important, with Jonathan promising continuity and Buhari demanding change, is more highly charged. “There is a lot at stake, a lot of people have dug deep into their positions of support and distrust,” said Clement Nwankwo, director of the human rights NGO, Policy and Legal Advocacy Centre.
 
According to Mausi Segun of Human Rights Watch, “violence is inevitable. Making it less widespread, less brutal, is what everybody is working on.”
 
IRIN looks at some of the challenges surrounding the credibility of this election, and the impact that could have on the country’s stability if it provokes widespread unrest.
 
Technology failure
 

“Violence is inevitable. Making it less widespread, less brutal, is what everybody is working on”

To tackle the rigging of the past, the Independent National Electoral Commission (INEC) has introduced two key technologies – the Permanent Voters Card (PVC) and the card reader. They verify each voter is at the correct polling unit where they registered, and their bio-data match what is stored electronically on their card. The card readers also generate a record of all voters who have been accredited at the polling unit before voting takes place.
 
However, in a test run in 12 states conducted in early March, the card readers only managed a 59 percent success rate in identifying the finger prints on the PVCs, intensifying the clamour for the PVCs and card readers to be dropped – especially by the president’s People’s Democratic party (PDP). 
 
In the case of technology failure, the electoral officers at the polling units are allowed to verify the photograph and details on the PVC, and can allow a person to vote. But the pressure on polling officers will be enormous in an election where turnout is expected to be at a record high, and in that chaos, the system may well crash.  
 
“If the election administrator is confronted with a mob – what happens? We will get ‘community voting’”, where politicians mobilize community leaders to deliver a bloc vote, NHRC chairman Chidi Anselm Odinkalu, told IRIN.
 
Hijacking of the vote
 
Running in parallel to INEC’s vote tabulation is an independent, civil society-led vote verification system set up by the Transition Monitoring Group (TMG) known as Quick Count. Its observers will provide real-time results from each polling unit to guard against ballot box stuffing or dishonest recording of the vote tally. However, problems could still occur further up the chain at INEC’s vote collation centres.
 
Lazarus Apir, programme manager with TMG, worries that the vote could be subverted and “manipulated” at the collation centres, or results sheets “intercepted and tampered with before reaching the centres”. If announcements are made “on the basis of false tallies”, then regardless of the Quick Count results, chaos could ensue said Nwankwo. And if the election is so badly run that it proves inconclusive and INEC is unable to announce a result, “then we’re in uncharted territory,” he added.
 
If that happens, Segun of Human Rights Watch hopes that political opponents will turn to the courts rather than violence. However, in Rivers and Kaduna  – two of the highest-risk states – all courts are currently closed. 
 
Both men claim victory
 
On Thursday, Jonathan and Buhari of the All-Progressives Congress (APC) met and renewed a peace accord first signed in February, pledging to “respect the outcome of free, fair and credible elections”. 
 
But, according to Segun, the real concern is whether either man has the ability to control their supporters, including senor party members. In the latest example of hate speech, Rivers State Deputy Governor, Tele Ikuru, on Monday called on “every Rivers man” to fight “this evil among us” – in reference to the APC – and “if it demands your blood, so be it”.
 
“The body language [in this election] is all-out war,” said Segun. “The belief that the candidates can rally their supporters and prevent this … my sense is that they don’t have the control or the influence. A lot of the reactions will be spontaneous.”
 

“Military involvement in the electoral process is a cause for concern”

Among the likely targets of that violence will be minorities and migrants in each state – more specifically Hausa-Fulani, the same ethnic group as Buhari, in the south, and southern Christians – associated with Jonathan – in the north. Already, vulnerable minorities are seeking shelter around police and army bases. 
 
But the security forces “don’t have the assets to protect everyone. If they don’t target properly they won’t be able to institute acceptable levels of protection”, said Odinkalu.
 
The military
 
The Nigerian military has been deployed to provide security for the elections, despite a high court ruling that this is unconstitutional and the police are the proper body to impose law and order. Chief of Army Staff, Lieutenant General Kenneth Minimah, warned on Wednesday that any politicians planning violence during elections would be met by “organized violence”.
 
But the APC believes the senior commanders support Jonathan, on the grounds that Buhari – renowned for his anti-corruption credentials – will force reforms. In a state governorship election in Ekiti last year, the military were accused of political interference. Jonathan has twice had to deny that there is a plot, should he lose, for the military to impose an interim government with him at the helm.
 
“Military involvement in the electoral process is a cause for concern,” said Nwankwo. Although the military will not be deployed at the polling centres, civil society’s fear is that they will be on the streets and could intimidate. “[They could, for example] prevent you from getting to the polling station,” noted Apir.
 
Boko Haram
 
According Segun, a potential fall out from a chaotic election would be a lack of attention to the Boko Haram insurgency in the northeast – both in terms of the gains the militants could make, and vigilance over human rights abuses by all sides in the conflict. “We shouldn’t drop the ball on that one, in terms of civilian protection,” she said.
 
With the involvement of neigbouring militaries in the fight against Boko Haram, “we must strategise now on how to protect civilians – those caught in the crossfire or in retaliatory attacks by Boko Haram.”

“Nigeria factor”
 
In any conversation on Nigeria, the expression “Nigeria factor” usually crops up. It means that if anything can go wrong it will, but people in the end, by dint of luck and perseverance, somehow muddle through. Tunji Lardner, director of the West African NGO network WANGONET, describes it as a “logic defying” sense of Nigerian exceptionalism. What it also means is that in the context of Nigeria and this election, “anything fit [can] happen.”

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At Security Council, Ban urges action to end violence against religious, ethnic minorities in Middle East

27 March 2015 – Millions of lives in the Middle East – and the very social fabric of entire countries – are at stake, Secretary-General Ban Ki-moon warned this morning, calling for urgent action from the Security Council to end the religiously and ethnically-motivated violence sweeping the region and end impunity for those committing crimes against humanity.

“I am deeply concerned about the grave dangers faced by minorities in parts of the Middle East. Currently, thousands of civilians are at the mercy of the Islamic State of Iraq and the Levant, (ISIL), also called Daesh,” Mr. Ban said at a high-level debate on victims of attacks and abuses on ethnic or religious grounds in the region, chaired by French Foreign Minister Laurent Fabius.

“Its fighters kill systematically members of ethnic and religious minorities, those who do not share their misinterpretation of Islam and anyone who opposes their apocalyptic conception. They prey on women and children with unspeakable brutality. They destroy religious and cultural symbols that are the heritage of humanity,” Mr. Ban stressed.

The acts have spread to Syria, Iraq and now Libya and even in Yemen, where the bomb attacks perpetrated against mosques last week have further fueled sectarian violence. Condemning all acts of persecution, regardless of the reason – religious, ethnic, national, racial or other, the UN chief urged all parties to spare innocent lives.

Meanwhile, abuses in counter-terrorism are morally wrong and strategically counterproductive, Mr. Ban said, adding that combating terrorism never absolves governments of their responsibility to honour human rights.

In Iraq, the Office of the UN High Commissioner for Human Rights (OHCHR) cited information strongly suggesting that Daesh may have perpetrated genocide, crimes against humanity and war crimes against different minorities, and especially women and girls.

“My Special Advisers on the Prevention of Genocide and on the Responsibility to Protect warned last August that acts committed by Daesh pointed to the risk of genocide. Now we also see sectarian violence against local populations in areas liberated from its control,” the UN chief told the Council.

However, it is important to note that violent extremism in the region, for instance in Iraq, preceded Daesh’s advance, Mr. Ban pointed out, welcoming steps by the Iraqi Government to further national reconciliation, strengthen social cohesion, and reform the security sector. To that end, the Government must do more to uphold human rights and restore the rule of law in areas liberated from Daesh and the international community must help Iraq in this effort.

Five years into the Syrian conflict, the lack of accountability has led to an “exponential rise” in war crimes, crimes against humanity and other human rights violations. Both Government forces and non-State armed groups in Syria, especially Daesh and Jabhat al Nusra, have committed such deplorable acts.

“As we consider the plight of minority communities, we must avoid highlighting differences and reaffirm the values of diversity and peaceful coexistence. I urge the international community, particularly the Security Council, to overcome differences and seek new ways to ensure the protection of all Syrian civilians,” Mr. Ban said.

Mr. Ban plans to travel to Kuwait in the next few days for an international pledging conference for Syria. He called on all countries to give generously to help the millions of Syrians who are suffering and to assist neighbouring countries which shoulder most of the burden. Humanitarian assistance is vital to the region’s political stability.

Expressing concern about recent developments in Libya, where Daesh-affiliated groups are targeting minorities and attacking religious sites, Mr. Ban called on negotiating parties to quickly reach an agreement to bring an end to the military and political conflict. It is crucial to “curb the danger of Libya falling in the hands of terrorist groups.” Ongoing tribal tensions in the South could ignite violence along identity lines, the Secretary-General warned.

“No strategy will succeed without strong regional cooperation and an empowered Libyan State. The United Nations is developing a Plan of Action on Preventing Violent Extremism which we will launch in September,” he said.

While governments have the primary responsibility to protect minorities, the international community must engage with partners in civil society, faith leaders and others with influence, including regional and other actors, as well.

To that end, the Secretary-General urged religious and community leaders to clearly remind their followers that religions are about peace, not violence and war.

Mr Ban also announced that next month, he and the President of the UN General Assembly would invite leaders from different faith communities to a special event at the United Nations.

“We will build on the experience of the UN Alliance of Civilizations to promote mutual understanding and reconciliation,” he said, underscoring that the Middle East is widely considered the cradle of many of the world’s great civilizations.

“Today, let us resolve to empower people – especially youth – to transform the region into the birthplace of a more stable and secure world.”

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3 Huge Stories to Follow This Weekend

1) Iran Nuke Talks Down to the Wire

In Brief: This is arguably the most critical time yet in the complex negotiations that may lead to a diplomatic breakthrough with Iran. Negotiators from the Permanent 5 members of the Security Council plus Germany–the so-called P5+1 —  have until Tuesday to reach a broad agreement with Iranians in which Iran would curtail its nuclear program and put it under rigorous international inspection. In exchange, Iran will get some relief from sanctions.

The diplomacy and negotiations have reached a frenetic pace. Over the past few days, Iranian President Hassan Rouhani has spoken directly with the President of France and Prime Minister of the UK (and indirectly to Barack Obama though a letter, the contents of which have not been disclosed by the White House). Foreign Ministers from the P5+1 counties and Iran are in Lausanne, Switzerland for a final weekend of negotiations. Their self-imposed deadline of March 31 will probably not be extended any further so we are truly down to the wire. If a deal is struck–and that’s still a big ‘if’– it will be a broad political agreement that will set the stage for future highly technical negotiations about its implementation.

Want to go deeper?  

In the first seven minutes of this podcast episode, Joe Cirincione offers a compelling argument for why this nuclear deal would be a profoundly transformative moment for international peace and security.

The first six minutes this conversation with Trita Parsi takes an interesting look at the prospects of a nuclear deal through the perspective of domestic Iranian politics.

Twitter Users to Follow for #IranNukeTalks

@LauraRozen

@TParsi

@Cirincione

@barbaraslavin1

2) Big Elections in Nigeria

In Brief: Africa’s largest democracy  holds elections tomorrow. President Goodluck Jonathan is facing a tough re-election battle with longtime rival Muhammadu Buhari. These elections would be exceedingly consequential on their own and possibly expose deep geographic and ethnic divisions in the country. Jonathan is a Christian and draws most of his support from the South. Buhari is a Muslim from the North. But as always, it’s way more complicated than that.

With the Boko Haram insurgency raging in parts of the country and the prospects of election-related violence not insignificant, these elections –which were delayed six weeks over security concerns–are taking on heightened importance.

Want to go deeper?

A policy brief from the Council on Foreign Relations.

A 14 minute election explainer from the Global Dispatches Podcast, featuring journalist Dayo Olopade

Twitter Users to Follow for #NigeriaDecides

Jina Moore @ItsJina

Alkasim Abdulkader @alkayy

Tahir Sherriff @tahirsherriff

Heidi Voigt @HeidiVoigt

Joe Penny @JoePenny

3) Yemen Disintegrates

In Brief: Yemen is the poorest country in the region and is fast becoming the newest and hottest disaster in the Middle East. Sectarian violence and a power struggle between Iran-backed Houthi rebels and the largely Saudi backed government of Abd-Rabbu Hadi has exploded into conflict. Last weekend, rebels cemented their control over the country’s third largest city.  And this week, the Saudi and US-backed prime minister fled Yemen to Saudi Arabia, at which point Saudi Arabia launched airstrikes against Houthi positions inside Yemen. A ground invasion may be in the offing, and here Saudi Arabia would likely be supported by Egypt and other Gulf Countries.

The situation in Yemen combines the worst aspects of Syria and Libya. That is, sectarian bloodletting with a dash of daesh and outside rivals using local militias as proxies. It threatens to escalate tensions in the middle east even further–if that was even possible. Events on the ground are fast moving. As is the the UN-lead diplomacy to try and put a lid on this conflict before it explodes even further.

Want to Go Deeper?

The International Crisis Group is due out with its report later today. They always offer clarity and wisdom in situations like this. UPDATE: Here it is:

Twitter Users to Follow for Yemen

Laura Kasinof @Kasinof

Farea al-Muslimi @almuslimi

Gregory Johnson @GregoryDJohnson

Discussion

comments…

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More than 100 Chiefs of Defence gather at UN for first time

27 Mar 2015

Listen /

Welcoming ceremony for first detachment of China’s peacekeeping infantry battalion to arrive in South Sudan. UN Photo/JC McIlwaine

A “Chiefs of Defence Conference” is welcoming more than 100 military leaders at UN Headquarters for the first time in history, to discuss the changing nature of peacekeeping and ways to improve the UN’s work on the ground.

That’s according to Edmond Mulet, the Assistant Secretary-General for UN Peacekeeping Operations.

The United Nations does not have its own military force and depends on financial and human resource contributions from Member States to operate its missions.

Stephanie Coutrix spoke to Mr Mulet and began by asking what the UN hopes to achieve through this conference.

Duration: 3’52”

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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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