The goals address challenges relating to economic prosperity, environmental sustainability and social inclusion The SDGs are a Powerful Framework of 17 Goals Why Align a Portfolio with the SDGs? The Sustainable Development Goals (SDGs) offer a road map for identifying thematic opportunities that are underappreciated by traditional investors The estimated investment required to achieve the SDGs is massive — roughly US$90 trillion 193 nations committed to achieving the goals, signaling broad global consensus and creating a powerful tailwind for aligned companies Investments that align with the SDGs can help to end poverty, protect the planet and improve the lives and prospects of everyone, everywhere Thematic Relevance Investment Opportunity Global Consensus Social and Environmental Objectives NO POVERTY ZERO HUNGER GOOD HEALTH AND WELL-BEING QUALITY EDUCATION GENDER EQUALITY CLEAN WATER AND SANITATION AFFORDABLE AND CLEAN ENERGY DECENT WORK AND ECONOMIC GROWTH INDUSTRY, INNOVATION AND INFRASTRUCTURE REDUCED INEQUALITIES SUSTAINABLE CITIES AND COMMUNITIES RESPONSIBLE CONSUMPTION AND PRODUCTION CLIMATE ACTION LIFE BELOW WATER LIFE ON LAND PEACE, JUSTICE AND STRONG INSTITUTIONS PARTNERSHIPS FOR THE GOALS 1. Equity Strategy Themed on Empowering Transitions 2. UN Sustainable Development Goals (SDGs) Provide a Map for Thematic Investors AB–SUSTAINABLE GLOBAL THEMATIC PORTFOLIO Important Information 1. The portfolio invests in securities that are positively exposed to environmentally- or socially-oriented sustainable investment themes derived from the UN Sustainable Development Goals (UNSDGs). 2. Invest in emerging markets is subject to higher volatility and higher risks (e.g. liquidity risk, currency risk, political risk, regulatory risk, economic risk, legal and taxation risk, settlement risk and custody risk). 3. Investment in the portfolio may also involve general investment risk, equities securities risk, ESG investment policy risk, concentration risk, focused portfolio risk, currency risk, small capitalization companies risk and Renminbi classes risk. The value of the portfolio can be volatile and can go down substantially within a short period of time. It is possible that the entire value of your investment in the portfolio can be lost. 4. The portfolio is entitled to use financial derivative instruments for hedging, efficient portfolio management and other investment purposes which may involve counterparty / credit risk, liquidity risk, valuation risk, volatility risk and over-the-counter transaction risk. The leverage element / component of a financial derivative instrument can result in a loss significantly greater than the amount invested in the financial derivative instrument by the Portfolio. Exposure to financial derivative instrument may lead to a high risk of significant loss by the Portfolio. 5. Dividends may be paid from capital or effectively out of capital of the Portfolio, which may amount to a partial return or withdrawal of an investor's original investment or from any capital gains attributable to that original investment and result in an immediate decrease of the net asset value per Share. Distributions for hedged share classes may be adversely affected by differences in the interest rates of the reference currency and the Portfolio's base currency, resulting in a greater amount of distribution being paid out of capital than other non-hedged share classes. 6. Investors should not rely on this document alone to make investment decisions. For informational purposes only. There can be no assurance that any investment objectives will be met. Source: United Nations and AllianceBernstein ("AB"). PEAK CARBON EMISSIONS Man-made climate change will have profound effects on economies and people around the world – especially those of us living at sea level. PEAK HEALTHCARE CRISIS We face many challenges to human health, not just in the form of disease, but also accidents and the access to, and affordability of, healthcare. PEAK INEQUALITY The divide between rich and poor has been exacerbated by central bank policies, regressive tax regimes, inequality of opportunity, and the digital divide. CLIMATE CRISIS HEALTH CRISIS INEQUALITY CRISIS EQUITY 1Q 2022
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
The goals address challenges relating to economic prosperity, environmental sustainability and social inclusion
The SDGs are a Powerful Framework of 17 Goals Why Align a Portfolio with the SDGs?
The Sustainable Development Goals (SDGs) offer a road map for identifying thematic opportunities that are underappreciated by traditional investors
The estimated investment required to achieve the SDGs is massive — roughly US$90 trillion
193 nations committed to achieving the goals, signaling broad global consensus and creating a powerful tailwind for aligned companies
Investments that align with the SDGs can help to end poverty, protect the planet and improve the lives and prospects of everyone, everywhere
ThematicRelevance
InvestmentOpportunity
GlobalConsensus
Social and Environmental
Objectives
NOPOVERTY
ZEROHUNGER
GOOD HEALTH AND WELL-BEING
QUALITYEDUCATION
GENDEREQUALITY
CLEAN WATER AND SANITATION
AFFORDABLE ANDCLEAN ENERGY
DECENT WORK AND ECONOMICGROWTH
INDUSTRY, INNOVATION AND INFRASTRUCTURE
REDUCEDINEQUALITIES
SUSTAINABLE CITIES AND COMMUNITIES
RESPONSIBLE CONSUMPTION AND PRODUCTION
CLIMATEACTION
LIFE BELOWWATER
LIFE ON LAND
PEACE, JUSTICEAND STRONG INSTITUTIONS
PARTNERSHIPSFOR THE GOALS
1. Equity Strategy Themed on Empowering Transitions
2. UN Sustainable Development Goals (SDGs) Provide a Map for Thematic Investors
AB–SUSTAINABLE GLOBAL THEMATIC PORTFOLIOImportant Information1. The portfolio invests in securities that are positively exposed to environmentally- or socially-oriented sustainable investment themes derived from the UN Sustainable
Development Goals (UNSDGs).2. Invest in emerging markets is subject to higher volatility and higher risks (e.g. liquidity risk, currency risk, political risk, regulatory risk, economic risk, legal and taxation
risk, settlement risk and custody risk).3. Investment in the portfolio may also involve general investment risk, equities securities risk, ESG investment policy risk, concentration risk, focused portfolio risk,
currency risk, small capitalization companies risk and Renminbi classes risk. The value of the portfolio can be volatile and can go down substantially within a short period of time. It is possible that the entire value of your investment in the portfolio can be lost.
4. The portfolio is entitled to use financial derivative instruments for hedging, efficient portfolio management and other investment purposes which may involve counterparty / credit risk, liquidity risk, valuation risk, volatility risk and over-the-counter transaction risk. The leverage element / component of a financial derivative instrument can result in a loss significantly greater than the amount invested in the financial derivative instrument by the Portfolio. Exposure to financial derivative instrument may lead to a high risk of significant loss by the Portfolio.
5. Dividends may be paid from capital or effectively out of capital of the Portfolio, which may amount to a partial return or withdrawal of an investor's original investment or from any capital gains attributable to that original investment and result in an immediate decrease of the net asset value per Share. Distributions for hedged share classes may be adversely affected by differences in the interest rates of the reference currency and the Portfolio's base currency, resulting in a greater amount of distribution being paid out of capital than other non-hedged share classes.
6. Investors should not rely on this document alone to make investment decisions.
For informational purposes only. There can be no assurance that any investment objectives will be met. Source: United Nations and AllianceBernstein ("AB").
PEAK CARBON EMISSIONSMan-made climate change will have profound effects on economies and people around the world – especially those of us living at sea level.
PEAK HEALTHCARE CRISISWe face many challenges to human health, not just in the form of disease, but also accidents and the access to, and affordability of, healthcare.
PEAK INEQUALITYThe divide between rich and poor has been exacerbated by central bank policies, regressive tax regimes, inequality of opportunity, and the digital divide.
CLIMATECRISIS
HEALTHCRISIS
INEQUALITYCRISIS
EQUITY 1Q 2022
This information is directed solely at persons in jurisdictions where the funds and relevant share class are registered or who may otherwise lawfully receive it. Before investing in AB funds, investors should review the fund’s full prospectus, together with the fund’s Product Key Facts and the most recent financial statements. Copies of these documents, including the latest annual report and, if issued thereafter, the latest semi-annual report, may be obtained free of charge from from www.abfunds.com / www.alliancebernstein.com or by contacting the local distributor in the jurisdictions in which the funds are authorized for distribution.The Portfolio is part of AB SICAV I (referred to as “AB”). AB is an open-ended investment company with variable capital (société d’investissement à capital variable) incorporated under the laws of the Grand Duchy of Luxembourg. Prior to 5 February 2016, AB’s legal name was ACMBernstein SICAV, its trading name was AllianceBernstein.
The Portfolio Inception Date refers to the inception date of the AllianceBernstein - Asian Technology Portfolio. On 31 August 2006, the Portfolio was formed by the merger of The Asian Technology Fund into the AllianceBernstein - Asian Technology Portfolio. On 30 November 2009 , AllianceBernstein - Asian Technology Portfolio was renamed to AllianceBernstein - Global Thematic Research Portfolio. On 30 April 2011, the Portfolio changed its name to AllianceBernstein - Thematic Research Portfolio. On 28 October 2016, AB FCP I - Global Growth Trends Portfolio (the "Transferring Portfolio") merged into the Portfolio, and share classes A and C of the Transferring Portfolio had been transferred to share classes AX and CX of the Portfolio. On 31 October 2018, AB SICAV I - Thematic Research Portfolio was renamed as AB SICAV I - Sustainable Global Thematic Portfolio. Please see the prospectus for details.
Past performance is no guarantee of future results. Please refer to the Prospectus for the full list of share classes and currencies offered. Total returns, provided by AB, include the change in net asset value and reinvestment of any distributions paid on Portfolio shares for the period shown, but do not reflect sales charges. Returns listed may not represent actual returns to an investor. Shares of the Portfolio are offered only pursuant to the Portfolio’s current prospectus together with the most recent financial statements. References, if any, to specific securities are presented to illustrate the application of our investment philosophy only and are not to be considered recommendations by AB. Any specific securities identified and described in the material do not represent all of the securities purchased, sold or recommended for the Portfolio, and may or may not be held by the Portfolio at any given time. It should not be assumed that investments in the securities were or will be profitable.
Investment Risks - Investment in the Portfolio entails certain risks. Investment returns and principal value of the Portfolio will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The Portfolio is meant as a vehicle for diversification and does not represent a complete investment program. These and other risks are described in the Portfolio’s prospectus. Prospective investors should read the prospectus carefully including risk factors and discuss risk and the Portfolio’s fees and charges with their financial advisor to determine if the investment is appropriate for them.
On 15 July 2021, the Portfolio had a Share Class split exercise, each base currency share class (which includes the Other Offered Currency Share Classes (the “OOC Share Classes”) ) was restructured into multiple share classes through a split. In addition to the base currency share class of a Portfolio, each OOC Share Class will now become a distinct share class denominated in the relevant offered currency as further described in detail in the Prospectus. There were no change in the investment objective, policies and strategies of the portfolio. Inception Date refers to the inception date of the share class before the split exercise.
^ Currency-hedged share classes use hedging techniques in an attempt to reduce - but not eliminate - fluctuations between the investor's holdings in a particular currency-hedged share class denominated in the investor's investing currency and the portfolio's base currency. The goal is to deliver returns that track the portfolio's base currency returns more closely.
Holdings are expressed as a percentage of total investments and may vary over time. Source: AB, as of 31 December 2021
Portfolio Manager: Daniel C. Roarty, CFA
Inception Date:01/08/1996 (Class A - USD)
Base Currency: USD
Reporting Currencies: EUR, HKD
Currency-hedgedShare Classes^:
AUD, CAD, EUR, SGD
Fund Size: USD 4,776.20 MillionInformation Technology 30.13%
Industrials 19.57%
Health Care 19.05%
Financials 12.18%
Consumer Discretionary 7.61%
Utilities 3.92%
Materials 2.97%
Consumer Staples 1.15%
Other 3.42%
For informational purposes only. Source: FEW Resources, United Nations and AB
Themes Expected to Persist, Irrespective of Changing Geopolitical or Economic FactorsSupported by Dynamic, Narrow and Definable Sub-Themes
ClimateSub Themes Cleaner Energy Resource Efficiency Sanitation and Recycling Sustainable Transportation
HealthSub Themes Access to Quality Care Food Security and Clean Water Medical Innovation Well Being
EmpowermentSub Themes Education and Employment Services Financial Security and Inclusion Information and Communication Technologies Sustainable Infrastructure
3. Sustainable Themes Provide Compelling Investment Opportunities
4. Portfolio Composition Sector allocation
5. Fund Profile
The portfolio reporting currencies are available in EUR and HKD. Hedged Share Classes in AUD, CAD, EUR and SGD are also available.^
聯博-環球可持續趨勢基金為 AB SICAV I (即“聯博”)旗下的一個投資組合。聯博是根據盧森堡大公國法律註冊成立的開放型可變資本投資公司 (société d'investissement à capital variable),法定名稱為 AB SICAV I。在 2016 年 2 月 5 日之前,聯博的法定名稱為 ACMBernstein SICAV,營業名稱為 AllianceBernstein。
本基金成立日期指聯博- 亞洲科技基金的成立日期。本基金於 2006 年 8 月 31 日由 The Asian Technology Fund 併入聯博 - 亞洲科技基金而成。於 2009 年 11 月 30 日,聯博 - 亞洲科技基金更改名稱為聯博 - 環球趨勢導向基金。於 2011 年 4 月 30 日,本基金更改名稱為聯博 - 趨勢導向基金。於 2016 年 10 月 28 日,AB FCP I - 環球增長動力基金(「移轉基金」)合併入本基金,而移轉基金的 A 類及 C 類股份類別已移轉至本基金的 AX 類及 CX 類股份類別。於 2018 年 10 月 31 日,聯博-趨勢導向基金更改名稱為聯博-環球可持續趨勢基金,基金的投資目標及政策亦有所變動。有關詳情載於認購章程內。
AB - Sustainable Global Thematic Portfolio聯博-環球可持續趨勢基金
∆
Important Information 重要事項1 The portfolio invests in securities that are positively exposed to environmentally- or socially-oriented sustainable investment themes derived from the UN Sustainable Development Goals (UNSDGs).本基金投資於積極面對源自聯合國可持續發展目標(UNSDGs)之環境或社會導向可持續投資主題的證券。
2 Invest in emerging markets is subject to higher volatility and higher risks (e.g. liquidity risk, currency risk, political risk, regulatory risk, economic risk, legal and taxation risk, settlement risk and custody risk).投資於新興市場面對較高的波動性及較高的風險(例如流動性風險、貨幣風險、政治風險、監管風險、經濟風險、法律及稅務風險、結算風險及託管風險)。
3 Investment in the portfolio may also involve general investment risk, equities securities risk, ESG investment policy risk, concentration risk, focused portfolio risk, currency risk, small capitalization companiesrisk and Renminbi classes risk. The value of the portfolio can be volatile and can go down substantially within a short period of time. It is possible that the entire value of your investment in the portfolio can belost.投資於本基金亦可能涉及一般投資風險、股本證券風險、環境、社會及企業管治投資政策風險、集中風險、基金投資集中風險、貨幣風險、小市值公司風險及人民幣類別的相關風險。 基金價格可反覆波動,並可在一段短時期內顯著下跌。閣下於本基金的投資可能會價值全失。
4 The portfolio is entitled to use financial derivative instruments for hedging, efficient portfolio management and other investment purposes which may involve counterparty / credit risk, liquidity risk, valuationrisk, volatility risk and over-the-counter transaction risk. The leverage element / component of a financial derivative instrument can result in a loss significantly greater than the amount invested in the financialderivative instrument by the Portfolio. Exposure to financial derivative instrument may lead to a high risk of significant loss by the Portfolio.本基金可使用衍生工具達到對沖、有效基金管理及其他投資目的,這可能交易對手/信貸風險、流動性風險、估值風險、波動性風險及場外交易風險。金融衍生工具的槓桿元素/成分可能導致損失遠高於本基金對金融衍生工具投資的金額。金融衍生工具的投資參與可能導致本基金遭受重大損失的高風險。
5 Dividends may be paid from capital or effectively out of capital of the Portfolio, which may amount to a partial return or withdrawal of an investor’s original investment or from any capital gains attributable to thatoriginal investment and result in an immediate decrease of the net asset value per Share. Distributions for hedged share classes may be adversely affected by differences in the interest rates of the referencecurrency and the Portfolio’s base currency, resulting in a greater amount of distribution being paid out of capital than other non-hedged share classes.本基金可從資本中或實際上以資本撥付派息(此舉可構成部分退回或撤回投資者原本的投資)或來自原本投資應佔的任何資本收益,由此即時減低每股資產淨值。貨幣對沖股份類別的分派金額可能受到貨幣對沖股份類別的參考貨幣與本基金的基準貨幣之間利率差異的不利影響,導致從資本中撥付的分派金額比其他非對沖股份類別的更大。
6 Investors should not rely on this document alone to make investment decisions.投資者不應只依賴本文件而作出投資決定。
Portfolio Objective/ Strategy/ Key Features 基金目標/ 策略/ 特色The investment objective of the Portfolio is to increase the value of your investment over time through capitalgrowth. In actively managing the Portfolio, the Investment Manager invests in securities that it believes arepositively exposed to environmentally- or socially-oriented sustainable investment themes derived from theUN Sustainable Development Goals (UNSDGs). The Investment Manager employs a combination of “top-down” and “bottom-up” investment processes. The Portfolio typically invests in companies which generate atleast 50% of their revenue from products and services that the Investment Manager believes are aligned withthe sustainable investment themes under UNSDGs. Under normal market conditions, the Portfolio typicallyinvests at least 80% of its assets in equity securities of issuers that the Investment Manager believes arepositively aligned with sustainable investment themes. These companies may be of any market capitalisationand from any country, including Emerging Markets.
Net Currency Exposure 淨貨幣分佈US Dollar 美元 64.83%Japanese Yen 日圓 4.89%Euro 歐元 4.40%Danish Krone 丹麥克朗 3.89%Pound Sterling 英鎊 3.39%Canadian Dollar 加元 3.20%Hong Kong Dollar 港元 2.81%Swiss Franc 瑞士法郎 2.71%Chinese Yuan Renminbi(Offshore)中國離岸人民幣 1.73%Other 其它 8.15%
^ Holdings are expressed as a percentage of total investments and may vary over time.投資組合配置比重以總投資比重之百分比表示,可能隨時間而改變。
^^ Excludes sectors with no portfolio holdings.基金沒有持股的行業不包括在內。
α Calculated from the net assets of the Portfolio. 以基金淨資產計算。1. As a percentage of purchase price for Class A only.
適用於 A 股之費用,以認購價格之百分比計算。2. As an annual percentage of average daily Net Asset Value.
以每日平均資產淨值之年度百分比率計費用。
Profile 基金資料Domicile註冊地點 Luxembourg 盧森堡
Inception Date基金成立日
01/08/1996(Class A – USD)( A 股–美元 )
Fiscal Year End財政年度終結 31 May(5 月 31 日)
Net Assets淨資產 $3,880.23 Million 百萬美元
Subscription/Redemption認購/贖回
Daily 每日
Base Currency基準貨幣 USD 美元
Reporting Currencies其他報價貨幣
EUR, HKD歐元,港元
Currency HedgedShare Classes†
貨幣對冲股份類別†
AUD, CAD, EUR, SGD澳元,加元,歐元,新加坡元
Initial Sales Charge1
首次銷售費 1Up to 最多為 5.00%(Class A 股)
Management Fee2
管理費 2
First $1.25b: 1.70%α
Over $1.25b: 1.50%α
首 12.5 億美元: 1.70%α
超過 12.5 億美元部份:1.50%α
Management CompanyFee2
管理公司費 20.05%
Total No. Of Holdings總持股數量 56
Portfolio ManagementTeam基金管理團隊
Daniel C. Roarty, CFA
For fees applicable to other share classes, please refer to the offeringdocuments for details.有關其他股份類別的費用詳情,請參閱基金銷售文件。
Waste Management, Inc. Industrials 工業 2.79%Vestas Wind Systems Industrials 工業 2.75%SVB Financial Group Financials 金融 2.72%Deere & Co. Industrials 工業 2.70%Lumentum Holdings, Inc. Information Technology 資訊科技 2.70%Becton Dickinson & Co. Health Care 健康護理 2.58%Danaher Corp. Health Care 健康護理 2.54%Flex Ltd. Information Technology 資訊科技 2.46%Apple, Inc. Information Technology 資訊科技 2.34%MSCI, Inc. Financials 金融 2.27%Total 合共 25.85%
Calendar Year Returns 年度回報%~
-50
0
50
2017 2018†† 2019 2020 2021 2022 YTD
2017Since Inception to
Year Ended 2018††
成立日至 2018 年終††2019 2020 2021 2022 YTD
年初迄今
Class A – USDA 股–美元 - -3.55 28.24 37.89 21.38 -14.92
Cumulative Total Returns 總累積回報%~
1 Year(年)
3 Year(年)
5 Year(年)
10 Year(年)
SinceInception††
成立迄今††
Class A – USDA 股–美元 0.57 60.43 - - 76.14
††Please refer to footnote ~ for Inception Date of Class A - USD.††請見附註~有關 A 股 – 美元的成立日。Source: AB, calculated on an NAV-to-NAV basis, with dividend reinvested, in U.S. Dollars資料來源:AB,按資產淨值比資產淨值計算,股息用於再投資,以美元計。
Past performance is no guarantee of future results. Total returns, provided by AB, include the change in net asset valueand reinvestment of any distributions paid on Portfolio shares for the period shown, but do not reflect salescharges.The information on this page is for information purposes only and should not be construed as an offer to sell,or solicitation of an offer to buy, or a recommendation for the securities of the Portfolio.過往的業績不保證將來的表現。AB 所提供的總回報包括期內之資產淨值變化及股息或利息之再投資,但是並不反映認購費。本頁資訊僅作參閱之用,不應被視作銷售或誘導讀者購買或推薦本基金之證券。
NAV Information (as of 31/03/2022)†
資產淨值資料(截至 2022 年 03 月 31 日)†
NAV基金淨值 Bloomberg ISIN
Class A – USDA 股–美元 40.67 ALLATAI:LX LU0069063385
Class A – HKDA 股–港元 318.57 ALGAHKD:LX LU0472753341
Class A – AUD(H)A 股–澳元(對沖) 47.90 ALGIAAH:LX LU0511384066
Class A – EUR(H)A 股–歐元(對沖) 31.38 AGTRAEH:LX LU0511383332
Class A – SGD(H)A 股–新加坡元(對沖) 32.22 ALGTASH:LX LU0590156302
Classes AX, BX and CX Shares Not offered to new investors USD750 | EUR750 |SGD1,000� Unless otherwise specified.
† The ongoing charges figure is based on expenses for the half year ended 30 November 2021. This figure may vary from year to year. The ongoing charges figure is an annualized figure based on information from the semi-annual report calculated by adding the applicable charges and payments deducted from the assets of the Portfolio and then dividing by the Portfolio's average Net Asset Value for the fiscal year attributable to the relevant share class.
Δ The ongoing charges figure of this share class is an estimated figure. The ongoing charges of this share class have been capped at this figure and, accordingly, the excess over such figure as at the Fund’s fiscal year end will be borne by the Management Company.
* Different minimum, additional and maximum investment limits may apply to different classes of shares denominated in different currencies. Investor should refer to the offering document of the Fund for details.● Class B Shares (and corresponding H Shares) are no longer open for subscription by new and existing investors. However, investors may request the exchange of their holdings of Class B Shares (and corresponding H Shares) for the same share class of another AB-sponsored Luxembourg-domiciled UCITS fund authorised in Hong Kong for retail distribution or otherwise available through an AB authorised dealer in Hong Kong.
- 2 -
AB SICAV ISustainable Global Thematic Portfolio
What is this product?
The Sustainable Global Thematic Portfolio (the "Portfolio") is a portfolio of AB SICAV I (the "Fund"), an open-ended investment company with variable capital domiciled in Luxembourg and its home regulator is Commission de Surveillance du Secteur Financier.
Objectives and Investment Strategy
Objectives
The investment objective of the Portfolio is to increase the value of your investment over time through capital growth.
Strategy
In actively managing the Portfolio, the Investment Manager invests in securities that it believes are positively exposed to environmentally- or socially-oriented sustainable investment themes derived from the UN Sustainable Development Goals (UNSDGs). The Investment Manager employs a combination of “top-down” and “bottom-up” investment processes. For the “top-down” approach, the Investment Manager identifies sustainable investment themes that are broadly consistent with achieving the UNSDGs such as Health, Climate, and Empowerment. Companies with revenue or earnings significantly contributed (directly or indirectly) from weapons, coal, alcohol, tobacco, pornography and gambling are excluded from the Portfolio’s investments. These sustainable investment themes may change over time based on the Investment Manager’s research. For the “bottom-up” approach, the Investment Manager analyses individual companies, focusing on assessing a company’s exposure to environmental, social and governance (ESG) factors. The Investment Manager emphasises positive selection criteria, in particular by analysing the exposure to such ESG factors of each security or issuer, over broad-based negative screens in assessing an issuer’s exposure to such ESG factors. The Portfolio typically invests in companies which generate at least 50% of their revenue from products and services that the Investment Manager believes are aligned with the sustainable investment themes under UNSDGs.
As part of its strategy to integrate ESG investment considerations, the Investment Manager employs a proprietary toolkit which involves ESG materiality mapping and scoring for individual companies and factors for ESG considerations into the Investment Manager’s assessment of the individual companies. As part of the proprietary toolkit, the Investment Manager (i) utilizes third-party research as part of its investment due diligence process on these companies (i.e. such as tracking the carbon footprint of the Portfolio) and (ii) conducts proprietary research, including monitoring the social and labour practices of all companies the Portfolio invests for satisfaction of ESG factors.
Under normal market conditions, the Portfolio typically invests at least 80% of its assets in equity securities of issuers that the Investment Manager believes are positively aligned with sustainable investment themes. These companies may be of any market capitalisation and from any country, including Emerging Markets (i.e. any country not defined as “high income” by the World Bank, or as otherwise determined by the Investment Manager which includes the subcategory of frontier markets). The Portfolio usually invests in at least three different countries and at least 40% of its net asset value in equity securities of non-US companies. The Portfolio’s investments may include convertible securities, real estate investment trusts (REITs) and exchange traded funds (ETFs).
The Portfolio uses derivatives for hedging (reducing risks), efficient portfolio management and other investment purposes.
Under exceptional circumstances (e.g. market crash or major crisis), the Portfolio may be invested temporarily up to 100% in cash, cash equivalents (such as bank deposits, certificates of deposit, commercial paper and treasury bills) and high qualityshort-term securities for cash flow management. To the extent the Portfolio invests defensively, it may not be pursuing its objective.
Use of derivatives / Investment in derivatives
The Portfolio’s net derivative exposure may be up to 50% of the Portfolio’s net asset value.
What are the key risks?
1. General Investment Risk
The Portfolio’s investment may fall in value due to any of the key risk factors below and therefore your investment in the
- 3 -
AB SICAV ISustainable Global Thematic Portfolio
Portfolio may suffer losses. There is no guarantee of the repayment of principal.
2. Equities Securities Risk
The Portfolio’s investment in equity securities is subject to general market risks, whose value may fluctuate due to various factors, such as changes in investment sentiment, political and economic conditions and issuer-specific factors.
3. ESG Investment Policy Risk
The use of ESG criteria may affect the Portfolio’s investment performance and, as such, the Portfolio may perform differently compared to similar funds that do not use such criteria. ESG-based criteria used in the Portfolio’s investment policy may result in the Portfolio foregoing opportunities to buy certain securities when it might otherwise be advantageous to do so, and/or selling securities due to their ESG characteristics when it might be disadvantageous to do so. As such, the application of ESG-based criteria may restrict the ability of the Portfolio to acquire or dispose of its investments at a price and time that it wishes to do so, and may therefore result in a loss to the Portfolio. The use of ESG criteria may also result in the Portfolio being concentrated in companies with ESG focus and its value may be more volatile than that of a fund having a more diverse portfolio of investments.
There is a lack of standardised taxonomy of ESG evaluation methodology and the way in which different ESG funds will apply ESG criteria may vary. Evaluation of a company’s ESG scoring using the Investment Manager’s proprietary toolkit involves the Investment Manager’s subjective judgment. In addition, in its assessment, the Investment Manager is dependent upon information and data from third party ESG providers, which may be incomplete, inaccurate or unavailable. As a result, there is a risk that the Investment Manager may incorrectly assess a security or issuer. There is also a risk that the Investment Manager may not apply the relevant ESG criteria correctly or that the Portfolio could have indirect exposure to issuers who do not meet the relevant ESG criteria used by the Portfolio.
4. Concentration Risk
The Portfolio’s investments are concentrated in specific industry sectors, instruments or geographical locations. The value of the Portfolio may be more volatile than that of a fund having a more diverse portfolio of investments. The value of the Portfolio may be more susceptible to adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event affecting the market.
5. Emerging Markets Risk
The Portfolio will invest in Emerging Markets, which are subject to higher risks (for example, liquidity risk, currency risk, political risk, regulatory risk, economic risk, legal and taxation risk, settlement risk and custody risk) and higher volatility than developed markets. Fluctuations in currency exchange rates may negatively affect the value of an investment or reduce returns – these risks are magnified in Emerging Markets.
6. Focused Portfolio Risk
The Portfolio may invest in a more limited number of companies than many other funds, and carry more risk because changes in the value of a single security could have a more significant effect, either negative or positive, on the Portfolio's net asset value.
7. Currency Risk
Underlying investments may be denominated in one or more currencies different from the Portfolio's base currency. Also, a class of shares may be designated in a currency other than the base currency of the Portfolio. This means changes in exchange rate controls, currency movements in such underlying investments and fluctuations in the exchange rates between these currencies and the base currency may significantly and unfavorably affect the net asset value of the Portfolio's shares.
8. Smaller Capitalisation Companies Risk
Small- and mid-cap stocks may have lower liquidity and their prices are more volatile to adverse economic developments than large-cap stocks—smaller companies generally face higher risks due to their limited product lines, markets and financial resources.
9. Risk Relating to Renminbi (“RMB”) Class(es)
RMB is currently not freely convertible and is subject to exchange controls and restrictions.
- 4 -
AB SICAV ISustainable Global Thematic Portfolio
Non-RMB based investors are exposed to foreign exchange risk and there is no guarantee that the value of RMB against the investors’ base currencies (for example HKD) will not depreciate. Any depreciation of RMB could adversely affect the value of investor’s investment in the Portfolio.
Although offshore RMB (CNH) and onshore RMB (CNY) are the same currency, they trade at different rates. Any divergence between CNH and CNY may adversely impact investors.
Under exceptional circumstances, payment of redemptions and/or dividend payment in RMB may be delayed due to the exchange controls and restrictions applicable to RMB.
10. Risk in Investing in Financial Derivative Instruments
Risks in investing with financial derivative instruments include counterparty / credit risk, liquidity risk, valuation risk, volatility risk and over-the-counter transaction risk. The leverage element / component of a financial derivative instrumentcan result in a loss significantly greater than the amount invested in the financial derivative instrument by the Portfolio. Exposure to financial derivative instrument may lead to a high risk of significant loss by the Portfolio.
11. Risks Associated with Payment of Dividends out of Capital
The Board has the sole and absolute discretion to amend the dividend policy, subject to the SFC’s prior approval (if required) and by giving no less than one month’s prior notice to investors. Dividend yield is not indicative of return of the Portfolio. Dividends may be paid from capital or effectively out of the capital of the Portfolio at the discretion of theBoard, which may amount to a partial return or withdrawal of an investor’s original investment or from any capital gains attributable to that original investment, and result in an immediate decrease of the net asset value per Share. The distribution amount and net asset value of the currency hedged share classes may be adversely affected by differences in the interest rates of the reference currency of the currency hedged share classes and the Portfolio's base currency, resulting in an increase in the amount of distribution that is paid out of capital and hence a greater erosion of capital than other non-hedged share classes.
How has the Portfolio performed?
The bar chart below shows the past performance of Class A USD Shares, which has been designated as the representative share class by the Management Company as it is a focus share class made available to Hong Kong investors.
• Past performance information is not indicative of future performance. Investors may not get back the full amount invested.
• The computation basis of the performance is based on the calendar year end, NAV-to-NAV, with dividend reinvested.
11.9%
21.0%
3.6% 1.3%
–2.1%
35.0%
–10.6%
28.2%
37.9%
21.4%18.5%
–30%
0%
30%
60%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Perc
enta
ge
Class A USD Shares Benchmark
The performance of these years were achieved under circumstances that no longer apply, the investment policy was changed since 2018
Portfolio launch year: 1996
Class A USD Shares launch year: 1996
- 5 -
AB SICAV ISustainable Global Thematic Portfolio
• These figures show by how much Class A USD Shares have increased or decreased in value during the calendar year being shown.
• Performance data has been calculated in USD including ongoing charges and excluding any subscription fee and redemption fee you might have to pay.
• With effect from 4 May 2020, the benchmark of the Portfolio is MSCI All Country World Index (ACWI).
Is there any guarantee?
This Portfolio does not have any guarantees. You may not get back the amount of money you invest.
What are the fees and charges?
(Different fee structure apply to different classes of shares. Investors should refer to the offering document of the Fund for details. )
Charges which may be payable by you
You may have to pay the following fees when dealing in the shares of the Portfolio:
Fee What you paySubscription fee(Initial Sales Charge)
Classes A, AD and AX Shares (and corresponding H Shares): up to 5% of the purchase price
Not applicable to other Share ClassesSwitching fee+ Not ApplicableRedemption fee Not ApplicableContingent Deferred Sales Charge Classes B and BX Shares (and corresponding H Shares): Where applicable
up to 4% (depending on years held) of the lesser of the current Net Asset Value or original cost of the Shares being redeemed
Classes C and CX Shares: Where applicable up to 1% (depending on years held) of the lesser of the current Net Asset Value or original cost of the Shares being redeemed
Not applicable to other Share Classes+Any additional fees charged by distributors may still apply.
Ongoing fees payable by the fundThe following expenses will be paid out of the Portfolio. They affect you because they reduce the return you get on your investments.
Fee What you payManagement fee* Classes A, AD, AX, B and BX Shares (and corresponding H Shares): up to
1.7%Classes C and CX Shares: up to 2.15%
Depositary fee*
Up to 1.00%Administration fee payable to the Administrator*Transfer Agent fee*Performance fee Not ApplicableDistribution fee* Classes B and BX Shares (and corresponding H Shares): 1.00%
Not applicable to other Share ClassesAdministration fee payable to the Management Company*
All Share Classes (and corresponding H Shares): 0.05%
*Percentage per annum of Net Asset Value
- 6 -
AB SICAV ISustainable Global Thematic Portfolio
Other fees
You may have to pay other fees when dealing in the shares of the Portfolio.
Additional Information
• You may generally buy and redeem shares at the Portfolio's next-determined Net Asset Value plus any applicable charges after the Management Company receives your request in good order on or before 4:00 P.M. U.S. Eastern Time on each Business Day (business day of both New York Stock Exchange and Luxembourg banks) for all share classes unless otherwise stated, or on or before 1:00 P.M. Central European Time on each Business Day for RMB hedged share classes, or on or before 6:00 P.M. Central European Time on each Business Day for HKD-denominated share classes (except class A HKD shares) and other currency hedged share classes, each time being the order cut-off time. Investors should note that, for applications sent through a Hong Kong distributor, such distributor may have an earlier cut-off time.
• The Net Asset Value of the Portfolio is calculated on each Business Day and will be available on the following website www.alliancebernstein.com.hk or alternatively, you may contact AllianceBernstein Hong Kong Limited (as the Hong Kong Representative of the Fund) at +852 2918 7888.
• Investors may obtain the past performance information of other share classes offered to Hong Kong investors fromwww.alliancebernstein.com.hk.
• The compositions of the dividends (i.e., the relative amounts paid out of (i) net distributable income and (ii) capital) for the most recent 12 months can be obtained from the Investment Manager and the Hong Kong Representative on request. The compositions of the dividends will also be available at: www.alliancebernstein.com.hk.
Important
If you are in doubt, you should seek professional advice. The SFC takes no responsibility for the contents of this statement and makes no representation as to its accuracy or completeness.
The website www.alliancebernstein.com.hk has not been reviewed by the SFC and may contain information of funds not authorised by the SFC.