AB Income Fund Releases Monthly Portfolio Update

26 Jan, 2016, 15:22 ET from AB Income Fund, Inc.

NEW YORK, Jan. 26, 2016 /PRNewswire/ -- AB Income Fund, Inc. [NYSE: ACG] (the "Fund") today released its monthly portfolio update as of December 31, 2015.





AB Income Fund, Inc.




Top 10 Fixed Income Holdings

Portfolio %

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

18.91%

2) U.S. Treasury Bonds 6.25%, 5/15/30

18.56%

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

18.49%

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

15.10%

5) U.S. Treasury Notes 2.125%, 8/31/20 - 9/30/21

11.05%

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

5.96%

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

4.60%

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

3.05%

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

2.26%

10) U.S. Treasury Bonds 8.00%, 11/15/21

2.13%



Investment Type

Portfolio %

Global Governments

107.14%

Corporates - Non-Investment Grade


Industrial


Consumer Non-Cyclical

2.60%

Energy

2.19%

Communications - Media

1.89%

Communications - Telecommunications

0.91%

Basic

0.74%

Consumer Cyclical - Retailers

0.72%

Capital Goods

0.66%

Consumer Cyclical - Other

0.65%

Consumer Cyclical - Automotive

0.38%

Technology

0.35%

Transportation - Services

0.28%

Services

0.23%

Other Industrial

0.19%

Consumer Cyclical - Entertainment

0.15%

SUBTOTAL

11.94%

Credit Default Swaps

2.08%

SUBTOTAL

2.08%

Financial Institutions


Banking

1.39%

Other Finance

0.16%

Finance

0.08%

REITS

0.06%

SUBTOTAL

1.69%

Utility


Electric

0.71%

SUBTOTAL

0.71%

SUBTOTAL

16.42%

Collateralized Mortgage Obligations


GSE Risk Share Floating Rate

3.87%

Non-Agency Fixed Rate

1.69%

Agency Fixed Rate

0.20%

Non-Agency Floating Rate

0.18%

SUBTOTAL

5.94%

Corporates - Investment Grade


Industrial


Energy

0.92%

Communications - Telecommunications

0.75%

Basic

0.48%

Capital Goods

0.34%

Consumer Non-Cyclical

0.34%

Consumer Cyclical - Retailers

0.15%

Transportation - Airlines

0.09%

SUBTOTAL

3.07%

Financial Institutions


Insurance

1.50%

Banking

0.49%

SUBTOTAL

1.99%

Utility


Electric

0.21%

SUBTOTAL

0.21%

Credit Default Swaps

0.08%

SUBTOTAL

0.08%

SUBTOTAL

5.35%

Commercial Mortgage-Backed Securities


Non-Agency Fixed Rate CMBS

3.58%

Credit Default Swaps

1.31%

Non-Agency Floating Rate CMBS

0.24%

SUBTOTAL

5.13%

Agencies


Agency Debentures

4.16%

SUBTOTAL

4.16%

Emerging Markets - Sovereigns


Emerging Markets - Sovereigns

1.28%

Credit Default Swaps

0.44%

SUBTOTAL

1.72%

Whole Loan Trusts


Performing Asset

1.57%

SUBTOTAL

1.57%

Emerging Markets - Corporate Bonds


Industrial


Consumer Non-Cyclical

0.43%

Capital Goods

0.38%

Communications - Telecommunications

0.19%

Basic

0.18%

Consumer Cyclical - Retailers

0.14%

Transportation - Airlines

0.13%

SUBTOTAL

1.45%

SUBTOTAL

1.45%

Common Stocks

1.33%

Quasi-Sovereigns


Quasi-Sovereign Bonds

1.13%

SUBTOTAL

1.13%

Preferred Stocks


Financial Institutions

0.54%

Industrial

0.21%

SUBTOTAL

0.75%

Governments - Sovereign Agencies

0.48%

Local Governments - Municipal Bonds

0.39%

Currency Instruments


Forward Currency Exchange Contracts

0.31%

SUBTOTAL

0.31%

Bank Loans


Industrial


Basic

0.10%

Communications - Media

0.09%

Other Industrial

0.05%

Technology

0.01%

SUBTOTAL

0.25%

SUBTOTAL

0.25%

Asset-Backed Securities


Autos - Fixed Rate

0.13%

Other ABS - Fixed Rate

0.10%

SUBTOTAL

0.23%

Investment Companies


Funds and Investment Trusts

0.06%

SUBTOTAL

0.06%

Interest Rate Swaps

-31.86%

Interest Rate Futures

-46.01%

Reverse Repurchase Agreements

-55.17%

Net Cash Equivalents


Investment Companies

4.62%

Cash

-0.47%

SUBTOTAL

4.15%

Derivative Offsets


Futures Offsets

46.08%

Swaps Offsets

29.00%

SUBTOTAL

75.08%


100.00%



Country Breakdown

Portfolio %

United States

91.05%

Brazil

2.09%

Mexico

1.01%

Canada

0.89%

Bermuda

0.80%

United Kingdom

0.41%

Luxembourg

0.39%

France

0.38%

Switzerland

0.30%

Indonesia

0.29%

Germany

0.26%

Spain

0.23%

India

0.23%

El Salvador

0.19%

Barbados

0.15%

Venezuela

0.14%

Jamaica

0.13%

Italy

0.11%

Netherlands

0.10%

Kenya

0.10%

Dominican Republic

0.10%

Angola

0.09%

Ivory Coast

0.08%

Pakistan

0.07%

Guatemala

0.06%

Ghana

0.06%

Sri Lanka

0.05%

Zambia

0.05%

South Africa

0.04%

Morocco

0.04%

Australia

0.03%

Norway

0.03%

Sweden

0.02%

Belgium

0.02%

Peru

0.01%

Total Investments

100.00%



Net Currency Exposure Breakdown

Portfolio %

United States Dollar

105.57%

Japanese Yen

3.71%

Chinese Yuan Renminbi

1.01%

New Zealand Dollar

0.02%

Mexican Peso

0.01%

Norwegian Krone

-0.02%

Australian Dollar

-0.03%

Brazilian Real

-0.08%

Canadian Dollar

-0.51%

Great British Pound

-0.98%

Singapore Dollar

-1.55%

Taiwan New Dollar

-3.04%

Euro

-4.11%

Total Net Assets

100.00%



Credit Rating

Portfolio %

AAA

55.81%

AA

0.07%

A

1.62%

BBB

10.89%

BB

8.49%

B

7.15%

CCC

2.35%

CC

0.27%

C

0.06%

D

0.41%

Not Rated

6.22%

Short Term Investments

4.62%

N/A

2.04%


100.00%



Bonds By Maturity

Portfolio %

Less than 1 year

-48.53%

1 to 5 years

28.61%

5 to 10 years

52.28%

10 to 20 years

57.77%

20 to 30 years

7.72%

More than 30 years

0.82%

Other

1.33%

Total Net Assets

100.00%



Portfolio Statistics:


Average Coupon:

7.56%

Average Bond Price :

115.63

Percentage of Leverage (based on Gross Assets):


Bank Borrowing:

0.00%

Investment Operations:

38.94%*

Preferred Stock:

0.00%

Tender Option Bonds:

0.00%

VMTP Shares:

0.00%

Total Fund Leverage:

38.94%

Average Maturity:

13.80 Years

Effective Duration:

5.30 Years

Total Net Assets:

$1,695.96 Million

Net Asset Value:

$7.86

Number of Holdings:

476

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.