AB Income Fund Releases Monthly Portfolio Update

Feb 22, 2016, 16:54 ET from AB Income Fund, Inc.

NEW YORK, Feb. 22, 2016 /PRNewswire/ -- AB Income Fund, Inc. (NYSE: ACG) (the "Fund") today released its monthly portfolio update as of January 31, 2016.

 

AB Income Fund, Inc.

Top 10 Fixed Income Holdings

Portfolio %

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

19.19%

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

19.09%

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

18.93%

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

15.43%

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

11.22%

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

6.06%

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

4.82%

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

3.08%

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

2.30%

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

2.16%

Investment Type

Portfolio %

Global Governments

107.74%

Corporates - Non-Investment Grade

Industrial

Consumer Non-Cyclical

2.20%

Energy

2.17%

Communications - Media

1.83%

Communications - Telecommunications

0.90%

Basic

0.67%

Capital Goods

0.64%

Consumer Cyclical - Other

0.64%

Consumer Cyclical - Retailers

0.62%

Technology

0.42%

Consumer Cyclical - Automotive

0.37%

Transportation - Services

0.25%

Services

0.20%

Other Industrial

0.19%

Consumer Cyclical - Entertainment

0.15%

SUBTOTAL

11.25%

Credit Default Swaps

2.05%

SUBTOTAL

2.05%

Financial Institutions

Banking

1.44%

Other Finance

0.14%

Finance

0.07%

REITS

0.06%

SUBTOTAL

1.71%

Utility

Electric

0.69%

SUBTOTAL

0.69%

SUBTOTAL

15.70%

Collateralized Mortgage Obligations

GSE Risk Share Floating Rate

3.93%

Non-Agency Fixed Rate

1.65%

Agency Fixed Rate

0.19%

Non-Agency Floating Rate

0.04%

SUBTOTAL

5.81%

Corporates - Investment Grade

Industrial

Communications - Telecommunications

0.75%

Energy

0.57%

Consumer Non-Cyclical

0.34%

Capital Goods

0.30%

Basic

0.19%

Technology

0.19%

Consumer Cyclical - Retailers

0.14%

Transportation - Airlines

0.09%

SUBTOTAL

2.57%

Financial Institutions

Insurance

1.48%

Banking

0.48%

SUBTOTAL

1.96%

Utility

Electric

0.21%

SUBTOTAL

0.21%

Credit Default Swaps

0.08%

SUBTOTAL

0.08%

SUBTOTAL

4.82%

Commercial Mortgage-Backed Securities

Non-Agency Fixed Rate CMBS

3.36%

Credit Default Swaps

1.20%

Non-Agency Floating Rate CMBS

0.24%

SUBTOTAL

4.80%

Agencies

Agency Debentures

4.26%

SUBTOTAL

4.26%

Whole Loan Trusts

Performing Asset

1.54%

SUBTOTAL

1.54%

Emerging Markets - Corporate Bonds

Industrial

Consumer Non-Cyclical

0.40%

Capital Goods

0.30%

Communications - Telecommunications

0.19%

Basic

0.18%

Consumer Cyclical - Retailers

0.14%

Transportation - Airlines

0.13%

SUBTOTAL

1.34%

SUBTOTAL

1.34%

Emerging Markets - Sovereigns

Emerging Markets - Sovereigns

0.87%

Credit Default Swaps

0.44%

SUBTOTAL

1.31%

Common Stocks

1.30%

Quasi-Sovereigns

Quasi-Sovereign Bonds

0.90%

SUBTOTAL

0.90%

Preferred Stocks

Financial Institutions

0.53%

Industrial

0.22%

SUBTOTAL

0.75%

Local Governments - Municipal Bonds

0.40%

Governments - Sovereign Agencies

0.29%

Asset-Backed Securities

Autos - Fixed Rate

0.13%

Other ABS - Fixed Rate

0.10%

SUBTOTAL

0.23%

Bank Loans

Industrial

Basic

0.09%

Other Industrial

0.05%

Technology

0.01%

SUBTOTAL

0.15%

SUBTOTAL

0.15%

Currency Instruments

Forward Currency Exchange Contracts

0.14%

SUBTOTAL

0.14%

Investment Companies

Funds and Investment Trusts

0.06%

SUBTOTAL

0.06%

Interest Rate Swaps

-31.23%

Interest Rate Futures

-47.37%

Reverse Repurchase Agreements

-54.68%

Net Cash Equivalents

Investment Companies

4.74%

Cash

2.30%

SUBTOTAL

7.04%

Derivative Offsets

Futures Offsets

45.84%

Swaps Offsets

28.86%

SUBTOTAL

74.70%

Total 

100.00%

Country Breakdown

Portfolio %

United States

93.17%

Brazil

1.00%

Canada

0.88%

Bermuda

0.79%

Mexico

0.76%

France

0.38%

Indonesia

0.29%

Luxembourg

0.29%

United Kingdom

0.28%

Germany

0.26%

Switzerland

0.24%

Spain

0.23%

India

0.20%

Italy

0.16%

Barbados

0.15%

El Salvador

0.14%

Kenya

0.10%

Dominican Republic

0.09%

Ivory Coast

0.08%

Angola

0.08%

Jamaica

0.06%

Guatemala

0.06%

Netherlands

0.06%

Ghana

0.05%

Morocco

0.04%

South Africa

0.04%

Zambia

0.04%

Norway

0.02%

Australia

0.02%

Sweden

0.02%

Peru

0.01%

Belgium

0.01%

Total 

100.00%

Net Currency Exposure Breakdown

Portfolio %

United States Dollar

105.00%

New Zealand Dollar

0.05%

Brazilian Real

0.04%

Argentine Peso

0.03%

Mexican Peso

0.02%

Australian Dollar

-0.03%

Norwegian Krone

-0.03%

Great British Pound

-0.06%

Canadian Dollar

-0.50%

Singapore Dollar

-1.54%

Taiwan New Dollar

-2.98%

Total Net Assets

100.00%

Credit Rating

Portfolio %

AAA

58.38%

AA

0.07%

A

1.59%

BBB

8.78%

BB

8.05%

B

6.27%

CCC

1.93%

CC

0.26%

C

0.05%

D

0.36%

Not Rated

5.64%

Short Term Investments

4.74%

N/A

3.88%

Total 

100.00%

Bonds By Maturity

Portfolio %

Less than 1 year

-46.51%

1 to 5 years

28.30%

5 to 10 years

49.74%

10 to 20 years

58.60%

20 to 30 years

8.01%

More than 30 years

0.56%

Other

1.30%

Total Net Assets

100.00%

Portfolio Statistics:

Average Coupon:

7.39%

Average Bond Price :

118.63

Percentage of Leverage (based on Gross Assets):

Bank Borrowing:

0.00%

Investment Operations:

40.63%*

Preferred Stock:

0.00%

Tender Option Bonds:

0.00%

VMTP Shares:

0.00%

Total Fund Leverage:

40.63%

Average Maturity:

13.93 Years

Effective Duration:

5.21 Years

Total Net Assets:

$1,704.08 Million

Net Asset Value:

$7.90

Number of Holdings:

452

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.