AB Concentrated Growth Fund (WPSGX)
Overview
Concentrated, high-quality large cap equity portfolio with high active share
About this Fund
- Selectively invests in high-quality companies with consistent revenue and stable earnings growth potential
- Focuses on long-term, consistent earnings growth to drive long-term investment returns
- Strategy has historically outperformed its benchmark since inception with lower volatility and better risk mitigation relative to peers
Investment Approach
- Approximately 20 primarily US large-cap stocks
- Concentrated portfolio of highest conviction companies that the team believes are the most attractively valued
Net expense ratio, if applicable, reflects the contractual waiver of a portion of the Advisor’s fee and/or reimbursement of a portion of the Fund’s operating expenses. This waiver and/or reimbursement extends through a particular date, as specified in the Fund’s current prospectus, and may be further extended or terminated by the Advisor, as set forth in the prospectus. Absent waivers and/or reimbursements, performance would have been lower.
For more information on sales charges and expenses visit Understanding Sales Charges & Expenses.
Meet the Team
The level of due diligence and focus that we can have is unique to our team.
James T. Tierney, Jr.—Chief Investment Officer—Concentrated US Growth
Equity
© 2023 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
The Morningstar Rating™ for funds, or star rating, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. The star rating is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10.0% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35.0% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10.0% receive 1 star. The Overall Morningstar Rating™ for a managed product is derived from a weighted average of the performance figures associated with its three-, five- and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36–59 months of total returns, 60% five-year rating/40% three-year rating for 60–119 months of total returns and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
Lipper ratings are based on total returns at net asset value, without the imposition of a sales charge, which would reduce total return figures. Funds in the Lipper category generally have similar investment objectives for the funds, although some may have different investment policies.
Holdings & Characteristics
See the most recent fact sheet, shareholder report or prospectus for portfolio holdings and characteristics.
Complete Portfolio Holdings
Holdings and characteristics shown include underlying investments of pooled vehicles. Holdings are subject to change without notice.
The Fund’s/Portfolio’s holdings (including derivatives) are expressed as a percentage of total investments and may vary over time. They are provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned.
Literature
Additional Information
Investment Definitions
Alpha is the risk-adjusted measurement of "excess return" over a benchmark. Beta is a measure of an investment’s volatility in comparison to the market as a whole. Duration is a measure of the sensitivity of an asset or portfolio’s price to interest rate movements. Information ratio is a measurement of portfolio returns beyond the returns of a benchmark, compared to the volatility of those returns. R-squared is the percentage of a portfolio’s price movements that can be explained by movements in a benchmark index. Sharpe ratio is a measure of the fund’s return relative to the investment risk it has taken. A higher Sharpe ratio means the fund’s returns have been better given the level of risk the fund has taken. Standard deviation is a measure of the dispersion of a portfolio’s return from its mean. Tracking error is the difference in actual performance between a portfolio and its corresponding benchmark. Up capture measures the percentage of market gains captured when markets are up. Down capture measures the percentage of market losses endured when markets are down.
Risks To Consider
-
Diversification Risk: The Fund may have more risk because it is "non-diversified", meaning that it can invest more of its assets in a smaller number of issuers.
-
Focused Portfolio Risk: Portfolios that hold a smaller number of securities may be more volatile than more diversified portfolios, since gains or losses from each security will have a greater impact on the portfolio’s overall value.
-
Market Risk: The market values of the portfolio’s holdings rise and fall from day to day, so investments may lose value.
-
Investors should consider the investment objectives, risks, charges and expenses of the Fund/Portfolio carefully before investing. For copies of our prospectus or summary prospectus, which contain this and other information, visit our Literature Center or contact your AB representative. Please read the prospectus and/or summary prospectus carefully before investing.
AllianceBernstein Investments, Inc. (ABI) is the distributor of the AB family of mutual funds. ABI is a member of FINRA and is an affiliate of AllianceBernstein L.P., the manager of the funds.
AB mutual funds may be offered only to persons in the United States and by way of a prospectus. This website should not be considered a solicitation or offering of any investment products or services to investors residing outside of the United States.
Investment Products Offered: Are Not FDIC Insured | May Lose Value | Are Not Bank Guaranteed
The [A/B] logo and AllianceBernstein® are registered trademarks used by permission of the owner, AllianceBernstein L.P.
Looking for More Information on AB Concentrated Growth Fund (WPSGX)?
Feel free to get in touch with our team, and we will get back to
you as soon as possible.