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AB All China Equity Portfolio
mutual fund
ACEAX
Payout Change
Pending
Price as of:
$8.16
+0.07
+0.87%
primary theme
China Region Equity
share class
ACEAX (Mutual Fund)
AB All China Equity Portfolio
Payout Change
Pending
Price as of:
$8.16
+0.07
+0.87%
primary theme
China Region Equity
share class
ACEAX (Mutual Fund)
AB All China Equity Portfolio
Payout Change
Pending
Price as of:
$8.16
+0.07
+0.87%
primary theme
China Region Equity
share class
Name
As of 12/24/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
19.2%
1 yr return
22.5%
3 Yr Avg Return
-8.4%
5 Yr Avg Return
-3.5%
Net Assets
$67 M
Holdings in Top 10
36.9%
52 WEEK LOW AND HIGH
$8.1
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.59%
SALES FEES
Front Load 4.25%
Deferred Load N/A
TRADING FEES
Turnover 75.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$2,500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/24/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
ACEAX - Profile
Distributions
- YTD Total Return 19.2%
- 3 Yr Annualized Total Return -8.4%
- 5 Yr Annualized Total Return -3.5%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.70%
- Dividend Yield 2.7%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameAB All China Equity Portfolio
-
Fund Family NameALLIANCEBE
-
Inception DateJul 25, 2018
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJohn Lin
Fund Description
The Adviser seeks to achieve the Fund’s investment objective by investing, under normal circumstances, at least 80% of the Fund’s net assets in a portfolio of equity securities of companies economically tied to the People’s Republic of China (“China”) (including Hong Kong). A company is considered to be economically tied to China if: (i) the company is domiciled or organized in China; (ii) the company has securities that are traded principally in China; or (iii) the company conducts a substantial part of its economic activities in China or is a U.S.-listed entity established by a company conducting a substantial part of its economic activities in China, which has been structured to provide investors with exposure to the company. Equity securities may include common stocks, preferred stocks, the equity securities of real estate investment trusts, or REITs, depositary receipts and derivative instruments related to equity securities. The Adviser expects to invest Fund assets both in shares of companies that trade on the Shanghai Stock Exchange or the Shenzhen Stock Exchange (“China A shares”) and shares of companies economically tied to China that trade in Hong Kong or outside of China.
The Adviser believes that, over time, securities that are undervalued by the market relative to their long-term earnings power can provide high returns. The Adviser utilizes fundamental analysis and its quantitative models to attempt to identify these securities for investment by the Fund, attempting to balance factors relating to valuation, company quality and investor sentiment, and will seek to build a portfolio that delivers attractive risk-adjusted returns.
The Adviser may, but frequently will not, hedge the foreign currency exposure resulting from the Fund’s security positions through the use of currency-related derivatives.
ACEAX - Performance
Return Ranking - Trailing
| Period | ACEAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 19.2% | -16.2% | 31.7% | 14.61% |
| 1 Yr | 22.5% | -12.9% | 36.3% | 16.85% |
| 3 Yr | -8.4%* | -19.4% | 4.4% | 27.71% |
| 5 Yr | -3.5%* | -13.7% | 13.7% | 55.71% |
| 10 Yr | N/A* | -4.5% | 10.0% | N/A |
* Annualized
Return Ranking - Calendar
| Period | ACEAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -12.6% | -26.6% | 26.3% | 19.10% |
| 2022 | -27.7% | -41.6% | -9.4% | 53.01% |
| 2021 | -16.0% | -52.5% | 26.5% | 47.50% |
| 2020 | 24.8% | 1.3% | 138.5% | 72.86% |
| 2019 | 35.8% | 4.4% | 42.6% | 7.35% |
Total Return Ranking - Trailing
| Period | ACEAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 19.2% | -16.2% | 31.7% | 14.61% |
| 1 Yr | 22.5% | -12.9% | 36.3% | 16.85% |
| 3 Yr | -8.4%* | -19.4% | 4.4% | 27.71% |
| 5 Yr | -3.5%* | -13.7% | 13.7% | 55.71% |
| 10 Yr | N/A* | -4.5% | 10.0% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | ACEAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -11.2% | -25.7% | 30.1% | 25.84% |
| 2022 | -26.9% | -40.4% | -6.8% | 59.04% |
| 2021 | -14.8% | -48.9% | 29.5% | 75.00% |
| 2020 | 25.1% | 2.0% | 138.5% | 78.57% |
| 2019 | 37.1% | 7.8% | 44.4% | 10.29% |
NAV & Total Return History
ACEAX - Holdings
Concentration Analysis
| ACEAX | Category Low | Category High | ACEAX % Rank | |
|---|---|---|---|---|
| Net Assets | 67 M | 1.85 M | 7.24 B | 33.71% |
| Number of Holdings | 64 | 27 | 1169 | 42.70% |
| Net Assets in Top 10 | 22.3 M | 971 K | 4.09 B | 48.31% |
| Weighting of Top 10 | 36.86% | 5.6% | 85.4% | 80.90% |
Top 10 Holdings
- Tencent Holdings Ltd 10.38%
- China Merchants Bank Co Ltd 3.66%
- Trip.com Group Ltd 3.38%
- Meituan 3.07%
- JD.com Inc 2.99%
- China Construction Bank Corp 2.94%
- PetroChina Co Ltd 2.94%
- PDD Holdings Inc 2.53%
- Shanghai Pudong Development Bank Co Ltd 2.51%
- Alibaba Group Holding Ltd 2.47%
Asset Allocation
| Weighting | Return Low | Return High | ACEAX % Rank | |
|---|---|---|---|---|
| Stocks | 98.91% | 51.72% | 113.15% | 40.45% |
| Cash | 1.59% | 0.00% | 33.85% | 61.80% |
| Preferred Stocks | 0.00% | 0.00% | 2.47% | 96.63% |
| Other | 0.00% | -0.02% | 47.32% | 92.13% |
| Convertible Bonds | 0.00% | 0.00% | 0.15% | 96.47% |
| Bonds | 0.00% | 0.00% | 0.00% | 96.63% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | ACEAX % Rank | |
|---|---|---|---|---|
| Consumer Cyclical | 21.91% | 0.00% | 95.37% | 56.47% |
| Financial Services | 15.69% | 0.00% | 41.62% | 37.65% |
| Communication Services | 12.15% | 0.00% | 41.06% | 45.88% |
| Basic Materials | 8.38% | 0.00% | 19.86% | 18.82% |
| Real Estate | 7.82% | 0.00% | 22.12% | 9.41% |
| Industrials | 7.79% | 0.00% | 36.69% | 63.53% |
| Consumer Defense | 7.12% | 0.00% | 20.13% | 50.59% |
| Utilities | 5.23% | 0.00% | 11.37% | 9.41% |
| Technology | 5.20% | 0.00% | 58.02% | 91.76% |
| Healthcare | 4.57% | 0.00% | 100.00% | 77.65% |
| Energy | 4.14% | 0.00% | 19.38% | 3.53% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | ACEAX % Rank | |
|---|---|---|---|---|
| Non US | 94.97% | 0.00% | 100.00% | 24.72% |
| US | 3.94% | 0.00% | 100.63% | 62.92% |
ACEAX - Expenses
Operational Fees
| ACEAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.59% | 0.09% | 11.25% | 42.70% |
| Management Fee | 0.95% | 0.09% | 1.50% | 79.78% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 71.43% |
| Administrative Fee | N/A | 0.06% | 0.25% | N/A |
Sales Fees
| ACEAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 4.25% | 3.50% | 5.75% | 90.00% |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| ACEAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 2.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| ACEAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 75.00% | 4.00% | 241.00% | 76.39% |
ACEAX - Distributions
Dividend Yield Analysis
| ACEAX | Category Low | Category High | ACEAX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 2.74% | 0.00% | 8.89% | 41.57% |
Dividend Distribution Analysis
| ACEAX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Annual | Annual |
Net Income Ratio Analysis
| ACEAX | Category Low | Category High | ACEAX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.70% | -1.17% | 3.66% | 23.53% |
Capital Gain Distribution Analysis
| ACEAX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 20, 2024 | $0.224 | OrdinaryDividend |
| Nov 13, 2024 | $0.019 | OrdinaryDividend |
| Dec 15, 2023 | $0.118 | OrdinaryDividend |
| Dec 16, 2022 | $0.089 | OrdinaryDividend |
| Dec 17, 2021 | $0.169 | OrdinaryDividend |
| Dec 18, 2020 | $0.029 | OrdinaryDividend |
| Dec 20, 2019 | $0.099 | OrdinaryDividend |
ACEAX - Fund Manager Analysis
Managers
John Lin
Start Date
Tenure
Tenure Rank
Jul 18, 2018
3.87
3.9%
John Lin has been a Portfolio Manager of China Equities since 2013, responsible for managing the China A Shares Value Portfolios, the China Opportunity Fund and the All China Equity Strategy. He also serves as a Senior Research Analyst, responsible for covering financials, real estate and conglomerate companies in Hong Kong and China. In 2008, Lin relocated to Hong Kong, where his research coverage included Asian financials, real estate and telecommunications services companies. He joined the firm in New York in 2006 as a research associate, covering consumer services companies for US Small & Mid-Cap Value Equities. Previously, Lin was a technology, media and telecom investment banker at Citigroup. He holds a BS (magna cum laude) in environmental engineering from Cornell University, and an MBA from the Wharton School at the University of Pennsylvania, where he earned the distinction Graduation with Honors. Location: Hong Kong
Stuart Rae
Start Date
Tenure
Tenure Rank
Jul 18, 2018
3.87
3.9%
Stuart Rae has been Chief Investment Officer of Asia-Pacific Value Equities since 2017. Prior to taking on this management responsibility for our Japanese team, he was CIO of Asia-Pacific ex Japan Value Equities from 2006 to 2017, and CIO of Australian Value Equities from 2003 to 2006. Rae joined the firm in 1999 as a research analyst covering the consumer sector, initially working in New York and London before moving to Sydney in 2003 and then Hong Kong in 2006. Previously, he was a management consultant with McKinsey for six years in Australia and the UK. Rae earned a BSc (Hons) in 1987 from
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 24.1 | 3.8 | 3.22 |
