Read Trifolds_Retirement Performance-RetPer_201206 text version

Retirement Performance at a Glance

2Q

Fund Performance

Total Returns as of 06/30/12

The performance shown within represents past performance and does not guarantee future results. Current performance may be lower or higher than the performance information shown. You may obtain performance information current to the most recent month-end by visiting www.alliancebernstein.com. The investment return and principal value of an investment in the funds will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. NAV returns do not reflect the funds' maximum sales charges; if these had been reflected, the funds' quoted performance would have been lower. Class A annualized SEC returns reflect the deduction of the maximum 4.25% sales charge. Class R shares have no front-end or contingent sales charges, but are subject to a 0.50% Rule 12b-1 distribution fee. Class K shares have no front-end or contingent sales charges, but are subject to a 0.25% Rule 12b-1 distribution fee. Class I shares have no front-end or contingent sales charges. Returns for other share classes will vary due to different charges and expenses. Performance assumes reinvestment of distributions and does not account for taxes. Please keep in mind that high, double-digit returns are highly unusual and cannot be sustained. Investors should also be aware that these returns were primarily achieved during favorable market conditions. Investors cannot invest directly in indices or averages, and their performance does not represent the performance of any AllianceBernstein mutual fund. Funds in the Lipper Averages generally have similar objectives to the Funds, although some may have different investment policies or sales and management fees. Lipper Average since-inception performance data, where shown, are as of the Fund's Class A inception date unless otherwise noted.

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 us online at www.alliancebernstein.com or contact your AllianceBernstein Investments representative. Please read the prospectus and/or summary prospectus carefully before investing.

Investment Products Offered

· Are Not FDIC Insured · May Lose Value · Are Not Bank Guaranteed

Average Annual Total Returns (%)

Performance as of June 30, 2012

Fund Name Ticketing Inception Symbol Date 1 Year 3 Years 5 Years 10 Years Since Inception Expense Ratios (%) Net1 Gross As of Date

Retirement Strategies

2000 Retirement Strategy Class A Class R Class K Class I Lipper Mixed-Asset Target 2010 Funds 2005 Retirement Strategy Class A Class R Class K Class I Lipper Mixed-Asset Target 2010 Funds 2010 Retirement Strategy Class A Class R Class K Class I Lipper Mixed-Asset Target 2010 Funds 2015 Retirement Strategy Class A Class R Class K Class I Lipper Mixed-Asset Target 2015 Funds 2020 Retirement Strategy Class A Class R Class K Class I Lipper Mixed-Asset Target 2020 Funds 2025 Retirement Strategy Class A Class R Class K Class I Lipper Mixed-Asset Target 2025 Funds 2030 Retirement Strategy Class A Class R Class K Class I Lipper Mixed-Asset Target 2030 Funds NAV SEC NAV SEC NAV SEC NAV SEC NAV SEC NAV SEC NAV SEC LTAAX LTARX LTAKX LTAIX 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 -0.23 -4.47 -0.45 -0.15 0.03 1.24 -1.39 -5.55 -1.60 -1.34 -1.18 1.24 -2.56 -6.66 -2.70 -2.50 -2.24 1.24 -3.43 -7.55 -3.64 -3.35 -3.17 0.53 -4.50 -8.55 -4.73 -4.48 -4.20 1.15 -5.57 -9.62 -5.66 -5.41 -5.14 -0.68 -6.31 -10.28 -6.57 -6.28 -6.02 -0.81 9.43 7.87 9.22 9.47 9.76 10.17 10.23 8.64 10.01 10.28 10.56 10.17 10.98 9.38 10.74 11.01 11.30 10.17 11.13 9.55 10.90 11.20 11.47 10.45 11.23 9.65 11.04 11.31 11.59 11.37 11.27 9.68 11.04 11.34 11.63 12.00 10.91 9.31 10.66 10.98 11.24 12.18 1.08 0.21 0.85 1.14 1.37 1.59 0.46 -0.42 0.26 0.52 0.76 1.59 -0.22 -1.08 -0.44 -0.19 0.07 1.59 -1.09 -1.94 -1.30 -1.06 -0.81 0.76 -2.03 -2.87 -2.22 -1.97 -1.72 0.44 -2.75 -3.59 -2.94 -2.69 -2.44 -0.17 -3.30 -4.14 -3.52 -3.27 -3.02 -0.78 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 3.57 2.92 3.35 3.63 3.87 3.44 3.30 2.65 3.08 3.35 3.61 3.44 3.10 2.45 2.88 3.15 3.40 3.44 2.77 2.12 2.56 2.82 3.08 3.03 2.31 1.67 2.11 2.37 2.62 2.98 2.24 1.60 2.05 2.29 2.56 3.02 1.70 1.06 1.51 1.74 1.99 2.57 0.86 -- 1.06 0.81 0.56 -- 0.92 -- 1.12 0.87 0.62 -- 0.94 -- 1.14 0.89 0.64 -- 0.98 -- 1.18 0.93 0.68 -- 1.02 -- 1.22 0.97 0.72 -- 1.04 -- 1.24 0.99 0.74 -- 1.06 -- 1.26 1.01 0.76 -- 2.02 -- 2.30 2.04 1.71 -- 1.86 -- 2.20 1.90 1.58 -- 1.20 -- 1.53 1.24 0.92 -- 1.15 -- 1.52 1.21 0.87 -- 1.13 -- 1.48 1.17 0.84 -- 1.17 -- 1.52 1.19 0.88 -- 1.23 -- 1.55 1.25 0.93 -- 12/31/11 -- 12/31/11 12/31/11 12/31/11 -- 12/31/11 -- 12/31/11 12/31/11 12/31/11 -- 12/31/11 -- 12/31/11 12/31/11 12/31/11 -- 12/31/11 -- 12/31/11 12/31/11 12/31/11 -- 12/31/11 -- 12/31/11 12/31/11 12/31/11 -- 12/31/11 -- 12/31/11 12/31/11 12/31/11 -- 12/31/11 -- 12/31/11 12/31/11 12/31/11 --

LTBAX LTBRX LTBKX LTBIX

LTDAX LTDRX LTDKX LTDIX

LTEAX LTERX LTEKX LTEIX

LTHAX LTHRX LTHKX LTHIX

LTIAX LTJRX LTJKX LTJIX

LTJAX LTKRX LTKKX LTKIX

1

If applicable, this reflects the Advisor's contractual waiver of a portion of its advisory fee and/or reimbursement of a portion of the Fund's operating expenses. This waiver extends through the Fund's current fiscal year and may be extended by the Adviser for additional one-year terms. Absent reimbursements or waivers, performance would have been lower.

Fund Name 2035 Retirement Strategy Class A Class R Class K Class I Lipper Mixed-Asset Target 2035 Funds 2040 Retirement Strategy Class A Class R Class K Class I Lipper Mixed-Asset Target 2040 Funds 2045 Retirement Strategy Class A Class R Class K Class I Lipper Mixed-Asset Target 2045 Funds 2050 Retirement Strategy Class A NAV SEC NAV SEC NAV SEC NAV SEC

Ticketing Inception Symbol Date LTKAX LTLRX LTLKX LTLIX 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 09/01/05 06/29/07 06/29/07 06/29/07 06/29/07 06/29/07 06/29/07 06/29/07 06/29/07 06/29/07 06/29/07

1 Year -7.00 -10.95 -7.19 -6.96 -6.78 -1.86 -7.28 -11.21 -7.41 -7.17 -6.88 -1.97 -7.33 -11.25 -7.43 -7.23 -7.01 -2.53 -7.36 -11.30 -7.45 -7.25 -7.06 -2.37 -7.51 -11.46 -7.68 -7.54 -7.21 -2.37

3 Years 10.44 8.84 10.24 10.54 10.81 12.58 10.35 8.78 10.10 10.38 10.70 12.48 10.22 8.63 10.02 10.28 10.51 12.68 10.28 8.68 10.13 10.38 10.69 12.54 10.10 8.52 9.88 10.10 10.43 12.54

5 Years -3.84 -4.67 -4.04 -3.78 -3.56 -1.00 -3.87 -4.71 -4.05 -3.82 -3.57 -1.21 -4.01 -4.84 -4.19 -3.95 -3.72 -1.25 -2.69 -3.53 -2.88 -2.61 -2.40 -1.48 -3.14 -3.98 -3.35 -3.09 -2.84 -1.48

10 Years -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- --

Since Inception 1.38 0.74 1.15 1.43 1.68 2.55 1.50 0.87 1.31 1.57 1.82 2.42 1.35 0.72 1.15 1.41 1.64 2.39 -2.69 -3.53 -2.87 -2.61 -2.40 -1.48 -3.14 -3.97 -3.35 -3.09 -2.84 -1.48

Expense Ratios (%) Net1 Gross As of Date 1.06 -- 1.26 1.01 0.76 -- 1.06 -- 1.26 1.01 0.76 -- 1.06 -- 1.26 1.01 0.76 -- 1.06 -- 1.26 1.01 0.76 -- 1.06 -- 1.26 1.01 0.76 -- 1.28 -- 1.60 1.29 0.98 -- 1.30 -- 1.62 1.31 0.99 -- 1.46 -- 1.72 1.40 1.08 -- 2.79 -- 2.96 2.68 2.34 -- 8.56 -- 7.98 7.71 7.43 -- 12/31/11 -- 12/31/11 12/31/11 12/31/11 -- 12/31/11 -- 12/31/11 12/31/11 12/31/11 -- 12/31/11 -- 12/31/11 12/31/11 12/31/11 -- 12/31/11 -- 12/31/11 12/31/11 12/31/11 -- 12/31/11 -- 12/31/11 12/31/11 12/31/11 --

LTLAX LTSRX LTSKX LTSIX

LTPAX LTPRX LTPKX LTPIX

LTQAX LTQRX LTQKX LTQIX

Class R Class K Class I Lipper Mixed-Asset Target 2050+ Funds 2055 Retirement Strategy NAV Class A SEC Class R Class K Class I Lipper Mixed-Asset Target 2050+ Funds

LTWAX LTWRX LTWKX LTWIX

1

If applicable, this reflects the Advisor's contractual waiver of a portion of its advisory fee and/or reimbursement of a portion of the Fund's operating expenses. This waiver extends through the Fund's current fiscal year and may be extended by the Adviser for additional one-year terms. Absent reimbursements or waivers, performance would have been lower.

Fund Name

Ticketing Inception Symbol Date

1 Year

3 Years

5 Years

10 Years

Since Inception

Expense Ratios (%) Net1 Gross As of Date

Equities

Equity Income Fund Class A Class R Class K Class I Lipper Utility Funds Real Asset Strategy Class A NAV SEC NAV SEC AUIAX AUIRX AUIKX AUIIX 10/18/93 03/01/05 03/01/05 03/01/05 10/18/93 03/08/10 03/08/10 03/08/10 03/08/10 03/08/10 03/29/01 11/03/03 03/01/05 03/01/05 03/29/01 02/12/69 03/01/05 03/01/05 03/01/05 02/12/69 03/01/82 11/03/03 03/01/05 03/01/05 03/01/82 3.52 -0.88 3.19 3.52 3.83 3.04 -9.70 -13.55 -9.85 -9.64 -9.39 -4.67 -5.80 -9.80 -6.02 -5.75 -5.56 -3.18 2.62 -1.73 2.34 2.69 3.04 -5.06 -20.56 -23.94 -20.57 -20.32 -20.02 -9.17 14.87 13.20 14.57 14.91 15.25 15.19 -- -- -- -- -- -- 17.59 15.91 17.34 17.62 17.91 16.93 24.35 22.57 24.12 24.52 24.93 17.76 4.96 3.46 4.90 5.22 5.59 10.64 2.22 1.34 1.97 2.28 2.58 0.24 -- -- -- -- -- -- 0.58 -0.29 0.37 0.62 0.87 -0.40 4.76 3.85 4.63 4.94 5.30 1.00 -2.68 -3.53 -2.71 -2.41 -2.07 -2.56 9.51 9.04 -- -- -- 5.79 -- -- -- -- -- -- 7.82 7.36 -- -- -- 7.06 8.54 8.06 -- -- -- 6.63 2.68 2.24 -- -- -- 3.92 8.58 8.33 7.41 7.74 8.05 -- 4.55 2.62 4.31 4.58 4.84 3.62 9.14 8.73 7.12 4.88 5.14 -- 9.72 9.61 7.16 7.46 7.84 -- 11.16 11.01 1.40 2.02 2.35 -- -- -- 1.45 1.20 -- -- 1.05 -- 1.25 1.00 0.75 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 1.23 -- 1.54 1.24 0.92 -- 1.61 -- 2.87 1.91 1.38 -- 1.27 -- 1.56 1.25 0.91 -- 1.43 -- 1.63 1.32 1.00 -- 1.50 -- 1.61 1.32 0.96 -- 03/01/12 -- 03/01/12 03/01/12 03/01/12 -- 01/31/12 -- 01/31/12 01/31/12 01/31/12 -- 03/01/12 -- 03/01/12 03/01/12 03/01/12 -- 11/01/11 -- 11/01/11 11/01/11 11/01/11 -- 11/01/11 -- 11/01/11 11/01/11 11/01/11 --

AMTAX AMTRX AMTKX AMTIX

Class R Class K Class I Lipper Global Flexible Portfolio Funds Average Small/Mid-Cap Value Fund NAV Class A SEC Class R Class K Class I Lipper Small-Cap Value Funds Small Cap Growth Fund NAV Class A SEC Class R Class K Class I Lipper Mid-Cap Growth Funds Average Global Thematic Growth Fund NAV Class A SEC Class R Class K Class I Global Multi-Cap Growth Funds

ABASX ABSRX ABSKX ABSIX

QUASX QUARX QUAKX QUAIX

ALTFX ATERX ATEKX AGTIX

Fixed Income

Global Bond Fund Class A Class R Class K Class I Lipper Global Income Funds High Income Fund Class A Class R Class K Class I Lipper High Current Yield Funds NAV SEC NAV SEC ANAGX ANARX ANAKX ANAIX 03/27/92 11/05/07 11/05/07 11/05/07 03/27/92 02/25/94 01/28/08 01/28/08 01/28/08 02/25/94 5.11 0.67 4.67 5.09 5.34 3.29 5.38 0.86 5.14 5.43 5.78 5.15 9.34 7.75 9.04 9.39 9.67 7.70 17.18 15.51 16.99 17.24 17.61 14.38 6.65 5.72 -- -- -- 5.64 9.79 8.84 -- -- -- 5.88 8.65 8.18 -- -- -- 6.18 13.64 13.15 -- -- -- 8.14 8.37 8.14 5.68 6.00 6.27 -- 11.45 11.19 9.87 10.16 10.47 -- -- -- -- -- -- -- -- -- -- -- -- -- 0.95 -- 1.29 1.00 0.59 -- 0.96 -- 1.28 1.01 0.63 -- 01/31/12 -- 01/31/12 01/31/12 01/31/12 -- 01/31/12 -- 01/31/12 01/31/12 01/31/12 --

AGDAX AGDRX AGDKX AGDIX

1

If applicable, this reflects the Advisor's contractual waiver of a portion of its advisory fee and/or reimbursement of a portion of the Fund's operating expenses. This waiver extends through the Fund's current fiscal year and may be extended by the Adviser for additional one-year terms. Absent reimbursements or waivers, performance would have been lower.

At AllianceBernstein, we take pride in having pioneered an innovative, research-driven approach to investing. We're one of the world's most highly respected providers of investment management services: We manage over $400 billion in assets for clients around the globe.1

Our investment services come in a variety of platforms to suit individual needs, including: > Mutual Funds > Separately Managed Accounts > Subadvisory Services > Education Strategies > Retirement Services

1As

of June 30, 2012.

A Word About Risk Investing involves risks and each fund has its own unique risks which are fully explained in the prospectus. Below are some of the most common risks associated with investing in our funds: Market Risk: The market values of the portfolio's holdings rise and fall from day to day, so investments may lose value. Foreign (Non-US) Risk: Non-US securities may be more volatile because of political, regulatory, market and economic uncertainties associated with such securities. Fluctuations in currency exchange rates may negatively affect the value of the investment or reduce returns.These risks are magnified in emerging or developing markets. 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. Interest Rate Risk (with prepayment risk): As interest rates rise, bond prices fall and vice versa - long-term securities tend to rise and fall more than short-term securities. The values of mortgage-related and asset-backed securities are particularly sensitive to changes in interest rates due to prepayment risk. Commodity Risk:Commodity-linked investments may experience greater volatility than investments in traditional securities. The value of commodity-linked investments may be affected by financial factors, political developments and natural disasters. Allocation Risk: Allocating to different types of assets may have a large impact on returns if one of these asset classes significantly underperforms the others.

Inflation Risk:Prices for goods and services tend to rise over time, which may erode the purchasing power of investments. Derivatives Risk: Investing in derivative instruments such as options, futures, forwards or swaps, can be riskier than traditional investments, and may be more volatile, especially in a down market. Capitalization Size Risk (Small/Mid): Small- and mid-cap stocks are often more volatile than large-cap stocks--smaller companies generally face higher risks due to their limited product lines, markets and financial resources. Credit Risk: A bond's credit rating reflects the issuer's ability to make timely payments of interest or principal--the lower the rating, the higher the risk of default. If the issuer's financial strength deteriorates, the issuer's rating may be lowered and the bond's value may decline. Sector/Industry Risk: Investing a substantial amount of assets in fewer economic sectors may be more volatile than more diversified strategies. Economic or market conditions affecting a particular sector could have a major impact on the portfolio's value. Below Investment Grade Securities Risk: Investments in fixed-income securities with lower ratings (commonly known as "junk bonds") tend to have a higher probability that an issuer will default or fail to meet its payment obligations. Leverage Risk: Trying to enhance investment returns by borrowing money or using other leverage tools--magnifies both gains and losses, resulting in greater volatility. Real Estate Risk: Investments in real estate can decline due to a variety of factors affecting the real estate market, such as economic conditions, mortgage rates and availability. REITs may have additional risks due to limited diversification and the impact of tax law changes.

AllianceBernstein Investments, Inc. (ABI) is the distributor of the AllianceBernstein family of mutual funds. ABI is a member of FINRA and is an affiliate of AllianceBernstein L.P., the manager of the funds. © 2012 AllianceBernstein L.P.

AllianceBernstein® and the AB logo are registered trademarks and service marks used by permission of the owner, AllianceBernstein L.P.

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