NEW YORK, Oct. 16, 2013 /PRNewswire/ -- AllianceBernstein L.P. (AllianceBernstein) announced today that as part of its commitment to provide greater flexibility to the defined contribution plan market, the firm will now offer a new non-revenue share class for a select group of mutual funds. The new share class, called Z shares, will be AllianceBernstein funds' lowest-priced share class and available for purchase on October 16, 2013 for the following funds:
- AllianceBernstein Core Opportunities Fund (ADGZX)
- AllianceBernstein Discovery Value Fund (ABSZX)
- AllianceBernstein Equity Income Fund (AUIZX)
- AllianceBernstein Global Bond Fund (ANAZX)
- AllianceBernstein Growth and Income Fund (CBBZX)
- AllianceBernstein High Income Fund (AGDZX)
"Clients are increasingly demanding a simpler and more transparent fee structure, so we've created these new shares to meet that growing demand," said Craig Lombardi, Managing Director and National Sales Manager for AllianceBernstein's Defined Contribution Investment-Only Business. "With this new low-cost share class, we can offer our clients flexible pricing options."
AllianceBernstein's new Z shares will be offered without 12b-1 fees or sub transfer agency fees and there is no minimum initial investment requirement. In addition, AllianceBernstein will not make distribution services and educational support payments in respect of Class Z shares.
As part of its continued efforts to help financial advisors strengthen the service they provide, and in conjunction with the launch of Z shares, AllianceBernstein has also introduced a series of enhancements to the retirement section of its website.The newly revamped Retirement Leaders website provides a select group of top retirement-focused advisors the tools and resources they need to build their business. The site has a personalized home screen for these advisors, with access to key retirement practice-management resources, industry trends, interactive tools, recent legal and regulatory updates, tools to help build investment menus and other timely topics. To view the site, go to www.abretirementleader.comAbout AllianceBernsteinAllianceBernstein is a leading global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private clients in major world markets. At September 30, 2013, AllianceBernstein Holding L.P. owned approximately 34.8% of the issued and outstanding AllianceBernstein Units and AXA, one of the largest global financial services organizations, owned an approximate 64.6% economic interest in AllianceBernstein. Additional information about AllianceBernstein may be found on our internet site, www.alliancebernstein.com. 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. 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. AllianceBernstein¨ and the AB logo are registered trademarks and service marks used by permission of the owner, AllianceBernstein L.P.