AllianceBernstein —Concentrated Global Equity PortfolioA Focus on Your Capital’s Long-Term Growth

1. Why Stick To Global Equities When Volatility Strikes?

ALLIANCEBERNSTEIN—CONCENTRATED GLOBAL EQUITY PORTFOLIO

Source: Compustat, CRSP, FactSet and AB, as of 31 December 2014. Historical/current analysis and forecasts do not guarantee future results. The S&P500 Index started in 1957 and has a longer track record as compared to MSCI World Index, which started in 1986.  US Equity is approximately 40%* of the world’s equity. *FT.com, as of Oct 2014. The S&P 500 Index is designed to be a leading indicator of US equities and is meant to reflect the risk/return characteristics of the large cap investment universe. An investor cannot invest directly in an index, and their results are not indicative of the performance for any specific investment, including an AB fund. Indices do not include sales charges or operating expenses associated with an investment in a mutual fund, which would reduce total returns. Universe consists of the top 1000 companies by market cap each year from 1979–2014, with annual rebalancing.

Source: AllianceBernstein (“AB”), as of 31 December 2014. Historical/current analysis and forecasts do not guarantee future results. An investor cannot invest directly into an index, and its performance is not indicative of any AB fund. Indices do not include sales charges or operating expenses associated with an investment in a mutual fund, which would reduce total returns. The MSCI World Index represents large and mid-cap equity performance across 23 developed markets countries, covering approximately 85% of the free float-adjusted market capitalization in each. This index offers a broad global equity benchmark, without emerging markets exposure. Calendar year returns are the price returns for MSCI World Index for each calendar year.‡Maximum drawdown refers to the largest market drops from a peak to trough during the year.

Companies with consistent growth rates get positive annualized excess returns against S&P 500

2. Why Identify Quality Companies With Consistent Growth?

+ Consistent growth is difficult to maintain but those companies that can grow their earnings consistently are rewarded

Global EquitiesHave Gained 27 of 35 Years MSCI World Index Calendar-Year Returns and Market Corrections (1980-2014)

-90 -70

-50

-30

-10

10

30

50

80 85 90 95 00 05 10 Calendar year returns Maximum Drawdown‡

Number of Companies with Earnings Growth Rates ≥10%Top 1,000 US Companies, 1979–2014

360

79

230.00.30.60.91.21.51.82.12.42.73.0

0

50

100

150

200

250

300

350

400

One Year Three Years Five Years

Excess (Percent)

Num

ber o

f Com

pani

es

Annualized ExcessReturns vs. S&P 500

1.0% 1.4%

2.7%Number of Companies

(Left Scale)

ALLIANCEBERNSTEIN — CONCENTRATED GLOBAL EQUITY PORTFOLIO

3. Why AllianceBernstein – Concentrated Global Equity?

The team believes that consistent long-term earnings growth in high quality companies drives long-term investment returns

The team actively manages the portfolio to create a concentrated portfolio of up to 35 international and high quality companies with predictable growth rates

The team deploys intensive bottom-up research and selection process that helps to identify, analyze, and to invest in companies which the team considers to be of highest quality

A global equity exposure brings the benefit of diversification by reducing the risks associated with investing in a single country

5. Fund ProfileThe Portfolio seeks long term growth of capital by investing in an actively-managed, concentrated portfolio consisting of equity, and/or other transferable securities considered by the Portfolio Manager to be very high quality and predictable growth companies throughout the world. These companies are chosen for their specific growth and business characteristics, earnings development, financial position and experienced management.

Portfolio Management Team: Mark Phelps, CIOInception dates: 23/12/2013 (Class A, USD) 23/01/2014 (Class A, EUR H) 17/03/2015 (Class A, SGD H)Base Currency: USDCurrency-Hedged Share Classes^: EUR, SGDNet Assets: USD86.01 million

Source: AB, as of 30 September 2015.

4. Consistently Applied Rigorous Investment Process

Source: AB, as of 30 September 2015. For illustration purposes only. Return on equity (ROE) is a measure of profitability that calculates how many dollars of profit a company generates with each dollar of shareholders' equity.

~2,500Stocks

Continuous dialogue between portfolio managers and analysts

~250High Quality

GrowthStocks

~100Stocks

25–35Stocks

Broad Universe Opportunity Set Investment Universe Concentrated Portfolio

Identifying QualityFocusing on the opportunity set Superior businesses

with consistent positive earnings

High degree of predictability

Industry leaders

Model and DiscussEvaluating the best candidates 5-Year projections Appraisal and valuation Collaboration and

debate

Portfolio ConstructionInvesting in compelling stocks Strongest conviction Attractively priced Industry diversification

DiscoveryScreening the broad universe Market Cap > US$2 billion Earnings growth > 10% Exclude companies with

low ROE, low growth, and commoditized businesses

+ Our stringent investment process offers strong focus on picking high-quality companies with consistent growth for our portfolio

ALLIANCEBERNSTEIN — CONCENTRATED GLOBAL EQUITY PORTFOLIO

Please refer to the Prospectus for the full list of share classes and currencies offered.Past performance is no guarantee of future results. The information contained herein reflects, as of the date hereof, the views of AllianceBernstein and sources believed by AllianceBernstein to be reliable. No representation or warranty is made concerning the accuracy of any data compiled herein. In addition, there can be no guarantee that any projection, forecast or opinion in these materials will be realized. The views expressed herein may change at any time subsequent to the date of issue hereof. These materials are provided for informational purposes only and under no circumstances may any information contained herein be construed as investment advice.Concentrated Global Equity Portfolio is a portfolio of ACMBernstein SICAV, an open-ended investment company with variable capital (société d’investissement à capital variable) incorporated under the laws of Luxembourg, which conducts business outside Germany and Austria under the name AllianceBernstein.The sale of shares in AllianceBernstein funds may be restricted in certain jurisdictions. In particular shares may not be offered or sold, directly or indirectly in the United States or to U.S. Persons, as is more fully described in the Fund’s Prospectus. Further details may be obtained from the Fund’s distributor. For more complete information on any AllianceBernstein fund, including investment objectives and policies, sales charges, expenses, risks and other matters of importance to prospective investors, call your financial representative for a current prospectus. Please read it carefully before you decide to invest.Investment Risks—Investment in the Portfolio entails certain risks. Investment returns and principal value of the Portfolio will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The Portfolio is meant as a vehicle for diversification and does not represent a complete investment program. Portfolio may invest in financial derivative instruments for investment purposes in addition to hedging and/or efficient portfolio management purposes and hence this may lead to a higher volatility to the net asset value of the Portfolio. These and other risks are described in the Portfolio’s prospectus. Prospective investors should read the prospectus and Product Highlights Sheet carefully including risk factors and discuss risk and the Portfolio’s fees and charges with their financial advisor to determine if the investment is appropriate for them.AllianceBernstein (Luxembourg) S.à.r.l. is the management company of the portfolio and has appointed AllianceBernstein (Singapore) Ltd. (Company Registration No. 199703364C) as its agent for service of process and as its Singapore representative. This material has not been reviewed by the Monetary Authority of Singapore.^ Currency-hedged share classes use hedging techniques in an attempt to reduce—but not eliminate—fluctuations between the

investor’s holdings in a particular currency-hedged share class denominated in the investor’s investing currency and the portfolio’s base currency. The goal is to deliver returns that track the portfolio’s base currency returns more closely. Convenience Pricing/ Reporting Currencies offers the ability to purchase or redeem shares using the currency indicated, which is then converted into the base currency of the portfolio using a market rate at the time of the purchase or redemption. Convenience pricing/Reporting Currencies involves no currency hedging and does not seek to provide any protection from currency fluctuations.

The [A/B] logo is a service mark of AllianceBernstein and AllianceBernstein® is a registered trademark used by permission of the owner, AllianceBernstein L.P. © 2015 AllianceBernstein L.P.

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