AllianceBern Interm NY Muni A  ANIAX
  Morningstar Report
Overall Morningstar
Rating™
What is this?
As of 2009-10-31
Out of
Muni New York Int/Sh Funds
Rating derived from a weighted average of the fund's 3, 5, 10-year rating which are based on risk-adjusted performance.
Morningstar®
Style Box™
What is this?
   Avg Duration
   3.98 Yrs
   Avg Credit Quality
   AA
As of 2009-09-30
Day Change
$ 0.01
  
NAV (2009-11-20)
$ 14.22
  
YTD Return % (2009-11-20)
7.78%
  
Total Assets ($ mil)
1,830
View Data Definitions
  Performance    
Growth of $10,000 Fund: AllianceBern Interm NY Muni A
(from 2002-02-01 to 2009-10-31) Category: Muni New York Int/Sh
Index: BarCap Municipal TR USD
Total Annualized Returns % 1yr, 3yr and 5yr Returns as of 2009-11-20
Inception date: 2002-02-01 10yr and Inception Returns as of 2009-10-31
YTD Returns as of 2009-11-20
YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Fund 7.78 7.10 4.16 3.45 --- 3.50
+/- Category -1.84 -2.76 0.98 0.47 --- ---
+/- BarCap Municipal TR USD -4.36 -4.57 -0.09 -0.91 --- ---
Standardized Annual Returns %   more on standardized returns
Quarter-End (as of 2009-09-30) 5.06 5.88 3.42 2.93 --- 3.33
Month-End (as of 2009-10-31) 3.49 4.84 2.77 2.52 --- 3.09
After Tax Returns % (as of 2009-09-30 )  
On Distribution --- 4.80 2.75 2.51 --- ---
On Distribution & Sale of Shares --- 4.30 2.80 2.59 --- ---
Morningstar Rating --- --- --- ---
# of compared funds covered (3 yrs : out of 52 funds), (5 yrs : out of 52 funds), (10 yrs : out of funds). Ratings are based on risk-adjusted performance. The maximum initial sales fee is 3.00%, the maximum deferred sales fee is none, and the maximum redemption sales fee is none.
The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate thus an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted herein.
  Portfolio Profile    
Sector Breakdown %
General Obligations 7.73
Advance Refunded 1.82
State Appropriated Tobacco ---
Non-state Appropriated Tobacco 1.95
Education 4.01
Health 3.04
Housing 0.32
Industrial 5.18
Transportation 6.46
Utilities 5.84
Water/Sewer 10.48
Misc. Revenue 53.17
Bond Quality % of Bonds
AAA 43.1
AA 33.6
A 17.3
BBB 2.8
BB 2.9
B 0.4
Below B 0.0
Not Rated 0.0
 
Asset Allocation
% of Net Assets
Cash 2.1
Stocks 0.0
Bonds 97.9
Other 0.0
Foreign Stocks 0.0
(as a % of Assets)
Data through 2009-09-30 Data through 2009-09-30
 
Holding Status
Total Number of Stock Holdings Turnover % 24
Total Number of Bond Holdings 307 30 Day SEC Yield % 1.89
% of Assets in Top 10 Holdings 19.49 ending as of 2009-09-30
View Data Definitions
Top 10 Holdings Maturity
Date		 Amount
$000		 Value
$000		 % of Net
Assets
New York St Twy Auth 5% 2014-04-01 64,440 73,444 4.15
New York St Twy Auth 4% 2011-07-15 48,785 51,393 2.91
FHLBA 4.75% 2016-12-16 37,000 40,342 2.28
New York St Dorm Auth 5% 2018-03-15 24,750 29,125 1.65
New York N Y City Tr Cultural Rev 5.75% 2016-12-01 22,790 26,702 1.51
Puerto Rico Sales Tax Fing Cor Rev 5.5% 2022-08-01 23,200 25,982 1.47
New York St Twy Auth 5% 2017-04-01 21,620 25,003 1.41
CITIZENS PPTY INS CORP FLA SENIOR SE 2016-06-01 22,615 24,709 1.40
New York St Dorm Auth 5% 2016-03-15 20,815 24,285 1.37
New York St Loc Govt Assistanc Ref Bd 5% 2014-04-01 20,725 23,688 1.34
Data through 2009-09-30
  Other Information
Fund Inception: 2002-02-01
Portfolio Manager  (Start Date)
R.B. Davidson III  (1994-10-03)
Davidson joined Bernstein as director of the municipal bond department in 1992. Prior to that, he was vice president and head of municipal strategies at JP Morgan Securities, and from 1983 to 1985, he was an associate economist at Lehman Brothers. Davidson is the author of several articles and was named to the Institutional Investor All-America Research Team in 1992.
Fred S. Cohen  (1994-12-30)
Cohen is a senior vice president of AllianceBernstein with which he has been associated since prior to 2002.
Michael Brooks  (1999-12-31)
Brooks is the senior vice president Manager of AllianceBernstein, with which he has been associated since prior to 2002.
Terrance T. Hults  (2002-02-28)
Hults is a senior vice president with Alliance Capital Management L. P. Prior to joining Alliance in 1995, he was an associate and trader in the Municipal Derivative Products Department at Merrill Lynch Capital Markets.
Sales Charge %
(taken from prospectus dated 2009-10-01)
Front: 3.00
Deferred: None
Expense Ratio % 0.88
based on net assets
(taken from annual report dated 2008-09-30)
Correspondence Information
1345 Avenue of the Americas

New York,  NY  10105
Telephone:
800-221-5672
Data on this page does not include the fund's short positions (if any).
Show Data Definitions

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Past performance is no guarantee of future results.
Returns will vary and shares may be worth more or less than their original cost when sold.