FIXED INCOME

January 2019 1 MONTHLY NAV AND DIVIDEND SUMMARY

AB - European Income Portfolio - NAV, Dividend and Yield Information as of 01/31/2019 01/31/2019

The share class below intends to declare and pay monthly dividends. Dividend amount/distribution rate is not guaranteed and may be paid from capital of the Portfolio. (See Important Information 6) /( 6) Annualized yield is calculated with the following formula: dividend of the month x 12 / ex-dividend price of the month x 100. Positive distribution yield does not imply positive return. The historical data provided below are for information purposes only and do not imply prospective yields of the Portfolio. x 12 / x 100

Class AT shares, EUR (ISIN: LU0173638916) AT

Month

NAV ()

DIV ()

Annualized Yield

01/31/2019 6.74 0.0201 3.58% 12/31/2018 6.65 0.0223 4.02% 11/30/2018 6.67 0.0223 4.01% 10/31/2018 6.76 0.0223 3.96% 09/28/2018 6.84 0.0223 3.91% 08/31/2018 6.86 0.0223 3.90% 07/31/2018 6.90 0.0223 3.88% 06/29/2018 6.87 0.0223 3.90% 05/31/2018 6.91 0.0223 3.87% 04/30/2018 7.03 0.0223 3.81% 03/29/2018 7.04 0.0223 3.80% 02/28/2018 7.06 0.0223 3.79% 01/31/2018 7.11 0.0223 3.76% 12/29/2017 7.10 0.0223 3.77% 11/30/2017 7.14 0.0223 3.75% 10/31/2017 7.19 0.0223 3.72% 09/29/2017 7.12 0.0242 4.08% 08/31/2017 7.14 0.0242 4.07% 07/31/2017 7.15 0.0242 4.06% 06/30/2017 7.12 0.0242 4.08% 05/31/2017 7.17 0.0242 4.05% 04/28/2017 7.12 0.0242 4.08% 03/31/2017 7.09 0.0242 4.10% 02/28/2017 7.12 0.0242 4.08%

Important Information 1. The portfolio invests primarily in fixed-income securities of European companies and governments.

2. The portfolio may invest in European securities where the issuers have their registered office or exercise the predominant part of their economic activities in Europe. A significant deterioration of the European debt crisis could have a

significant adverse impact on some of the Portfolios investments.

3. Invest in emerging markets is subject to higher volatility and higher risks (e.g. liquidity risk, currency risk, political risk, regulatory risk and economic risk).

4. Investment in the portfolio may also involve fixed-income securities risks, illiquid assets risk, country risk, management risk, credit risks and Eurozone risk. Exposure to lower rated and unrated instruments can subject the Portfolio to greater risk of loss of principal and interest than higher-rated securities. The value of the portfolio can be volatile and can go down substantially within a short period of time. It is possible that the entire value of your investment in the portfolio can be lost.

5. The portfolio is entitled to use financial derivative instruments for hedging and efficient portfolio management purposes which may involve additional risks. In adverse situations, the portfolios use of derivative instruments may become

ineffective in hedging or efficient portfolio management and the portfolio may suffer significant losses.

6. Dividends may be paid from capital or effectively out of the capital of the Portfolio, which may amount to a partial return or withdrawal of an investors original investment or from any capital gains attributable to that original investment and

result in an immediate decrease of the Net Asset Value per Share. ()

7. Investors should not rely on this document alone to make investment decisions.

EIPDYIENCHHK0119 (Issue date of this document : 02/11/2019)

Class AT shares, USD Hedged^ (ISIN: LU0539802446) AT^

Class AT shares, AUD-Hedged^ (ISIN: LU0539801802) AT^

Month

NAV (US$) ()

DIV (US$) ()

Annualized Yield

Month

NAV (A$)

DIV (A$)

Annualized Yield

01/31/2019 14.67 0.0787 6.44% 01/31/2019 14.65 0.0736 6.03% 12/31/2018 14.46 0.0878 7.29% 12/31/2018 14.46 0.0797 6.61% 11/30/2018 14.50 0.0817 6.76% 11/30/2018 14.49 0.0797 6.60% 10/31/2018 14.70 0.0817 6.67% 10/31/2018 14.69 0.0797 6.51% 09/28/2018 14.86 0.0817 6.60% 09/28/2018 14.86 0.0797 6.44% 08/31/2018 14.92 0.0817 6.57% 08/31/2018 14.92 0.0797 6.41% 07/31/2018 15.01 0.0817 6.53% 07/31/2018 15.01 0.0797 6.37% 06/29/2018 14.94 0.0817 6.56% 06/29/2018 14.94 0.0797 6.40% 05/31/2018 15.01 0.0817 6.53% 05/31/2018 15.02 0.0797 6.37% 04/30/2018 15.28 0.0817 6.42% 04/30/2018 15.29 0.0797 6.26% 03/29/2018 15.30 0.0756 5.93% 03/29/2018 15.31 0.0766 6.00% 02/28/2018 15.31 0.0756 5.93% 02/28/2018 15.32 0.0766 6.00%

Class AT shares, SGD-Hedged^ (ISIN: LU1035781084) AT^ Month

NAV (SGD) ()

DIV (SGD) ()

Annualized Yield

01/31/2019 13.69 0.0675 5.92% 12/31/2018 13.51 0.0718 6.38% 11/30/2018 13.54 0.0670 5.94% 10/31/2018 13.74 0.0670 5.85% 09/28/2018 13.89 0.0670 5.79% 08/31/2018 13.94 0.0670 5.77% 07/31/2018 14.02 0.0670 5.73% 06/29/2018 13.96 0.0670 5.76% 05/31/2018 14.03 0.0670 5.73% 04/30/2018 14.28 0.0670 5.63% 03/29/2018 14.31 0.0622 5.22% 02/28/2018 14.32 0.0622 5.21%

The calendar year performance for AB - European Income Portfolio: Class AT, EUR - 5.93% (2014), 0.23% (2015), 5.02% (2016), 3.48% (2017), -2.64% (2018) and 1.66% (2019 YTD). Source: AllianceBernstein (AB), calculated on an NAV-to-NAV basis with dividend reinvested, in EUR, as of 31 January 2019. - AT 5.93%2014 0.23%2015 5.02%20163.48%2017 -2.64%2018 1.66%2019 AB 2019 1 31 ^ Currency-hedged share classes use hedging techniques in an attempt to reducebut not eliminatefluctuations between the investors holdings in a particular currency-hedged share class denominated in the investors investing currency and the portfolios base currency. The goal is to deliver returns that track the portfolios 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. ^ AB FCP I - European Income Portfolio is part of AB FCP I (referred to as AB). AB is a mutual investment fund (fonds commun de placement) organized under the laws of the Grand Duchy of Luxembourg. Prior to 5 February 2016, ABs legal name was ACMBernstein, its trading name was AllianceBernstein. This information is directed solely at persons in jurisdictions where the funds and relevant share class are registered or who may otherwise lawfully receive it. Before investing, investors should review the funds full prospectus, together with the funds Product Key Facts and the most recent financial statements. Copies of these documents, including the latest annual report and, if issued thereafter, the latest semi-annual report, may be obtained free of charge from www.abfunds.com.hk or by contacting the local distributor in the jurisdictions in which the funds are authorized for distribution. - AB FCP I (fonds commun de placement) AB FCP I 2016 2 5 ACMBernstein AllianceBernstein www.abfunds.com.hk Past performance is no guarantee of future results. Total returns, provided by AB, include the change in Net Asset Value and reinvestment of any distributions paid on portfolio shares for the period shown, but do not reflect sales charges. Shares of the portfolio are offered only pursuant to the portfolios current Prospectus together with the most recent financial statements. AB Investment RisksInvestment in the Fund entails certain risks. Investment returns and principal value of the Fund will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost. Dividends are not paid for all share classes and are not guaranteed. The Fund is meant as a vehicle for diversification and does not represent a complete investment program. Returns denominated in a currency other than the base currency of the fund may increase or decrease as a result of foreign exchange currency fluctuations. The Portfolio is denominated in Euro. Non-Euro based investors may therefore be subject to the risk of an unfavorable change in the rate of exchange between the Euro and the relevant currency. These and other risks are described in the Funds prospectus. Prospective investors should read the prospectus including risk factors carefully and discuss risk and the funds fees and charges with their financial adviser to determine if the investment is appropriate for them.

Source: AB, as of 31 January 2019. AB 2019 1 31 This document has not been reviewed by the Securities and Futures Commission. The issuer of this document is AllianceBernstein Hong Kong Limited.

2019 AllianceBernstein L.P. 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. 2019 AllianceBernstein L.P. [A/B] AllianceBernstein AllianceBernsteinAllianceBernstein L.P.

FIXED INCOME

January 2019 1 MONTHLY NAV AND DIVIDEND SUMMARY

AB - European Income Portfolio - NAV, Dividend and Yield Information as of 01/31/2019 01/31/2019 The share classes below intend to declare and pay monthly dividends. Dividend amount/distribution rate is not guaranteed and may be paid from capital of the Portfolio. (See Important Information 6) /( 6) Annualized yield is calculated with the following formula: Dividend of the month x 12 / ex-dividend price of the month x 100. Positive distribution yield does not imply positive return. The historical data provided below are for information purposes only and do not imply prospective yields of the Portfolio. x 12 / x 100

Class AA shares, EUR (ISIN: LU1008670876) AA

Class AA shares, USD-Hedged^ (ISIN: LU1013768186) AA^

Month

NAV ()

DIV ()

Annualized Yield

Month

NAV (USD) ()

DIV (USD) ()

Annualized Yield

01/31/2019 12.84 0.0531 4.96% 01/31/2019 12.89 0.0841 7.83% 12/31/2018 12.68 0.0592 5.60% 12/31/2018 12.72 0.0940 8.87% 11/30/2018 12.74 0.0592 5.58% 11/30/2018 12.77 0.0889 8.35% 10/31/2018 12.93 0.0592 5.49% 10/31/2018 12.97 0.0889 8.23% 09/28/2018 13.10 0.0592 5.42% 09/28/2018 13.12 0.0889 8.13% 08/31/2018 13.16 0.0592 5.40% 08/31/2018 13.19 0.0889 8.09% 07/31/2018 13.26 0.0592 5.36% 07/31/2018 13.28 0.0889 8.03% 06/29/2018 13.21 0.0592 5.38% 06/29/2018 13.24 0.0889 8.06% 05/31/2018 13.30 0.0592 5.34% 05/31/2018 13.32 0.0889 8.01% 04/30/2018 13.56 0.0592 5.24% 04/30/2018 13.58 0.0889 7.86% 03/29/2018 13.59 0.0592 5.23% 03/29/2018 13.61 0.0835 7.36% 02/28/2018 13.63 0.0592 5.21% 02/28/2018 13.64 0.0835 7.35%

Important Information 1. The portfolio invests primarily in fixed-income securities of European companies and governments.

2. The portfolio may invest in European securities where the issuers have their registered office or exercise the predominant part of their economic activities in Europe. A significant deterioration of the European debt crisis could have a

significant adverse impact on some of the Portfolios investments.

3. Invest in emerging markets is subject to higher volatility and higher risks (e.g. liquidity risk, currency risk, political risk, regulatory risk and economic risk).

4. Investment in the portfolio may also involve fixed-income securities risks, illiquid assets risk, country risk, management risk, credit risks and Eurozone risk. Exposure to lower rated and unrated instruments can subject the Portfolio to greater risk of loss of principal and interest than higher-rated securities. The value of the portfolio can be volatile and can go down substantially within a short period of time. It is possible that the entire value of your investment in the portfolio can be lost.

5. The portfolio is entitled to use financial derivative instruments for hedging and efficient portfolio management purposes which may involve additional risks. In adverse situations, the portfolios use of derivative instruments may become

ineffective in hedging or efficient portfolio management and the portfolio may suffer significant losses.

6. Dividends may be paid from capital or effectively out of the capital of the Portfolio, which may amount to a partial return or withdrawal of an investors original investment or from any capital gains attributable to that original investment and result in an immediate decrease of the Net Asset Value per Share. ()

7. Investors should not rely on this document alone to make investment decisions.

EIPDYIENCHHK0119 (Issue date of this document : 02/11/2019)

Class AA shares, SGD-Hedged^ (ISIN: LU1035781167) AA^

Class AA shares, AUD-Hedged^ (ISIN: LU1008671098) AA^

Month

NAV (SGD) ()

DIV (SGD) ()

Annualized Yield

Month

NAV (A$) ()

DIV (A$) ()

Annualized Yield

01/31/2019 12.72 0.0774 7.30% 01/31/2019 12.81 0.0792 7.42% 12/31/2018 12.56 0.0834 7.97% 12/31/2018 12.66 0.0868 8.23% 11/30/2018 12.61 0.0791 7.53% 11/30/2018 12.70 0.0868 8.20% 10/31/2018 12.81 0.0791 7.41% 10/31/2018 12.90 0.0868 8.07% 09/28/2018 12.97 0.0791 7.32% 09/28/2018 13.07 0.0868 7.97% 08/31/2018 13.03 0.0791 7.28% 08/31/2018 13.13 0.0868 7.93% 07/31/2018 13.12 0.0791 7.23% 07/31/2018 13.23 0.0868 7.87% 06/29/2018 13.08 0.0791 7.26% 06/29/2018 13.19 0.0868 7.90% 05/31/2018 13.16 0.0791 7.21% 05/31/2018 13.27 0.0868 7.85% 04/30/2018 13.42 0.0791 7.07% 04/30/2018 13.52 0.0868 7.70% 03/29/2018 13.46 0.0746 6.65% 03/29/2018 13.56 0.0840 7.43% 02/28/2018 13.48 0.0746 6.64% 02/28/2018 13.59 0.0840 7.42%

Class AA shares, HKD-Hedged^ (ISIN: LU1069347893) AA^

Month

NAV (HKD) ()

DIV (HKD) ()

Annualized Yield

01/31/2019 84.98 0.5156 7.28% 12/31/2018 83.93 0.5331 7.62% 11/30/2018 84.19 0.5331 7.60% 10/31/2018 85.56 0.5331 7.48% 09/28/2018 86.59 0.5331 7.39% 08/31/2018 87.02 0.5331 7.35% 07/31/2018 87.65 0.5331 7.30% 06/29/2018 87.33 0.4972 6.83% 05/31/2018 87.87 0.4972 6.79% 04/30/2018 89.58 0.4972 6.66% 03/29/2018 89.82 0.4972 6.64% 02/28/2018 90.03 0.4972 6.63%

The calendar year performance for AB - European Income Portfolio: Class AA, EUR 5.13% (2014), 0.20% (2015), 5.11% (2016), 3.40% (2017), -2.71% (2018) and 1.68% (2019 YTD). Source: AllianceBernstein (AB), calculated on an NAV-to-NAV basis with dividend reinvested, in EUR, as of 31 January 2019. Inception Date for Class AA (EUR): 9 January 2014. - AA5.13%2014 0.20%20155.11%20163.40%2017-2.71%20171.68%2019AB2019131AA201419 ^ Currency-hedged share classes use hedging techniques in an attempt to reducebut not eliminatefluctuations between the investors holdings in a particular currency-hedged share class denominated in the investors investing currency and the portfolios base currency. The goal is to deliver returns that track the portfolios 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. ^ AB FCP I - European Income Portfolio is part of AB FCP I (referred to as AB). AB is a mutual investment fund (fonds commun de placement) organized under the laws of the Grand Duchy of Luxembourg. Prior to 5 February 2016, ABs legal name was ACMBernstein, its trading name was AllianceBernstein. This information is directed solely at persons in jurisdictions where the funds and relevant share class are registered or who may otherwise lawfully receive it. Before investing, investors should review the funds full prospectus, together with the funds Product Key Facts and the most recent financial statements. Copies of these documents, including the latest annual report and, if issued thereafter, the latest semi-annual report, may be obtained free of charge from www.abfunds.com.hk or by contacting the local distributor in the jurisdictions in which the funds are authorized for distribution. - AB FCP I (fonds commun de placement)AB FCP I201625ACMBernsteinAllianceBernstein www.abfunds.com.hk Past performance is no guarantee of future results. Total returns, provided by AB, include the change in Net Asset Value and reinvestment of any distributions paid on portfolio shares for the period shown, but do not reflect sales charges. Shares of the portfolio are offered only pursuant to the portfolios current Prospectus together with the most recent financial statements. AB Investment RisksInvestment in the Fund entails certain risks. Investment returns and principal value of the Fund will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost. Dividends are not paid for all share classes and are not guaranteed. The Fund is meant as a vehicle for diversification and does not represent a complete investment program. Returns denominated in a currency other than the base currency of the fund may increase or decrease as a result of foreign exchange currency fluctuations. The Portfolio is denominated in Euro. Non-Euro based investors may therefore be subject to the risk of an unfavorable change in the rate of exchange between the Euro and the relevant currency. These and other risks are described in the Funds prospectus. Prospective investors should read the prospectus including risk factors carefully and discuss risk and the funds fees and charges with their financial adviser to determine if the investment is appropriate for them.

Source: AB, as of 31 January 2019. AB2019131 This document has not been reviewed by the Securities and Futures Commission. The issuer of this document is AllianceBernstein Hong Kong Limited.

2019 AllianceBernstein L.P. 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. 2019 AllianceBernstein L.P. [A/B] AllianceBernstein AllianceBernsteinAllianceBernstein L.P.

Jan 20191

All data as of 31/01/2019

AB - European Income Portfolio

* **

Important Information 1 The portfolio may invest in European securities where the issuers have their registered office or exercise the predominant part of their economic activities in Europe. A significant deterioration of

the European debt crisis could have a significant adverse impact on some of the Portfolios investments.

2 Invest in emerging markets is subject to higher volatility and higher risks (e.g. liquidity risk, currency risk, political risk, regulatory risk and economic risk).

3 Investment in the portfolio may also involve fixed-income securities risks, illiquid assets risk, country risk, management risk, credit risks and eurozone risk. Exposure to lower rated and unratedinstruments can subject the Portfolio to greater risk of loss of principal and interest than higher-rated securities. The value of the portfolio can be volatile and can go down substantially within ashort period of time. It is possible that the entire value of your investment in the portfolio can be lost.

4 The portfolio is entitled to use financial derivative instruments for hedging and efficient portfolio management purposes which may involve additional risks. In adverse situations, the portfolio's useof derivative instruments may become ineffective in hedging or efficient portfolio management and the portfolio may suffer significant losses.

5 Dividends may be paid from capital or effectively out of the capital of the Portfolio, which may amount to a partial return or withdrawal of an investors original investment or from any capital gainsattributable to that original investment and result in an immediate decrease of the Net Asset Value per Share.()

6 Investors should not rely on this document alone to make investment decisions.

Portfolio Objective/ Strategy/ Key Features / / The Portfolio seeks to achieve a high current income with the potential for capital appreciation byinvesting in a diversified portfolio of Euro- or European currency-denominated investment grade andnon-investment grade fixed income securities. The Portfolio may invest up to 50% of its total assets insecurities that are rated below investment grade. In evaluating securities, the Investment Managerutilizes its internal credit analysis resources as well as financial and economic information obtained fromother sources.

50%

Portfolio Composition^ ^

Top 5 Sectors^^ ^^Corporates - Non-Investment Grade

44.01%

Global Governments 41.80%

Corporates - Investment Grade 12.54%

Cash Equivalents 1.77%

Country Allocation Germany 26.44%France 11.33%United Kingdom 11.22%Spain 10.65%Italy 10.51%Other 29.85%

Net Currency Exposure Euro 100.00%

Credit Quality^^ ^^AAA 23.81%AA 6.63%A 13.12%BBB 17.33%BB 20.71%B 15.35%CCC & BelowCCC 1.71%Other 1.34%

^ Holdings are expressed as a percentage of total investments and may vary over time.

^^ All ratings are based on ratings of S&P, Moodys and Fitch. Sector Allocation/High Yield uses a split to lower with two differentratings (and a split to middle for three ratings); Credit Quality uses a split to higher./

Excludes offsets.

1. As a percentage of purchase price for Classes A, A2, AA and AT only. A , A2 , AA AT

2. As an annual percentage of average daily Net Asset Value.

Profile Domicile

Luxembourg

Inception Date

26/02/1999Class A EUR A

Fiscal Year End

31 August8 31

Net Assets

2,275.15 Million

Subscription/Redemption/

Daily

Base Currency

EUR

Reporting Currencies

USD

Currency HedgedShare Classes

AUD, USD, SGD, HKD

Average Duration (Years) ()

4.75

Average Credit Quality

BBB+

Initial Sales Charge1

1Up to 5.00%Class A, A2, AA & AT

Management Fee2

21.10%

Management CompanyFee2

20.10%

Total No. Of Holdings

226

Portfolio ManagementTeam

Scott DiMaggio, CFAJorgen KjaersgaardJohn Taylor

For fees applicable to other share classes, please refer to the offeringdocuments for details.

Offering documents can bedownloaded here::

English

Jan 20191

All data as of 31/01/2019

Top 10 Holdings

Holding Bundesrepublik Deutschland 97 6.50%, 7/04/27 22.43%French Republic Govt Bond OAT 8.50%, 4/25/23 6.28%Spain Govt Bond 5.90%, 7/30/26 2.89%Italy Buoni Poliennali Del Tesoro 7.25%, 11/01/26 2.16%Italy Buoni Poliennali Del Tesoro 9.00%, 11/01/23 1.97%UniCredit 6.95%, 10/31/22 1.72%Spain Govt Bond 6.00%, 1/31/29 1.45%Spain Govt Bond 5.15%, 10/31/44 1.27%Spain Govt Bond 5.75%, 7/30/32 1.13%INEOS Group Holdings 5.375%, 8/01/24 1.06%

Total 42.36%

Calendar Year Returns %

-5

0

5

10

2014 2015 2016 2017 2018 2019 YTD

2014 2015 2016 2017 2018 2019 YTD

Class A EURA

5.79 0.27 5.05 3.51 -2.63 1.66

Cumulative Total Returns %

1 Year

3 Year

5 Year

10 Year

SinceInception

Class A EURA

-1.47 7.71 12.97 113.71 100.74

Please refer to Profile section for Inception Date of Class A - EUR. A Source: AllianceBernstein (AB), calculated on an NAV-to-NAV basis, with dividend reinvested, in Euros.AB

Past performance is no guarantee of future results. Total returns, provided by AB, include the change in net assetvalue and reinvestment of any distributions paid on Portfolio shares for the period shown, but do not reflect salescharges. The information on this page is for information purposes only and should not be construed as an offer tosell, or solicitation of an offer to buy, or a recommendation for the securities of the Portfolio.

AB

*Fitch Fund Quality Rating provides an in-depth assessment of a funds key attributes and consistency of longer-term returns relative to its peer group and/or benchmarks. Ratings are as follows from highest to lowest: Excellent,Strong, Satisfactory, Weak, Inadequate, Qualifying. Past performance is no guarantee of future results.***BENCHMARK. Past performance is no guarantee of future results. Benchmark-Euro Fixed Income award isbased on class AT (EUR) of the portfolio, with performance as of end September 2013 and the award is not arecommendation to purchase, sell or hold any interest in the Portfolio.**- AT 2013 9 30

NAV, Yield & Dividend Information (as of 31/01/2019)

2019 01 31

A, AT & AA share classes below intend to declare and pay dividends. Dividendamount/distribution rate is not guaranteed and may be paid from capital of thePortfolio. (See Important Information 5)Annualized yield is calculated with the following formula: monthly dividend ofthe month x 12 / ex-dividend price of the month x 100. Positive distribution yielddoes not imply positive return. The historical data provided below are forinformation purposes only and do not imply prospective yields of the Portfolio.

A, AT AA ( 5) x 12 / x 100

NAV

Yield

Dividend Bloomberg ISIN

Class A EURA 6.74 3.58 0.0201 ACMEIAI:LX LU0095025721

Class AT EURAT 6.74 3.58 0.0201 ACMEIAT:LX LU0173638916

Class AT USD(H)AT 14.67 6.44 0.0787 ABEATUH:LX LU0539802446

Class AT AUD(H)AT 14.65 6.03 0.0736 ABEATAH:LX LU0539801802

Class AT SGD(H)AT 13.69 5.92 0.0675 ABATSGH:LX LU1035781084

Class AA EURAA 12.84 4.96 0.0531 ABEIAAI:LX LU1008670876

Class AA AUD(H)AA 12.81 7.42 0.0792 ABEAAUD:LX LU1008671098

Class AA USD(H)AA 12.89 7.83 0.0841 ABEAUSD:LX LU1013768186

Class AA SGD(H)AA 12.72 7.30 0.0774 ABASGHI:LX LU1035781167

Class AA HKD(H)AA 84.98 7.28 0.5156 AEIAAHK:LX LU1069347893

Class A2 EURA2 19.92 - - ACMEIRI:LX LU0095024591

Class A2 USD(H)A2 17.01 - - AEIA2UH:LX LU1113143496

Class A2 SGD(H)A2 16.62 - - AEIA2SH:LX LU1165979425

Overall Morningstar Rating is a copyright of Morningstar, Inc., 2019. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is notwarranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.Morningstar rates funds from one star to five stars based on how well the funds have performed (after adjusting for risk) in comparison to similar funds. Within each Morningstar Category, the top 10% of funds receive five stars, the next22.5% four stars, the middle 35% three stars, the next 22.5% two stars, and the bottom 10% receive one star. Funds are rated for up to three time periods, in three years, five years, and ten years, and these ratings are combined to producean overall rating. Funds with less than three years of history are not rated. Ratings are objective, based entirely on a mathematical evaluation of past performance. They are a useful tool for identifying funds worthy of further research, butshould not be considered buy or sell recommendations. Overall Morningstar Rating 2019 (1)(2)(3) 10% 22.5 35 22.5 10% Currency-hedged share classes use hedging techniques in an attempt to reducebut not eliminatefluctuations between the investors holdings in a particular currency-hedged share class denominated in the investors investing currencyand the portfolios base currency. The goal is to deliver returns that track the portfolios base currency returns more closely. Stand-alone currency symbols represent convenience pricing, which offers the ability to purchase or redeem sharesusing the currency indicated, which is then converted into the base currency of the portfolio using a market rate at the time of purchase or redemption. Convenience pricing involves no currency hedging and does not seek to provide anyprotection from currency fluctuations. Investment in the Fund entails certain risks. Investment returns and principal value of the Fund will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost. Dividends are not paid for all shareclasses and are not guaranteed. The Fund is meant as a vehicle for diversification and does not represent a complete investment program. Returns denominated in a currency other than the base currency of the fund may increase or decreaseas a result of foreign exchange currency fluctuations. The Portfolio is denominated in Euro. Non-Euro based investors may therefore be subject to the risk of an unfavorable change in the rate of exchange between the Euro and the relevantcurrency. These and other risks are described in the Funds prospectus. Prospective investors should read the prospectus including risk factors carefully and discuss risk and the funds fees and charges with their financial adviser to determineif the investment is appropriate for them.This information is directed solely at persons in jurisdictions where the funds and relevant share class are registered or who may otherwise lawfully receive it. Before investing, investors should review the funds full prospectus, togetherwith the funds Product Key Facts and the most recent financial statements. Copies of these documents, including the latest annual report and, if issued thereafter, the latest semi-annual report, may be obtained free of charge fromwww.abfunds.com.hk or by contacting the local distributor in the jurisdictions in which the funds are authorized for distribution. www.abfunds.com.hk The Portfolio is part of AB FCP I (referred to as AB). AB is a mutual investment fund (fonds commun de placement) organized under the laws of the Grand Duchy of Luxembourg. Prior to 5 February 2016, ABs legal name was ACMBernstein,its trading name was AllianceBernstein. AB FCP I (fonds commun de placement) AB FCP I 2016 2 5 ACMBernstein AllianceBernsteinThis document is issued by AllianceBernstein Hong Kong Limited and has not been reviewed by the Securities and Futures Commission.2019 AllianceBernstein L.P. 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.2019 AllianceBernstein L.P. [A/B] AllianceBernstein AllianceBernstein AllianceBernstein L.P.

PRODUCT KEY FACTS AB FCP I

AllianceBernstein (Luxembourg) S. r.l. European Income Portfolio October 2018

This statement provides you with key information about this product. This statement is a part of the offering document.

You should not invest in this product based on this statement alone.

Quick facts Management Company: AllianceBernstein (Luxembourg) S. r.l. Investment Manager: AllianceBernstein L.P. (internal delegation, U.S. Delaware) Depositary: Brown Brothers Harriman (Luxembourg) S.C.A. Dealing frequency: Daily Base currency: Euro Dividend policy: (i) For Classes A, B and C Shares:

Aims to declare daily and pay monthly or be reinvested as elected by investor*

(ii) For Classes AA, AT, BA, BT, IT and IA Shares (and corresponding H Shares) and Classes CT USD H Shares: Aims to declare and pay monthly or be reinvested as elected by investor*

*Dividends may be paid out of capital or effectively out of capital and reduce the Portfolios Net Asset Value (iii) For Classes A2, B2, C2 and I2 Shares (and corresponding H Shares):

None Financial year end of this Portfolio: 31 August Ongoing charges over a fiscal year:

Classes AA and A2 Shares (and corresponding H Shares)

Classes A, AT (and corresponding H Shares), AA HKD H, AA SGD H and A2 USD H Shares

Class AT GBP H Shares

1.37% 1.36% 1.41% Classes B, BA, B2 and BT Shares (and corresponding H Shares)

Classes C and C2 USD H Shares

Class C2 Shares

2.06% 1.82% 1.79% Class CT USD H Shares Classes IA, I2 and IT

Shares (and corresponding H Shares)

Class IT SGD H Shares

1.85% 0.82% 0.83% Class I2 AUD H Shares Class IT USD H Shares 0.81% 0.86%

Min. investment*: Initial Additional Classes A, AA, A2, AT, B, BA, B2, BT, C and C2 Shares (and corresponding H Shares) and Class CT USD H Shares

EUR2,000 | USD2,000 | AUD2,000 GBP 2,000 | SGD3,000 | HKD15,000

EUR750 | USD750 | AUD750 GBP 750 | SGD1,000 | HKD5,000

Class I2, IT and IA Shares (and corresponding H Shares)

EUR1 million | USD1 million AUD1 million | SGD1.5 million HKD 8 million

None

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AB FCP I European Income Portfolio

Unless otherwise specified. The ongoing charges figure is based on expenses for the year ended 31 August 2017. This figure may vary from year to year. The ongoing charges figure is an annual figure calculated by adding the applicable charges and payments deducted from the assets of the Portfolio and then dividing by the Portfolio's average Net Asset Value for the fiscal year attributable to the relevant share class. The ongoing charges figure of this share class is an estimated figure. The ongoing charges of this share class have been capped at this figure and, accordingly, the excess over such figure as at the Funds fiscal year end will be borne by the Management Company. The ongoing charges of this share class have been capped at this figure and, accordingly, the excess over such figure as at the Funds fiscal year end has been borne by the Management Company. *Different minimum, additional and maximum investment limits may apply to different classes of shares denominated in different currencies. Investors should refer to the offering document of the Fund for details. Effective 15 December 2016, Classes B, BA, B2 and BT Shares (and corresponding H Shares) are no longer open for subscription by new and existing investors. However, investors may request the exchange of their holdings of Classes B, BA, B2 and BT Shares (and corresponding H Shares) for the same share class of another AB-sponsored Luxembourg-domiciled UCITS fund authorised in Hong Kong for retail distribution or otherwise available through an AB authorised dealer in Hong Kong.

What is this product?

The European Income Portfolio (the "Portfolio") is a portfolio of AB FCP I (the "Fund"), a mutual investment fund domiciled in Luxembourg and its home regulator is Commission de Surveillance du Secteur Financier.

Objectives and Investment Strategy Objectives The investment objective of the Portfolio is to achieve high total return by maximizing current income and, to the extent consistent with that objective, capital appreciation.

Strategy The Portfolio invests in a diversified portfolio of Euro- or European currency-denominated investment-grade and non investment grade fixed-income securities of European companies and governments. The Investment Manager will invest at any time at least two-thirds of the Portfolio's total assets in securities of European companies and governments. The Portfolio may also invest up to one third of the portfolio in Euro- or European currency-denominated fixed-income securities of non-European issuers. The Portfolio has no limitation as to the amount of its total assets that may be invested in a single country or a single industry. The Portfolio may invest up to 25% of its total assets in newly developing markets that are not Investment Grade (as defined in the Prospectus of the Fund) rated. The Investment Manager expects that approximately 65% of the Portfolio's total assets will be invested in Investment Grade fixed-income securities, with approximately 35% in securities rated below Investment Grade. However, if the Investment Manager deems such investments appropriate, the Portfolio may invest up to 50% of its total assets in securities that are rated below-investment grade. The Portfolio may seek to hedge against securities market and currency fluctuations through the use of listed futures and options, and OTC derivative instruments, including swaps, options and currency transactions.

The Portfolio is entitled to use financial derivative instruments for hedging, risk management, efficient portfolio management and investment purposes. These financial derivative instruments may include, but are not limited to, swaps, options and currency transactions. These financial derivative instruments will not extensively be invested in for investment purposes.

What are the key risks? Investment involves risks. Please refer to the offering document for details including the risk factors.

1. Risk in investing in financial derivative instruments

The Portfolio is entitled to use financial derivative instruments for hedging and efficient portfolio management purposes, which may involve additional risks. In adverse situations, the Portfolios use of derivative instruments may become ineffective in hedging or efficient portfolio management and the Portfolio may suffer significant losses.

2. Credit Risks - General

The Portfolio will invest in fixed-income securities (including bonds) issued by companies and other entities and the Portfolio will be subject to the risk that a particular issuer may not fulfill its payment or other obligations in respect of such fixed-income securities.

3. Credit Risk Downgrading Risk

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AB FCP I European Income Portfolio

The Portfolio will invest in fixed-income securities (including bonds). An issuer of such fixed-income securities may experience an adverse change in its financial condition which may in turn result in a decrease in the credit rating assigned by an internationally recognized statistical ratings organization to such issuer and fixed-income securities issued by such issuer. Credit ratings of fixed-income securities reflect the issuer's ability to make timely payments of interest or principalthe lower the rating, the higher the risk of default. The adverse change in financial condition or decrease in credit rating(s) of issuer may result in increased volatility in, and adverse impact on, the price of the relevant fixed-income security and negatively affect liquidity, making any such fixed-income security more difficult to sell.

4. Credit Risk - Sovereign Debt Obligations

The Portfolio will be exposed to the direct or indirect consequences of political, social and economic changes in various countries by investing in the bonds of governmental entities. These political, social and economic changes in a particular country may affect a particular government's willingness to make or provide for timely payments of its debt obligations. The Portfolio may suffer significant losses when there is a default of sovereign debt issuers.

5. Fixed Income Securities Risk - Interest Rates

The Portfolio invests in fixed-income securities where its value will generally vary inversely with changes in interest rates and may affect the net asset value of the Portfolio. As interest rates rise, fixed-income securities prices generally fall and vice versa. Prices of longer-term securities tend to rise and fall more than short-term securities.

6. Fixed Income Securities Risk - Lower Rated and Unrated Instruments

The Portfolio will invest in high yield, high risk fixed-income securities (including bonds) that are rated in the lower rating categories (i.e. below Investment Grade) or which are unrated. Fixed-income securities below investment grade are considered to be subject to greater risk of loss of principal and interest than higher-rated securities and are considered to be predominantly speculative with respect to the issuer's capacity to pay interest and repay principal, which may in any case decline during sustained periods of deteriorating economic conditions or rising interest rates. The market for lower-rated securities may be thinner and less active than that for higher-quality securities, which can adversely affect the prices at which these securities can be sold. As a result the Portfolio, and thus the investors of the Portfolio, may suffer losses.

7. Fixed Income Securities Risk - General

The Portfolio will invest in fixed-income securities, the value of which will change in response to fluctuations in interest rates and currency exchange rates, as well as changes in credit quality of the issuer.

8. Illiquid Assets Risk

The difficulty of purchasing or selling a security at an advantageous time or price, which may have a negative impact on the portfolio's performance.

9. Country Risk - General

The Portfolio may invest in securities of issuers located in various countries and geographic regions (in this Portfolios case, European countries comprising Western, Central and Eastern Europe both European Union and non European Union members, as well as Turkey). The economies of individual countries may differ favorably or unfavorably from each other in such respects as growth of gross domestic product or gross national product, rate of inflation, capital reinvestment, resource self-sufficiency and balance of payments position. Nationalization, expropriation or confiscatory taxation, currency blockage, political changes, government regulation, political or social instability or diplomatic developments could affect adversely the economy of a country or a portfolio's investments in such country.

10. Country Risk - Emerging or Developing Markets

The Portfolio may invest in emerging or developing markets, which are subject to higher risks (for example, liquidity risk, currency risk, political risk, regulatory risk and economic risk) and higher volatility than portfolios investing in developed market. 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.

11. Eurozone Risk

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AB FCP I European Income Portfolio

The Portfolio may invest in European securities where the issuers have their registered office or exercise the predominant part of their economic activities in Europe. The value of such European securities may be affected by the market, currency, economic, and political conditions in Europe. In light of the current fiscal conditions and concerns over the sovereign debt risk of certain European countries, there is an increased amount of volatility, liquidity, price and foreign exchange risk associated with investments in Europe. There is the possibility that the economic and financial difficulties in Europe may continue to get worse or spread within and outside Europe and that the measures taken by the relevant government or authorities may not work and may have adverse consequences. A significant deterioration of the European debt crisis could have a significant adverse impact on some of the Portfolios investments and thus adversely affect the overall value of the Portfolio.

12. Management Risk

The Portfolio may be subject to management risk because it is an actively managed investment fund. The Investment Manager will apply its investment techniques and risk analyses in making investment decisions for the Portfolio, but there can be no guarantee that its decisions will produce the desired results.

13. Risks associated with payment of dividends out of capital

The Management Company has the sole and absolute discretion to amend the dividend policy, subject to the SFCs prior approval and by giving no less than one months prior notice to investors. Dividend yield is not indicative of return of the Portfolio. Dividends may be paid from capital or effectively out of the capital of the Portfolio at the discretion of the Management Company, which may amount to a partial return or withdrawal of an investors original investment or from any capital gains attributable to that original investment, and result in an immediate decrease of the Net Asset Value per Share.

How has the Portfolio performed? The bar chart below shows the past performance of Class AT Shares, which has been designated as the representative share class by the Management Company as it is a focus share class made available to Hong Kong investors.

Portfolio launch year: 1999 Class AT Shares launch year: 2003

Past performance information is not indicative of future performance. Investors may not get back the full amount invested. The computation basis of the performance is based on the calendar year end, NAV-to-NAV, with dividend reinvested. These figures show by how much Class AT Shares have increased or decreased in value during the calendar year being

shown. Performance data has been calculated in EUR including ongoing charges and excluding any subscription fee and redemption

fee you might have to pay.

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AB FCP I European Income Portfolio

Is there any guarantee? This Portfolio does not have any guarantees. You may not get back the amount of money you invest. What are the fees and charges? (Different fee structure apply to different classes of shares. Investors should refer to the offering document of the Fund for details.)

Charges which may be payable by you You may have to pay the following fees when dealing in the shares of the Portfolio: Fee What you pay Subscription fee (Initial Sales Charge)

Classes A, AA, A2 and AT Shares (and corresponding H Shares): up to 5% of the purchase price Classes I2, IT and IA Shares (and corresponding H Shares): up to 1.5% of the purchase price Not applicable to other Share Classes

Switching fee+ Not Applicable Redemption fee Not Applicable Contingent Deferred Sales Charge Classes B, BA, B2 and BT Shares (and corresponding H Shares): Where

applicable up to 3% (depending on years held) of the lesser of the current Net Asset Value or original cost of the Shares being redeemed Classes C and C2 Shares (and corresponding H Shares) and Class CT USD H Shares: Where applicable up to 1% (depending on years held) of the lesser of the current Net Asset Value or original cost of the Shares being redeemed Not applicable to other Share Classes

+Any additional fees charged by distributors may still apply.

Ongoing fees payable by the fund The following expenses will be paid out of the Portfolio. They affect you because they reduce the return you get on your investments. Fee What you pay Management fee* Classes A, AA, A2, AT, B, BA, B2 and BT Shares (and corresponding H

Shares): 1.10% Classes C and C2 Shares (and corresponding H Shares) and Class CT USD H Shares: 1.55% Classes I2, IT and IA Shares (and corresponding H Shares): 0.55%

Depositary fee*

Up to 1.00% Administration fee payable to the Administrator* Transfer Agent fee* Performance fee Not Applicable Distribution fee* Classes B, BA, B2 and BT Shares (and corresponding H Shares): 0.70%

Not applicable to other Share Classes Administration fee payable to the Management Company*

All Share Classes (and corresponding H Shares): 0.10%

*Percentage per annum of Net Asset Value

Other fees

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AB FCP I European Income Portfolio

You may have to pay other fees when dealing in the shares of the Portfolio.

Additional Information You may generally buy and redeem shares at the Portfolio's next-determined Net Asset Value plus any applicable charges

after the Management Company receives your request in good order on or before 4:00 P.M. U.S. Eastern Time on each Business Day (business day of both New York Stock Exchange and Luxembourg banks) for Euro-denominated share classes, or on or before 6:00 P.M. Central European Time on each Business Day (business day of both New York Stock Exchange and Luxembourg banks) for currency hedged share classes, each time being the order cut-off time. Investors should note that, for applications sent through a Hong Kong distributor, such distributor may have an earlier cut-off time.

The Net Asset Value of the Portfolio is calculated on each Business Day and will be available on the following website www.alliancebernstein.com.hk or alternatively, you may contact AllianceBernstein Hong Kong Limited (as the Hong Kong Representative of the Fund) at +852 2918 7888.

Investors may obtain the past performance information of other share classes offered to Hong Kong investors from www.alliancebernstein.com.hk.

The compositions of the dividends (i.e., the relative amounts paid out of (i) net distributable income and (ii) capital) for the most recent 12 months can be obtained from the Investment Manager and the Hong Kong Representative on request. The compositions of the dividends will also be available at: www.alliancebernstein.com.hk.

Important If you are in doubt, you should seek professional advice. The SFC takes no responsibility for the contents of this statement and makes no representation as to its accuracy or completeness. The website www.alliancebernstein.com.hk has not been reviewed by the SFC and may contain information on funds not authorised by the SFC.

AllianceBernstein (Luxembourg) S. r.l.

2018 10

AllianceBernstein (Luxembourg) S. r.l.

AllianceBernstein L.P.

Brown Brothers Harriman (Luxembourg) S.C.A.

(i) A B C

*

(ii) AA AT BA BT IT IA H

CT H

*

*

(iii) A2 B2 C2 I2 H

8 31

AA A2

H

A AT

H AA

H AA H

A2 H

AT H

1.37% 1.36% 1.41%

B BA B2

BT

H

C C2 H

C2

2.06% 1.82% 1.79%

CT H IA I2 IT

H

IT H

1.85% 0.82% 0.83%

I2 H IT H

0.81% 0.86%

*

A AA A2 AT B

BA B2 BT C C2

H CT H

2,000 | 2,000 | 2,000 |

2,000 | 3,000 | 15,000

750 | 750 | 750 | 750

|1,000 | 5,000

- 2 -

I2 IT IA H

1,000,000 | 1,000,000

1,000,000 | 1,500,000

8,000,000

2017 8 31

*

2016 12 15 B BA B2 BT H

B BA B2 BT H

UCITS

AB FCP I

Commission de Surveillance du Secteur Financier

25%

65%35%

50%

1.

2.

3.

- 3 -

4.

5.

6.

7.

8.

9.

10.

11.

12.

13.

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AT

AT

A AA A2 AT H

5%

I2 IT IA H 1.5%

1999

AT 2003

- 5 -

+

B BA B2 BT H

3%

C C2 H CT H

1%

+

* A AA A2 AT B BA B2 BT

H 1.10%

C C2 H CT H 1.55%

I2 IT IA H 0.55%

*

1.00%*

*

* B BA B2 BT H 0.70%

* H 0.10%

*

www.alliancebernstein.com.hk +852 2918 7888

www.alliancebernstein.com.hk

12 (i)(ii) www.alliancebernstein.com.hk

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www.alliancebernstein.com.hk