SUP-MULTI-1218II
Each of the funds listed above is hereinafter referred to as a “Fund” or, collectively, the “Funds”.
Supplement dated December 28, 2018 to the following Prospectuses and Summary Prospectuses, as amended:
| Prospectus | Date | |
| All China Equity |
July 25, 2018 | |
| Bond Funds | January 31, 2018 | |
| Corporate Shares | August 31, 2018 | |
| EMMA | July 31, 2018 | |
| Equity Funds | October 31, 2018 | |
| AB FlexFeeTM High Yield Portfolio | February 26, 2018 | |
| AB FlexFeeTM International Bond Portfolio | April 30, 2018 | |
| AB FlexFeeTM International Strategic Core Portfolio and AB FlexFeeTM Emerging Markets Growth Portfolio | April 30, 2018, as revised June 11, 2018 | |
| AB FlexFeeTM Large Cap Growth Portfolio and AB FlexFeeTM US Thematic Portfolio | April 30, 2018 | |
| Government Money Market | August 31, 2018 | |
| Inflation Strategies | January 31, 2018 | |
| Institutional Funds | January 31, 2018 | |
| Municipal Portfolios | September 28, 2018 | |
| Select Retirement Funds | November 30, 2018 | |
| Value Funds | February 28, 2018 |
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Effective January 1, 2019, the Prospectuses and Summary Prospectuses are amended as follows:
Add the following disclosure at the bottom of the front cover page of the Fund’s Prospectus and immediately below the legend on the front cover page of the Fund’s Summary Prospectus:
Beginning January 1, 2021, as permitted by new regulations adopted by the Securities and Exchange Commission, the [Fund’s/Portfolio’s] annual and semi-annual shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website address to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from the [Fund/Portfolio] electronically at any time by contacting your financial intermediary (such as a broker-dealer or bank) or, if you are a direct investor, by calling the [Fund/Portfolio] at 800-221-5672.
You may elect to receive all future reports in paper form free of charge. If you invest through a financial intermediary, you can contact your financial intermediary to request that you continue to receive paper copies of your shareholder reports; if you invest directly with the [Fund/Portfolio], you can call the [Fund/Portfolio] at 800-221-5672. Your election to receive reports in paper form will apply to all funds held in your account with your financial intermediary or, if you invest directly, to all AB Funds you hold.
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This Supplement should be read in conjunction with the Prospectuses and Summary Prospectuses for the Funds.
You should retain this Supplement with your Prospectus(es) and Summary Prospectus(es) for future reference.
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.
SUP-MULTI-1218II
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