AB Income Fund Releases Monthly Portfolio Update

NEW YORK, Jan. 26, 2016 /PRNewswire/ -- AB Income Fund, Inc. [NYSE: ACG] (the "Fund") today released its monthly portfolio update as of December 31, 2015.

AB Income Fund, Inc.
Top 10 Fixed Income Holdings	Portfolio %
1) U.S. Treasury Notes 3.625%, 2/15/21	18.91%
2) U.S. Treasury Bonds 6.25%, 5/15/30	18.56%
3) U.S. Treasury Bonds 6.375%, 8/15/27	18.49%
4) U.S. Treasury Bonds 6.50%, 11/15/26	15.10%
5) U.S. Treasury Notes 2.125%, 8/31/20 - 9/30/21	11.05%
6) U.S. Treasury Notes 3.125%, 5/15/21	5.96%
7) U.S. Treasury Bonds 3.125%, 8/15/44	4.60%
8) U.S. Treasury Bonds 8.75%, 8/15/20	3.05%
9) Residual Funding Corp. Principal Strip  Zero Coupon, 7/15/20	2.26%
10) U.S. Treasury Bonds 8.00%, 11/15/21	2.13%
Investment Type	Portfolio %
Global Governments	107.14%
Corporates - Non-Investment Grade
Industrial
Consumer Non-Cyclical	2.60%
Energy	2.19%
Communications - Media	1.89%
Communications - Telecommunications	0.91%
Basic	0.74%
Consumer Cyclical - Retailers	0.72%
Capital Goods	0.66%
Consumer Cyclical - Other	0.65%
Consumer Cyclical - Automotive	0.38%
Technology	0.35%
Transportation - Services	0.28%
Services	0.23%
Other Industrial	0.19%
Consumer Cyclical - Entertainment	0.15%
SUBTOTAL	11.94%
Credit Default Swaps	2.08%
SUBTOTAL	2.08%
Financial Institutions
Banking	1.39%
Other Finance	0.16%
Finance	0.08%
REITS	0.06%
SUBTOTAL	1.69%
Utility
Electric	0.71%
SUBTOTAL	0.71%
SUBTOTAL	16.42%
Collateralized Mortgage Obligations
GSE Risk Share Floating Rate	3.87%
Non-Agency Fixed Rate	1.69%
Agency Fixed Rate	0.20%
Non-Agency Floating Rate	0.18%
SUBTOTAL	5.94%
Corporates - Investment Grade
Industrial
Energy	0.92%
Communications - Telecommunications	0.75%
Basic	0.48%
Capital Goods	0.34%
Consumer Non-Cyclical	0.34%
Consumer Cyclical - Retailers	0.15%
Transportation - Airlines	0.09%
SUBTOTAL	3.07%
Financial Institutions
Insurance	1.50%
Banking	0.49%
SUBTOTAL	1.99%
Utility
Electric	0.21%
SUBTOTAL	0.21%
Credit Default Swaps	0.08%
SUBTOTAL	0.08%
SUBTOTAL	5.35%
Commercial Mortgage-Backed Securities
Non-Agency Fixed Rate CMBS	3.58%
Credit Default Swaps	1.31%
Non-Agency Floating Rate CMBS	0.24%
SUBTOTAL	5.13%
Agencies
Agency Debentures	4.16%
SUBTOTAL	4.16%
Emerging Markets - Sovereigns
Emerging Markets - Sovereigns	1.28%
Credit Default Swaps	0.44%
SUBTOTAL	1.72%
Whole Loan Trusts
Performing Asset	1.57%
SUBTOTAL	1.57%
Emerging Markets - Corporate Bonds
Industrial
Consumer Non-Cyclical	0.43%
Capital Goods	0.38%
Communications - Telecommunications	0.19%
Basic	0.18%
Consumer Cyclical - Retailers	0.14%
Transportation - Airlines	0.13%
SUBTOTAL	1.45%
SUBTOTAL	1.45%
Common Stocks	1.33%
Quasi-Sovereigns
Quasi-Sovereign Bonds	1.13%
SUBTOTAL	1.13%
Preferred Stocks
Financial Institutions	0.54%
Industrial	0.21%
SUBTOTAL	0.75%
Governments - Sovereign Agencies	0.48%
Local Governments - Municipal Bonds	0.39%
Currency Instruments
Forward Currency Exchange Contracts	0.31%
SUBTOTAL	0.31%
Bank Loans
Industrial
Basic	0.10%
Communications - Media	0.09%
Other Industrial	0.05%
Technology	0.01%
SUBTOTAL	0.25%
SUBTOTAL	0.25%
Asset-Backed Securities
Autos - Fixed Rate	0.13%
Other ABS - Fixed Rate	0.10%
SUBTOTAL	0.23%
Investment Companies
Funds and Investment Trusts	0.06%
SUBTOTAL	0.06%
Interest Rate Swaps	-31.86%
Interest Rate Futures	-46.01%
Reverse Repurchase Agreements	-55.17%
Net Cash Equivalents
Investment Companies	4.62%
Cash	-0.47%
SUBTOTAL	4.15%
Derivative Offsets
Futures Offsets	46.08%
Swaps Offsets	29.00%
SUBTOTAL	75.08%
	100.00%
Country Breakdown	Portfolio %
United States	91.05%
Brazil	2.09%
Mexico	1.01%
Canada	0.89%
Bermuda	0.80%
United Kingdom	0.41%
Luxembourg	0.39%
France	0.38%
Switzerland	0.30%
Indonesia	0.29%
Germany	0.26%
Spain	0.23%
India	0.23%
El Salvador	0.19%
Barbados	0.15%
Venezuela	0.14%
Jamaica	0.13%
Italy	0.11%
Netherlands	0.10%
Kenya	0.10%
Dominican Republic	0.10%
Angola	0.09%
Ivory Coast	0.08%
Pakistan	0.07%
Guatemala	0.06%
Ghana	0.06%
Sri Lanka	0.05%
Zambia	0.05%
South Africa	0.04%
Morocco	0.04%
Australia	0.03%
Norway	0.03%
Sweden	0.02%
Belgium	0.02%
Peru	0.01%
Total Investments	100.00%
Net Currency Exposure Breakdown	Portfolio %
United States Dollar	105.57%
Japanese Yen	3.71%
Chinese Yuan Renminbi	1.01%
New Zealand Dollar	0.02%
Mexican Peso	0.01%
Norwegian Krone	-0.02%
Australian Dollar	-0.03%
Brazilian Real	-0.08%
Canadian Dollar	-0.51%
Great British Pound	-0.98%
Singapore Dollar	-1.55%
Taiwan New Dollar	-3.04%
Euro	-4.11%
Total Net Assets	100.00%
Credit Rating	Portfolio %
AAA	55.81%
AA	0.07%
A	1.62%
BBB	10.89%
BB	8.49%
B	7.15%
CCC	2.35%
CC	0.27%
C	0.06%
D	0.41%
Not Rated	6.22%
Short Term Investments	4.62%
N/A	2.04%
	100.00%
Bonds By Maturity	Portfolio %
Less than 1 year	-48.53%
1 to 5 years	28.61%
5 to 10 years	52.28%
10 to 20 years	57.77%
20 to 30 years	7.72%
More than 30 years	0.82%
Other	1.33%
Total Net Assets	100.00%
Portfolio Statistics:
Average Coupon:	7.56%
Average Bond Price :	115.63
Percentage of Leverage (based on Gross Assets):
Bank Borrowing:	0.00%
Investment Operations:	38.94%*
Preferred Stock:	0.00%
Tender Option Bonds:	0.00%
VMTP Shares:	0.00%
Total Fund Leverage:	38.94%
Average Maturity:	13.80 Years
Effective Duration:	5.30 Years
Total Net Assets:	$1,695.96 Million
Net Asset Value:	$7.86
Number of Holdings:	476
Portfolio Turnover:	32%

* Investment Operations may include the use of certain portfolio management techniques such as credit default swaps, dollar rolls, negative cash, reverse repurchase agreements and when-issued securities.

The foregoing portfolio characteristics are as of the date indicated and can be expected to change. The Fund is a closed-end U.S.-registered management investment company advised by AllianceBernstein L. P.

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SOURCE AB Income Fund, Inc.

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