Alliance Bernstein Thematic Research Portfolio A

The investment objective of the Portfolio is to achieve long-term capital appreciation. The Portfolio pursues opportunistic growth by investing in aglobal universe of companies inmultiple industries that may benefit from innovation.The Investment Manager utilizes top-down research to find those secular themes that are the long-termdrivers of the market outlook across industries. The Manager also uses bottom-up research to identify the most attractive candidates—those with compelling earnings growth prospects and valuations that are aligned with the themes identified in top-down research.The result of this philosophy is a reiterative investment process where the top-down thematic outlook is validated by our bottom up research. It is the combination of the two research views that allowfor the conviction to capitalize on compelling investment opportunities that have the potential to add substantial return value.