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AllianceBernstein Income Fund, Inc. Message Board

  • ootkatoo ootkatoo Mar 14, 2000 3:10 PM Flag

    Why the discount to NAV ?

    This fund normally trades near the NAV or at
    a
    small premium. Last Dec it went to a big
    discount ..
    OK, tax-selling .. then it
    recovered.

    But
    now it's sliding down again, NAV isn't
    changing
    much, just the discount to NAV

    What gives ??

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • to .065 cents per month which caused it to drop
      from near $8 to near $6.50. At about the same time the
      BOD announced that they were going to buy back stock
      in ACG, GSF, SI and one other CEF in an effort to
      increase shareholder value. As you probably know, these
      funds are managed by Alliance Capital(AC), and in my
      opinion they could care less about CEF shareholders. They
      take a fat management fee based on the NAV of these
      funds and that is where their concern starts and stops.
      They provide no customer service and have nobody that
      is informed to talk with. Remember these CEF's trade
      like stocks so their sales people can't earn
      commissions on them like they do on their open end funds.
      I'll say it again, Alliance Capital just takes and
      takes from these funds and gives nothing back in return
      to the shareholdere, not even feedback on the
      progression of the buyback.

      Try talking to them
      sometime and see if you can find one intelligent being.
      The telephone number is 800 221 5672. Good luck.

 
ACG
7.240.00(0.00%)Apr 15 4:11 PMEDT

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