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Alliancebernstein Income Fund Message Board

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  • ww_oracle ww_oracle Aug 16, 2001 5:08 AM Flag

    ACG Management Deception

    axzl, what is this thing you hold against Alliance CEF management? I've held ACG for years, and am mostly satisfied with its performance. (AWF I see as a investment vehicle to be traded as circumstances dictate.)

    As for checking with Value Line data, several months ago I went beyond that, and played Devil's Advocate in an argument with a VL analyst who vigorously endorsed ACG's management. (A key variable in ACG's earnings is the performance of - well, never mind, do your own homework.)

    GSF and SI I'm not familiar with. So I ask again, what's your beef?

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    • I used to own GSF & SI . they did not do too great ,but they were what they were, bond funds that fluctuated with the bond market.I bought them strictly for income or building of assets,by reinvesting.They did what I bought them to do. Apparently it was too slow for many people and their ownership decreased so that AC decided to merge them (they were vert much alike in what they owned. They had another bond fund,Very similar,(AGC) so using NAV of each, they merged the three. I don't know what anyone's bitchen about,if they had read the prospectus when they bought either entity, they'd see that it did what it was proported to do.

    • Your post shows your lack of homework and truthfullness. How could you possibly have held ACG for years and not be familiar with GSF and SI since very recently GSF and SI were merged into ACG? But since you challenged me, if you do some due diligence on your own you will find that ACG's NAV and market value have declined steadily for years and the fund has had dividend cuts in the past, the most recent being in March, 2000. Why they recently raised the dividend is beyond me since the fund obviously is not earning it, and Alliance has not continued to pay out more in the past than they earned in these funds.

      • 1 Reply to axzl
      • Lack of homework, O.K. Lack of truthfulness, only inadvertently....I did know that the other funds got merged into ACG, but there my knowledge of them ends. Is their pre-merger performance relevant? I know Alliance runs a number of funds with poor performance -- compared to ACG. ACG seems O.K.

        I haven't monitored the NAV particularly, just the stock price and payout. However, I expected these to fluctuate. Even so, ACG gives a lot better return than a savings account, with not much risk in safety! I do not hold ACG shares for capital appreciation.
        My opinion: If you bought expecting constantly growing double-digit returns, there is no guarantee here. For me, it was either ACG, or else start trading my own zero-coupon bonds, etc. (That's a hint in answer to your last question.)

 
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