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Alliancebernstein Income Fund Message Board

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  • axzl axzl Mar 15, 2000 11:32 AM Flag

    Why the discount to NAV ?

    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.

7.910.00(0.00%)Apr 18 4:02 PMEDT