<SEC-DOCUMENT>0000919574-18-005703.txt : 20181108
<SEC-HEADER>0000919574-18-005703.hdr.sgml : 20181108
<ACCEPTANCE-DATETIME>20180816160459
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000919574-18-005703
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20180816

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB BOND FUND, INC.
		CENTRAL INDEX KEY:			0000003794
		IRS NUMBER:				132754393
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN BOND FUND INC
		DATE OF NAME CHANGE:	20030319

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE BOND FUND INC
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Bernstein Fund Inc
		CENTRAL INDEX KEY:			0001653463
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		212-969-10000

	MAIL ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB EQUITY INCOME FUND INC
		CENTRAL INDEX KEY:			0000910036
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		135 W 50TH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2013194105

	MAIL ADDRESS:	
		STREET 1:		ALLIANCE CAPITAL MANAGEMENT LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN EQUITY INCOME FUND INC
		DATE OF NAME CHANGE:	20100901

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN UTILITY INCOME FUND INC
		DATE OF NAME CHANGE:	20080409

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN  UTILITY INCOME FUND INC
		DATE OF NAME CHANGE:	19930730

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB HIGH INCOME FUND INC
		CENTRAL INDEX KEY:			0000915845
		IRS NUMBER:				133747683
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN HIGH INCOME FUND INC
		DATE OF NAME CHANGE:	20080130

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN EMERGING MARKET DEBT FUND INC
		DATE OF NAME CHANGE:	20030319

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE EMERGING MARKET DEBT FUND INC
		DATE OF NAME CHANGE:	19931207

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB SUSTAINABLE INTERNATIONAL THEMATIC FUND INC
		CENTRAL INDEX KEY:			0000920701
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AB SUSTAINABLE INTERNATIONALTHEMATIC FUND, INC.
		DATE OF NAME CHANGE:	20180108

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AB INTERNATIONAL GROWTH FUND INC
		DATE OF NAME CHANGE:	20150123

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN INTERNATIONAL GROWTH FUND INC
		DATE OF NAME CHANGE:	20050516

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BERNSTEIN SANFORD C FUND II INC
		CENTRAL INDEX KEY:			0001166729
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALLIANCEBERNSTEIN NATIONAL MUNICIPAL INCOME FUND
		CENTRAL INDEX KEY:			0001162027
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129692124

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE NATIONAL MUNICIPAL INCOME FUND
		DATE OF NAME CHANGE:	20011108

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALLIANCE CALIFORNIA MUNICIPAL INCOME FUND
		CENTRAL INDEX KEY:			0001162028
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129692124

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB CAP FUND, INC.
		CENTRAL INDEX KEY:			0000081443
		IRS NUMBER:				132625045
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN CAP FUND, INC.
		DATE OF NAME CHANGE:	20110524

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN CAP FUND,INC
		DATE OF NAME CHANGE:	20040908

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN SMALL CAP GROWTH FUND INC
		DATE OF NAME CHANGE:	19931001

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BERNSTEIN SANFORD C FUND INC
		CENTRAL INDEX KEY:			0000832808
		IRS NUMBER:				133464161
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10153

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB TRUST
		CENTRAL INDEX KEY:			0001129870
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN TRUST
		DATE OF NAME CHANGE:	20001214

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN VALUE TRUST
		DATE OF NAME CHANGE:	20001212

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB Multi-Manager Alternative Fund
		CENTRAL INDEX KEY:			0001543188
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AllianceBernstein Multi-Manager Alternative Fund
		DATE OF NAME CHANGE:	20120224

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB DISCOVERY GROWTH FUND, INC.
		CENTRAL INDEX KEY:			0000019614
		IRS NUMBER:				136021421
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN DISCOVERY GROWTH FUND, INC.
		DATE OF NAME CHANGE:	20121031

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN SMALL MID CAP GROWTH FUND
		DATE OF NAME CHANGE:	20081103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN MID CAP GROWTH FUND INC
		DATE OF NAME CHANGE:	20030319

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB RELATIVE VALUE FUND, INC.
		CENTRAL INDEX KEY:			0000029292
		IRS NUMBER:				136020888
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AB GROWTH & INCOME FUND INC
		DATE OF NAME CHANGE:	20150123

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN GROWTH & INCOME FUND INC
		DATE OF NAME CHANGE:	20030319

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE GROWTH & INCOME FUND INC
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB GLOBAL RISK ALLOCATION FUND, INC.
		CENTRAL INDEX KEY:			0000069752
		IRS NUMBER:				136020908
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN GLOBAL RISK ALLOCATION FUND, INC.
		DATE OF NAME CHANGE:	20121005

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN BALANCED SHARES INC
		DATE OF NAME CHANGE:	20030319

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE BALANCED SHARES INC/NJ
		DATE OF NAME CHANGE:	19990428

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB SUSTAINABLE GLOBAL THEMATIC FUND, INC.
		CENTRAL INDEX KEY:			0000350181
		IRS NUMBER:				133056623
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AB GLOBAL THEMATIC GROWTH FUND, INC.
		DATE OF NAME CHANGE:	20150123

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN GLOBAL THEMATIC GROWTH FUND, INC.
		DATE OF NAME CHANGE:	20081103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN GLOBAL TECHNOLOGY FUND INC
		DATE OF NAME CHANGE:	20041215

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB MUNICIPAL INCOME FUND, INC.
		CENTRAL INDEX KEY:			0000798737
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN MUNICIPAL INCOME FUND INC
		DATE OF NAME CHANGE:	20030319

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE MUNICIPAL INCOME FUND INC/NY/
		DATE OF NAME CHANGE:	20010629

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE MUNICIPAL INCOME FUND INC/NY
		DATE OF NAME CHANGE:	20010629

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB PORTFOLIOS
		CENTRAL INDEX KEY:			0000812015
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN PORTFOLIOS
		DATE OF NAME CHANGE:	20030319

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE PORTFOLIOS
		DATE OF NAME CHANGE:	19930812

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EQUITABLE FUNDS
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB VARIABLE PRODUCTS SERIES FUND, INC.
		CENTRAL INDEX KEY:			0000825316
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN VARIABLE PRODUCTS SERIES FUND INC
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB FIXED INCOME SHARES INC
		CENTRAL INDEX KEY:			0000862021
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN FIXED INCOME SHARES INC
		DATE OF NAME CHANGE:	20060417

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN INSTITUTIONAL RESERVES INC
		DATE OF NAME CHANGE:	20030319

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE INSTITUTIONAL RESERVES INC
		DATE OF NAME CHANGE:	19980716

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB LARGE CAP GROWTH FUND INC
		CENTRAL INDEX KEY:			0000889508
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN  LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN LARGE CAP GROWTH FUND INC
		DATE OF NAME CHANGE:	20041215

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN PREMIER GROWTH FUND INC
		DATE OF NAME CHANGE:	20030319

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE PREMIER GROWTH FUND INC /
		DATE OF NAME CHANGE:	19981112

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB MUNICIPAL INCOME FUND II
		CENTRAL INDEX KEY:			0000899774
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN MUNICIPAL INCOME FUND II
		DATE OF NAME CHANGE:	20030319

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE MUNICIPAL INCOME FUND II
		DATE OF NAME CHANGE:	19930714

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALLIANCEBERNSTEIN GLOBAL HIGH INCOME FUND INC
		CENTRAL INDEX KEY:			0000906013
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE WORLD DOLLAR GOVERNMENT FUND II INC
		DATE OF NAME CHANGE:	19930714

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB UNCONSTRAINED BOND FUND, INC.
		CENTRAL INDEX KEY:			0001002718
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129692124

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN UNCONSTRAINED BOND FUND, INC.
		DATE OF NAME CHANGE:	20110204

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN DIVERSIFIED YIELD FUND INC
		DATE OF NAME CHANGE:	20071105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN GLOBAL STRATEGIC INCOME TRUST INC
		DATE OF NAME CHANGE:	20030319

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB GLOBAL REAL ESTATE INVESTMENT FUND INC
		CENTRAL INDEX KEY:			0001018368
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129692124

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN GLOBAL REAL ESTATE INVESTMENT FUND INC
		DATE OF NAME CHANGE:	20070302

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN REAL ESTATE INVESTMENT FUND INC /
		DATE OF NAME CHANGE:	19981112

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE REAL ESTATE INVESTMENT INSTITUTIONAL FUND
		DATE OF NAME CHANGE:	19981019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB INSTITUTIONAL FUNDS INC
		CENTRAL INDEX KEY:			0001018592
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OFTHE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN INSTITUTIONAL FUNDS INC
		DATE OF NAME CHANGE:	20030319

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE INSTITUTIONAL FUNDS INC
		DATE OF NAME CHANGE:	19970930

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE INSTITUTIONAL FUNDS
		DATE OF NAME CHANGE:	19960711

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB CORE OPPORTUNITIES FUND, INC.
		CENTRAL INDEX KEY:			0001090504
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129692124

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN CORE OPPORTUNITIES FUND, INC.
		DATE OF NAME CHANGE:	20100301

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN FOCUSED GROWTH & INCOME FUND INC
		DATE OF NAME CHANGE:	20041215

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN DISCIPLINED VALUE FUND INC
		DATE OF NAME CHANGE:	19990714

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB CORPORATE SHARES
		CENTRAL INDEX KEY:			0001274676
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN CORPORATE SHARES
		DATE OF NAME CHANGE:	20031230

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB GLOBAL BOND FUND, INC.
		CENTRAL INDEX KEY:			0000883676
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS 31ST FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN GLOBAL BOND FUND INC
		DATE OF NAME CHANGE:	20071105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN GLOBAL GOVERNMENT INCOME TRUST INC
		DATE OF NAME CHANGE:	20060201

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN AMERICAS GOVERNMENT INCOME TRUST INC
		DATE OF NAME CHANGE:	20030319
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Seward &amp; Kissel LLP</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">901 K Street, NW</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Suite 800</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Washington, DC 20001</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Telephone: (202) 737-8833</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Facsimile: (202) 737-5184</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">www.sewkis.com</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 59%; padding-right: 5.4pt; padding-left: 5.4pt; font: 11pt Calibri, Helvetica, Sans-Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 41%; padding-right: 5.4pt; padding-left: 5.4pt; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">August 16, 2018</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>Via EDGAR CORRESPONDENCE</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Mr. Sonny Oh</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Division of Investment Management</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Securities and Exchange Commission</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">100 F Street, NE</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Washington, DC 20549</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Re:</FONT></TD>
    <TD STYLE="width: 44%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">AB Bond Fund, Inc. (811-02383)</FONT></TD>
    <TD STYLE="width: 4%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 47%; padding-right: 5.4pt; padding-left: 17.1pt; text-indent: -17.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;&nbsp;AB Sustainable Global Thematic Fund, Inc. (811-03131)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">AB Cap Fund, Inc. (811-01716)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 17.1pt; text-indent: -17.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;&nbsp;AB
    Sustainable International Thematic &nbsp;Fund, Inc. (811-08426)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 17.5pt; text-indent: -17.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">
    &nbsp;&nbsp;AB Core Opportunities Fund, Inc. (811-09687)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">AB Trust (811-10221)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">AB Corporate Shares &nbsp;(811-21497)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">AB Unconstrained Bond Fund, Inc.</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 17.1pt">(811-7391)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">AB Discovery Growth Fund, Inc.</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 17.5pt">(811-00204)</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">The AB Portfolios (811-05088)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">AB Equity Income Fund, Inc. (811-7916)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">AB Institutional Funds, Inc. (811-08403)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">AB Fixed-Income Shares, Inc.</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 17.5pt">(811-06068)</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Sanford C. Bernstein Fund, Inc.</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 17.1pt">(811-05555)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">AB Global Bond Fund, Inc. (811-06554)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Sanford C. Bernstein Fund II, Inc.</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 17.1pt">(811-21034)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 17.5pt; text-indent: -17.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;&nbsp;AB Global Real Estate Investment Fund, Inc. (811-07707) </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Bernstein Fund, Inc. (811-23100)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 17.5pt; text-indent: -17.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;&nbsp;AB Global Risk Allocation Fund, Inc. (811-00134)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 17.1pt; text-indent: -17.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;&nbsp;AB Multi-Manager Alternative Fund (811-22671)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">AB High Income Fund, Inc. (811-08188)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 17.1pt; text-indent: -17.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;&nbsp;AB Variable Products Series Fund, Inc. (811-05398)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">AB Large Cap Growth Fund, Inc. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(811-06730)</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 17.1pt; text-indent: -17.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;&nbsp;AllianceBernstein Global High Income Fund, Inc. (811-07732)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">AB Municipal Income Fund, Inc.</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 17.5pt">(811-04791)</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 17.1pt; text-indent: -17.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;&nbsp;AllianceBernstein National Municipal Income Fund, Inc. (811-10573)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">AB Municipal Income Fund II (811-07618)</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 17.1pt; text-indent: -17.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;&nbsp;Alliance California Municipal Income Fund, Inc. (811-10575)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">AB Relative Value Fund, Inc. (811-00126)</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Dear Mr. Oh:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This letter responds
to comments of the staff (the &#8220;Staff&#8221;) of the Securities and Exchange Commission (the &#8220;SEC&#8221;) in connection
with the proxy statement (the &#8220;Proxy Statement&#8221;) that was filed on August 2, 2018 by the above-referenced Registrants.
You provided the Staff&#8217;s comments to me by telephone on August 13, 2018.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Staff&#8217;s
comments and our responses thereto are set forth below. The changes referenced in the responses will be reflected in definitive
proxy materials. In this regard, as indicated in Comment 2 below, the Proxy Statement will be separated into three revised proxy
statements, so changes indicated below for the &#8220;Proxy Statement&#8221; will be implemented for each revised proxy statement
to the extent applicable. In addition, throughout this letter, the term &#8220;the Registrants&#8221; only refers to the Registrants
of the applicable Fund or Funds as may be noted in the comment or corresponding response. Capitalized terms in this letter that
are not otherwise defined herein have the meanings ascribed to them in the Proxy Statement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><U>General/Q&amp;A</U></B></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18%; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Comment 1:</FONT></TD>
    <TD STYLE="width: 82%; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">In addition to proposed new investment advisory agreements, Registrants also seek to obtain shareholder approval of &#8220;future advisory agreements&#8221; at a single meeting of shareholders with respect to a series of related transactions that may be deemed to result in one or more &#8220;assignments&#8221; of a Fund advisory agreement as a result of a &#8220;Change in Control Event.&#8221;&nbsp;&nbsp;The Staff believes that the approval sought from shareholders is overly broad and imprecise with respect to the future advisory agreements.&nbsp;&nbsp;Explain the rationale for this approach, including any discussion of relevant precedent. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Response:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>In seeking shareholder approval of the Proposed Agreements and Future Agreements at the joint meeting of shareholders, Registrants are relying on the guidance provided by the Staff in <I>ING Investments, LLC, Directed Services LLC, and ING Investment Management Co. LLC,</I> SEC No-Action Letter (pub. avail. March 27, 2013) (&#8220;<I>ING Letter</I>&#8221;).&nbsp;&nbsp;In the <I>ING Letter</I>, the Staff agreed not to recommend enforcement action to the SEC under Section 15(a) of the Investment Company Act of 1940 (&#8220;1940 Act&#8221;) against ING Investments, LLC, Directed Services LLC, and ING Investment Management Co. LLC (collectively, the &#8220;ING Advisers&#8221;) if the ING Funds obtained shareholder approval of new advisory agreements and subsequent advisory agreements at a single meeting of shareholders, at the commencement of a series of related transactions that could have been deemed to result in one or more &#8220;assignments&#8221; of the advisory agreements of the ING Funds.</B></FONT></TD></TR>
</TABLE>

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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B></B></FONT></TD>
    <TD STYLE="width: 82%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>The <I>ING Letter</I> involved potential
        assignments of the advisory agreements of the ING Funds arising from the divestment by ING Groep (a publicly-traded company) (&#8220;ING
        Group&#8221;) of its ownership interest in ING US. Each ING Adviser was a wholly-owned subsidiary of ING US. ING Group planned
        to divest its entire interest in ING US in one or more offerings or transactions, which could have resulted in one or more assignments
        of the advisory agreements of the ING Funds. The ING Advisers contended that the essential issue to be presented to the shareholders
        of the ING Funds was whether the ING Advisers should continue to serve the ING Funds even though the ING Advisers would no longer
        be owned indirectly by ING Group. The ING Advisers stressed that this issue would be the same if there were one proxy solicitation
        or multiple proxy solicitations and that soliciting shareholder approval on multiple occasions in connection with subsequent transactions
        or offerings of ING US&#8217;s shares could lead to confusion by fund shareholders, who would see successive proxy statements that
        repeat substantially the same information, and would substantially increase printing, mailing and solicitation expenses.</B></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>The ING Advisers proposed to consider
        whether future offerings of ING US shares may result in an assignment of the then-current advisory agreement on a case-by-case
        basis, in which case the ING Advisers would request the Board of the ING Funds to approve (and the Board would need to approve)
        the subsequent advisory agreement (the terms of which would not be materially different from the terms of the new agreements).
        They also proposed to include disclosure in fund prospectuses and shareholder reports about the divesture and shareholder approval
        of the new and subsequent advisory agreements, which was designed to ensure that shareholders were informed of all relevant facts
        about the divesture at the time they make the decision to invest with the ING Funds.</B></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>In granting the relief in the <I>ING
        Letter</I>, the Staff relied on representations that:</B></P>
        <P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt 17.15pt; text-align: justify; text-indent: -17.15pt"><FONT STYLE="font-family: Symbol">&middot;&#9;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>If
        there were multiple offerings or transactions involving shares of ING US, such offerings and transaction would be related and,
        in essence, part of a single plan for ING Group to divest its interest in ING US.<SUP>1</SUP></B></FONT></P>
        <P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt 17.15pt; text-align: justify; text-indent: -17.15pt"><FONT STYLE="font-family: Symbol">&middot;&#9;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Shares
        of ING US were, and would be after the divestiture, held (directly or indirectly) by a broadly dispersed group of public shareholders,
        with no single person acquiring more than 25% of ING US&#8217;s outstanding voting securities.</B></FONT></P></TD></TR>
</TABLE>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 9pt 0 0"></P>

<P STYLE="font: 8pt/10pt Calibri, Helvetica, Sans-Serif; margin: 0">________________________________<BR>
<BR>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><SUP>1</SUP></FONT>
Registrants note that there have been other circumstances when the Staff has granted no-action relief permitting one shareholder
vote to address multiple transactions but which were part of the same plan to effect the transfer of a controlling shareholder&#8217;s
interest in an adviser. <I>See In American Century Investment Management, Inc.</I>, SEC No-Action Letter (pub. avail. Feb. 2, 2012)
(granting no-action assurance related to Section 15(a)(4) of the 1940 Act regarding a transaction apparently involving a single
vote of fund shareholders that covered a series of related transactions designed to facilitate a single plan of conveyance of ownership
interests in an adviser to a charitable organization).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"><SUP></SUP></FONT></P>



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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 82%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Registrants believe that the circumstances
        relating to the determination to seek shareholder approval of the New Agreements and Future Agreements at one shareholder meeting
        are substantially similar to those presented in the <I>ING Letter</I>. AXA Equitable is a majority-owned subsidiary of AXA and
        an indirect parent of AllianceBernstein Corporation, the general partner of the Adviser.<SUP>2</SUP> AXA has publicly announced
        its plans to divest its remaining ownership interest in AXA Equitable over time in one or more transactions, subject to market
        conditions. Such transactions could result in one or more assignments and automatic terminations of the advisory agreements of
        the Funds.</B></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Like the <I>ING Letter</I>, the essential
        issue to be presented to the shareholders of the Funds is whether the Adviser should continue to serve the Funds even though the
        Adviser would no longer be owned indirectly by AXA. This issue would be the same if there were one proxy solicitation or multiple
        proxy solicitations. Registrants and the Adviser believe that soliciting shareholder approval on multiple occasions in connection
        with subsequent transactions or offerings of AXA Equitable shares may lead to confusion by Fund shareholders, who would see successive
        proxy statements that repeat substantially the same information (including the same proposals and essentially the same advisory
        agreements), and would substantially increase printing, mailing and solicitation expenses.</B></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>The Adviser intends to consider whether
        future transactions or offerings of AXA Equitable shares may result in an assignment of the then-current advisory agreement on
        a case-by-case basis, in which case the Adviser would request the Boards of the Funds to approve (and the Boards would need to
        consider approval of) the Future Agreements (the terms of which would not be materially different from the terms of the New Agreements).
        Registrants intend to include disclosure in prospectuses and shareholder reports of the Funds about the AXA divesture and, assuming
        obtained, shareholder approval of the New and Future Agreements. Registrants and the Adviser believe that shares of AXA Equitable
        are, and will be after the divestiture by AXA, held (directly or indirectly) by a broadly dispersed group of public shareholders,
        with no single person acquiring more than 25% of AXA Equitable&#8217;s outstanding voting securities.</B></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Registrants and the Adviser believe
        that there are no material differences between the operative facts underlying the relief in the <I>ING Letter</I> and those relating
        to the Registrants and the Adviser in determining the &#8220;one shareholder vote or multiple shareholder vote&#8221; question
        in the context of a single plan to transfer shares (effected in stages) and, therefore, any immaterial differences should not make
        the relief of the <I>ING Letter</I> unavailable to the Registrants and the Adviser. For example, in the <I>ING Letter</I>, ING
        Group was required by European rules to divest its interest in ING U.S. whereas AXA has elected to divest its interest AXA Equitable.
        The definition of assignment under the 1940 Act is silent as to the bases upon which a transfer of a controlling block has or will
        occur and therefore the impetus for such a transfer is not relevant in determining the shareholder vote question.<SUP>[3]</SUP></B></P></TD></TR>
</TABLE>

<P STYLE="font: 8pt/10pt Calibri, Helvetica, Sans-Serif; margin: 0">_______________________________________<BR>
<BR>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><SUP>2</SUP> AXA Equitable also indirectly holds a majority of
the outstanding partnership interests of the Adviser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"><SUP>3</SUP></FONT> Likewise, the
definition is silent as to the method of transfer (<I>i.e.,</I> sale of shares in an offering or in an transaction).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>



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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 82%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>For the foregoing reasons, Registrants believe the relief set forth in the <I>ING Letter</I> is applicable to their circumstances and as such they intend to rely on that relief, subject to its conditions, in proceeding with one shareholder vote seeking approval of the New Agreements and Future Agreements.&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Comment 2:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">The Proxy Statement should be sub-divided into separate proxy statements.&nbsp;&nbsp;For example, the Proxy Statement could be sub-divided into a proxy statement for retail open-end funds, a second for closed-end funds and a third for funds underlying variable products. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Response:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>The Proxy Statement will be revised in response to this comment.&nbsp;&nbsp;Specifically, the Proxy Statement will be sub-divided into three proxy statements as follows: (1) closed-end Funds whose shares trade on an exchange; (2) Funds that underlie variable insurance products (AVP); and (3) all other Funds (generally, open-end funds that do not underlie variable insurance products plus one non-exchange traded fund (AMMAF).</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: -1in"><B><U>Meeting
Notice</U></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Comment 3:</FONT></TD>
    <TD STYLE="width: 82%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">The list of Funds provided in the Notice of Joint Meeting should appear in the Proxy Statement itself. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Response:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>The Proxy Statement will be revised in response to this comment.</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: -1in"><B><U>Proxy Statement</U></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Comment 4:</FONT></TD>
    <TD STYLE="width: 82%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">In the Introduction to the Proxy Statement, the disclosure indicates that each share is entitled to one vote. Please disclose that each share is entitled to one vote and that each fractional share is entitled to a proportionate fractional vote.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Response:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>The Proxy Statement will be revised in response to this comment.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Comment 5:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">In accordance with Item 22(a)(3)(ii), please present a summary of the proposals in tabular form and indicate which Funds are solicited with respect to each proposal. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in; line-height: 200%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Response:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>As indicated in the response to Comment 2, the Proxy Statement will be divided into three separate proxy statements.&nbsp;&nbsp;As a result, the proposals are the same in each revised proxy statement and affect all Funds, so the requested summary is not necessary, in accordance with Item 22(a)(3)(ii).</B></FONT></TD></TR>
</TABLE>

<P STYLE="font: 8pt/10pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt/10pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>



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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Comment 6:</FONT></TD>
    <TD STYLE="width: 82%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">The proposals should be separated to the extent that different directors will be proposed for election or different sub-advisory agreements will be proposed for approval.&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Response:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Registrants subject to Proposal One
        are electing Directors, and the proposal references one slate of nominees for each Registrant. This single proposal is straightforward,
        and the use of one proposal minimizes repetition.</B></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Registrants are not seeking shareholder
        approval of sub-advisory agreements.</B></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>The Proxy Statement will not be revised
        in response to this comment.</B></P></TD></TR>
</TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: -0.05pt"><B><U>Proxy Statement &#8211; Proposal
One (Election of Directors)</U></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18%; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Comment 7:</FONT></TD>
    <TD STYLE="width: 82%; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Ensure that the information required for closed-end investment companies required by Item 22(b)(16) is included in the Proxy Statement. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Response:</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>This information relating to the audit committee is provided for AMMAF under Proposal 1 and <U>Appendix C</U>.&nbsp;&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Comment 8:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">The term &#8220;Bernstein Board&#8221; is used and not explained as a defined term when first used under Proposal One.&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Response:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>The terms &#8220;Board&#8221; and &#8220;Bernstein&#8221; are defined terms, so Registrant maintains that the meaning is clear.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Comment 9: </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">The disclosure should clarify for which funds the nominees are current directors and for which funds the nominees would be new directors.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Response: </B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>The second paragraph under Proposal One discloses that the nominees for each Fund, except AMMAF, are all current members of their respective Boards. The nominees for AMMAF are set forth in a prominent table under Proposal One.&nbsp;&nbsp;The Proxy Statement will not be revised in response to this comment.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Comment 10:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">The additional directorships cited for the Directors after the first Directors table should be included in the last column of the Directors table.&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Response:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>These directorships are not required to be included under &#8220;Other Directorships Held by Director&#8221; in the table per Instruction 7 to Item 22(b)(1).&nbsp;&nbsp;The Proxy Statement will not be revised in response to this comment.</B></FONT></TD></TR>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in; line-height: 200%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Comment 11:</FONT></TD>
    <TD STYLE="width: 82%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Under the sections discussing the experience, skills, attributes, and qualifications of the Fund Directors, consider dividing the disclosure on director experience into separate paragraphs, in light of &#8220;plain English&#8221; requirements. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Response:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Registrant believes that the disclosure is &#8220;clear, concise and understandable&#8221; and consistent with the plain English directive.&nbsp;&nbsp;The Proxy Statement will not be revised in response to this comment.&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in; line-height: 200%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Comment 12: </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">In the discussion of committees under &#8220;Board Committees,&#8221; the disclosure states that committee members are identified above, relying on earlier disclosure related to the committees and their membership in the Directors table.&nbsp;&nbsp;The members should be clearly identified in this discussion.&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Response:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Registrants believe that the Board committee members have been properly identified as required by Item 22(b)(14). The Proxy Statement will not be revised in response to this comment.&nbsp;&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Comment 13: </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">In the discussion of the procedures for stockholders to submit candidates for nomination as Directors to the Board, the definition of &#8220;associated person of the stockholder&#8221; is provided at the end of the discussion.&nbsp;&nbsp;Consider moving that definition to the place the term is first used in the discussion.&nbsp;&nbsp;The Staff also notes that both the terms &#8220;associated person of the stockholder&#8221; and &#8220;shareholder associated person&#8221; are used in similar discussions, although they appear to have a similar meaning.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Response:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Registrants note that the Funds use different defined terms in their respective procedures and organizational documents.&nbsp;&nbsp;The Proxy Statement disclosure maintains this approach and is appropriate.&nbsp;&nbsp;The Proxy Statement will not be revised in response to this comment.&nbsp;&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in; line-height: 200%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Comment 14: </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Beginning with the Directors table for SCB and Bernstein and in the related discussion of the Directors, the disclosure uses the term &#8220;SCB/Bernstein Funds&#8221; to refer to these Funds, but earlier and later in the Proxy Statement, the disclosure uses the term &#8220;SCB Funds.&#8221;&nbsp;&nbsp;The use of defined terms should be reviewed for consistency.&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Response:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>The Registrants have reviewed the use of &#8220;SCB/Bernstein Funds&#8221; and defined terms throughout the Proxy Statement.&nbsp;&nbsp;Registrants do not believe the use of &#8220;SCB/Bernstein Funds&#8221; in the Board discussion or the use of any other defined term is unclear. The Proxy Statement will not be revised in response to this comment.&nbsp;&nbsp;&nbsp;</B></FONT></TD></TR>
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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in; line-height: 200%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Comment 15:</FONT></TD>
    <TD STYLE="width: 82%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Define the term &#8220;plurality.&#8221;&nbsp;&nbsp;In addition, add a brief explanation stating that because each nominee is running unopposed, all nominees are expected to be elected as Directors because all nominees will be elected even if they receive less than a majority of votes. Note that abstentions will have no effect on the outcome of the vote on Proposal One. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;<B>Response:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>The Proxy Statement will be revised in response to this comment.&nbsp;&nbsp;&nbsp;Registrants note that under &#8220;Proxy Voting and Stockholder Meetings,&#8221; the disclosure states that abstentions and broker non-votes, if any, not being votes cast, will have no effect on the outcome of Proposal One.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD></TR>
</TABLE>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: -1in"><B><U>Proxy Statement
&#8211; Proposal Two (Approval of Advisory Agreements</U>)</B></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Comment 16:</FONT></TD>
    <TD STYLE="width: 82%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">As stated in Comment 1, the Staff has requested that Registrants explain the rationale for seeking to obtain shareholder approval of &#8220;future advisory agreements&#8221; at a single meeting of shareholders.&nbsp;&nbsp;If Registrant maintains this approach, Proposal 2 would need to be divided into sub-proposals to separately consider the approval of advisory agreements related to the first Change of Control Event and the approval of future agreements related to any subsequent Change of Control Events.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Response:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>As explained in Comment 1, the approach adopted by the Registrants has been permitted by the SEC staff.&nbsp;&nbsp;The approach adopted in the <I>ING</I> Letter does not contemplate that the proposal for approval of the proposed agreements and future agreements be separated, so the Proxy Statement will not be revised in response to this comment.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Comment 17:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Under &#8220;Discussion &#8211; Adviser,&#8221; review the use of the term &#8220;EQH&#8221; and &#8220;AB Holding.&#8221; Clarify the relationship to AXA and the Adviser.&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Response:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>EQH refers to AXA Equitable Holdings, Inc., currently defined as AXA Equitable.&nbsp;&nbsp;AB Holding refers to AllianceBernstein Holding L.P.&nbsp;&nbsp;The disclosure will be revised to clarify the use of these terms. </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in; line-height: 200%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Comment 18:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Pursuant to Item&nbsp;22(c)(1)(iii) of Schedule 14A, please disclose the aggregate amount of the investment adviser&#8217;s fee and the amount and purpose of any other material payments by the Funds to the investment adviser, or any affiliated person of the investment adviser, during the last fiscal year, if any.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Response:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Registrants believe that the disclosure in the Proxy Statement complies with Item 22(c)(1)(iii) of Schedule 14A.&nbsp;&nbsp;<U>Appendix J</U> provides information for the fees paid by each Fund to certain affiliates of the Adviser over the Fund's most recently completed fiscal year and any commissions paid to affiliated broker-dealers over that same period. <U>Appendix F</U> provides information on the costs reimbursed by the Funds to the Adviser for certain administrative services over the most recently completed fiscal year for each Fund.</B></FONT></TD></TR>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: -1in"><B><U>Proxy Voting
and Stockholder Meetings</U></B></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in; line-height: 200%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Comment 19:</FONT></TD>
    <TD STYLE="width: 80%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">In the last sentence of the first paragraph of this section, indicate, as in the first sentence, that a properly executed proxy must also be timely received with respect to proxies being exercised at the Meeting.&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Response:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>The Proxy Statement will be revised in response to this comment.&nbsp;&nbsp;</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: -1in"><B><U>Information
as to the Investment Adviser, Administrator and Distributor of the Funds</U></B></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in; line-height: 200%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Comment 20:</FONT></TD>
    <TD STYLE="width: 80%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Review and eliminate any redundant disclosure regarding the description of the distributor of the Funds. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in; line-height: 200%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Response:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in; line-height: 200%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>The Proxy Statement will be revised in response to this comment.&nbsp;&nbsp;</B></FONT></TD></TR>
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<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: -1in"><B><U>Stock
Ownership </U></B></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Comment 21:</FONT></TD>
    <TD STYLE="width: 80%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">In response to Item 6(d) of Schedule 14A, please consider providing additional disclosure concerning the meaning and impact regarding the security ownership of certain beneficial owners.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;<B>Response:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Registrants believe that the information provided in the Proxy Statement meets the disclosure requirements on security ownership of beneficial owners required by Item 403 of Regulation S-K and Item 6(d) of Schedule 14A.</B></FONT>&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>The Proxy Statement will not be revised in response to this comment.&nbsp;&nbsp;</B></FONT></TD></TR>
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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B><U>Appendices</U></B></TD><TD STYLE="text-align: justify"></TD></TR></TABLE>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in; line-height: 200%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Comment 22:</FONT></TD>
    <TD STYLE="width: 80%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">In <U>Appendix A</U> (Shares Outstanding as of the Record Date), please include disclosure to indicate how fractional shares will be treated.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in; line-height: 200%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Response:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in; line-height: 200%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>The Proxy Statement will be revised in response to this comment.&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in; line-height: 200%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Comment 23:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">In <U>Appendix B</U>, when furnishing information about directors, interested directors should be listed separately from disinterested directors (<I>e.g.,</I> through use of a separate table or separate section of a single table), in accordance with Item 22(b), Instruction 3 to Schedule 14A.&nbsp;&nbsp;</FONT></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Response:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>The Proxy Statement will be revised in response to this comment.&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Comment 24:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Please confirm that the Proxy Statement includes the disclosure required by Item 22(c)(10) of Schedule 14A.&nbsp;&nbsp;</FONT></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Response:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B><U>Appendix E</U> includes information on funds advised by the Adviser with similar investment objectives, as required by Item 22(c)(10). </B></FONT></TD></TR>
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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 21%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Comment 25:</FONT></TD>
    <TD STYLE="width: 79%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Pursuant to Item 22(c)(1)(i) of Schedule 14A, in addition to the date of the advisory agreement and the date on which it was last submitted to shareholders for a vote, provide the purpose of such submission.</FONT></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Response:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>The Proxy Statement will be revised in response to this comment.&nbsp;&nbsp;</B></FONT></TD></TR>
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<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B><U>Other</U></B></TD><TD STYLE="text-align: justify"></TD></TR></TABLE>

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    <TD STYLE="width: 21%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in; line-height: 200%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Comment 26:</FONT></TD>
    <TD STYLE="width: 79%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Please provide, to the extent applicable, information required by Item 405 (Compliance with Section 16(a) of the Securities Exchange Act of 1934) of Regulation S-K as required by Item 22(b)(11) of Schedule 14A. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Response:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>The Proxy Statement will be revised in response to this comment.&nbsp;&nbsp;</B></FONT></TD></TR>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: center; text-indent: -1in">* * *</P>

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<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: justify; text-indent: 0.5in">If you have
any additional comments or questions, please contact Paul M. Miller or the undersigned at (202) 737-8833.</P>

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    <TD STYLE="vertical-align: bottom; width: 57%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 35%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Sincerely,</FONT></TD>
    <TD STYLE="vertical-align: top; width: 8%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
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    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.5pt solid">/s/ Lancelot A. King</P></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Lancelot A. King</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">cc:</TD><TD>Emilie D. Wrapp, Esq.<BR>
Nancy E. Hay, Esq.<BR>
Paul M. Miller, Esq.</TD></TR></TABLE>

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