Sanford C. Bernstein Fund II, Inc. - Intermediate Duration Institutional Portfolio
SIIDX
NASDAQ Global Market- -
USD
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- Alliancebernstein Lp New York NY United States of America 10001
- IPO Date
- May 17, 2002
- CIK
- 0001166729
- Similar Companies
- Business
- Bernstein Intermediate Duration Institutional Portfolio (SIIDX) is an open-end investment company that seeks total return by investing primarily in a diversified portfolio of fixed-income securities with an intermediate duration profile; the portfolio emphasizes high credit quality and moderate interest-rate sensitivity, including U.S. Treasury securities, agency mortgage-backed securities, corporate bonds, government-related bonds, and asset-backed securities, with top holdings such as 5-Year Treasury Note Futures, United States Treasury Bills, and 2-Year Treasury Note Futures. The portfolio, part of Sanford C. Bernstein Fund II, Inc., allocates primarily to U.S. bonds (approximately 105% including leverage), non-U.S. bonds, and cash equivalents, with sector exposures to government (44%), agency mortgage-backed (27%), and corporate bonds (26%); it is managed by a team including Michael Canter (since 2016), Matthew Sheridan (since 2023), and Serena Zhou (since 2024), all from AllianceBernstein L.P., the investment adviser. Launched on May 17, 2002, the portfolio is domiciled in the United States with total net assets of approximately $848 million USD as of recent data and operates through share classes including the Institutional Class (SIIDX), targeting institutional investors with a minimum initial investment of $3 million; AllianceBernstein L.P., headquartered in New York, provides research-driven management across its fixed-income strategies. In a major strategic shift approved by the Board in May 2025, the portfolio is undergoing reorganization into AB Core Bond ETF, a newly created exchange-traded fund series of AB Active ETFs, Inc., with substantially identical investment objective, policies, and strategies but enhanced trading flexibility, portfolio transparency, and tax efficiency; the conversion, managed by AllianceBernstein L.P., is expected to close on or about November 7, 2025, after which the mutual fund will terminate, requiring shareholders to hold shares in brokerage accounts capable of ETFs. Concurrently, effective November 7, 2025, AllianceBernstein implemented a 0.15% contractual management fee waiver and expense caps limiting total annual operating expenses to 0.28% (excluding certain costs), alongside a name change to AB Core Bond Portfolio and expanded principal strategies to invest at least 80% of net assets in fixed-income securities. These changes follow the discontinuance of certain share classes (Class A and Advisor Class) effective May 13, 2025, with liquidations completed by November 7, 2025, reflecting AllianceBernstein's broader transition of select mutual funds to ETF structures for operational efficiency.