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Form NSAR-B AB CAP FUND, INC. For: Mar 31

May 26, 2017 3:53 PM EDT
      PAGE  1
000 B000000 03/31/2017
000 C000000 0000081443
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 AB CAP FUND, INC.
001 B000000 811-01716
001 C000000 9142597552
002 A000000 1345 AVENUE OF THE AMERICAS
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10105
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000 27
007 C010100  1
007 C010200  2
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C020600 AB EMERGING MARKETS MULTIASSET
007 C030600 N
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
020 A000001 GOLDMAN, SACHS & CO.
020 B000001 13-5108880
020 C000001    918
020 A000002 MORGAN STANLEY & CO. LLC
020 B000002 13-2655998
020 C000002    890
020 A000003 J.P. MORGAN SECURITIES LLC
020 B000003 13-3299429
020 C000003    416
020 A000004 CITATION FINANCIAL GROUP, L.P.
020 B000004 13-3604897
020 C000004    337
020 A000005 DEUTSCHE BANK SECURITIES INC
020 B000005 13-2730828
020 C000005    315
020 A000006 CREDIT SUISSE SECURITIES (USA) LLC
020 B000006 05-0546650
      PAGE  2
020 C000006    248
020 A000007 MERRILL LYNCH, PIERCE, FENNER & SMITH INC
020 B000007 13-5674085
020 C000007    203
020 A000008 CITIGROUP GLOBAL MARKETS INC
020 B000008 11-2418191
020 C000008    146
020 A000009 BARCLAYS CAPITAL INC.
020 B000009 06-1031656
020 C000009    128
020 A000010 PERSHING LLC
020 B000010 13-2741729
020 C000010    117
021  000000     4748
022 A000001 ALLIANCEBERNSTEIN
022 B000001 00-0000000
022 C000001   2223292
022 D000001   2055386
022 A000002 MORGAN STANLEY & CO. LLC
022 B000002 13-2655998
022 C000002   1027302
022 D000002   1027031
022 A000003 CITIGROUP GLOBAL MARKETS INC
022 B000003 11-2418191
022 C000003    182667
022 D000003    157423
022 A000004 GOLDMAN, SACHS & CO.
022 B000004 13-5108880
022 C000004    156292
022 D000004    151878
022 A000005 SANFORD C. BERNSTEIN & CO., LLC
022 B000005 13-4132953
022 C000005    157067
022 D000005     61370
022 A000006 J.P. MORGAN SECURITIES LLC
022 B000006 13-3299429
022 C000006    124630
022 D000006     40497
022 A000007 DEUTSCHE BANK SECURITIES INC
022 B000007 13-2730828
022 C000007     66491
022 D000007     56774
022 A000008 CREDIT SUISSE SECURITIES (USA) LLC
022 B000008 05-0546650
022 C000008     66723
022 D000008     38147
022 A000009 MERRILL LYNCH, PIERCE, FENNER & SMITH INC
022 B000009 13-5674085
022 C000009     37740
022 D000009     29435
022 A000010 BNP PARIBAS PRIME BROKERAGE, INC.
      PAGE  3
022 B000010 94-2842977
022 C000010     34290
022 D000010     32759
023 C000000    4188512
023 D000000    3694593
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027  000000 Y
028 A010000         0
028 A020000         0
028 A030000         0
028 A040000         0
028 B010000         0
028 B020000         0
028 B030000         0
028 B040000         0
028 C010000         0
028 C020000         0
028 C030000         0
028 C040000         0
028 D010000         0
028 D020000         0
028 D030000         0
028 D040000         0
028 E010000         0
028 E020000         0
028 E030000         0
028 E040000         0
028 F010000         0
028 F020000         0
028 F030000         0
028 F040000         0
028 G010000         0
028 G020000         0
028 G030000         0
028 G040000         0
028 H000000         0
071 A000000         0
071 B000000         0
071 C000000         0
071 D000000    0
072 A000000 12
072 B000000        0
072 C000000        0
      PAGE  4
072 D000000        0
072 E000000        0
072 F000000        0
072 G000000        0
072 H000000        0
077 A000000 Y
077 B000000 Y
077 Q010000 Y
078  000000 N
086 A010000      0
086 A020000      0
086 B010000      0
086 B020000      0
086 C010000      0
086 C020000      0
086 D010000      0
086 D020000      0
086 E010000      0
086 E020000      0
086 F010000      0
086 F020000      0
074 A000100        0
074 B000100        0
074 C000100        0
074 D000100        0
074 E000100        0
074 F000100        0
074 G000100        0
074 H000100        0
074 I000100        0
074 J000100        0
074 K000100        0
074 L000100        0
074 M000100        0
074 N000100        0
008 A000601 ALLIANCEBERNSTEIN L.P.
008 B000601 A
008 C000601 801-56720
008 D010601 NEW YORK
008 D020601 NY
008 D030601 10105
010 A000601 ALLIANCEBERNSTEIN L.P.
010 C010601 NEW YORK
010 C020601 NY
010 C030601 10105
011 A000601 ALLIANCEBERNSTEIN INVESTMENTS, INC.
011 B000601 8-30851
011 C010601 NEW YORK
011 C020601 NY
011 C030601 10105
012 A000601 ALLIANCEBERNSTEIN INVESTOR SERVICES, INC.
      PAGE  5
012 B000601 84-0001187
012 C010601 SAN ANTONIO
012 C020601 TX
012 C030601 78278
013 A000601 ERNST & YOUNG, LLP
013 B010601 NEW YORK
013 B020601 NY
013 B030601 10036
014 A000601 SANFORD C. BERNSTEIN & CO., LLC
014 B000601 8-52942
014 A000602 SANFORD C. BERNSTEIN LIMITED
014 B000602 8-0000
015 A000601 BROWN BROTHERS HARRIMAN & CO.
015 B000601 C
015 C010601 BOSTON
015 C020601 MA
015 C030601 02110
015 E010601 X
015 A000602 CITIBANK, N.A. BUENOS AIRES BRANCH
015 B000602 S
015 C010602 BUENOS AIRES
015 D010602 ARGENTINA
015 E040602 X
015 A000603 HSBC BANK AUSTRALIA LIMITED
015 B000603 S
015 C010603 SYDNEY
015 D010603 AUSTRALIA
015 E040603 X
015 A000604 UNICREDIT BANK AUSTRIA AG
015 B000604 S
015 C010604 VIENNA
015 D010604 AUSTRIA
015 E040604 X
015 A000605 BNP PARIBAS SECURITIES SERVICES
015 B000605 S
015 C010605 PANTIN
015 D010605 BELGIUM
015 E040605 X
015 A000606 STANDARD CHARTERED BANK GHANA LTD.
015 B000606 S
015 C010606 ACCRA
015 D010606 GHANA
015 E040606 X
015 A000607 CITIBANK N.A., SAO PAULO
015 B000607 S
015 C010607 SAO PAULO
015 D010607 BRAZIL
015 E040607 X
015 A000608 RBC INVESTOR SERVICES TRUST
015 B000608 S
015 C010608 TORONTO
      PAGE  6
015 D010608 CANADA
015 E040608 X
015 A000609 BANCO DE CHILE
015 B000609 S
015 C010609 SANTIAGO
015 D010609 CHILE
015 E040609 X
015 A000610 CITITRUST COLOMBIA S.A., SOCIEDAD FIDUCIARA
015 B000610 S
015 C010610 BOGOTA
015 D010610 COLOMBIA
015 E040610 X
015 A000611 UNICREDIT BANK AUSTRIA AG
015 B000611 S
015 C010611 VIENNA
015 D010611 CROATIA
015 E040611 X
015 A000612 CITIBANK EUROPE PLC, ORGANIZACNI SLOZKA
015 B000612 S
015 C010612 PRAGUE
015 D010612 CZECH REPUBLIC
015 E040612 X
015 A000613 SKANDINAVISKA ENSKILDA BANKEN AB (PUBL)
015 B000613 S
015 C010613 COPENHAGEN
015 D010613 DENMARK
015 E040613 X
015 A000614 CITIBANK N.A., CAIRO BRANCH
015 B000614 S
015 C010614 CAIRO
015 D010614 EGYPT
015 E040614 X
015 A000615 NORDEA BANK FINLAND PLC
015 B000615 S
015 C010615 HELSINKI
015 D010615 FINLAND
015 E040615 X
015 A000616 CACEIS BANK
015 B000616 S
015 C010616 PARIS
015 D010616 FRANCE
015 E040616 X
015 A000617 DEUTSCHE BANK AG, FRANKFURT
015 B000617 S
015 C010617 ESCHBORN
015 D010617 GERMANY
015 E040617 X
015 A000618 HSBC BANK PLC, ATHENS BRANCH
015 B000618 S
015 C010618 ATHENS
015 D010618 GREECE
      PAGE  7
015 E040618 X
015 A000619 HSBC LTD.
015 B000619 S
015 C010619 KOWLOON
015 D010619 HONG KONG
015 E040619 X
015 A000620 CITIBANK EUROPE PLC, HUNGARIAN BRANCH OFFICE
015 B000620 S
015 C010620 BUDAPEST
015 D010620 HUNGARY
015 E040620 X
015 A000621 CITIBANK N.A., MUMBAI BRANCH
015 B000621 S
015 C010621 MUMBAI
015 D010621 INDIA
015 E040621 X
015 A000622 CITIBANK N.A., JAKARTA BRANCH
015 B000622 S
015 C010622 JAKARTA
015 D010622 INDONESIA
015 E040622 X
015 A000623 CITIBANK N.A., LONDON BRANCH
015 B000623 S
015 C010623 LONDON
015 D010623 IRELAND
015 E040623 X
015 A000624 BANK HAPOALIM BM
015 B000624 S
015 C010624 TEL AVIV
015 D010624 ISRAEL
015 E040624 X
015 A000625 SOCIETE GENERALE SECURITIES SERVICES S.P.A.
015 B000625 S
015 C010625 MILAN
015 D010625 ITALY
015 E040625 X
015 A000626 THE BANK OF TOKYO-MITSUBISHI UFJ, LTD
015 B000626 S
015 C010626 TOKYO
015 D010626 JAPAN
015 E040626 X
015 A000627 HSBC BANK MIDDLE EAST LIMITED, KUWAIT BRANCH
015 B000627 S
015 C010627 KUWAIT CITY
015 D010627 KUWAIT
015 E040627 X
015 A000628 KBL EUROPEAN PRIVATE BANKERS SA
015 B000628 S
015 C010628 LUXEMBOURG
015 D010628 LUXEMBOURG
015 E040628 X
      PAGE  8
015 A000629 HSBC BANK MALAYSIA BERHAD
015 B000629 S
015 C010629 KUALA LUMPUR
015 D010629 MALAYSIA
015 E040629 X
015 A000630 BANCO NACIONAL DE MEXICO, S.A. (BANAMEX)
015 B000630 S
015 C010630 MEXICO CITY
015 D010630 MEXICO
015 E040630 X
015 A000631 CITIBANK MAGHREB
015 B000631 S
015 C010631 CASABLANCA
015 D010631 MOROCCO
015 E040631 X
015 A000632 DEUTSCHE BANK AG, AMSTERDAM BRANCH
015 B000632 S
015 C010632 AMSTERDAM
015 D010632 NETHERLANDS
015 E040632 X
015 A000633 HSBC LTD., NEW ZEALAND BRANCH
015 B000633 S
015 C010633 AUCKLAND
015 D010633 NEW ZEALAND
015 E040633 X
015 A000634 STANBIC IBTC BANK PLC
015 B000634 S
015 C010634 LAGOS
015 D010634 NIGERIA
015 E040634 X
015 A000635 NORDEA BANK AB (PUBL), FILIAL I NORGE
015 B000635 S
015 C010635 OSLO
015 D010635 NORWAY
015 E040635 X
015 A000636 HSBC BANK OMAN SAOG
015 B000636 S
015 C010636 RUWI
015 D010636 OMAN
015 E040636 X
015 A000637 CITIBANK DEL PERU S.A.
015 B000637 S
015 C010637 LIMA
015 D010637 PERU
015 E040637 X
015 A000638 HSBC LTD., PHILIPPINE BRANCH
015 B000638 S
015 C010638 TAGUIG CITY
015 D010638 PHILIPPINES
015 E040638 X
015 A000639 BANK HANDLOWY W WARSZAWIE SA
      PAGE  9
015 B000639 S
015 C010639 WARSAW
015 D010639 POLAND
015 E040639 X
015 A000640 BNP PARIBAS SECURITIES SERVICES
015 B000640 S
015 C010640 PANTIN
015 D010640 PORTUGAL
015 E040640 X
015 A000641 HSBC BANK MIDDLE EAST LIMITED, QATAR BRANCH
015 B000641 S
015 C010641 ST. HELIER
015 D010641 QATAR
015 E040641 X
015 A000642 HSBC LTD., SINGAPORE BRANCH
015 B000642 S
015 C010642 SINGAPORE
015 D010642 SINGAPORE
015 E040642 X
015 A000643 EUROCLEAR BANK SA NV
015 B000643 S
015 C010643 BRUSSELS
015 D010643 BELGIUM
015 E040643 X
015 A000644 HSBC LTD., KOREA BRANCH
015 B000644 S
015 C010644 SEOUL
015 D010644 SOUTH KOREA
015 E040644 X
015 A000645 BANCO BILBAO VIZCAYA ARGENTARIA SA
015 B000645 S
015 C010645 MADRID
015 D010645 SPAIN
015 E040645 X
015 A000646 HSBC LTD., SRI LANKA BRANCH
015 B000646 S
015 C010646 COLOMBO
015 D010646 SRI LANKA
015 E040646 X
015 A000647 SKANDINAVISKA ENSKILDA BANKEN AB (PUBL)
015 B000647 S
015 C010647 STOCKHOLM
015 D010647 SWEDEN
015 E040647 X
015 A000648 UBS SWITZERLAND AG
015 B000648 S
015 C010648 ZURICH
015 D010648 SWITZERLAND
015 E040648 X
015 A000649 STANDARD CHARTERED BANK (TAIWAN) LIMITED
015 B000649 S
      PAGE  10
015 C010649 TAIPEI
015 D010649 TAIWAN
015 E040649 X
015 A000650 HSBC LTD., THAILAND BRANCH
015 B000650 S
015 C010650 BANGKOK
015 D010650 THAILAND
015 E040650 X
015 A000651 DEUTSCHE BANK A.S.
015 B000651 S
015 C010651 ISTANBUL
015 D010651 TURKEY
015 E040651 X
015 A000652 HSBC BANK MIDDLE EAST LIMITED
015 B000652 S
015 C010652 DUBAI
015 D010652 UNITED ARAB EMIRATES
015 E040652 X
015 A000653 HSBC BANK PLC
015 B000653 S
015 C010653 LONDON
015 D010653 UNITED KINGDOM
015 E040653 X
015 A000654 BANCO ITAU URUGUAY S.A.
015 B000654 S
015 C010654 MONTEVIDO
015 D010654 URUGUAY
015 E040654 X
015 A000655 HSBC BANK (VIETNAM) LTD
015 B000655 S
015 C010655 HO CHI MINH CITY
015 D010655 VIETNAM
015 E040655 X
015 A000656 LANDSBANKINN HF.
015 B000656 S
015 C010656 REYKJAVIK
015 D010656 ICELAND
015 E040656 X
015 A000657 STANDARD CHARTERED BANK (PAKISTAN) LIMITED
015 B000657 S
015 C010657 KARACHI
015 D010657 PAKISTAN
015 E040657 X
015 A000658 CITIBANK EUROPE PLC, DUBLIN-SUCURSALA ROMANIA
015 B000658 S
015 C010658 BUCHAREST
015 D010658 ROMANIA
015 E040658 X
015 A000659 CLEARSTEREAM BANKING SA
015 B000659 S
015 C010659 LUXEMBOURG
      PAGE  11
015 D010659 LUXEMBOURG
015 E040659 X
015 A000660 STANDARD CHARTERED BANK (CHINA) LIMITED
015 B000660 S
015 C010660 SHANGHAI
015 D010660 CHINA
015 E040660 X
015 A000661 AO CITIBANK FOR CITIBANK, N.A.
015 B000661 S
015 C010661 MOSCOW
015 D010661 RUSSIA
015 E040661 X
015 A000662 STANDARD CHARTERED BANK JOHANNESBURG BRANCH
015 B000662 S
015 C010662 JOHANNESBURG
015 D010662 SOUTH AFRICA
015 E040662 X
018  000600 Y
019 A000600 Y
019 B000600  115
019 C000600 ALLIANCEBE
024  000600 N
025 D000601       0
025 D000602       0
025 D000603       0
025 D000604       0
025 D000605       0
025 D000606       0
025 D000607       0
025 D000608       0
028 A010600      2462
028 A020600         0
028 A030600         0
028 A040600       125
028 B010600      1793
028 B020600         0
028 B030600         0
028 B040600       675
028 C010600      1156
028 C020600       513
028 C030600         0
028 C040600      2736
028 D010600      6975
028 D020600         0
028 D030600         0
028 D040600       449
028 E010600      5696
028 E020600         0
028 E030600         0
028 E040600       834
028 F010600     11719
      PAGE  12
028 F020600       122
028 F030600         0
028 F040600       783
028 G010600     29801
028 G020600       635
028 G030600         0
028 G040600      5602
028 H000600      3667
029  000600 Y
030 A000600      5
030 B000600  4.25
030 C000600  0.00
031 A000600      0
031 B000600      0
032  000600      5
033  000600      0
034  000600 Y
035  000600      0
036 A000600 Y
036 B000600      0
037  000600 N
038  000600      0
039  000600 N
040  000600 Y
041  000600 Y
042 A000600   0
042 B000600   0
042 C000600   0
042 D000600   0
042 E000600   0
042 F000600   0
042 G000600   0
042 H000600   0
043  000600     13
044  000600     11
045  000600 Y
046  000600 N
047  000600 Y
048  000600  0.000
048 A010600  1000000
048 A020600 0.850
048 B010600  1000000
048 B020600 0.800
048 C010600  1000000
048 C020600 0.750
048 D010600        0
048 D020600 0.000
048 E010600        0
048 E020600 0.000
048 F010600        0
048 F020600 0.000
      PAGE  13
048 G010600        0
048 G020600 0.000
048 H010600        0
048 H020600 0.000
048 I010600        0
048 I020600 0.000
048 J010600        0
048 J020600 0.000
048 K010600  3000000
048 K020600 0.700
049  000600 N
050  000600 N
051  000600 N
052  000600 N
053 A000600 Y
053 B000600 Y
053 C000600 N
054 A000600 Y
054 B000600 Y
054 C000600 N
054 D000600 N
054 E000600 N
054 F000600 N
054 G000600 Y
054 H000600 Y
054 I000600 N
054 J000600 Y
054 K000600 N
054 L000600 N
054 M000600 Y
054 N000600 N
054 O000600 N
055 A000600 Y
055 B000600 N
056  000600 Y
057  000600 N
058 A000600 N
059  000600 Y
060 A000600 Y
060 B000600 Y
061  000600     2500
062 A000600 N
062 B000600   0.0
062 C000600   0.0
062 D000600   0.0
062 E000600   0.0
062 F000600   0.0
062 G000600   0.0
062 H000600   0.0
062 I000600   0.0
062 J000600   0.0
      PAGE  14
062 K000600   0.0
062 L000600   0.0
062 M000600   0.0
062 N000600   0.0
062 O000600   0.0
062 P000600   0.0
062 Q000600   0.0
062 R000600   0.0
063 A000600   0
063 B000600  0.0
066 A000600 Y
066 G000600 Y
067  000600 N
068 A000600 N
068 B000600 Y
069  000600 N
070 A010600 Y
070 A020600 N
070 B010600 Y
070 B020600 Y
070 C010600 Y
070 C020600 N
070 D010600 Y
070 D020600 N
070 E010600 Y
070 E020600 N
070 F010600 Y
070 F020600 Y
070 G010600 Y
070 G020600 N
070 H010600 Y
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 Y
070 J020600 Y
070 K010600 Y
070 K020600 N
070 L010600 Y
070 L020600 Y
070 M010600 Y
070 M020600 Y
070 N010600 Y
070 N020600 Y
070 O010600 Y
070 O020600 N
070 P010600 Y
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 Y
      PAGE  15
070 R020600 N
071 A000600     60753
071 B000600     42688
071 C000600     36162
071 D000600  118
072 A000600 12
072 B000600     1111
072 C000600      617
072 D000600        0
072 E000600        0
072 F000600      383
072 G000600       65
072 H000600        0
072 I000600       43
072 J000600      184
072 K000600        0
072 L000600       38
072 M000600       25
072 N000600       80
072 O000600        0
072 P000600        0
072 Q000600        0
072 R000600       85
072 S000600       42
072 T000600       13
072 U000600        0
072 V000600        0
072 W000600       80
072 X000600     1038
072 Y000600      527
072 Z000600     1217
072AA000600      538
072BB000600        0
072CC010600     2582
072CC020600        0
072DD010600      118
072DD020600     1334
072EE000600        0
073 A010600   0.3000
073 A020600   0.0000
073 B000600   0.0000
073 C000600   0.0000
074 A000600       83
074 B000600        0
074 C000600       47
074 D000600    18696
074 E000600        0
074 F000600    35363
074 G000600        0
074 H000600        0
074 I000600     9811
      PAGE  16
074 J000600        0
074 K000600       25
074 L000600      966
074 M000600      314
074 N000600    65305
074 O000600      248
074 P000600        7
074 Q000600        0
074 R010600        0
074 R020600        0
074 R030600        0
074 R040600      355
074 S000600        0
074 T000600    64695
074 U010600      518
074 U020600     6511
074 V010600     9.20
074 V020600     0.00
074 W000600   0.0000
074 X000600     2902
074 Y000600      133
075 A000600        0
075 B000600    40168
076  000600     0.00
080 A000600 NATIONAL UNION FIRE INS. CO.
080 B000600 CONTINENTAL INS, EVEREST, BERKLEY REG, LIBERT
080 C000600    73025
081 A000600 Y
081 B000600 114
082 A000600 N
082 B000600        0
083 A000600 N
083 B000600        0
084 A000600 N
084 B000600        0
085 A000600 Y
085 B000600 N
SIGNATURE   JOSEPH J. MANTINEO                           
TITLE       TREASURER AND CFO   
 


Report of Independent Registered Public Accounting Firm

To the Board of Directors of AB Cap Fund, Inc. and Shareholders of AB Emerging Markets Multi-Asset Portfolio:

In planning and performing our audit of the financial statements of AB Emerging Markets Multi-Asset Portfolio (one of the portfolios constituting AB Cap Fund, Inc., (the “Portfolio”)), as of and for the year ended March 31, 2017, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered the Portfolio’s internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, but not for the purpose of expressing an opinion on the effectiveness of the Portfolio’s internal control over financial reporting. Accordingly, we express no such opinion.

The management of the Portfolio is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A portfolio’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A portfolio’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the portfolio; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the portfolio are being made only in accordance with authorizations of management and directors of the portfolio; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a portfolio’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the portfolio’s annual or interim financial statements will not be prevented or detected on a timely basis.

Our consideration of the Portfolio’s internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the Public Company Accounting Oversight Board (United States). However, we noted no deficiencies in the Portfolio’s internal control over financial reporting and its operation, including controls over safeguarding securities that we consider to be a material weakness as defined above as of March 31, 2017.

This report is intended solely for the information and use of management and the Board of Directors of AB Cap Fund, Inc. and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.


                                                                                                                                                                                                 /s/ Ernst & Young LLP


New York, New York
May 25, 2017

 


NSAR
811-01716 – AB Cap Fund
77Q1

 
INVESTMENT ADVISORY CONTRACT
 
AB CAP FUND, INC.

1345 Avenue of the Americas
New York, New York 10105
 
July 22, 1992, as amended
September 7, 2004, December 15, 2004, December 23, 2009, August 2, 2010, October 26, 2010, July 6, 2011, August 31, 2011, December 8, 2011, December 15, 2011, September 27, 2012, December 12, 2012, March 1, 2014, October 22, 2014, November 12, 2014, December 3, 2014, December 18, 2014, March 4, 2015, April 15, 2015, July 1, 2015, July 29, 2015, September 9, 2015, December 3, 2015, November 1, 2016, and February 3, 2017.

AllianceBernstein L.P.
1345 Avenue of the Americas
New York, New York 10105
 
Dear Sirs:
 
We herewith confirm our agreement with you as follows:
1. We are currently authorized to issue separate classes of shares and our Board of Directors is authorized to reclassify and issue any unissued shares to any number of additional classes or series (Portfolios) each having its own investment objective, policies and restrictions, all as more fully described in the prospectus and statement of additional information constituting parts of our Registration Statement on Form N-1A filed with the Securities and Exchange Commission (the “Commission”) under the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended (the “Registration Statement”).  We are engaged in the business of investing and reinvesting our capital of each of our Portfolios in securities of the type and in accordance with the limitations specified in our Certificate of Incorporation, By-Laws, Registration Statement, and any representation made in our Prospectus, all in such manner and to such extent as may from time to time be authorized by our Board of Directors. We enclose copies of the documents listed above and will from time to time furnish you with any amendments thereof. We will also keep you currently advised as to the make-up of the portfolio of securities in each of our Portfolios.
2.           (a) We hereby employ you to advise us in respect of investing and reinvestment of our capital in each of our Portfolios as above specified, and, without limiting the generality of the foregoing, to provide management and other services specified below.
(b) You on your own motion will advise us whenever in your opinion conditions are such as to make it desirable that a specific security or group of securities be eliminated from the portfolio of securities of a Portfolio or added to it. You will also keep us in touch with important developments affecting any Portfolio and on your own initiative will furnish us from time to time with such information as you may believe appropriate for this purpose, whether concerning the individual companies whose securities are included in our Portfolios, or the industries in which they engage, or the economy generally. Similar information is to be furnished us with reference to securities which you may believe desirable for inclusion in a Portfolio. You will also furnish us with such statistical information with respect to the securities in each of our Portfolios which we may hold or contemplate purchasing as you may believe appropriate or as we reasonably may request. In advising us, you will bear in mind the limitations imposed by our Certificate of Incorporation and statement of policy included in our Registration Statement and the limitations in the Investment Company Act and of the Internal Revenue Code in respect of regulated investment companies for each of our Portfolios.
(c) It is understood that you will from time to time employ or associate with yourselves such persons as you believe to be particularly fitted to assist you in the execution of this contract, the compensation of such persons to be paid by you. No obligation may be incurred on our behalf in any such respect. During the continuance of this agreement you will provide persons satisfactory to our Board of Directors to serve as our officers. You or your affiliates will also provide persons, who may be our officers, to render such clerical, accounting, administrative and other services to us as we may from time to time request of you. Such personnel may be employees of you and your affiliates. We will pay to you or your affiliates the cost of such personnel for rendering such services to us at such rates as shall from time to time be agreed upon between us, provided that all time devoted to the investment or reinvestment of securities in each of our Portfolios shall be for your account. Nothing contained herein shall be construed to restrict our right to hire our own employees or to contract for services to be performed by third parties. Furthermore, you or your affiliates (other than us) shall furnish us without charge with such management supervision and assistance and such office facilities as you may believe appropriate or as we may reasonably request subject to the requirements of any regulatory authority to which you may be subject.
3.           It is further agreed that, except as provided in paragraph 2(c) hereof, you shall be responsible for the following expenses incurred by us during each year or portion thereof that this agreement is in effect between us: (i) the compensation of any of our directors, officers, and employees who devote less than all of their time to our affairs and who devote part of their time to the affairs of you and your affiliates, (ii) expenses of computing the net asset value of the shares of each of our Portfolios to the extent such computation is required under applicable Federal securities laws, (iii) expenses of office rental, and (iv) clerical and bookkeeping expenses. We shall be responsible and hereby assume the obligation for payment of all our other expenses including (a) brokerage and commission expenses, (b) Federal, State or local taxes, including issue and transfer taxes, incurred by or levied on us, (c) interest charges on borrowing, (d) fees and expenses of registering the shares of each of our Portfolios under the appropriate Federal securities laws (other than expenses relative to the initial registration) and of qualifying the shares of each of our Portfolios under applicable State securities laws, including expenses attendant upon renewing and increasing such registrations and qualifications, (e) expenses of printing and distributing our prospectuses and other reports to stockholders, (f) costs of proxy solicitations, (g) charges and expenses incurred by us in acting as transfer agent and registrar of the shares of each of our Portfolios, (h) charges and expenses of our custodian, (i) compensation of our officers, directors and employees who do not devote any part of their time to the affairs of you or your affiliates, (j) legal and auditing expenses, (k) payment of all investment advisory fees (including the fees payable to you hereunder), (1) costs of stationery and supplies, and (m) such promotional expenses as may be contemplated by an effective plan pursuant to Rule 12b-1 under the Act; provided, however, that our payment of such promotional expenses shall be in the amounts, and in accordance with the procedures, set forth in such plan.
4.           We shall expect of you, and you will give us the benefit of, your best judgment and efforts in rendering these services to us, and we agree as an inducement to your undertaking these services that you shall not be liable hereunder for any mistake of judgment or in any event whatsoever, except for lack of good faith, provided that nothing herein shall be deemed to protect, or purport to protect, you against any liability to us or to our security holders to which you would otherwise be subject by reason of your reckless disregard of your obligations and duties hereunder.
5.           (a) In consideration of the foregoing we will pay you, in the case of the AB Small Cap Growth Portfolio, a monthly fee at an annualized rate of .75 of 1.00% of the first $2.5 billion, .65 of 1.00% of the excess over $2.5 billion up to $5 billion and .60 of 1.00% of the excess over $5 billion of the average daily net assets of the AB Small Cap Growth Portfolio managed by you.  In the event of any termination of this agreement, your compensation will be calculated on the basis of a period ending on the last day on which this agreement is in effect, subject to proration based on the number of days elapsed in the current period as a percentage of the total number of days in such period.
 (b) In consideration of the foregoing we will pay you, in the case of the AB Market Neutral Strategy-U.S., a monthly fee at an annualized rate of 1.25% of the average daily net assets of the AB Market Neutral Strategy-U.S. managed by you. Your compensation for the period from the date hereof through the last day of the month in which the effective date hereof occurs shall be prorated according to the proportion which such period bears to such full month.  In the event of any termination of this agreement, your compensation will be calculated on the basis of a period ending on the last day on which this agreement is in effect, subject to proration based on the number of days elapsed in the current period as a percentage of the total number of days in such period.
(c) In consideration of the foregoing we will pay you, in the case of the AB Emerging Markets Multi-Asset Portfolio, a monthly fee at an annualized rate of 0.85 of 1% of the first $1 billion, 0.80 of 1% of the excess over $1 billion up to $2 billion, 0.75 of 1% of the excess over $2 billion up to $3 billion and 0.70 of 1% of the excess over $3 billion of the average daily net assets of the AB Emerging Markets Multi-Asset Portfolio managed by you. Your compensation for the period from the date hereof through the last day of the month in which the effective date hereof occurs shall be prorated according to the proportion which such period bears to such full month.  In the event of any termination of this agreement, your compensation will be calculated on the basis of a period ending on the last day on which this agreement is in effect, subject to proration based on the number of days elapsed in the current period as a percentage of the total number of days in such period.
(d) In consideration of the foregoing we will pay you, in the case of the AB Select US Equity Portfolio, a monthly fee at an annualized rate of 1% of the average daily net assets of the AB Select US Equity Portfolio managed by you. Your compensation for the period from the date hereof through the last day of the month in which the effective date hereof occurs shall be prorated according to the proportion which such period bears to such full month.  In the event of any termination of this agreement, your compensation will be calculated on the basis of a period ending on the last day on which this agreement is in effect, subject to proration based on the number of days elapsed in the current period as a percentage of the total number of days in such period.
(e) In consideration of the foregoing we will pay you, in the case of the AB All Market Growth Portfolio, a monthly fee at an annualized rate of .60 of 1% of the average daily net assets of the AB All Market Growth Portfolio managed by you. Your compensation for the period from the date hereof through the last day of the month in which the effective date hereof occurs shall be prorated according to the proportion which such period bears to such full month.  In the event of any termination of this agreement, your compensation will be calculated on the basis of a period ending on the last day on which this agreement is in effect, subject to proration based on the number of days elapsed in the current period as a percentage of the total number of days in such period.
(f) In consideration of the foregoing we will pay you, in the case of the AB Select US Long/Short Portfolio, a monthly fee at an annualized rate of 1.50% of the first $2.5 billion and 1.475% of the excess over $2.5 billion of the average daily net assets of the AB Select US Long/Short Portfolio managed by you. Your compensation for the period from the date hereof through the last day of the month in which the effective date hereof occurs shall be prorated according to the proportion which such period bears to such full month.  In the event of any termination of this agreement, your compensation will be calculated on the basis of a period ending on the last day on which this agreement is in effect, subject to proration based on the number of days elapsed in the current period as a percentage of the total number of days in such period.
(g) In consideration of the foregoing we will pay you, in the case of AB Concentrated Growth Fund, a monthly fee at an annualized rate of 0.80% of the average daily net assets of the AB Concentrated Growth Fund managed by you. Your compensation for the period from the date hereof through the last day of the month in which the effective date hereof occurs shall be prorated according to the proportion which such period bears to such full month. In the event of any termination of this agreement, your compensation will be calculated on the basis of a period ending on the last day on which this agreement is in effect, subject to proration based on the number of days elapsed in the current period as a percentage of the total number of days in such period.
(h) In consideration of the foregoing we will pay you, in the case of AB Emerging Markets Growth Portfolio, a monthly fee at an annualized rate of 1.175% the first $1 billion, 1.05% of the excess over $1 billion up to $2 billion, 1.00% of the excess over $2 billion up to $3 billion, 0.90 of 1.00% of the excess over $3 billion up to $6 billion, and 0.85 of 1.00% of the excess over $6 billion of the average daily net assets of the AB Emerging Markets Growth Portfolio managed by you. Your compensation for the period from the date hereof through the last day of the month in which the effective date hereof occurs shall be prorated according to the proportion which such period bears to such full month.  In the event of any termination of this agreement, your compensation will be calculated on the basis of a period ending on the last day on which this agreement is in effect, subject to proration based on the number of days elapsed in the current period as a percentage of the total number of days in such period.
(i) In consideration of the foregoing we will pay you, in the case of AB Global Core Equity Portfolio, a monthly fee at an annualized rate of 0.75 of 1.00% of the first $2.5 billion, 0.65 of 1.00% of the excess over $2.5 billion up to $5.0 billion, and 0.60 of 1.00% of the excess over $5 billion of the average daily net assets of the AB Global Core Equity Portfolio managed by you. Your compensation for the period from the date hereof through the last day of the month in which the effective date hereof occurs shall be prorated according to the proportion which such period bears to such full month. In the event of any termination of this agreement, your compensation will be calculated on the basis of a period ending on the last day on which this agreement is in effect, subject to proration based on the number of days elapsed in the current period as a percentage of the total number of days in such period.
(j) In consideration of the foregoing we will pay you, in the case of AB Small Cap Value Portfolio, a monthly fee at an annualized rate of 0.80% of the average daily net assets of the AB Small Cap Value Portfolio managed by you. Your compensation for the period from the date hereof through the last day of the month in which the effective date hereof occurs shall be prorated according to the proportion which such period bears to such full month. In the event of any termination of this agreement, your compensation will be calculated on the basis of a period ending on the last day on which this agreement is in effect, subject to proration based on the number of days elapsed in the current period as a percentage of the total number of days in such period.
(k) In consideration of the foregoing we will pay you, in the case of AB All Market Income Portfolio, a monthly fee at an annualized rate of 0.70% of the average daily net assets of the AB All Market Income Portfolio managed by you. Your compensation for the period from the date hereof through the last day of the month in which the effective date hereof occurs shall be prorated according to the proportion which such period bears to such full month. In the event of any termination of this agreement, your compensation will be calculated on the basis of a period ending on the last day on which this agreement is in effect, subject to proration based on the number of days elapsed in the current period as a percentage of the total number of days in such period.
(l) In consideration of the foregoing we will pay you, in the case of AB All Market Alternative Return Portfolio, a monthly fee at an annualized rate of 0.75% of the average daily net assets of the AB All Market Alternative Return Portfolio managed by you. Your compensation for the period from the date hereof through the last day of the month in which the effective date hereof occurs shall be prorated according to the proportion which such period bears to such full month.  In the event of any termination of this agreement, your compensation will be calculated on the basis of a period ending on the last day on which this agreement is in effect, subject to proration based on the number of days elapsed in the current period as a percentage of the total number of days in such period.
(m) In consideration of the foregoing we will pay you, in the case of AB Concentrated International Growth Portfolio, a monthly fee at an annualized rate of 0.85% of the average daily net assets of the AB Concentrated International Growth Portfolio managed by you. Your compensation for the period from the date hereof through the last day of the month in which the effective date hereof occurs shall be prorated according to the proportion which such period bears to such full month. In the event of any termination of this agreement, your compensation will be calculated on the basis of a period ending on the last day on which this agreement is in effect, subject to proration based on the number of days elapsed in the current period as a percentage of the total number of days in such period.
(n) In consideration of the foregoing we will pay you, in the case of AB International Strategic Core Portfolio, a monthly fee at an annualized rate of 0.75% of the first $2.5 billion, 0.65% of the excess of $2.5 billion up to $5 billion, and 0.60% of the excess over $5 billion of the average daily net assets of the AB International Strategic Core Portfolio managed by you. Your compensation for the period from the date hereof through the last day of the month in which the effective date hereof occurs shall be prorated according to the proportion which such period bears to such full month.  In the event of any termination of this agreement, your compensation will be calculated on the basis of a period ending on the last day on which this agreement is in effect, subject to proration based on the number of days elapsed in the current period as a percentage of the total number of days in such period.
(o) In consideration of the foregoing we will pay you, in the case of AB Emerging Markets Core Portfolio, a monthly fee at an annualized rate of 1.175% the first $1 billion, 1.05% of the excess over $1 billion up to $2 billion, 1.00% of the excess over $2 billion up to $3 billion, 0.90 of 1.00% of the excess over $3 billion up to $6 billion, and 0.85 of 1.00% of the excess over $6 billion of the average daily net assets of the AB Emerging Markets Core Portfolio managed by you. Your compensation for the period from the date hereof through the last day of the month in which the effective date hereof occurs shall be prorated according to the proportion which such period bears to such full month.  In the event of any termination of this agreement, your compensation will be calculated on the basis of a period ending on the last day on which this agreement is in effect, subject to proration based on the number of days elapsed in the current period as a percentage of the total number of days in such period.
(p)  In consideration of the foregoing we will pay you, in the case of AB Asia ex-Japan Equity Portfolio, a monthly fee at an annualized rate of 0.90% of the first $2.5 billion and 0.85% of the excess over $2.5 billion of the average daily net assets of the AB Asia ex-Japan Equity Portfolio managed by you. Your compensation for the period from the date hereof through the last day of the month in which the effective date hereof occurs shall be prorated according to the proportion which such period bears to such full month. In the event of any termination of this agreement, your compensation will be calculated on the basis of a period ending on the last day on which this agreement is in effect, subject to proration based on the number of days elapsed in the current period as a percentage of the total number of days in such period.
6.           This agreement shall become effective on the date hereof and shall continue in force until September 30, 1992 with respect to the AB Small Cap Growth Portfolio, August 2, 2012 with respect to the AB Market Neutral Strategy-U.S., August 31, 2013 with respect to AB Emerging Markets Multi-Asset Portfolio, December 8, 2013 with respect to AB Select US Equity Portfolio, December 15, 2013 with respect to AB All Market Growth Portfolio, July 1, 2016 with respect to AB Select US Long/Short Portfolio, March 1, 2016 with respect to AB Concentrated Growth Fund, October 22, 2016 with respect to AB Emerging Markets Growth Portfolio, November 12, 2016 with respect to AB Global Core Equity Portfolio, December 3, 2016 with respect to AB Small Cap Value Portfolio, December 18, 2016 with respect to AB All Market Income Portfolio,  March 4, 2017 with respect to AB All Market Alternative Return Portfolio, April 15, 2017 with respect to AB Concentrated International Growth Portfolio, July 29, 2017 with respect to AB International Strategic Core Portfolio, September 9, 2017 with respect to AB Emerging Markets Core Portfolio and December 3, 2017 with respect to AB Asia ex-Japan Equity Portfolio, and continue in effect thereafter with respect to a Portfolio provided that such continuance is specifically approved at least annually by our Board of Directors (including a majority of our directors who are not parties to this agreement or interested persons, as defined in the Investment Company Act, of any such party), or by vote of a majority of our outstanding voting securities (as defined in the Investment Company Act) of each Portfolio. This agreement may be terminated with respect to any Portfolio at any time, without the payment of any penalty, by vote of a majority of the outstanding voting securities (as so defined) of such Portfolio, or by a vote of a majority of our entire Board of Directors on sixty days' written notice to you, or by you with respect to any Portfolio on sixty days' written notice to us.
7.           This agreement may not be transferred, assigned, sold or in any manner hypothecated or pledged and this agreement shall terminate automatically in the event of any such transfer, assignment, sale, hypothecation or pledge. The terms "transfer", "assignment", and "sale" as used in this paragraph shall have the meanings ascribed thereto by governing and any interpretation thereof contained in rules or regulations promulgated by the Commission thereunder.
8.           (a) Except to the extent necessary to perform your obligations hereunder, nothing herein shall be deemed to limit or restrict your right, or the right of any of your employees, or any of the Directors of AllianceBernstein Corporation, general partner, who may also be a director, officer or employee of ours, or persons otherwise interested persons with respect to us (within the meaning of the Investment Company Act of 1940) to engage in any other business or to devote time and attention to the management or other aspects of any other business, whether of a similar or dissimilar nature, or to render services of any kind to any other corporation, firm, individual or association.
(b) You will notify us of any change in the general partners of your partnership within a reasonable time after such change.
9.           It is understood that, whether or not we follow the investment advice and recommendations given by you to us hereunder, the provisions contained herein concerning your compensation hereunder shall be binding on you and us.

 
If the foregoing is in accordance with your understanding, will you kindly so indicate by signing and returning to us the enclosed copy hereof.
Very truly yours,
 
AB CAP FUND, INC.

 
By:           /s/Stephen J. Laffey
Name:  Stephen J. Laffey
Title:    Assistant Secretary

Accepted: As of July 22, 1992, as amended September 7, 2004, December 15, 2004, December 23, 2009, August 2, 2010, October 26, 2010, July 6, 2011, August 31, 2011, December 8, 2011, December 15, 2011, September 27, 2012, December 12, 2012, March 1, 2014, October 22, 2014 November 12, 2014, December 3, 2014, December 18, 2014, March 4, 2015, April 15, 2015, July 1, 2015, July 29, 2015, September 9, 2015, December 3, 2015, November 1, 2016 and February 3, 2017.
 
 
AllianceBernstein L.P.

 
By:           /s/Emilie D. Wrapp
Name:   Emilie D. Wrapp
Title:     Assistant Secretary
 




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