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062 E000700 0.0
062 F000700 0.0
062 G000700 0.0
062 H000700 0.0
062 I000700 0.0
062 J000700 0.0
062 K000700 0.0
062 L000700 0.0
062 M000700 0.0
062 N000700 0.0
062 O000700 0.0
062 P000700 0.0
062 Q000700 0.0
062 R000700 0.0
071 A000700 948807
071 B000700 402304
071 C000700 3383798
071 D000700 12
072 A000700 6
072 B000700 2889
072 C000700 23205
072 D000700 0
072 E000700 0
072 F000700 16599
072 G000700 4334
072 H000700 0
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072 J000700 861
072 K000700 0
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072 M000700 28
072 N000700 191
072 O000700 1
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<PAGE> PAGE 21
072 R000700 59
072 S000700 5
072 T000700 0
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072 V000700 0
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072 X000700 22344
072 Y000700 0
072 Z000700 3750
072AA000700 291065
072BB000700 42193
072CC010700 45493
072CC020700 0
072DD010700 177062
072DD020700 0
072EE000700 39192
073 A010700 0.9907
073 A020700 0.0000
073 B000700 0.2197
073 C000700 0.0000
074 A000700 74684
074 B000700 112579
074 C000700 0
074 D000700 0
074 E000700 164285
074 F000700 3563940
074 G000700 0
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074 J000700 7025
074 K000700 0
074 L000700 26306
074 M000700 918616
074 N000700 4868484
074 O000700 27285
074 P000700 3911
074 Q000700 0
074 R010700 0
074 R020700 0
074 R030700 0
074 R040700 930745
074 S000700 0
074 T000700 3906543
074 U010700 211435
074 U020700 0
074 V010700 18.48
074 V020700 0.00
074 W000700 0.0000
074 X000700 18061
074 Y000700 0
075 A000700 0
<PAGE> PAGE 22
075 B000700 3490622
076 000700 0.00
028 A010800 3856
028 A020800 81
028 A030800 0
028 A040800 3104
028 B010800 3297
028 B020800 99
028 B030800 0
028 B040800 902
028 C010800 3334
028 C020800 316
028 C030800 0
028 C040800 4727
028 D010800 12393
028 D020800 56
028 D030800 0
028 D040800 3177
028 E010800 3889
028 E020800 129
028 E030800 0
028 E040800 1697
028 F010800 6015
028 F020800 108
028 F030800 0
028 F040800 1593
028 G010800 32784
028 G020800 789
028 G030800 0
028 G040800 15200
028 H000800 0
062 A000800 Y
062 B000800 0.0
062 C000800 0.0
062 D000800 0.0
062 E000800 42.7
062 F000800 0.0
062 G000800 0.0
062 H000800 0.0
062 I000800 0.0
062 J000800 0.0
062 K000800 0.0
062 L000800 -0.1
062 M000800 14.2
062 N000800 0.0
062 O000800 43.2
062 P000800 0.0
062 Q000800 0.0
062 R000800 0.0
063 A000800 0
063 B000800 2.7
<PAGE> PAGE 23
064 A000800 Y
064 B000800 N
071 A000800 39018
071 B000800 15404
071 C000800 48193
071 D000800 32
072 A000800 6
072 B000800 1586
072 C000800 0
072 D000800 0
072 E000800 0
072 F000800 163
072 G000800 33
072 H000800 0
072 I000800 13
072 J000800 30
072 K000800 0
072 L000800 1
072 M000800 1
072 N000800 7
072 O000800 1
072 P000800 0
072 Q000800 0
072 R000800 3
072 S000800 1
072 T000800 0
072 U000800 1
072 V000800 0
072 W000800 1
072 X000800 254
072 Y000800 0
072 Z000800 1332
072AA000800 82
072BB000800 0
072CC010800 0
072CC020800 337
072DD010800 1332
072DD020800 0
072EE000800 202
073 A010800 0.2552
073 A020800 0.0000
073 B000800 0.0406
073 C000800 0.0000
074 A000800 2
074 B000800 0
074 C000800 5400
074 D000800 71308
074 E000800 0
074 F000800 0
074 G000800 0
074 H000800 0
<PAGE> PAGE 24
074 I000800 0
074 J000800 0
074 K000800 0
074 L000800 1264
074 M000800 5
074 N000800 77979
074 O000800 1022
074 P000800 43
074 Q000800 0
074 R010800 0
074 R020800 0
074 R030800 0
074 R040800 217
074 S000800 0
074 T000800 76697
074 U010800 6166
074 U020800 0
074 V010800 12.44
074 V020800 0.00
074 W000800 0.0000
074 X000800 397
074 Y000800 0
075 A000800 0
075 B000800 65665
076 000800 0.00
028 A010900 3446
028 A020900 111
028 A030900 0
028 A040900 4765
028 B010900 5660
028 B020900 124
028 B030900 0
028 B040900 2675
028 C010900 6932
028 C020900 270
028 C030900 0
028 C040900 7256
028 D010900 12980
028 D020900 76
028 D030900 0
028 D040900 5575
028 E010900 30986
028 E020900 177
028 E030900 0
028 E040900 5631
028 F010900 8515
028 F020900 148
028 F030900 0
028 F040900 18083
028 G010900 68519
028 G020900 906
<PAGE> PAGE 25
028 G030900 0
028 G040900 43985
028 H000900 0
062 A000900 Y
062 B000900 0.0
062 C000900 0.0
062 D000900 0.0
062 E000900 13.7
062 F000900 0.0
062 G000900 0.0
062 H000900 0.0
062 I000900 0.0
062 J000900 0.0
062 K000900 0.0
062 L000900 1.3
062 M000900 4.5
062 N000900 0.0
062 O000900 80.5
062 P000900 0.0
062 Q000900 0.0
062 R000900 0.0
063 A000900 0
063 B000900 1.9
064 A000900 Y
064 B000900 N
071 A000900 61674
071 B000900 16770
071 C000900 109250
071 D000900 15
072 A000900 6
072 B000900 2815
072 C000900 0
072 D000900 0
072 E000900 0
072 F000900 315
072 G000900 64
072 H000900 0
072 I000900 13
072 J000900 42
072 K000900 0
072 L000900 1
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072 O000900 1
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072 V000900 0
<PAGE> PAGE 26
072 W000900 2
072 X000900 464
072 Y000900 0
072 Z000900 2351
072AA000900 207
072BB000900 8
072CC010900 0
072CC020900 342
072DD010900 2351
072DD020900 0
072EE000900 123
073 A010900 0.2304
073 A020900 0.0000
073 B000900 0.0128
073 C000900 0.0000
074 A000900 65
074 B000900 0
074 C000900 2299
074 D000900 140056
074 E000900 0
074 F000900 0
074 G000900 0
074 H000900 0
074 I000900 0
074 J000900 300
074 K000900 0
074 L000900 3597
074 M000900 12
074 N000900 146329
074 O000900 1503
074 P000900 85
074 Q000900 0
074 R010900 0
074 R020900 0
074 R030900 0
074 R040900 472
074 S000900 0
074 T000900 144269
074 U010900 11541
074 U020900 0
074 V010900 12.50
074 V020900 0.00
074 W000900 0.0000
074 X000900 580
074 Y000900 0
075 A000900 0
075 B000900 129223
076 000900 0.00
028 A011000 4524
028 A021000 89
028 A031000 0
<PAGE> PAGE 27
028 A041000 3808
028 B011000 1925
028 B021000 101
028 B031000 0
028 B041000 1781
028 C011000 3618
028 C021000 186
028 C031000 0
028 C041000 1404
028 D011000 4064
028 D021000 57
028 D031000 0
028 D041000 2966
028 E011000 5353
028 E021000 113
028 E031000 0
028 E041000 2893
028 F011000 4023
028 F021000 81
028 F031000 0
028 F041000 6241
028 G011000 23507
028 G021000 627
028 G031000 0
028 G041000 19093
028 H001000 0
062 A001000 Y
062 B001000 0.6
062 C001000 0.0
062 D001000 0.0
062 E001000 22.6
062 F001000 0.0
062 G001000 0.0
062 H001000 0.0
062 I001000 0.0
062 J001000 0.0
062 K001000 0.0
062 L001000 0.4
062 M001000 5.1
062 N001000 0.0
062 O001000 71.3
062 P001000 0.0
062 Q001000 0.0
062 R001000 0.0
063 A001000 0
063 B001000 1.3
064 A001000 Y
064 B001000 N
071 A001000 34282
071 B001000 14869
071 C001000 59994
<PAGE> PAGE 28
071 D001000 25
072 A001000 6
072 B001000 1678
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072 D001000 0
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072 Y001000 0
072 Z001000 1398
072AA001000 70
072BB001000 19
072CC011000 0
072CC021000 129
072DD011000 1398
072DD021000 0
072EE001000 72
073 A011000 0.2295
073 A021000 0.0000
073 B001000 0.0123
073 C001000 0.0000
074 A001000 85
074 B001000 0
074 C001000 4982
074 D001000 72535
074 E001000 0
074 F001000 0
074 G001000 0
074 H001000 0
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074 K001000 0
074 L001000 1508
074 M001000 5
<PAGE> PAGE 29
074 N001000 79115
074 O001000 1014
074 P001000 45
074 Q001000 0
074 R011000 0
074 R021000 0
074 R031000 0
074 R041000 240
074 S001000 0
074 T001000 77816
074 U011000 6220
074 U021000 0
074 V011000 12.51
074 V021000 0.00
074 W001000 0.0000
074 X001000 297
074 Y001000 0
075 A001000 0
075 B001000 76214
076 001000 0.00
028 A011100 13057
028 A021100 0
028 A031100 0
028 A041100 1147
028 B011100 15913
028 B021100 0
028 B031100 0
028 B041100 965
028 C011100 13301
028 C021100 1364
028 C031100 0
028 C041100 3098
028 D011100 23692
028 D021100 0
028 D031100 0
028 D041100 935
028 E011100 15488
028 E021100 0
028 E031100 0
028 E041100 2148
028 F011100 14591
028 F021100 0
028 F031100 0
028 F041100 1758
028 G011100 96042
028 G021100 1364
028 G031100 0
028 G041100 10051
028 H001100 0
037 001100 Y
038 001100 201
<PAGE> PAGE 30
039 001100 N
040 001100 N
055 A001100 N
055 B001100 N
056 001100 Y
057 001100 N
062 A001100 N
062 B001100 0.0
062 C001100 0.0
062 D001100 0.0
062 E001100 0.0
062 F001100 0.0
062 G001100 0.0
062 H001100 0.0
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062 J001100 0.0
062 K001100 0.0
062 L001100 0.0
062 M001100 0.0
062 N001100 0.0
062 O001100 0.0
062 P001100 0.0
062 Q001100 0.0
062 R001100 0.0
071 A001100 108299
071 B001100 24708
071 C001100 321925
071 D001100 8
072 A001100 6
072 B001100 177
072 C001100 2823
072 D001100 0
072 E001100 0
072 F001100 2018
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<PAGE> PAGE 31
072 X001100 2938
072 Y001100 0
072 Z001100 62
072AA001100 5311
072BB001100 5007
072CC011100 28865
072CC021100 0
072DD011100 1443
072DD021100 0
072EE001100 0
073 A011100 0.0821
073 A021100 0.0000
073 B001100 0.0000
073 C001100 0.0000
074 A001100 2659
074 B001100 10069
074 C001100 0
074 D001100 0
074 E001100 7493
074 F001100 370651
074 G001100 0
074 H001100 0
074 I001100 0
074 J001100 0
074 K001100 0
074 L001100 2254
074 M001100 47
074 N001100 393173
074 O001100 3115
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074 R011100 0
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074 R031100 0
074 R041100 470
074 S001100 0
074 T001100 389081
074 U011100 16350
074 U021100 0
074 V011100 23.80
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074 X001100 7861
074 Y001100 0
075 A001100 0
075 B001100 326484
076 001100 0.00
SIGNATURE PAMELA RILEY
TITLE PARALEGAL
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the N-SAR
answer file for the six months ending March 31, 1997 and is qualified in its
entirety by reference to the N-SAR answer file for the six months ending March
31, 1997 for the Bernstein Government Short Duration Portfolio.
</LEGEND>
<SERIES>
<NUMBER> 01
<NAME> BERNSTEIN GOVERNMENT SHORT DURATION
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 135,303,555
<INVESTMENTS-AT-VALUE> 134,965,423
<RECEIVABLES> 1,860,984
<ASSETS-OTHER> 2,522
<OTHER-ITEMS-ASSETS> 486
<TOTAL-ASSETS> 136,829,415
<PAYABLE-FOR-SECURITIES> 2,282,349
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,327,471
<TOTAL-LIABILITIES> 3,609,820
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 135,473,346
<SHARES-COMMON-STOCK> 10,713,190
<SHARES-COMMON-PRIOR> 11,198,989
<ACCUMULATED-NII-CURRENT> 55,344
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1,981,676)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (338,132)
<NET-ASSETS> 133,219,595
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,058,200
<OTHER-INCOME> 0
<EXPENSES-NET> 470,255
<NET-INVESTMENT-INCOME> 3,587,945
<REALIZED-GAINS-CURRENT> 3,876
<APPREC-INCREASE-CURRENT> (498,584)
<NET-CHANGE-FROM-OPS> 3,093,237
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3,587,945
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,672,927
<NUMBER-OF-SHARES-REDEEMED> 2,290,567
<SHARES-REINVESTED> 131,841
<NET-CHANGE-IN-ASSETS> 6,582,543
<ACCUMULATED-NII-PRIOR> 55,344
<ACCUMULATED-GAINS-PRIOR> (1,985,552)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 337,160
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 470,255
<AVERAGE-NET-ASSETS> 135,659,235
<PER-SHARE-NAV-BEGIN> 12.48
<PER-SHARE-NII> 0.33
<PER-SHARE-GAIN-APPREC> (0.04)
<PER-SHARE-DIVIDEND> 0.33
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.44
<EXPENSE-RATIO> 0.70
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the N-SAR
answer file for the six months ending March 31, 1997 and is qualified in its
entirety by reference to the N-SAR answer file for the six months ending March
31, 1997 for the Bernstein Short Duration Plus Portfolio.
</LEGEND>
<SERIES>
<NUMBER> 02
<NAME> BERNSTEIN SHORT DURATION PLUS
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 604,854,203
<INVESTMENTS-AT-VALUE> 601,350,062
<RECEIVABLES> 10,287,246
<ASSETS-OTHER> 2,300,874
<OTHER-ITEMS-ASSETS> 751,696
<TOTAL-ASSETS> 614,689,878
<PAYABLE-FOR-SECURITIES> 22,446,315
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6,888,361
<TOTAL-LIABILITIES> 29,334,676
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 592,387,357
<SHARES-COMMON-STOCK> 47,098,798
<SHARES-COMMON-PRIOR> 43,129,203
<ACCUMULATED-NII-CURRENT> (451,365)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (3,698,272)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2,929,617)
<NET-ASSETS> 585,355,202
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 17,009,381
<OTHER-INCOME> 0
<EXPENSES-NET> 1,816,087
<NET-INVESTMENT-INCOME> 15,193,294
<REALIZED-GAINS-CURRENT> 3,085,665
<APPREC-INCREASE-CURRENT> (4,251,980)
<NET-CHANGE-FROM-OPS> 14,026,979
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 16,604,494
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 11,138,877
<NUMBER-OF-SHARES-REDEEMED> 7,799,103
<SHARES-REINVESTED> 488,913
<NET-CHANGE-IN-ASSETS> 47,107,462
<ACCUMULATED-NII-PRIOR> 959,835
<ACCUMULATED-GAINS-PRIOR> (6,783,937)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,396,170
<INTEREST-EXPENSE> 1,069
<GROSS-EXPENSE> 1,816,087
<AVERAGE-NET-ASSETS> 561,491,855
<PER-SHARE-NAV-BEGIN> 12.48
<PER-SHARE-NII> 0.34
<PER-SHARE-GAIN-APPREC> (0.02)
<PER-SHARE-DIVIDEND> 0.37
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.43
<EXPENSE-RATIO> 0.65
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the N-SAR
answer file for the six months ending March 31, 1997 and is qualified in its
entirety by reference to the N-SAR answer file for the six months ending March
31, 1997 for the Bernstein New York Municipal Portfolio.
</LEGEND>
<SERIES>
<NUMBER> 03
<NAME> BERNSTEIN NEW YORK MUNICIPAL
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 583,955,838
<INVESTMENTS-AT-VALUE> 591,016,652
<RECEIVABLES> 36,491,422
<ASSETS-OTHER> 931
<OTHER-ITEMS-ASSETS> 8,914
<TOTAL-ASSETS> 627,517,919
<PAYABLE-FOR-SECURITIES> 26,121,775
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,435,105
<TOTAL-LIABILITIES> 27,556,880
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 593,635,005
<SHARES-COMMON-STOCK> 45,033,119
<SHARES-COMMON-PRIOR> 40,396,394
<ACCUMULATED-NII-CURRENT> 9,519
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (789,332)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 7,060,814
<NET-ASSETS> 599,961,039
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 15,045,223
<OTHER-INCOME> 0
<EXPENSES-NET> 1,863,524
<NET-INVESTMENT-INCOME> 13,181,699
<REALIZED-GAINS-CURRENT> 460,480
<APPREC-INCREASE-CURRENT> (1,978,730)
<NET-CHANGE-FROM-OPS> 11,663,449
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 13,181,699
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7,598,512
<NUMBER-OF-SHARES-REDEEMED> 307,200
<SHARES-REINVESTED> 3,268,987
<NET-CHANGE-IN-ASSETS> 60,744,301
<ACCUMULATED-NII-PRIOR> 9,519
<ACCUMULATED-GAINS-PRIOR> (1,249,812)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 1,256,955
<GROSS-ADVISORY-FEES> 1,427,405
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,863,524
<AVERAGE-NET-ASSETS> 573,044,144
<PER-SHARE-NAV-BEGIN> 13.35
<PER-SHARE-NII> 0.31
<PER-SHARE-GAIN-APPREC> (0.03)
<PER-SHARE-DIVIDEND> 0.31
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 13.32
<EXPENSE-RATIO> 0.65
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the N-SAR
answer file for the six months ending March 31, 1997 and is qualified in its
entirety by reference to the N-SAR answer file for the six months ending March
31, 1997 for the Bernstein Diversified Municipal Portfolio.
</LEGEND>
<SERIES>
<NUMBER> 04
<NAME> BERNSTEIN DIVERSIFIED MUNICIPAL
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 947,164,217
<INVESTMENTS-AT-VALUE> 958,838,178
<RECEIVABLES> 0
<ASSETS-OTHER> 801
<OTHER-ITEMS-ASSETS> 31,203,835
<TOTAL-ASSETS> 990,042,814
<PAYABLE-FOR-SECURITIES> 26,147,127
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,974,643
<TOTAL-LIABILITIES> 29,121,770
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 950,307,629
<SHARES-COMMON-STOCK> 71,604,638
<SHARES-COMMON-PRIOR> 61,061,135
<ACCUMULATED-NII-CURRENT> 52,427
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1,184,578)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 11,673,961
<NET-ASSETS> 960,921,044
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 22,940,004
<OTHER-INCOME> 0
<EXPENSES-NET> 2,930,261
<NET-INVESTMENT-INCOME> 20,009,743
<REALIZED-GAINS-CURRENT> 72,265
<APPREC-INCREASE-CURRENT> (1,555,121)
<NET-CHANGE-FROM-OPS> 18,526,887
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 20,009,743
<DISTRIBUTIONS-OF-GAINS> 787,195
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 15,119,948
<NUMBER-OF-SHARES-REDEEMED> 413,387
<SHARES-REINVESTED> 4,989,832
<NET-CHANGE-IN-ASSETS> 140,525,735
<ACCUMULATED-NII-PRIOR> 52,427
<ACCUMULATED-GAINS-PRIOR> (469,648)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (469,648)
<GROSS-ADVISORY-FEES> 2,224,885
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,930,261
<AVERAGE-NET-ASSETS> 894,488,537
<PER-SHARE-NAV-BEGIN> 13.44
<PER-SHARE-NII> 0.30
<PER-SHARE-GAIN-APPREC> (0.01)
<PER-SHARE-DIVIDEND> 0.30
<PER-SHARE-DISTRIBUTIONS> 0.01
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 13.42
<EXPENSE-RATIO> 0.66
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the N-SAR
answer file for the six months ending March 31, 1997 and is qualified in its
entirety by reference to the N-SAR answer file for the six months ending March
31, 1997 for the Bernstein Intermediate Duration Portfolio.
</LEGEND>
<SERIES>
<NUMBER> 05
<NAME> BERNSTEIN INTERMEDIATE DURATION
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 1,948,571,344
<INVESTMENTS-AT-VALUE> 1,920,268,093
<RECEIVABLES> 36,429,517
<ASSETS-OTHER> 9,753,080
<OTHER-ITEMS-ASSETS> 3,196,347
<TOTAL-ASSETS> 1,969,647,037
<PAYABLE-FOR-SECURITIES> 254,829,466
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,924,666
<TOTAL-LIABILITIES> 259,754,132
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,724,894,566
<SHARES-COMMON-STOCK> 131,909,770
<SHARES-COMMON-PRIOR> 111,005,316
<ACCUMULATED-NII-CURRENT> (1,069,214)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 13,852,088
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (27,916,446)
<NET-ASSETS> 1,709,892,905
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 50,680,723
<OTHER-INCOME> 0
<EXPENSES-NET> 4,986,906
<NET-INVESTMENT-INCOME> 45,693,817
<REALIZED-GAINS-CURRENT> 20,510,942
<APPREC-INCREASE-CURRENT> (31,779,153)
<NET-CHANGE-FROM-OPS> 34,425,606
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 52,807,704
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 29,943,799
<NUMBER-OF-SHARES-REDEEMED> 10,088,351
<SHARES-REINVESTED> 1,049,478
<NET-CHANGE-IN-ASSETS> 258,116,769
<ACCUMULATED-NII-PRIOR> 6,044,673
<ACCUMULATED-GAINS-PRIOR> (6,658,854)
<OVERDISTRIB-NII-PRIOR> (69,275)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,839,506
<INTEREST-EXPENSE> 2,475
<GROSS-EXPENSE> 4,986,906
<AVERAGE-NET-ASSETS> 1,599,475,954
<PER-SHARE-NAV-BEGIN> 13.08
<PER-SHARE-NII> 0.38
<PER-SHARE-GAIN-APPREC> 0.06
<PER-SHARE-DIVIDEND> 0.44
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.96
<EXPENSE-RATIO> 0.62
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the N-SAR
answer file for the six months ending March 31, 1997 and is qualified in its
entirety by reference to the N-SAR answer file for the six months ending March
31, 1997 for the Bernstein California Municipal Portfolio.
</LEGEND>
<SERIES>
<NUMBER> 06
<NAME> BERNSTEIN CALIFORNIA MUNICIPAL
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 333,760,157
<INVESTMENTS-AT-VALUE> 337,818,260
<RECEIVABLES> 7,223,136
<ASSETS-OTHER> 578
<OTHER-ITEMS-ASSETS> 4,505
<TOTAL-ASSETS> 345,046,479
<PAYABLE-FOR-SECURITIES> 11,491,231
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 828,414
<TOTAL-LIABILITIES> 12,319,645
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 329,367,874
<SHARES-COMMON-STOCK> 24,531,630
<SHARES-COMMON-PRIOR> 21,046,745
<ACCUMULATED-NII-CURRENT> (31,860)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (691,815)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4,058,103
<NET-ASSETS> 332,726,834
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7,764,441
<OTHER-INCOME> 0
<EXPENSES-NET> 1,046,258
<NET-INVESTMENT-INCOME> 6,718,183
<REALIZED-GAINS-CURRENT> 15,419
<APPREC-INCREASE-CURRENT> (760,410)
<NET-CHANGE-FROM-OPS> 5,973,192
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6,718,183
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,498,437
<NUMBER-OF-SHARES-REDEEMED> 2,140,010
<SHARES-REINVESTED> 126,458
<NET-CHANGE-IN-ASSETS> 46,968,999
<ACCUMULATED-NII-PRIOR> (31,860)
<ACCUMULATED-GAINS-PRIOR> (707,234)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 777,120
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,046,258
<AVERAGE-NET-ASSETS> 311,883,831
<PER-SHARE-NAV-BEGIN> 13.58
<PER-SHARE-NII> 0.30
<PER-SHARE-GAIN-APPREC> (0.02)
<PER-SHARE-DIVIDEND> 0.30
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 13.56
<EXPENSE-RATIO> 0.67
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the N-SAR
answer file for the six months ending March 31, 1997 and is qualified in its
entirety by reference to the N-SAR answer file for the six months ending March
31, 1997 for the Bernstein International Value Portfolio.
</LEGEND>
<SERIES>
<NUMBER> 07
<NAME> BERNSTEIN INTERNATIONAL VALUE
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 3,567,446,765
<INVESTMENTS-AT-VALUE> 3,841,852,907
<RECEIVABLES> 33,331,818
<ASSETS-OTHER> 74,684,182
<OTHER-ITEMS-ASSETS> 918,614,691
<TOTAL-ASSETS> 4,868,483,598
<PAYABLE-FOR-SECURITIES> 27,285,361
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 934,655,024
<TOTAL-LIABILITIES> 961,940,385
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,413,678,710
<SHARES-COMMON-STOCK> 211,435,365
<SHARES-COMMON-PRIOR> 172,644,553
<ACCUMULATED-NII-CURRENT> (28,109,081)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 241,672,104
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 279,090,044
<NET-ASSETS> 3,906,543,213
<DIVIDEND-INCOME> 23,204,820
<INTEREST-INCOME> 2,889,406
<OTHER-INCOME> 0
<EXPENSES-NET> 22,343,730
<NET-INVESTMENT-INCOME> 3,750,496
<REALIZED-GAINS-CURRENT> 248,871,901
<APPREC-INCREASE-CURRENT> 45,493,010
<NET-CHANGE-FROM-OPS> 298,115,407
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 177,062,085
<DISTRIBUTIONS-OF-GAINS> 39,191,693
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 37,291,176
<NUMBER-OF-SHARES-REDEEMED> 10,226,140
<SHARES-REINVESTED> 11,726,658
<NET-CHANGE-IN-ASSETS> 775,284,952
<ACCUMULATED-NII-PRIOR> 145,202,508
<ACCUMULATED-GAINS-PRIOR> 31,991,896
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 16,598,576
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 22,343,730
<AVERAGE-NET-ASSETS> 3,490,621,511
<PER-SHARE-NAV-BEGIN> 18.14
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 1.53
<PER-SHARE-DIVIDEND> 0.99
<PER-SHARE-DISTRIBUTIONS> 0.22
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 18.48
<EXPENSE-RATIO> 1.29
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the N-SAR
answer file for the six months ending March 31, 1997 and is qualified in its
entirety by reference to the N-SAR answer file for the six months ending March
31, 1997 for the Bernstein Short Duration New York Municipal Portfolio.
</LEGEND>
<SERIES>
<NUMBER> 08
<NAME> BERNSTEIN SHORT DURATION NEW YORK MUNICIPAL
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 76,865,941
<INVESTMENTS-AT-VALUE> 76,707,925
<RECEIVABLES> 1,264,325
<ASSETS-OTHER> 1,839
<OTHER-ITEMS-ASSETS> 4,916
<TOTAL-ASSETS> 77,979,005
<PAYABLE-FOR-SECURITIES> 1,021,865
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 260,187
<TOTAL-LIABILITIES> 1,282,052
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 76,774,258
<SHARES-COMMON-STOCK> 6,166,012
<SHARES-COMMON-PRIOR> 4,693,828
<ACCUMULATED-NII-CURRENT> 172
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 74,373
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (158,016)
<NET-ASSETS> 76,696,953
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,586,357
<OTHER-INCOME> 0
<EXPENSES-NET> 254,041
<NET-INVESTMENT-INCOME> 1,332,316
<REALIZED-GAINS-CURRENT> 81,885
<APPREC-INCREASE-CURRENT> (336,812)
<NET-CHANGE-FROM-OPS> 1,077,389
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,332,316
<DISTRIBUTIONS-OF-GAINS> 201,610
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,645,539
<NUMBER-OF-SHARES-REDEEMED> 63,134
<SHARES-REINVESTED> 1,238,900
<NET-CHANGE-IN-ASSETS> 58,750,234
<ACCUMULATED-NII-PRIOR> 172
<ACCUMULATED-GAINS-PRIOR> 194,098
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 162,872
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 254,041
<AVERAGE-NET-ASSETS> 65,664,573
<PER-SHARE-NAV-BEGIN> 12.52
<PER-SHARE-NII> 0.26
<PER-SHARE-GAIN-APPREC> (0.04)
<PER-SHARE-DIVIDEND> 0.26
<PER-SHARE-DISTRIBUTIONS> 0.04
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.44
<EXPENSE-RATIO> 0.77
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the N-SAR
answer file for the six months ending March 31, 1997 and is qualified in its
entirety by reference to the N-SAR answer file for the six months ending March
31, 1997 for the Bernstein Short Duration Diversified Municipal Portfolio.
</LEGEND>
<SERIES>
<NUMBER> 09
<NAME> BERNSTEIN SHORT DURATION DIVERSIFIED MUNICIPAL
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 142,366,563
<INVESTMENTS-AT-VALUE> 142,355,201
<RECEIVABLES> 3,896,419
<ASSETS-OTHER> 65,230
<OTHER-ITEMS-ASSETS> 12,036
<TOTAL-ASSETS> 146,328,886
<PAYABLE-FOR-SECURITIES> 1,502,940
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 556,453
<TOTAL-LIABILITIES> 2,059,393
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 144,092,396
<SHARES-COMMON-STOCK> 11,541,226
<SHARES-COMMON-PRIOR> 9,516,156
<ACCUMULATED-NII-CURRENT> (9,678)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 186,596
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (11,362)
<NET-ASSETS> 144,269,493
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,814,988
<OTHER-INCOME> 0
<EXPENSES-NET> 464,195
<NET-INVESTMENT-INCOME> 2,350,793
<REALIZED-GAINS-CURRENT> 199,195
<APPREC-INCREASE-CURRENT> (342,470)
<NET-CHANGE-FROM-OPS> 2,207,518
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2,350,793
<DISTRIBUTIONS-OF-GAINS> 123,014
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,459,226
<NUMBER-OF-SHARES-REDEEMED> 3,506,392
<SHARES-REINVESTED> 72,236
<NET-CHANGE-IN-ASSETS> 25,173,531
<ACCUMULATED-NII-PRIOR> (9,678)
<ACCUMULATED-GAINS-PRIOR> 110,415
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 315,368
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 464,195
<AVERAGE-NET-ASSETS> 129,222,754
<PER-SHARE-NAV-BEGIN> 12.52
<PER-SHARE-NII> 0.23
<PER-SHARE-GAIN-APPREC> (0.01)
<PER-SHARE-DIVIDEND> 0.23
<PER-SHARE-DISTRIBUTIONS> 0.01
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.50
<EXPENSE-RATIO> 0.73
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the N-SAR
answer file for the six months ending March 31, 1997 and is qualified in its
entirety by reference to the N-SAR answer file for the six months ending March
31, 1997 for the Bernstein Short Duration California Municipal Portfolio.
</LEGEND>
<SERIES>
<NUMBER> 10
<NAME> BERNSTEIN SHORT DURATION CALIFORNIA MUNICIPAL
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 77,476,087
<INVESTMENTS-AT-VALUE> 77,516,989
<RECEIVABLES> 1,507,948
<ASSETS-OTHER> 84,871
<OTHER-ITEMS-ASSETS> 4,698
<TOTAL-ASSETS> 79,114,506
<PAYABLE-FOR-SECURITIES> 1,014,014
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 284,501
<TOTAL-LIABILITIES> 1,298,515
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 77,738,526
<SHARES-COMMON-STOCK> 6,220,014
<SHARES-COMMON-PRIOR> 5,819,554
<ACCUMULATED-NII-CURRENT> (20,838)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 51,181
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 40,902
<NET-ASSETS> 77,815,991
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,678,139
<OTHER-INCOME> 0
<EXPENSES-NET> 280,444
<NET-INVESTMENT-INCOME> 1,397,695
<REALIZED-GAINS-CURRENT> 51,380
<APPREC-INCREASE-CURRENT> (129,037)
<NET-CHANGE-FROM-OPS> 1,320,038
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,397,695
<DISTRIBUTIONS-OF-GAINS> 72,491
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,872,381
<NUMBER-OF-SHARES-REDEEMED> 1,521,847
<SHARES-REINVESTED> 49,926
<NET-CHANGE-IN-ASSETS> 4,890,723
<ACCUMULATED-NII-PRIOR> (20,838)
<ACCUMULATED-GAINS-PRIOR> 72,292
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 189,916
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 280,444
<AVERAGE-NET-ASSETS> 76,213,620
<PER-SHARE-NAV-BEGIN> 12.53
<PER-SHARE-NII> 0.23
<PER-SHARE-GAIN-APPREC> (0.01)
<PER-SHARE-DIVIDEND> 0.23
<PER-SHARE-DISTRIBUTIONS> 0.01
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.51
<EXPENSE-RATIO> 0.73
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the N-SAR
answer file for the six months ending March 31, 1997 and is qualified in its
entirety by reference to the N-SAR answer file for the six months ending March
31, 1997 for the Bernstein Emerging Markets Value Portfolio.
</LEGEND>
<SERIES>
<NUMBER> 11
<NAME> BERNSTEIN EMERGING MARKETS VALUE
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 377,585,537
<INVESTMENTS-AT-VALUE> 388,212,994
<RECEIVABLES> 2,254,397
<ASSETS-OTHER> 2,658,814
<OTHER-ITEMS-ASSETS> 47,201
<TOTAL-ASSETS> 393,173,406
<PAYABLE-FOR-SECURITIES> 3,114,592
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 977,787
<TOTAL-LIABILITIES> 4,092,379
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 378,244,014
<SHARES-COMMON-STOCK> 16,349,853
<SHARES-COMMON-PRIOR> 12,554,385
<ACCUMULATED-NII-CURRENT> (370,471)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 586,300
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 10,604,834
<NET-ASSETS> 393,173,406
<DIVIDEND-INCOME> 2,822,949
<INTEREST-INCOME> 176,805
<OTHER-INCOME> 0
<EXPENSES-NET> 2,937,413
<NET-INVESTMENT-INCOME> 62,341
<REALIZED-GAINS-CURRENT> 304,061
<APPREC-INCREASE-CURRENT> 28,864,790
<NET-CHANGE-FROM-OPS> 29,231,192
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,442,532
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,271,821
<NUMBER-OF-SHARES-REDEEMED> 539,399
<SHARES-REINVESTED> 63,046
<NET-CHANGE-IN-ASSETS> 115,156,895
<ACCUMULATED-NII-PRIOR> 1,009,720
<ACCUMULATED-GAINS-PRIOR> 282,239
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,018,058
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,937,413
<AVERAGE-NET-ASSETS> 326,484,437
<PER-SHARE-NAV-BEGIN> 21.82
<PER-SHARE-NII> 0.01
<PER-SHARE-GAIN-APPREC> 2.05
<PER-SHARE-DIVIDEND> 0.08
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 23.80
<EXPENSE-RATIO> 1.80
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
N-SAR Filing for Six Months Ending March 31, 1997
Sanford C. Bernstein Fund, Inc. (the "Fund")
CIK No. 0000832808
Sub-Item 77O Exhibit
International Value Portfolio (Series No. 7)
Transactions Effected Pursuant to Rule 10f-3
During the quarter ended December 31, 1996, 219,000 ordinary shares
of Deutsche Telekom AG were purchased for DM 6,241,500.
The securities were acquired from Goldman, Sachs & Co. The other
members of the underwriting syndicate were: Deutsche Morgan Grenfell,
Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co.
Incorporated, Salomon Brothers Inc., ABN AMRO Securities (USA) Inc.,
CS First Boston Corporation, Dresdner Kleinwort Benson North America LLC,
Bear, Stearns & Co. Inc., Alex, Brown & Sons Incorporated, Dean Witter
Reynolds Inc., Donaldson, Lufkin & Jenrette Securities Corporation,
A.G. Edwards & Sons, Inc., EVEREN Securities, Inc., J.P. Morgan Securities
Inc., PaineWebber Incorporated, Prudential Securities Incorporated, RBC
Dominion Securities Corporation, Scotia Capital Markets (USA) Inc., Smith
Barney Inc., Toronto Dominion Securities (USA) Inc., Advest, Inc., Arnhold
and S. Bleichroeder, Inc., Robert W. Baird & Co. Inc., Dain Bosworth,
Edward D. Jones & Co., Legg Mason Wood Walker Inc., McDonald & Co.,
Principal Financial Securities, Stephens Inc., Stifel, Nicolaus & Company, Inc.
and Sutro & Co. Incorporated.
The Board of Directors of the Fund has adopted procedures pursuant to
Rule 10f-3 of the Investment Company Act of 1940 (the "10f-3 Procedures").
In accordance with the 10f-3 Procedures, the Board of Directors was provided
with written certification of the satisfaction of each condition of the 10f-3
Procedures in connection with the purchase by the International Value Portfolio
of the Deutsche Telekom shares.
