NEW YORK, Sept. 24, 2012 /PRNewswire/ -- Strong performance in diverse, client-focused offerings is driving ongoing business momentum and increasing industry recognition for AllianceBernstein's Institutional and Retail fixed income offerings in Europe.
In Institutional, AllianceBernstein's fixed income services have recently won several new engagements, including a prestigious mandate from the UK's Pension Protection Fund, a statutory corporation created by the Pensions Act of 2004 to insure defined benefit pension plans in the UK. This win comes on the heels of new institutional mandates awarded by UK and European clients in global, regional and emerging markets fixed income totalling over $3.5 billion* in the first half of 2012.
Arif Husain, head of fixed income in Europe , said, "While many in the industry take a fundamental approach to fixed income investing, we employ three core tenants: a global focus, an integrated approach combining quantitative and fundamental research, and finally, a dynamic investment discipline that seeks to capitalize on varying market premiums over time. The global recognition and new mandates we are winning across our fixed income platform demonstrate that our distinct approach to fixed income investing is delivering the results that clients demand in today's challenging economic environment."
In Retail, innovation with new products and strong investment performance in flagship funds have been key factors in the growth of AllianceBernstein's Luxembourg funds platform, which recently surpassed $50 billion in AUM. The firm's $21 billion** flagship Global High Yield Portfolio (LU0081336892) recently cemented its position as Europe's largest global high yield cross-border fund,*** and has outperformed its benchmark for the year-to-date, one-, three-, five- and ten-year periods. Meanwhile, two recently launched Luxembourg-domiciled fixed income funds have together attracted more than a half-billion dollars in inflows:
- RMB Income Plus Portfolio (LU0633139125), which offers Chinese currency exposure, has gathered over $440 million** since its May 2011 inception and won the Feri Eurorating 'Fund Innovation Award' for 2012.
- Short Duration High Yield Portfolio ( LU0654560878), launched in July 2011 , targets high yield-like returns with a lower risk profile, and passed the $110 million AUM** threshold.