AllianceBernstein has partnered with Chi-X Australia to make its AB Managed Volatility Equities fund available on the exchange.
The managed fund (MVE Class) was the first equity fund to be quoted on exchange by AllianceBernstein.
It aimed to achieve returns that exceeded the S&P/ASX 300 Accumulation index after fees over the medium to long term. Mainly investing in Australian listed shares, it could also hold 20% of its assets in other developed markets and could hold up to 20% in cash.
This was particularly targeting those investors who were retirees or were approaching retirement and needed reduced exposure to market drawdowns.
Vic Jokovic, chief executive of Chi-X Australia, said: “A challenging global investment landscape, including historically unusual policy settings and unforeseen events such as COVID-19, have added to the risks that Australian investors face. We are pleased to welcome AllianceBernstein and AMVE on to Chi-X. This adds to a growing list of Active ETFs on our platform that aim to deliver greater diversity to the portfolios of Australian investors”.
AllianceBernstein Australia chief executive, Jen Driscoll, said: “AB developed AMVE seven years ago in collaboration with a major Australian superannuation fund which wanted to give its members a smoother, but still rewarding, return profile in volatile markets. Our partnership with Chi-X is an opportunity to make this innovative and successful strategy more readily accessible”.
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