netwealth adds AllianceBernstein fund to platform
netwealth has become the second platform to pick up an AllianceBernstein fund in recent weeks adding the manager's Managed Volatility Equities Fund to its line-up following the inclusion of the AllianceBernstein Global High Income Fund on HUB24.
AllianceBernstein have said the fund charges a management fee of 0.55 per cent and invests mainly in Australian equities and was for aimed at investors seeking lower volatility, reduced downside risk in falling equity markets, long-term capital growth and some income.
It also stated the fund was likely to lag a rising market but would benefit from the "low-volatility paradox" in which low-volatility stocks tend to outperform higher-volatility stocks on a risk-adjusted basis over time.
AllianceBernstein chief executive Jen Driscoll said the fund had achieved a total (net of fees) return of 26.6 per cent in its first year, with about half the volatility of the FTSE ASFA Australia 300 Index.
AUTHOR
Jason Spits
Recommended for you
Bell Financial Group has appointed a chief investment officer who joins the firm from Clime Investment Management.
Private markets funds with “unattractive practices” could find themselves facing enforcement activity with ASIC chair Joe Longo stating he cannot rule it out in the future.
Despite ASIC concerns about private credit funds being accessed via the advised channel, there are questions regarding how high its usage actually is among financial advisers.
Challenger has looked to the superannuation industry for its appointment of a group chief investment officer, a newly-created role.
