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
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