Insto mandate win for AllianceBernstein
Fund manager, AllianceBernstein has picked up an important institutional mandate.
The company announced this week that the Meat Industry Employees' Superannuation Fund (MIESF) has chosen the AllianceBernstein Managed Volatility Equities Fund as part of a strategy aimed at lowering volatility in members' portfolios.
The company described the fund as investing primarily in Australian equities and as being designed for investors seeking lower volatility, reduced downside risk in falling equity markets, the potential for long-term capital growth and some income, including franked Australian dividend income.
Commenting on the mandate, MISEF chief investment officer, Mary McLaughlin, said the super fund shared product's objective of delivering lower-volatility investment performance, giving its members comfort that their capital was growing steadily during the accumulation phase and mitigating the sequencing risk around retirement.
According to AllianceBernstein, the Fund aims to reduce volatility by identifying, and investing in, high-quality listed equity securities that have reasonable valuations, high-quality cash flows and relatively stable share prices.
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