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MTAA awards $200m mandate

MTAA awards $200m mandate

The industry fund Motor Trades Association of Australia (MTAA) has awarded AllianceBernstein Australia a $200 million global credit mandate.


In a statement, AllianceBernstein Australia said its global credit strategy fits into MTAA’s diversified fixed interest My Choice option.

“[The strategy] seeks stable returns over the short to medium term through reduced exposure to risk; it is therefore intended to be suitable for members who seek stable investment with limited capital growth opportunity," a statement from AllianceBernstein said.

“The service invests primarily in investment-grade credits and takes opportunistic positions in convertible securities, the sovereign debt of developed nations, agency bonds, asset-backed securities and high-yield and emerging-market debt, where permitted by client guidelines.

“It is also integral to the fixed-interest sectors of MTAA Super’s diversified investment options, including its MySuper product in which most of its members are invested," the statement added.

AllianceBernstein Australia also said its institutional channel has won new mandates during 2014 across Australian equities, global equities, emerging-market equities and global fixed income.

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