AB picks up Prime Super mandate

AB picks up Prime Super mandate

Industry fund Prime Super has awarded AllianceBernstein (AB) a $140 million mandate to manage a short-duration global credit portfolio.


According to a statement, the portfolio is designed to protect Prime Super members’ fixed-income allocations in a volatile global interest-rate environment, in which there is an unusually wide dispersion between various countries in terms of their monetary policy settings and outlook.

“We are looking for a degree of protection from this uncertainty by investing in a portfolio of traditional fixed-income assets with relatively little duration, or exposure to interest-rate risk, but which has at the same time the potential for returns through a modest exposure to credit,” Prime Super chief executive Lachlan Baird said.

Commenting on the mandate win, AB chief executive for Australia, Jen Driscoll, said: "We are delighted to welcome Prime Super as a client and look forward to partnering with them in helping them to meet their members’ investment objectives."

Read more:

SMSF Association adds to board

Deloitte to further review CommInsure claims

Platypus Asset Management CIO steps down

New tranche of exchange-traded bonds released

'Unintended consequences' for dark trading rules

 

AB picks up Prime Super mandate
investordaily image
ID logo
promoted stories

Appointments

investordaily image

AMP names incoming chief risk officer

Jessica Yun

investordaily image

Antares Equities hires new director

Staff Reporter

Brad Fox

Former AFA CEO appointed to boutique board

Staff Reporter

Analysis

investordaily image

Warning lights flashing on Aussie equities

Roy Maslen

investordaily image

What’s in store for the economy in 2018?

Frank Uhlenbruch

ST Wong

Busting common passive investing myths

ST Wong