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
Australia’s biggest bank managed to deliver a 5 per cent increase in profit over the first quarter of financial year 2020. ...
Australians have ranked banking and finance as the worst ethically performing sector, with fund managers being rated among the 10 least pri...
Evans Dixon has commenced a top-down squeeze of its business, with cost reduction measures including cutting back on staff, following a “c...
Get notifications in real-time for staying up to date with content that matters to you.
