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
Vertically integrated wealth management businesses will be dismantled in light of damning evidence uncovered by the royal commission, accord...
The latest figures from APRA indicate that the customer-owned banks are outpacing the broader banking sector, says the Customer Owned Bankin...
Epoch chief executive Bill Priest has warned investors that no one would win in the US-China trade war. ...
