SEARCH
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
AGL is a failure of stewardship, according to the CEO of Climate Energy Finance. ...
Vanguard is terminating its multi-factor active ETF. ...
BetaShares has announced the launch of new ETFs to offer investors access to two of the world’s most significant alternative energy sourc...