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Ivan Rudolph Shabinsky, AllianceBernstein

AllianceBernstein launches short duration high-yield bond fund


AllianceBerstein, the global asset management firm with some USD406billion in assets under management, has launched a short duration high-yield fund with an average duration of less than four years for investors reported Investment Europe this week. The Lux-domiciled fund will invest in high-yielding corporate debt securities and is designed for investors seeking reduced volatility in their fixed income allocations. This follows other short duration high-yield products launched by the likes of Neuberger Berman and Axa Investment Managers. Ivan Rudolph-Shabinksy (pictured)is to manage the AllianceBernstein Short Duration High Yield Portfolio, which will be benchmarked against the Barclays Capital Global High Yield Corporate 1-5 Year BB/B Index. It will target high quality issuers, excluding CCC and lower ratings, and hedge the fund using protection on individual issuers, bond indices or interest rate options. Rudolph-Shabinksy was quoted as saying: High Yield securities have seen significant ups and downs recently, but that doesn’t mean it’s time to get out of the market. These bonds are attractive relative to other fixed income sectors, especially as the corporate fundamentals of many companies remain strong.”      

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