AllianceBernstein launches US equity fund for ex-Caxton Associates manager
AllianceBernstein has launched a US equity fund focused on large- and mid-caps. This marks the first Luxembourg domiciled fund in Europe for star manager Kurt Feuerman, who moved from US hedge fund Caxton Associates mid last year.
The European launch of his Select US Equity Portfolio will mix bottom-up analysis amd macro views, to end with between 25 and 75 positions.
Feuerman joined AllianceBernstein in June from Caxton, and has nearly 30 years of industry experience.
His strategy is unconstrained by market-cap, style and sector.
The team, which includes five analysts, looks for companies with strong earnings growth and reasonable valuations; understandable, transparent business models and strong management teams; shareholder-friendly corporate actions such as dividends and share buybacks; and catalysts such as earnings surprises.
Feuerman said slowing economic growth would not necessarily mean bad news for stocks, though it would significantly affect which types of stocks outperformed.
Richard Haxe, AllianceBernstein’s head of EMEA clients, said Feuerman’s abilities would be “of great interest to European investors wanting US equity exposure”.
He won the accolade of mutual-fund manager of the year in Barron’s 1998 annual rankings.