AllianceBernstein opens European equity Ucits fund – updated

AllianceBernstein has opened a Ucits III compliant European equity fund for primarily retail investors in Europe and Asia, following an absolute return strategy.

The European Flexible Equity Fund’s portfolio is designed to invest mainly in European equities, but up to 20% of it will invest in other equity markets including emerging markets, the firm said.

The fund is not determined by style or benchmark, and will exploit short as well as long-term opportunities, it added.

Derivatives will also be used to give the fund a means of adjusting its equity market exposure to preserve capital in adverse market conditions, it said.

Three AllianceBernstein portfolio managers are running the fund, including Michele Patri, who leads the team. Each portfolio manager is responsible for their own sector, in Patri’s case defensives. Chad Gex is covering cyclicals and William Johnston is responsible for financials.

On average, the team’s members hold 20 years’ investment experience and have spent 8 years with the firm.

The fund’s minimum investment requirement is €2000.

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