AllianceBernstein (AB) has launched the Multi-Strategy Alpha and Diversified Equity Alpha alternative Ucits funds, to combine multi-manager ideas with daily liquidity.
The Multi-Strategy Alpha fund will invest in long/short equity, special situations/opportunistic, relative value credit and global macro strategies.
The Diversified Equity Alpha fund is a global long/short fund.
The funds will use the expertise of AB’s Alternative Investment Management Group. Led by Marc Gamsin and Greg Outcalt, the Group manages some $12.5bn in alternative assets on behalf of institutional clients and high net worth individuals.
Chris Bricker, head of Alternatives at AB said: “Alternative Ucits strategies which provide access to high quality managers without an incentive fee are resonating with European investors. These new funds seek attractive diversification with lower volatility than equity markets, and benefit from daily risk management. This European launch underpins the next phase for AB’s rapidly growing $25bn alternatives platform.”
AB is 36.0% owned by AllianceBernstein Holding and 62.7% owned by AXA, according to data to the end of June.