AllianceBernstein, the US asset manager in which French insurance giant AXA holds a controlling stake, has announced a new distribution agreement with the British arm of US financial services firm Raymond James.
As part of the agreement, and initial of nine AB funds, including AB’s high conviction equity, specialist fixed-income and multi-asset funds will be made available on Raymond James’ UK platform. Additional products from AB’s complete Luxembourg-domiciled range, are to be added in due course.
“The UK discretionary retail market is a key component of AB’s global growth plans and strategic partnerships, with companies such as Raymond James, form an integral part of these,” comments Jamie Hammond, head of EMEA Client Group at AB. “In the current environment of market uncertainty, funds such as those within our differentiated high conviction equity range provide wealth managers with a sophisticated solution to help meet their clients’ demands” he adds.
“Our parent company, Raymond James Financial, has a long-standing and successful relationship with AB in the US.” stresses Stuart Wright, head of Operations and Product Management at Raymond James Investment Services. “We are delighted to strengthen that relationship by partnering with AB here in the UK. It demonstrates our continued ability to offer access to premium asset managers with global expertise via our platform.”