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AB FCP I-Global High Yield Portfolio I USD

Ranked 92 out of 242 in - Global High Yield over 12 months
All calculations are in USD unless stated

Managed by

Paul DeNoon

Paul DeNoon joined Alliance Capital as a portfolio manager in 1992 and currently takes charge of the massive AllianceBernstein-American Income Portfolio. The fund is 100% US Dollar denominated with DeNoon allocating between sectors based upon top-down analysis of global economic trends. Bottom-up in-house research drives the security selection. Prior to joining Alliance Capital, DeNoon spent six years working for Manufacturers Hanover Trust as an economist and ultimately portfolio manager. He started his career with two years as an economic research analyst at Lehman Brothers. DeNoon was born in Rochester, New York, in 1962 and holds a bachelor’s degree in economics from Union College, Schenectady, New York, and a masters degree in finance from New York University. Away from the office he is a keen skier and keeps himself busy coaching youth soccer.

Gershon Distenfeld

Gershon Distenfeld was born in 1975 in New York. He holds BA in finance from the Sy Syms School of Business at Yeshiva University in New York and is a CFA Charterholder. He started his career in July 1997 at Lehman Brothers as an emerging markets operations analyst, and in May 1998 joined Alliance Bernstein as a high yield trader. He then started managing high yield portfolios and is currently director of high yield. Outside of work, Gershon enjoys golf, backgammon and American football.

Douglas Peebles

Douglas J. Peebles graduated from Muhlenberg College in Pennsylvania with a BA and from Rutgers University in New Jersey with an MBA. He is the chief investment officer of Alliance Bernstein's fixed income business in New York and is directly responsible for supervising all fixed income mandates. Doug joined Alliance Bernstein in 1987, and became director of fixed income in 1997. From 2004 to 2008 he was co-head of fixed income before becoming CIO in August 2008. He is also chairman of the interest rates and currencies research review team which is responsible for setting interest rate and currency policy for all fixed income portfolios. Outside of fund management Doug enjoys playing golf.

Matthew Sheridan

Matthew Sheridan graduated from Syracuse University in New York with a BS in finance. He started his career with Alliance Bernstein in 1998 working in the structured asset securities group. Matthew is currently a vice president and portfolio manager within the global fixed income and emerging market debt team. He is a CFA Charterholder.

Objective

To produce high current income as well as overall total return. In seeking to achieve this objective, the Portfolio will invest primarily, and at any time at least two-thirds of its assets in, a portfolio of high yielding debt securities of issuers located throughout the world, including U.S. issuers and issuers in emerging market countries. In selecting its investments, the Portfolio intends to allocate its assets among three main types of investments: (i) high yielding non-Investment Grade debt securities of U.S. corporate issuers; (ii) non-Investment Grade debt securities of issuers located in emerging market countries; and (iii) sovereign debt obligations issued by emerging market countries.

Showing fund performance globally. You can view performance in individual jurisdictions.

Performance

Global High Yield over : 31/07/2016 - 31/07/2017
  • Rank 92/242 Total Return
  • Rank 64/242 Standard Deviation
  • Rank 78/242 Max Drawdown
Fund Name Currency Return
90 Legal & General High Income R Acc USD

10.4%

91 Schroder ISF Global High Yield A Acc USD

10.3%

92 AB FCP I-Global High Yield Portfolio I USD USD

10.3%

93 PIMCO GIS Global High Yield Bond Inst USD Acc

Currency exposure is hedged

Currency exposure is hedged

USD

10.3%

94 FSITC Global High Yield Bond Fund A USD

10.3%

Fund Name Currency Risk
62 Vontobel Fund - High Yield Bond H USD hdg

Currency exposure is hedged

Currency exposure is hedged

USD

2.9

63 Janus Global High Yield A USD Acc USD

2.9

64 Oaktree (Lux.) Fds Oaktree Global HY Bd FdB USD

2.9

64 AB FCP I-Global High Yield Portfolio I USD USD

2.9

66 Barclays GA - Global High Yield Bond M Inc USD USD

2.9

66 Amundi Fds Bond Global High Yield - AU (C) USD

2.9

66 JPM Global High Yield Bond A Acc EUR Hdg

Currency exposure is hedged

Currency exposure is hedged

EUR

2.9

66 NN (L) Global High Yield P Cap EUR Hdgiii

Currency exposure is hedged

Currency exposure is hedged

EUR

2.9

Fund Name Currency Loss
76 Danske Invest Global HY Bonds Acc, class EUR h

Currency exposure is hedged

Currency exposure is hedged

EUR

-0.8%

76 GAM Multibond - Global High Yield Bd-EUR B

Currency exposure is hedged

Currency exposure is hedged

EUR

-0.8%

78 AB FCP I-Global High Yield Portfolio I USD USD

-0.8%

78 Schroder Selection Glo Srs-Global HY A USD USD

-0.8%

80 Janus Global High Yield A USD Acc USD

-0.9%

80 Barings Dev and Em Mkts HY Bd A USD Inc USD

-0.9%

80 Spaengler IQAM Bond High Yield A

Currency exposure is hedged

Currency exposure is hedged

EUR

-0.9%

Total Return

Quarterly Performance

to 30/06/2017 Annual Q1 Q2 Q3 Q4
2017 3.6% 1.7%
2016 14.6% 3.4% 4.6% 4.4% 1.5%
2015 -4.9% 1.4% 0.0% -4.5% -1.7%
2014 2.1% 3.0% 2.6% -2.1% -1.3%
2013 5.7% 2.5% -2.4% 2.3% 3.3%
2012 16.8% 6.2% 0.7% 5.8% 3.2%
2011 0.7% 2.8% 1.0% -7.2% 4.6%
2010 16.3% 5.9% -0.8% 7.9% 2.6%
2009 61.7% 4.2% 24.3% 18.7% 5.1%
2008 -31.8% -3.3% 0.3% -9.0% -22.8%
2007 6.5% 2.8% 2.3% 1.4% -0.1%
2006 13.2% 4.4% -2.3% 4.9% 5.7%
2005 8.6% -1.1% 4.5% 3.8% 1.2%
2004 11.7% 2.5% -5.0% 5.7% 8.5%
2003 37.1% 8.9% 13.1% 3.9% 7.2%
2002 5.9% 6.0% -9.8% -1.5% 12.5%
2001 -9.9% -1.5% -4.4% -11.8% 8.4%
2000 -3.6% 6.5% -2.4% -1.0% -6.3%
1999 19.7% 4.1% 6.2% -0.3% 8.5%
1998 -15.1% 7.3% -5.0% -23.5% 8.8%
1997 -0.8%

Month by Month Performance

Returns Vs Risk

Registered For Sale In

  1. Austria
  2. Bahrain
  3. Chile
  4. Finland
  5. France
  6. Germany
  7. Iceland
  8. Luxembourg
  9. Netherlands
  10. Norway
  11. Peru
  12. Singapore
  13. Sweden
  14. Switzerland
  15. Taiwan
  16. United Kingdom

Fund Info

  • Launch date22/09/1997
  • Share Class size50Mn
  • Base currencyUSD
  • ISIN LU0083181239

Purchase Info

  • Min. initial investment1Mn
  • Min. regular additional investment0

Charges

Related News

AB’s $24.2bn HY team: how to avoid soft closure

Global high yield team addresses the fund’s capacity constraints.

$24.2bn HY team makes big switch into local currency EMD

Citywire + rated Gershon Distenfeld talks through the rationale for moving out of US high yield.

AB hands blockbuster bond team new income fund

Veteran unit given fresh ability to invest across asset classes and geographical regions.

$22.3bn HY team reveals offbeat housing market bet

Citywire + rated manager reveals little followed area of investment making up 10% of giant fund.

Dollar sell-off could force Fed’s hand, warns veteran Peebles

CIO for fixed income at AB says Trump victory could lead central bank to act quicker than markets are expecting.

‘It won’t work this time’: HY heavyweight bashes passives

AB’s Gershon Distenfeld says US HY is in a late credit cycle and  tracking products are the wrong approach.

Don’t bet on huge rise in HY defaults, says $17bn manager

Commodities-driven concerns won’t lead to more than a modest increase in blow-ups, says Gershon Distenfeld.

Dare to default: the case for letting governments go bust

Citywire + rated Paul DeNoon investigates whether sovereign debt still deserves to be sacrosanct or if examples need to be made.

Fed should have already started rate hikes, says $21bn HY manager

AB’s Gershon Distenfeld says the continuation of the current monetary policy may pave the way for potential asset bubbles.

Don’t despair over default talk, says $21bn HY manager

AllianceBernstein’s Gershon Distenfeld believes markets are over-estimating the impact of rate hikes on bond market blowouts.

...more...

Performance is for the period shown (month end to month end, bid/bid, gross income reinvested, calculated in the currency and currencies indicated).