AllianceBernstein has announced it is launching a Ucits version of its US equity absolute return fund which will be run by veteran manager Kurt Feuerman.
The Luxembourg-domiciled Select Absolute Alpha Portfolio mirrors a strategy that was originally launched on the US market in 1999 and combines fundamental analysis and macro insights with an unconstrained investment approach.
This is the second fund Feuerman, who has 30 years' investment experience, has taken charge of since joining the firm in June 2011. He was named lead manager on the AllianceBernstein Select US Equity Portfolio in January this year.
The fund’s stock selection will focus on companies Feuerman (pictured above) and his team believe will be positively impacted by events such as the dissipation of fear over a stock’s outlook, or shareholder-friendly corporate actions like dividend payments and share buyback.
‘Last year was a turbulent one for US equities that created stiff headwinds for active managers, but given the current attractive valuations, we think stocks have the potential to continue to rise,’ said Feuerman.
‘Even if we see some slowing economic growth, it does not necessarily mean bad times ahead for stocks. However, it will have a major impact on which types of stocks will outperform and we need to be flexible to adjust our portfolio accordingly.’