AllianceBernstein launches European absolute return fund

AllianceBernstein has unveiled a European Flexible Equity fund, a UCITS III absolute return strategy designed to adapt its exposure in accordance with the market environment.

The fund has a concentrated active equity portfolio, designed to dynamically adjust its equity market exposure using derivatives to preserve capital in adverse market conditions. The European Flexible Equity fund is headed up by Michele Patri, responsible for defensives, Chad Gex, in charge of cyclicals, and William Johnston on financials. The team have an average of 20 years investment experience and eight years within AllianceBernstein. The fund will primarily invest in European equities, but up to 20% will be invested in other equity markets. It will be benchmark-agnostic with the ...