AllianceBernstein closes UK-domiciled Concentrated Global Equity fund

Much larger SICAV remains open

Sorin-Andrei Dojan
clock • 1 min read

AllianceBernstein has closed the OEIC version of its ES AllianceBernstein Concentrated Global Equity fund after less than five years.

In an investor letter seen by Investment Week, the fund's authorised corporate director, Equity Trustees Fund Services, said the closure, which became effective on 26 July, was due to the inability to "attract meaningful shareholder investment". The vehicle, which launched in March 2020 and was managed by Dev Chakrabarti and held £3.4m in assets under management as of February this year. By May, this had fallen to £3.2m.  AllianceBernstein launches two growth equity strategies The ACD said the most significant investment in the fund continues to be that of the investment manager, A...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Funds

Hargreaves Lansdown unveils active Global Equity Income fund

Hargreaves Lansdown unveils active Global Equity Income fund

Partnered with Aegon, Baillie Gifford and JP Morgan

Linus Uhlig
clock 10 October 2024 • 1 min read
Hamilton Lane unveils global private infrastructure fund for wealth market

Hamilton Lane unveils global private infrastructure fund for wealth market

Sits on Evergreen platform

Beth Brearley
clock 08 October 2024 • 1 min read
Savvides takes over £1bn smaller mandate from Whitmore as investors flee funds

Savvides takes over £1bn smaller mandate from Whitmore as investors flee funds

AUM on both funds has dropped sharply

Eve Maddock-Jones
clock 08 October 2024 • 4 min read
Trustpilot