AllianceBernstein has picked up a key mandate from major fund VicSuper.
The global asset manager announced this week that it had secured a $250 million active emerging markets value equities mandate from the fund.
Commenting on the arrangement, AllianceBernstein chief investment officer – emerging markets, Henry D'Auria said the latest mandate followed on from VicSuper's investment in the company's Frank Australian Value strategy in November, last year.
AllianceBernstein's Emerging Markets Value strategy seeks to generate an attractive performance premium by investing in value opportunities in emerging markets using intensive fundamental research to select some 80 to 100 stocks that are trading at a discount to their underlying long-term earnings.
In keeping with VicSuper's investment policy, AllianceBernstein's management of the portfolio will exclude companies that manufacture tobacco products.
