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MTAA Super awards $200m credit mandate
Industry fund Motor Trades Association of Australia (MTAA Super) has awarded a $200 million global credit mandate to AllianceBernstein.
AllianceBernstein's global credit strategy is an actively managed global bond strategy with a research-based investment approach.
It invests mostly in investment-grade credits and takes an opportunistic stance in convertible securities, the sovereign debt of developed nations, agency bonds, asset-backed securities and high-yield and emerging-market debt where allowed by client guidelines.
"The strategy fits into MTAA Super's diversified fixed interest My Choice option, which seeks stable returns over the short-to-medium term through reduced exposure to risk," AllianceBernstein said.
"It is therefore intended to be suitable for members who seek stable investment with limited capital growth opportunity."
It also plays a vital role in the fixed interest sectors of MTAA Super's diversified investment options, including its MySuper product.
Alliance Bernstein Australia said its institutional channel has won new mandates during 2014 across Australian equities, global equities, emerging-market equities and global fixed income.
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