AllianceBernstein L.P. (AllianceBernstein) has announced that as part of its commitment to provide greater flexibility to the defined contribution plan market, the firm will now offer a new non-revenue share class for a select group of mutual funds.
The new share class, called Z shares, will be AllianceBernstein funds’ lowest-priced share class and available for purchase on October 16, 2013 for the following funds:
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- AllianceBernstein Core Opportunities Fund (ADGZX)
- AllianceBernstein Discovery Value Fund (ABSZX)
- AllianceBernstein Equity Income Fund (AUIZX)
- AllianceBernstein Global Bond Fund (ANAZX)
- AllianceBernstein Growth and Income Fund (CBBZX)
- AllianceBernstein High Income Fund (AGDZX)
Craig Lombardi, managing director and national sales manager for AllianceBernstein’s Defined Contribution Investment-Only Business, said: "Clients are increasingly demanding a simpler and more transparent fee structure, so we’ve created these new shares to meet that growing demand. With this new low-cost share class, we can offer our clients flexible pricing options."
AllianceBernstein’s new Z shares will be offered without 12b-1 fees or sub transfer agency fees and there is no minimum initial investment requirement. In addition, AllianceBernstein will not make distribution services and educational support payments in respect of Class Z shares.
As part of its continued efforts to help financial advisors strengthen the service they provide, and in conjunction with the launch of Z shares, AllianceBernstein has also introduced a series of enhancements to the retirement section of its website.
The newly revamped Retirement Leaders website provides a select group of top retirement-focused advisors the tools and resources they need to build their business.
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By GlobalDataThe site has a personalized home screen for these advisors, with access to key retirement practice-management resources, industry trends, interactive tools, recent legal and regulatory updates, tools to help build investment menus and other timely topics.
