American asset manager AllianceBernstein has secured a $250 million emerging markets value equities mandate from Australian superannuation fund VicSuper.
According to AllianceBernstein, its emerging markets value strategy aims to produce an attractive performance premium by investing in value opportunities within emerging markets.
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The strategy will identify 80 to 100 stocks that are trading at a discount to their long-term earnings-power potential by using fundamental research.
A proprietary country allocation approach will be used by AllianceBernstein to reduce risk while increasing long-term returns.
Tobacco manufacturing companies will be excluded from AllianceBernstein’s management of the portfolio in line with VicSuper’s investment policy.
Brad Karp, managing director of institutional relationships at AllianceBernstein, said: "We are delighted to receive this new mandate from VicSuper, which provides a strong endorsement of our global investment strengths and deepens our existing partnership-one that encourages the sharing of ideas to provide innovative solutions."
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By GlobalDataThe new mandate follows VicSuper’s investment in AllianceBernstein’s Franked Australian Value strategy in November 2012.
