AllianceBernstein has launched its Europe (ex UK) equity strategy as an Open Ended Investment Company (OEIC) fund.
The ES AllianceBernstein Europe (ex UK) Equity OEIC is based on a similar strategy which has been running since January 2004, managed by Tawhid Ali, CIO of European Value Equities, and Andrew Birse, portfolio manager of European Value equities, since January 2012 and run out of AB's London office.
The Strategy employs an unconstrained approach to investing across Europe, excluding the UK. It is a relatively concentrated portfolio, consisting of 40-60 holdings. It takes an active, bottom up stock and security selection approach and evaluates the environmental, social and governance criteria of each company to assess both risk and opportunity.
The fund will leverage the expertise of AB's $3.5bn European Value Equities team and build on the group's proven track record of portfolio construction and investment process. The investment team employs a private equity-like mindset by applying internal rate of return techniques on each stock, while also adding a global perspective to its European research through collaboration among analysts across regions.
Jamie Hammond, CEO of AllianceBernstein, EMEA said: "Our European equity team has been running its strategy with an impressive track record for over eight years as a Luxemburg SICAV structure. As UK investors traditionally have a large home allocation, a tailored Europe (ex-UK) strategy meets the needs of the UK market better and we already have clients interested in our approach. We have launched this fund in a UK domiciled OEIC structure to meet this demand and aim to add further OEIC structures for the UK market soon which, we believe, provide a real differentiating approach for UK investors."