AllianceBernstein (AB) has launched a new fixed income fund which can invest flexibly across multiple regions and sectors, Citywire has learned.

The AB SICAV I – Global Income fund will be managed by Paul DeNoon, Gershon Distenfeld, Jorgen Kjaersgaard and Citywire A-rated Matthew Sheridan.

Distenfeld and DeNoon are co-managers alongside Douglas Peebles on the $22.3 billion AB Global High Yield Portfolio fund.

A spokesman for the US asset management company said the fund will hold investment grade and high yield corporate bonds, emerging market debt, securitised credit and government bonds in developed markets.

The new fund has US dollars as its base currency and will not be benchmark constrained. It aims to maintain the balance between duration and credit risk whilst maintaining the flexibility in asset allocation to find the best returns.

The fund is currently available for sale in Luxembourg and will be registered in other countries according to client demand.

The US group grabbed headlines at the start of May after it announced it had fired its CEO and chairman Peter Kraus as well as several board members.