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AllianceBernstein streamlines thematic funds

AllianceBernstein streamlines thematic funds

AllianceBernstein is streamlining its range of thematic funds by merging two of its strategies.

The is being merged into the AB SICAV I Thematic Research Portfolio. Both funds are managed by the Citywire + rated Daniel Roarty, the chief investment officer of AB's global growth and thematic team.

According to a letter to shareholders seen by our sister site, Citywire Selector, the decision was taken to merge the two funds as both funds have similar investment objects and policies and are managed by the same investment team.

The merger will take place on October 28 and has been approved by the board of directors of the fund.

Roarty started managing the AB FCP I Global Trends Portfolio in July 2011, according to its most recent factsheet, this fund had $807 million in assets under management.

Meanwhile, Roarty has been managing the Thematic Research fund since June 2013. This has $57 million in assets.

The AB FCP I-Global Growth Trends Portfolio returned 14.4 % in US dollar terms over the three years to the end of July 2016, while the AB SICAV I Thematic Research Portfolio returned 19.7% in US dollar terms over the same period. Both funds are benchmarked against the FTSE World TR USD, which rose 21.4% over this analysis period.

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