Friday, 29 July 2016
Last updated 53 min ago
Apr 27 2012 | 4:35am ET
AllianceBernstein has launched a U.S. equity hedge fund helmed by a former Caxton Associates money manager.
The Select Absolute Alpha Portfolio is based on the strategy Kurt Feuerman ran for more than a decade at Caxton. He joined Alliance Bernstein a year ago as portfolio manager for U.S. equities.
"Last year was a turbulent one for US equities that created stiff headwinds for active managers, but given the current attractive valuations, we think stocks have the potential to continue to rise," Feuerman told Investment Europe. "Even if we see some slowing economic growth, it does not necessarily mean bad times ahead for stocks."
The new fund is domiciled in Luxembourg. It will have between 60 and 120 names in its portfolio.
Select Absolute's debut follows that in January of Feuerman's Select U.S. Equity Portfolio.