AB gets $140m Prime Super mandate

Global asset manager, AllianceBernstein (AB) has been awarded a $140 million mandate by superannuation fund Prime Super to manage a short-duration global credit portfolio.

The portfolio aims to protect the fund's members' fixed income allocations in an uncertain global interest-rate environment.

Commenting, Prime Super chief executive, Lachlan Baird said "we are looking for a degree of protection from this uncertainty by investing in a portfolio of traditional fixed-income assets with the relatively little duration, or exposure to interest-rate risk, but which has at the same time the potential for returns through a modest exposure to credit".

AB chief investment officer for global credit, Ashish Shah, said the portfolio offers conservative interest-rate risks similar to bank deposits with a more diversified credit risk profile, and high potential return thanks to investment in corporate bonds.

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