Bernstein fund aims for short end high yield
AllianceBernstein has launched a high yield fund investing in securities with an average duration of less than four years.
The $24.4m, Luxembourg-registered fund will make some of its investments in Europe, though it is currently 75% invested in US assets.The Short Duration High Yield Portfolio will focus on speculative grade corporate debt with ratings above CCC. It hedges its portfolio through protection on individual issuers, bond indices ...
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