The strategy by AllianceBernstein (AB) to build a presence in the retail market in Australia took another step forward today when the global asset manager announced that it has appointed Stephen Nguyen as Regional Manager, based in Melbourne.
Stephen, who was previously a Business Development Manager at AMP, will report to Ben Moore, AB’s Sydney-based National Retail Sales Manager.
“We’re delighted that Stephen is joining us at such an exciting time, when our Australian retail strategy is building up a real head of steam,” said Jen Driscoll, Chief Executive Officer—Australia.
“Stephen and Ben have worked together in previous roles, and that shared experience is an excellent foundation for the value proposition they will offer to our financial-adviser client base, based on teamwork, market connectivity and a consultative approach.”
Prior to the five and a half years Stephen spent at AMP, he was a Business Development Manager at Aviva for four and a half years. He brings to AB extensive experience across both institutionally aligned and independent advice networks.
AB has diversified its traditionally institution-focused presence in Australia with the launch of retail funds offering financial advisers and their clients a choice across fixed-income and equity strategies according to the investors’ return objectives and risk profiles.
They include the AllianceBernstein Managed Volatility Equities Fund, which made a total fund return of 12.55% in the year to August 31, compared to the benchmark FTSE ASFA Australia 300 Index—Tax Exempt Index, which lost 2.23%. The Fund has a ‘Recommended’ rating from Lonsec.
Other funds in the line-up include the AllianceBernstein Emerging Consumer Fund and the AllianceBernstein Global High Income Fund, which have ‘Recommended’ ratings from Lonsec and Zenith Investment Partners respectively.
