Nov 13 - Fitch Ratings has affirmed AllianceBernstein Emerging Market Debt (EMD) fund's
'Excellent' rating. The fund is managed by AllianceBernstein L.P..
AllianceBernstein EMD is a Luxemburg domicile fund of USD799m of assets as of end-September
2012 investing in dollar- and local currency-denominated emerging market (EM) sovereign, quasi
sovereign, corporate debt, currencies and derivatives.
The primarily bottom-up, investment process combines the independent inputs of fundamental
and quantitative research in a disciplined manner, while allowing portfolio managers (PM)
sufficient flexibility in the diversification of sources of risks and returns. The fund benefits
from the depth of AB's resources, including the eight strong, largely centralised in New York,
EMD team, led by Paul DeNoon, the fund's PM. Process and resources remained stable over the past
12 months, with increased resources and focus on emerging market corporate debt to be noted.
Launched in March 2006, the AllianceBernstein EMD fund has consistently outperformed the
Lipper category "Bond Emerging Market Global Hard Currency". The strong track record is
illustrated by a Lipper Leader of five (highest quintile) over five years and four over three
years. Year to end of October 2012, the fund returned 15.3% outperforming its benchmark and
Lipper category by 2.3 and 1.9% respectively.
AllianceBernstein, L.P., rated 'A+'/Stable/'F1' is a diversified asset manager (USD419bn
assets under management as at September 2012). AB has been investing in emerging market debt
since the early 1990s. AB manages USD24.5bn in emerging market debt strategies as at September
Fitch's Fund Quality Ratings combine Fitch's experience in qualitative fund analysis with
rankings and performance data from Lipper, a Thomson Reuters company. Fitch's Fund Quality
Ratings offer an independent, forward-looking assessment of a fund's key performance and risk
attributes and consistency of longer-term returns, relative to peer group or benchmarks. The
ratings focus on the fund manager's investment process, key fund performance drivers, risk
management, and the quality of the fund's operational infrastructure.
For more information, please see www.fitchspotlight.com/FQR.
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