Profile: AllianceBernstein Holding LP (AB)
7 Mar 2014
AllianceBernstein Holding L.P. (AllianceBernstein) is an investment firm that provides research, diversified investment management and related services globally to a range of clients. The Company’s clients include institutional clients, retail clients, private clients, institutional investors and issuers of publicly-traded securities. The Company also provides distribution, shareholder servicing and administrative services to its sponsored mutual funds. AllianceBernstein offers a range of investment products and services to its clients. The Company serves clients in global markets through operations in 46 cities in 23 countries. Its client base includes investors throughout the Americas, Europe, Asia, Africa and Australia. The Company’s Bernstein Research Services generate revenues from clients to whom it provides research, portfolio analysis and brokerage-related services. On May 31, 2011, AllianceBernstein acquired Pyrander Capital Management, LLC. On November 30, 2011, the Company acquired Taiwan International Investment Management Co. (TIIM).
To its institutional clients, the Company offers separately-managed accounts, sub-advisory relationships, structured products, collective investment trusts, mutual funds, hedge funds and other investment vehicles (Institutional Services). To its retail clients, AllianceBernstein offers retail mutual funds sponsored by AllianceBernstein and its subsidiaries, sub-advisory services to mutual funds sponsored by third parties, separately-managed account programs sponsored by financial intermediaries worldwide (Separately-Managed Account Programs) and other investment vehicles (collectively, Retail Services). To AllianceBernstein’s private clients, it offers diversified investment management services through separately-managed accounts, hedge funds, mutual funds and other investment vehicles (Private Client Services).
To institutional investors, AllianceBernstein offers research, portfolio analysis and brokerage-related services, and, to issuers of publicly-traded securities, it offers equity capital markets services (Bernstein Research Services). AllianceBernstein’s services include value equities, growth equities, fixed income securities, including taxable and tax-exempt securities; blend strategies, passive management, including both index and enhanced index strategies, and alternative investments, including hedge funds, currency management strategies and private capital (such as direct real estate investing). Its services also include asset allocation services, including dynamic asset allocation, customized target date funds, target risk funds and other strategies. The Company serves as sub-adviser for retail mutual funds, insurance products, retirement platforms and institutional investment products.
Institutional clients include unaffiliated corporate and public employee pension funds, endowment funds, domestic and foreign institutions and governments and various affiliates. Retail clients include the United States and offshore mutual funds, variable annuities, insurance products and sub-advisory relationships. Private clients include high-net-worth individuals, trusts and estates, charitable foundations, partnerships, private and family corporations and other entities. Institutional investors consist of those seeking high-quality research, portfolio analysis and brokerage-related services, and issuers of publicly-traded securities seeking equity capital markets services.
The Company serves its institutional clients primarily through AllianceBernstein Institutional Investments (Institutional Investments), a unit of AllianceBernstein, and through other units in its international subsidiaries. Institutional Services include actively managed equity accounts (including growth, value and blend accounts), fixed income accounts and balanced accounts (which combine equity and fixed income), as well as passive management of index and enhanced index accounts. These services are provided through separately-managed accounts, sub-advisory relationships, structured products, collective investment trusts, mutual funds, hedge funds and other investment vehicles.
AllianceBernstein’s institutional client base include unaffiliated corporate and public employee pension funds, endowment funds, domestic and foreign institutions and governments, and certain of its affiliates (AXA and its subsidiaries), as well as certain sub-advisory relationships with unaffiliated sponsors of various other investment products. The Company manages approximately 1,035 mandates for these clients, which are located in 41 countries.
The Company provides investment management and related services to a range of individual retail investors, both in the United States and internationally, through retail mutual funds sponsored by the Company and its subsidiaries; mutual fund sub-advisory relationships; Separately-Managed Account Programs, and other investment vehicles (Retail Products and Services). AllianceBernstein’s Retail Products and Services are designed to provide research-based investments that contribute to a well-diversified investment portfolio. It distributes these products and services through financial intermediaries, including broker-dealers, insurance sales representatives, banks, registered investment advisers and financial planners. These products and services include open-end and closed-end funds. They provide a range of investment options, including local and global value equities, growth equities, blend strategies and fixed income securities. They also include Separately-Managed Account Programs, which are sponsored by financial intermediaries. It also provides distribution, shareholder servicing, and administrative services for its Retail Products and Services.
AllianceBernstein’s United States Funds, which include retail funds, its variable products series fund (a component of an insurance product) and the retail share classes of the Sanford C. Bernstein Funds (principally Private Client Services products), offering 120 different portfolios to the United States investors. The Company’s Non-United States Funds are distributed internationally by local financial intermediaries to non- United States investors in most international markets by means of distribution agreements. AllianceBernstein Investments serves as the principal underwriter and distributor of the United States Funds. AllianceBernstein (Luxembourg) S.A. (AllianceBernstein Luxembourg), a Luxembourg management company and it wholly owned subsidiary, serves as the distributor for the Non-United States Funds. The Company’s Retail Products and Services include open-end mutual funds designed to fund benefits under variable annuity contracts and variable life insurance policies offered by unaffiliated life insurance companies (Sub-Advised Variable Products), and it sub-advises variable product mutual funds sponsored by affiliates.
Private Client Services
Through Bernstein GWM, the Company provides Private Client Services to high-net-worth individuals, trusts and estates, charitable foundations, partnerships, private and family corporations, and other entities by means of separately-managed accounts, hedge funds, mutual funds and other investment vehicles. Its Private Client Services are built on approximately 264 financial advisors based in 18 cities in the United States and in London, England.
Bernstein Research Services
Bernstein Research Services consist of fundamental research, quantitative services and brokerage-related services in equities and listed options provided to institutional investors, such as pension fund, hedge fund and mutual fund managers, and other institutional investors. Brokerage-related services are provided by SCB LLC in the United States and SCBL primarily in Europe, with research services also provided by Sanford C. Bernstein (Hong Kong) Limited (an indirect wholly owned subsidiary of AllianceBernstein, SCB Hong Kong), in Asia. It provides fundamental company and industry research along with research into securities valuation. In addition, the Company provides equity capital markets services to issuers of publicly traded securities, primarily in initial public offerings and follow-on offerings, acting as manager, syndicate member or selling group member.
The Company competes with AXA.
AllianceBernstein Holding LP
1345 AVENUE OF THE AMERICAS
NEW YORK NY 10105