NEW YORK, June 16 /PRNewswire-FirstCall/ -- AllianceBernstein today announced that the firm was selected by Transamerica Asset Management as the sub-advisor for their Dynamic Allocation Variable Portfolio. AllianceBernstein's Dynamic Asset Allocation (DAA) service is designed to reduce extreme outcomes in a portfolio in order deliver more consistent returns.
"Initially introduced within our own private-client business, Dynamic Asset Allocation is the result of a multiyear firm-wide research effort to provide all types of investors with a less volatile investment experience without sacrificing long-term return potential," says Seth J. Masters, Chief Investment Officer for Blend and Defined Contribution Services. "We're pleased that Transamerica is the first insurance company to select us to deliver this important strategy to their variable annuity clients."
AllianceBernstein's DAA approach seeks to de-risk portfolios when investors are not adequately compensated for bearing a high level of volatility in the market, and modestly increase exposure when opportunities outweigh the risks.
"Given the market volatility of the past several years, the variable annuity industry is extremely interested in thoughtful approaches to managing risk while at the same time preserving the investment merits of their portfolios," according to Richard A. Davies, Senior Managing Director of Defined Contribution and Sub-Advisory Relationships. "This mandate from Transamerica validates the practical application of our new toolset."
AllianceBernstein is a leading global investment-management firm that offers high-quality research and diversified investment services to institutional clients, individuals and private clients in major markets around the world. AllianceBernstein employs more than 500 investment professionals with expertise in growth equities, value equities, fixed-income securities, blend strategies and alternative investments and, through its subsidiaries and joint ventures, operates in more than 20 countries. AllianceBernstein's research disciplines include fundamental research, quantitative research, economic research and currency forecasting capabilities. Through its integrated global platform, AllianceBernstein is well-positioned to tailor investment solutions for its clients. AllianceBernstein also offers high-quality, in-depth research, portfolio strategy and brokerage-related services to institutional investors, and equity capital markets services to issuers of publicly-traded securities.
As of March 31, 2010, AllianceBernstein Holding L.P. (NYSE: AB) owned approximately 36.6% of the issued and outstanding AllianceBernstein Units and AXA, one of the largest global financial services organizations, owned an approximate 62.3% economic interest in AllianceBernstein.
©2010 AllianceBernstein L.P.