NEW YORK, Aug. 3, 2020 /PRNewswire/ -- Richard Bernstein Advisors (RBA) announced today that its assets under management and advisement surpassed $10 billion at the end of July. The firm's growth was driven primarily by RBA's tactical ETF portfolios, as well as adding several large institutional clients. RBA has also seen consistent growth in the two mutual funds it sub-advises for Eaton Vance. The firm began managing money in mid-2010 and recently recorded its 10-year track record on many of its strategies.
Richard Bernstein, RBA's CEO and CIO, said "I started RBA in 2009 because I thought we were entering one of the greatest bull markets of our lifetimes. Fortunately, that turned out to be true. I am pleased with this milestone of $10 billion in 10 years, but more pleased investors have had the confidence to embrace highly contrarian strategies that focus on asset allocation. In addition, we've offered portfolios that are counter to the trends of high fees, lockups, and opaqueness and instead, provide tactical strategies that are transparent, lower fee, and liquid. Our investors haven't had to sacrifice performance to obtain those benefits."
RBA strategies are geared to global tactical asset allocation, global equity, U.S. equity, and income-oriented investment themes. The firm uses a top-down macro approach that focuses on fundamentals and is not event-driven.
John McCombe, President of RBA, noted "we are among the largest ETF strategists in the U.S and it's nice to see that a boutique manager can thrive amidst the mega firms. It's not a sales line to say we consider our investors as partners. We focus on service and offer investors full access to our investment team, intellectual capital via monthly market Insights and quarterly webinars, outsourced CIO capabilities that help advisors scale their own practices, and personalized client events. Solid performance combined with this type of transparency and investor support has helped us grow at a significantly higher rate than the overall industry."
About Richard Bernstein Advisors
Richard Bernstein Advisors LLC is an independent registered investment manager. RBA manages ETF asset allocation SMA portfolios at Merrill Lynch, Morgan Stanley, Ameriprise, UBS, Envestnet, as well as other brokerage and RIA platforms. RBA acts as sub-advisor for the Eaton Vance Richard Bernstein Equity Strategy Fund and the Eaton Vance Richard Bernstein All-Asset Strategy Fund and offers income and theme-oriented unit trusts and ETFs through First Trust. RBA also manages assets on behalf of several large institutional investors.
RBA's investment insights as well as further information about the firm and products can be found at www.RBAdvisors.com. Financial advisors and Institutional investors can also sign up to receive ongoing investment commentary and other alerts.
About Richard Bernstein
Richard Bernstein is the Chief Executive Officer and Chief Investment Officer of Richard Bernstein Advisors LLC. In his role as CIO, Rich leads RBA's Investment Committee, which manages all the firm's investments, and performs executive management functions as CEO.
Before founding RBA, Mr. Bernstein was the Chief Investment Strategist at Merrill Lynch. He was a member of the Institutional Investor "All-America Research Team" for 18 years, and is a member of the Institutional Investor "Hall of Fame," an honor given to only a select few of the nearly 15,000 analysts ever cited in the magazine. He presently serves as a Trustee of Hamilton College and of the Alfred P. Sloan Foundation. Mr. Bernstein is a member of the Advisory Board of the Journal of Portfolio Management and was previously an Adjunct Professor at the NYU/Stern Graduate School of Business. He has a BA in Economics from Hamilton College and an MBA from NYU.
About John McCombe
John McCombe is the President of Richard Bernstein Advisors. John helps set the overall strategy for RBA and is responsible for sales, new products, and distribution partners. Prior to joining RBA, Mr. McCombe was the Executive Vice President and Director of Retail Sales and Marketing at Cohen & Steers and President of Cohen & Steers Distributors. Over his 13 years there, he was the chief architect of their retail fund and distribution business. Mr. McCombe also spent 14 years at Merrill Lynch in a variety of sales and marketing roles, including, most notably, seven years in "retail syndicate" where he focused on closed-end fund IPOs. John holds a BS degree from Fordham University and an MBA from Pace University. John also serves as an adjunct professor at Fordham University's Gabelli's School of Business and he sits on several not-for-profit boards.
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