Monday, 23rd November 2009

 

2 November 2009 - Press Briefing

US asset manager suffers large account losses in UK and Ireland

AllianceBernstein, the US asset manager which suffered last year due to its significant holdings in financial stocks, lost 48 accounts in the UK and Ireland in the first six half of this year, according to a report in The Wall Street Journal.

It is understood that they comprised 17 accounts in the firm’s value strategies worth £1.7bn (€1.9bn) of assets, and 31 accounts in its blend strategies worth £1.3bn.

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