NEW YORK, July 22, 2011 /PRNewswire/ -- AllianceBernstein
today announced that the firm has been selected to provide its
Dynamic Asset Allocation (DAA) services across a number of annuity
products offered by several major insurance companies. DAA is
designed to reduce extreme outcomes in a portfolio in order to
deliver more consistent returns.
"We are delighted to have DAA included so broadly within our
insurance and subadvisory channels," said Michael Hart, managing director for subadvisory
relationships at AllianceBernstein. "This demonstrates the
tremendous potential for DAA in the insurance industry, where our
risk management and asset allocation expertise can substantially
improve the customer experience, especially given the periods of
market volatility over the past several years."
Daniel Loewy, co-chief investment
officer and director of research for the firm's DAA strategies,
said, "DAA is the result of a multiyear firm-wide research effort
to provide investors with a less volatile investment experience
without sacrificing long-term return potential. Our 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."
The insurance companies that have committed to
AllianceBernstein's DAA services are:
- AXA Equitable, which is applying the DAA strategy in a
new subadvised portfolio to further enhance investment choices in
its variable annuity products with guaranteed living benefits.
- MetLife, through its affiliate MetLife Advisers, LLC,
which created a customized portfolio incorporating DAA for its
recent GMIB/EDB max rider launch.
- Ohio National and SunLife, each of which in the
last several months committed to the firm’s new DAA Variable
Insurance Trust (VIT), where we apply the Dynamic Asset Allocation
tool set to an equity-tilted globally diversified portfolio.
- Transamerica, which launched its partnership with the
DAA service just under a year ago, making it available across a
number of their variable annuity products.
Designed for all types of investors, DAA was initially launched
within AllianceBernstein's Private Client business, where
approximately 60% of eligible clients signed up for DAA in its
first year.
About AllianceBernstein
AllianceBernstein is a leading global investment management firm
that offers high-quality research and diversified investment
services to institutional investors, individuals and private
clients in major world markets.
At June 30, 2011,
AllianceBernstein Holding L.P. (NYSE: AB) owned approximately 37.8%
of the issued and outstanding AllianceBernstein Units and AXA, one
of the largest global financial services organizations, owned an
approximate 62.4% economic interest in AllianceBernstein.
Additional information about AllianceBernstein may be found on
our internet site, www.alliancebernstein.com.
SOURCE AllianceBernstein