Fundsters interested in the recent history and the future of AllianceBernstein
] may want to look at Morningstar
's "Fund Spy" column today. Katie Rushkewicz offers
an overview of the mutual fund firm's trials and tribulations, considering the various measures taken by CEO Peter Kraus
, who took over the asset manager almost two years ago (see The MFWire, 12/22/2008
"Two years into Kraus' tenure there are more, not fewer, uncertainties about the firm's stability and direction," Morningstar writes. "Significant changes on a variety of levels -- top executives, portfolio managers, employee incentives, risk management, and the firm's push into alternatives -- make it difficult to predict the outcome. Unfortunately, the odds are working against Kraus: Examples of asset managers who have successfully emerged from such a transformation are scarce."
Neil Anderson, Managing Editor
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