Don't call it a comeback; AllianceBernstein
] has been here for years.
Actually, calling it a comeback probably makes sense. As Barron's reports
, the New York City-based mutual fund shop is finally making moves to recover from losses in the 2008 financial crisis.
Barron's makes special note of the high-performing AllianceBernstein High Income fund
, which is beating rivals.
"We're making great progress in repositioning our firm for a strong future," says CEO Peter Kraus
The article, written by Barron's reporter Steve Garmhausen, details just how the shop fell so far — bad bets under a former CEO led to massive outflows of money, including one fund which has shrunk from $13.1 billion to $700 million since 2007.
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