The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:AB Will Liquidate This $1.03B Fund Series Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, July 24, 2015

AB Will Liquidate This $1.03B Fund Series

News summary by MFWire's editors

The AB [profile] (AllianceBernstein) team is preparing to liquidate a $1.03-billion, decade-old series of mutual funds after launching a newer version last year.

In a 497 filed with the SEC on June 25, AB unveiled plans to liquidate the 12 mutual funds in its AB Retirement Strategy series. The target liquidation date is November 20, less than three months after the series will hit its tenth birthday.

The move comes after AB launched a new TDF mutual fund series last fall. The 11 new TDFs, the Multi-Manager Select funds, incorporate strategies from multiple asset managers, including but not limited to AB itself, and are partly powered by Morningstar. AB defined contribution chief Dick Davies confirms that it was "always the plan at the right time" to shut down the old TDFs sometime after launching the new ones.

The old Retirement Strategy series still holds about $1.03 billion, per Morningstar data, each of the 12 funds in that series currently has a negative Morningstar analyst rating and only one or two stars. The new Multi-Manager Select series is too new to have star ratings, and currently has about $55.1 million in AUM. 

Edited by: Neil Anderson, Managing Editor

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use