Fundsters interested in the recent history and the future of
AllianceBernstein [
see profile] 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." 
Edited by:
Neil Anderson, Managing Editor
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