Investing for longer increases the likelihood of positive returns. Over a period of 5 years or more, investments usually give you a higher return compared to cash savings. But investments can go down as well as up in value. So you could get back less than you put in.
Fund Objective:
The Fund seeks to achieve a high return on your investment for the degree of risk taken both by earning income and by increasing the value of your investment over the long term.
Manager name
AllianceBernstein (Luxembourg) S.a r.l.
Manager start date
29 July 2011
Manager Biography
Gershon M. Distenfeld, Senior Vice President, is Co-Head of Fixed Income, Director of Credit and a member of the Operating Committee. As Co-Head of Fixed Income, he is responsible for the management and strategic growth of AB’s fixed-income business. As Director of Credit, Distenfeld oversees all of AB’s credit-related strategies, including all global and regional investment-grade and high-yield strategies, as well as their associated investment strategy, activities and portfolio-management teams. In this capacity, he leads AB’s internal Credit Research Review Committee, the primary investment policy and decision-making committee for all credit-related portfolios the firm manages. Distenfeld also co-manages AB’s multiple-award-winning High Income Fund, named “Best Fund over 10 Years” by Lipper from 2012 to 2015, and the multiple-award-winning Global High Yield and American Income portfolios, flagship fixed-income funds on the firm’s Luxembourg-domiciled fund platform for non-US investors. He also designed and is one of the lead portfolio managers for AB’s Multi-Sector Credit Strategy, which invests across investment-grade and high-yield credit sectors globally. Distenfeld is the author of a number of published papers, including one on high-yield bonds being attractive substitutes for equities and another on the often-misunderstood differences between high-yield bonds and loans. Distenfeld joined AB in 1998 as a fixed-income business analyst, and served as a high-yield trader (1999–2002) and high-yield portfolio manager (2002–2006) before being named director of High Yield in 2006. He began his career as an operations analyst supporting Emerging Markets Debt at Lehman Brothers. Distenfeld holds a BS in finance from the Sy Syms School of Business at Yeshiva University, and is a CFA charterholder. Location: New York
Charges applied by the fund management company for investing in their fund. Please note that Investment Managers may charge each time you buy new units or shares in a fund or trust. Where Investment Managers would have an entry charge, we will negotiate to have it waived so you will not be charged.
1.50%
Ongoing Charges:
The fund manager
The annual charge paid to a fund manager to cover the costs of running the fund. It is an estimate based on the actual amount charged in the previous year.
0.75%
Performance Fee:
The fund manager
A performance fee joins up the interest of the fund manager and their investors. A performance fee is taken when the fund beats pre-set conditions.
0%
Typical transaction cost:
The fund manager
The costs of dealing within a fund, which the Investment Manager must pay to continue managing the assets. This includes where the Manager decides to sell one stock and buy another. The costs will vary from one fund to another based on how often the Investment Manager trades and the costs applied when trading.
ESG stands for Environmental, Social and Governance and is an approach for evaluating to what extent a company works towards social goals. For investors this can be used in order to understand how their funds and the assets they are made up of work towards these goals and use that information to help make sustainable investment choices.
This product is based overseas and is not subject to UK sustainable investment labelling and disclosure requirements.
The FCA website sets out further information in relation to the sustainability labelling and disclosure requirements.
Find out more about responsible investing with Halifax including ESG (Environmental, Social and Governance).
Important information
Halifax Share Dealing Limited. Registered in England and Wales no. 3195646. Registered Office: Trinity Road, Halifax, West Yorkshire, HX1 2RG. Authorised and regulated by the Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN under registration number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.
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