The post-crisis comeback by AllianceBernstein
is getting more press, this time in the Wall Street Journal
's Kirsten Grind reports
on the firm's push into bond funds under CEO Peter Kraus
, a "potentially risky move that is starting to pay off," she writes.
As Grind notes, AllianceBernstein is still losing AUM -- its assets have slipped from $800 billion in 2007 to $419 billion now -- but "outflows appear to be waning." Credit Krauss and the bond boom.
Since Kraus, a former Goldman exec, took over as chairman and CEO in 2008, AllianceBernstein has made a "striking" turn to bonds, launching 35 bond funds that now hold $9.4 billion in AUM. Overall, the percentage of the firm's AUM represented by fixed income has gone from 25 percent in 2007 to 57 percent now.
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