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Rating:WSJ Gives Kudos to Peter Kraus Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, October 25, 2012

WSJ Gives Kudos to Peter Kraus

News summary by MFWire's editors

The post-crisis comeback by AllianceBernstein is getting more press, this time in the Wall Street Journal.

The 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.  

Edited by: Chris Cumming


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