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The views expressed herein do not constitute research, investment advice or trade recommendations, and do not necessarily represent the views of all AB portfolio-management teams and are subject to change over time.
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Analysis is for information only and is subject to revision. Past performance does not guarantee future performance.
As of January 2010 through March 2020
Global Equity sell-offs of 10% or larger as represented by US dollar-hedged DM equities
Countries with monetary space represented by average of US and UK (50%/50% weights) where 10-year yields were well above the market’s perception of policy floor over 2018–2019
Countries at or near policy floor represented by average of Japan and Germany (50%/50% weights) where 10-year yields were at/close to the market’s perceived policy floor over 2018–2019
Sovereign-bond returns for pound sterling, euro and yen are all hedged to US dollars
Source: Barclays, Bloomberg, MSCI, S&P, WFD and AllianceBernstein (AB)
Analysis is for information only and is subject to revision. Past performance does not guarantee future performance.
As of January 1985 through March 2020
Return and Downside Capture Score are AB proprietary measures of risk-adjusted returns and performance in equity tail events designed to capture magnitude, consistency and length of history for a given return stream. High Quality IG Credit strategy is a simulated strategy since 2008 that takes exposure to high quality IG credits as identified by AB proprietary methodology, with the credit beta hedged using HY credit. Quality Income Equities L/S is simulated long/short equity strategy since 1985 that gains exposure to companies with above average total yield and high quality as defined by a combination of profitability, accruals, leverage and technical. Global Strategic Core is a live strategy (simulations from 1990 to November 2011) that gains exposure to equities with low volatility and high quality. The strategy shown is adjusted for market beta.
Source: Barclays, Bloomberg, MSCI, S&P, WFD and AllianceBernstein (AB)
The views expressed herein do not constitute research, investment advice or trade recommendations, and do not necessarily represent the views of all AB portfolio-management teams and are subject to change over time.
Daniel Loewy is Chief Investment Officer and Head of Multi-Asset and Hedge Fund Solutions. He oversees the research and product design of the firm’s multi-asset strategies, as well as their implementation. In addition, Loewy is Chief Investment Officer for Dynamic Asset Allocation, and is responsible for the development and investment decision-making for that service. He is also a member of the Real Asset Investment Policy Group and the Target Date Investment Oversight team. Loewy previously led the Wealth Management Group’s research on the major investment issues faced by our highest-net-worth clients, including asset allocation, alternative investments and tax management. Prior to that, he was a research analyst in the equity research department, where he followed the aerospace and defense and capital goods sectors. Additionally, Loewy has served as an associate portfolio manager for our value equity services. He holds a BS in industrial and labor relations from Cornell University and an MBA from Columbia University, and is a CFA charterholder. Location: New York
Vinod Chathlani is a Senior Vice President, Portfolio Manager and Researcher on the Multi-Asset and Hedge Funds Solutions team. In this role, he is responsible for designing, constructing and managing investment strategies that are focused on risk mitigation, inflation and energy transition. Chathlani joined AB in 2013 as a quantitative researcher and assistant portfolio manager on the Dynamic Asset Allocation team, where he helped research and develop quantitative tools and systematic macro strategies. Prior to that, Chathlani held roles in investment risk and corporate strategy. He holds a BTech in information technology from the University of Madras, India; an MFE from the University of California, Los Angeles; and an MBA from the Indian School of Business, India. Location: New York
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