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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.
Large-Cap Blend Managers Beating S&P 500, Rolling Three Years
From December 31, 1992, through December 31, 2016
Historical analysis does not guarantee future results. An investor cannot invest in an index.
Represents the percent of mutual funds in the US Large Blend Morningstar category outperforming the S&P 500 on a rolling threeyear basis with a monthly step The data include active mutual funds only.
Source: Bloomberg and Morningstar Direct
Monthly Stock Dispersion* vs. Level of VIX (Percent)
As of May 31, 2016
Historical analysis does not guarantee future results. An investor cannot invest in an index.
*Dispersion is cross-sectional standard deviation of monthly returns.
†Median monthly return of the S&P 500
Source: Bloomberg, Chicago Board Options Exchange, eVestment, MSCI, S&P 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.
Richard A. Brink is a Senior Vice President and Market Strategist in the Client Group. Previously, he served as a managing director in the Alternatives and Multi-Asset Group. Prior to that role, Brink was a senior portfolio manager in Fixed Income, and before that an investment director for fixed-income investments within the Global Retail Investments Group. Before joining AB in 2004, he was senior product manager at the Dreyfus Corporation, covering both retail and institutional fixed-income offerings. Brink was previously a senior trainer, dealing primarily with the design and delivery of product training to financial advisors and mutual fund sales representatives. He holds a BS in applied mathematics and economics from Stony Brook University, and is a CFA charterholder. Location: New York
Walt Czaicki serves as a Senior Vice President and Senior Investment Strategist for Equities at AB. He rejoined the firm in 2015 and has been in the investment-management industry since 1986. Czaicki's roles have ranged from a fundamental equity research analyst and portfolio manager to chief investment officer. Prior to rejoining AB, he worked on the buy side for a Regions Financial predecessor organization, as well as at Commerce Trust Company and Bank of America. Czaicki holds a BSBA in finance and an MBA, both from Saint Louis University. He is a CFA charterholder. Location: Dallas
Scott Krauthamer is a Senior Vice President and Global Head of Product Management & Strategy, overseeing AB's global investment products across the firm's equity, fixed income and multi-asset strategies. Prior to joining the firm, he held a variety of investment and product-management roles at Legg Mason, U.S. Trust, Bank of America and J.P. Morgan Private Bank. Krauthamer started his career as an analyst at J.P. Morgan in 1998, and his financial-services experience spans investment-management, quantitative analysis, marketing and business development. He holds a BS in finance and management information systems from the State University of New York, Albany, and is a CFA charterholder and a CAIA designee. Location: Nashville