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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. Views are subject to revision over time.
Past performance and current analysis do not guarantee future results.
As of June 30, 2020
Upside-/Downside-market capture calculated by dividing MSCI factor index return by MSCI World Index return. Average downside capture calculated using returns during the following periods. Average upside capture represents the three-month forward return from each period’s trough. Coronavirus (from February peak): February 19, 2020—March 23, 2020. Prior crises include: Rising Rates + Slowing Growth in China and Europe: September 2018—December 2018; Inflation + Fed Tightening: January 2018—March 2018; China’s Economy + Plummeting Oil Price: November 2015—February 2016; Greece + China Stock Market Crash: July 2015—September 2015; Concerns About Europe: May 2012—June 2012; Eurozone Debt Fears III: October 2011—November 2011; Eurozone Debt Fears II: May 2011—October 2011; Eurozone Debt Fears I: April 2010—May 2010; Global Financial Crisis: May 2008—March 2009; SARS: November 2002—March 2003; 2000 Tech Crash: March 2000—October 2002.
Spread is measured as upside capture minus downside capture.
Quality is represented by MSCI World Quality; Min Vol by MSCI World Minimum Volatility; Value by MSCI World Value; and Growth by MSCI World Growth.
Source: MSCI and AllianceBernstein (AB)
Balancing Global Equity Returns with Downside Mitigation for a Smoother Investment Journey
Capital at Risk
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. Views are subject to revision over time.
MSCI makes no express or implied warranties or representations, and shall have no liability whatsoever with respect to any MSCI data contained herein.
Kent Hargis is the Chief Investment Officer of Strategic Core Equities. He created the Strategic Core platform and has been managing the Global, International and US Strategic Core portfolios since their inception in 2011. Hargis has also been Portfolio Manager for the Global Low Carbon Strategy Portfolio since 2022. Previously, he managed the Emerging Portfolio from 2015 through 2023. Hargis was global head of quantitative research for Equities from 2009 through 2014, with responsibility for directing research and the application of risk and return models across the firm’s equity portfolios. He joined AB in 2003 as a senior quantitative strategist. Prior to that, Hargis was chief portfolio strategist for global emerging markets at Goldman Sachs. From 1995 through 1998, he was assistant professor of international finance in the graduate program at the University of South Carolina, where he published extensively on various international investment topics. Hargis holds a PhD in economics from the University of Illinois, where his research focused on international finance, econometrics and emerging financial markets. Location: New York
Sammy Suzuki is Head of Emerging Markets Equities, responsible for overseeing AB’s emerging-markets equity business and instrumental in the formation and shaping of AB’s Emerging Markets Equity platform. He was also a key architect of the Strategic Core platform and has managed the Emerging Markets Portfolio since its inception in 2012, and the Global, International and US portfolios from 2015 to 2023. Suzuki has managed portfolios since 2004. From 2010 to 2012, he also held the role of director of Fundamental Value Research, where he managed 50 fundamental analysts globally. Prior to managing portfolios, Suzuki spent a decade as a research analyst. He joined AB in 1994 as a research associate, first covering the capital equipment industry, followed by the technology and global automotive industries. Before joining the firm, Suzuki was a consultant at Bain & Company. He holds both a BSE (magna cum laude) in materials engineering from the School of Engineering and Applied Science, and a BS (magna cum laude) in finance from the Wharton School at the University of Pennsylvania. Suzuki is a CFA charterholder and was previously a member of the Board of the CFA Society New York. He currently serves on the Board of the Association of Asian American Investment Managers. Location: New York
Jillian Geliebter is a Managing Director of AB’s Equities business. In this role, she works with the firm’s research and portfolio-management teams, as well as with clients around the world. Previously, Geliebter was a senior RFP writer for AB’s Equities services. She has been with the firm since 2009. Geliebter holds a BA in art history from New York University, and an MS in global finance from the Leonard N. Stern School of Business at New York University and the Hong Kong University of Science and Technology. She is a Chartered Alternative Investment Analyst (CAIA). Location: New York
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James MacGregor, Cem Inal, Luke Pryor | 14 February 2025Following a defensive equity playbook can help investors prepare for market volatility in a year of heightened uncertainty.
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John Fogarty, Adam Yee | 30 January 2025This is a marketing communication. This information is provided by AllianceBernstein (Luxembourg) S.à r.l. Société à responsabilité limitée, R.C.S. Luxembourg B 34 305, 2-4, rue Eugène Ruppert, L-2453 Luxembourg. Authorised in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier (CSSF). It is provided for informational purposes only and does not constitute investment advice or an invitation to purchase any security or other investment. The views and opinions expressed are based on our internal forecasts and should not be relied upon as an indication of future market performance. The value of investments in any of the Funds can go down as well as up and investors may not get back the full amount invested. Past performance does not guarantee future results.
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