As of June 30, 2018
Past performance does not guarantee future results.
Based on the AB Income Fund—Advisor Shares
US high yield is represented by Bloomberg Barclays US High-Yield; five-year US Treasury is represented by Bloomberg Barclays US Treasury Five-Year Bellwether; leveraged loans are represented by Credit Suisse Leveraged Loan. An investor cannot invest in an index, and the index does not represent the performance of any AB portfolio.
Source: Bloomberg Barclays, Credit Suisse, Federal Reserve Bank of St. Louis, Morningstar Direct 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. Views are subject to revision over time.
Gershon M. Distenfeld thrives on facing challenge, solving problems and putting people with different personalities and different viewpoints together to "make the engine run." When he joined AB in 1998 from a role as an operations analyst at Lehman Brothers, Distenfeld had long been fascinated by the high-yield market, and he led that practice at AB from 2006 to 2016 before assuming responsibility for all of credit. He has been co-head of fixed income since 2018.
In an industry that tends to focus on the short term, Distenfeld's investment philosophy takes the long view, considers a range of outcomes and focuses on the downside. This approach puts process and constant innovation at the forefront, making full use of AB's proprietary technology to mine the insights of fundamental and quantitative research.
"We're constantly reinventing ourselves," Distenfeld says. "We don't just sit still. We adapt to new information so we can find new factors that work."
Distenfeld's eye toward the long view extends to his charitable work with organizations like New Jersey NCSY. This youth organization for disaster relief partners with Habitat for Humanity and NECHAMA to repair homes and lives affected by natural disasters.