AllianceBernstein closes UK-domiciled Concentrated Global Equity fund

Much larger SICAV remains open

AllianceBernstein has closed the OEIC version of its ES AllianceBernstein Concentrated Global Equity fund after less than five years.

In an investor letter seen by Investment Week, the fund's authorised corporate director, Equity Trustees Fund Services, said the closure, which became effective on 26 July, was due to the inability to "attract meaningful shareholder investment". The vehicle, which launched in March 2020 and was managed by Dev Chakrabarti and held £3.4m in assets under management as of February this year. By May, this had fallen to £3.2m.  AllianceBernstein launches two growth equity strategies The ACD said the most significant investment in the fund continues to be that of the investment manager, A...