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AustSafe awards mandate to AllianceBernstein

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AllianceBernstein (AB) has been selected by $2 billion industry super fund AustSafe Super to provide an equity risk-management overlay strategy.

AustSafe Super will allocate a proportion of its international equities exposure to AB's Factor Risk Completion strategy.

The Factor Risk Completion strategy aims to reduce the amount of unintended common exposures in institutional portfolios, as well as reducing the amount of 'asset crowding'.

Craig Stevens, AustSafe Super chief executive, said the overlay would improve the management of the super fund's equity portfolio "without diluting conviction in the underlying investment managers or reducing the return sources we wish to target".

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AB chief executive in Australia Jen Driscoll said: "We look forward to working with AustSafe Super to help their members improve risk-return outcomes in today’s challenging investment markets."