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NEW YORK, March 5 /PRNewswire/ -- Alliance Capital, one of the largest asset managers in the world, today introduced four new value-oriented funds. The AllianceBernstein Funds are the first retail value-oriented mutual funds offered by Alliance Capital since its October 2000 acquisition of Sanford C. Bernstein & Co., Inc. These funds are available to investors through a broad range of investment advisors, financial counselors and broker/dealers nationwide.
"Alliance Capital has enjoyed a leadership position in growth investing since 1962," said Michael Laughlin, Chairman, Alliance Fund Distributors and Executive Vice President, Alliance Capital. "Similarly, Bernstein has a 30-year heritage at the forefront of value investing. Our research convinces us that a diversified value/growth investment strategy, taking advantage of varying market cycles, offers investors an opportunity to maximize returns and reduce risk. This new series of mutual funds offers Alliance investors an opportunity to strengthen their portfolios by participating in a value- oriented approach to investing."
The new AllianceBernstein funds are AllianceBernstein Value Fund, AllianceBernstein Small Cap Value Fund, AllianceBernstein International Value Fund, and AllianceBernstein Global Value Fund.
In addition, three existing Alliance Capital funds have been renamed and are now part of the AllianceBernstein Funds: the AllianceBernstein Disciplined Value Fund, the AllianceBernstein Utility Income Fund, and the AllianceBernstein Real Estate Investment Fund.
The AllianceBernstein value funds are designed to provide investors with a full spectrum of investment choices. The Firm boasts one of the largest research teams in the investment management industry.
About Alliance Capital
Alliance Capital is a leading global investment management firm with over $454 billion under management as of December 31, 2000. Alliance Capital is the largest manager of actively-managed U.S. equity assets for U.S. pension funds and non-profit organizations, and advises assets for many of the largest U.S. public and private employee benefit plans, foundations, public employee retirement funds, pension funds, endowments, banks, insurance companies and high net worth individuals worldwide.
Alliance Capital is also one of the largest mutual fund sponsors, with a diverse family of globally distributed mutual fund portfolios and approximately 6.1 million shareholder accounts worldwide. Alliance Capital Management Holding L.P. (NYSE: AC) owns approximately 30% of the units representing beneficial ownership of limited partnership interests in Alliance Capital. SOURCE Alliance Capital
CONTACT: Stephanie Giaramita of Alliance Capital, 631-952-4600, stephanie_giaramita@acml.com; or Stephen Koenigsberg of Kodora Communications, 212-969-6387, steve@kodora.com, for Alliance Capital/