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Welcome to AllianceBernstein Institutions - Asia Pacific

At AllianceBernstein, we have a long history of working with some of the world’s largest plans, helping them achieve their investment goals.

Current Perspectives

Euro-Area Leaders Need to Focus on More Pressing Issues

Last week’s informal meeting of European Union leaders was billed in the media as a showdown between Germany’s pro-austerity chancellor, Angela Merkel, and France’s new pro-growth president, François Hollande. As it turned out, there was a surprising amount of common ground, with Hollande even saying that a weaker currency was not the answer to the euro area’s problems. But there was less agreement when it came to the controversial topic of jointly underwritten bond issuance—namely, Eurobonds.

Could Asia Come to the Rescue in a Global Double Dip?

When the global economy fell into a slump after the 2008 financial crisis, it was massively expansionary policy in Asia—notably, in China—that helped lead the world out of the downturn. Could we see a similar policy response in Asia if the global economy slid into recession again?

What We’ve Learned from Municipal Distress

Is the municipal bond market on the verge of collapse? You might think so, given the blaring headlines about a few big disasters in the last year. But as my colleague Joe Rosenblum explains below, poor decision making, not systemic issues, has caused the most serious problems.

Manager Diversification: Why Conventional Wisdom Is Wrong

There’s a strong case to be made that investors should diversify their exposure to passive managers more—not less—than they diversify their exposure to active managers.

Five Reasons Why We Think the Renminbi is Still a Buy

The renminbi (RMB) has strengthened significantly in recent years. We don’t think it will continue to appreciate at the same pace, and in the very short term we may see two-way volatility in the exchange rate. But we are still positive on the currency, especially in the medium term. Here are five reasons why.

Economic Perspectives

Indonesia: External Deficit Not as Bad as It Seems

AsiaAlthough Indonesia’s external deficit has widened, we believe it is part and parcel of healthy investment-driven growth, rather than a sign of any balance of payment crisis. The issue is how well the government can manage the transitory imbalances and keep its successful economic development on track.

Dollar-Bloc Currency Valuations: Is the Picture Starting to Change?

AustralasiaOn most long-term valuation metrics, commodity currencies such as the Australian and New Zealand dollars have shown up as very expensive for a long while. They have been broadly supported by interest-rate differentials, safe-haven flows and commodity prices, but this picture is starting to change.

Slower Reserve Growth: A Sign of Change in Emerging Economies?

Special CommentaryFor years, emerging markets have seen a flood of capital from outside investors, which has driven currencies higher and pumped up foreign-exchange reserves. That trend shows signs of ebbing—and could be a signal of broader changes afoot.

Market Perspectives

China Bonds: August 2011

Against a background of slowing global economic recovery, the policy focus in China, as in many other countries, switched to growth rather than inflation. Not all policy signals were unambiguous, however, and the most noteworthy—a decision by the People’s Bank of China (PBOC) to extend the reserve requirement ratio (RRR) to banks’ margin deposits—caused some confusion. On balance, it appeared likely to act as a not-too-onerous check on liquidity growth that was well calibrated to the growing sense of economic uncertainty.

Asia ex-Japan Value: June 2011

The Asian ex-Japan market fell in tandem with global markets in June amid persistent global investor anxiety, finishing down 2.3% in US dollar terms. South and Southeastern Asian markets fared better, with the exception of Thailand, which remained fragile ahead of July’s general election.

China A-Share Value: June 2011

Bucking a trend of general weakness in the broader Chinese and Asian equity markets, China A shares rose in June as worries about rampant inflation and economic slowdown eased somewhat. Having sharply lagged global markets in previous months, the A-share market, particularly cyclical companies, benefited from investors’ pent-up demand. The MSCI China A Share Index rose 2.8% in US dollar terms.

Pacific ex-Japan Value: June 2011

The developed Pacific markets—as measured by the MSCI Pacific ex Japan Index—declined 1.7% for the month, trimming the gain for the first half of the year to 2.5%. Sector performance was mostly negative during June.

In The News

AllianceBernstein Outlines Multi-Themed Approach

AsianInvestor met with chief investment officer Catherine Wood to talk about the launch of the Global Thematic Research Portfolio in Asia in November.

Your Asset Allocation

Stress Test Your Asset Allocation

Compare the change in funded ratios under different market scenarios and asset mixes.

Our Approach

How we partner with you and the specialist services and holistic solutions that we offer to address your needs.

Learn more about our approach

Opportunities

  • Global Dynamic Duration

    The 2008–2009 global recession marks the end of the ‘Great Moderation’ and the beginning of a new period of increased volatility, in our opinion. This has profound implications for portfolio returns and investment strategies.

  • Emerging Markets Multi-Asset Portfolio

    Our research indicates that an actively-managed portfolio combining equities, debt and currencies offers significant advantages over a single-asset-class approach.

  • Opportunities in Thematic Growth Investing

    Looking at stock markets through a thematic lens points to opportunities we find compelling.

  • Currency Alpha Opportunities

    We see opportunities for currency alpha as some countries recover faster than others and central bank monetary policies diverge.

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