AllianceBernstein (AB) had previously partnered with one of Australia largest wealth managers in AXA Australian (now AMP Limited), to access the retail market. AB had a strong business in the institutional market and wanted to expand into retail through the IFA market.
Winston was engaged to conduct a full review of AB’s global product range, analyse the gaps in the Australian market where competition was low and growth rates high, and make recommendations in terms of what products to launch and the market engagement strategy to ensure sales success. We were also charged with raising $50m in seed capital for one of the funds we launched: The Global Dynamic Bond Fund.
Winston was successful in helping AB launch two fixed income products suitable for Australian investors including a feeder into a Luxemburg fund, obtaining access to Australia leading researchers through an offshore research roundtable to build brand, organised countless functions with key AB PMs, assisted with the fund rating process from leading research houses and assisted in getting the funds listed on a number of key wrap platforms. Importantly, we helped raise over $60m in the new fund that enabled it to be launched through an innovative fund raising program.
At the completion of this assignment, we successfully transitioned the role of marketing and sales back to AB to manage as part of the original brief.