Eaton Vance launches Richard Bernstein Asset Strategy Fund

By Toni Weeks

San Diego, Oct. 3 - Eaton Vance Investment Management has launched the Eaton Vance Richard Bernstein Asset Strategy Fund, according to a press release.

The new mutual fund's portfolio manager is Richard Bernstein, chief executive officer and chief investment officer of the fund's sub-adviser, Richard Bernstein Advisors LLC. He is also portfolio manager of Eaton Vance Richard Bernstein Equity Strategy Fund.

The new fund follows a top-down style similar to the equity strategy fund but has the flexibility to invest across equities, fixed income, commodities, currencies and cash. Under normal market conditions, the fund expects to invest up to 75% of its net assets in equity securities; 25% to 90% in fixed-income securities; up to 25% in commodities, commodity-related investments or currencies; and up to 25% in cash and cash equivalents.

The fund will be rebalanced as necessary to reflect desired market exposures and risk. It will gain exposure to some types of investments through holdings of exchange-traded funds.

"Investors today are looking for ways to maximize returns while managing risk," Bernstein said in the release. "We see the historical occurrence of a loss from a particular asset class as an important concept in the development of our asset allocation and risk management strategy.

"By following a flexible, go-anywhere strategy, the fund will seek to capitalize on global and domestic opportunities in multiple asset classes. We expect macro-economic indicators to evolve over time, and the fund's nimble investment strategy will allow for strategic asset allocations in both bull and bear markets."

Prior to founding RBA, Bernstein spent more than 20 years at Merrill Lynch & Co.

Eaton Vance provides investment solutions to individuals and institutions and is based in Boston. Richard Bernstein Advisors LLC is an independent investment management firm based in New York.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.