Latest news with #AllianceBernstein
Yahoo
5 days ago
- Business
- Yahoo
Wall Street Exodus? Why Big Money Is Quietly Fleeing the US Market
Institutional investors are starting to step back from the United States. Between Washington's mounting debt pile, shifting trade policies, and general unpredictability, the case for having a concentrated US portfolio is no longer a given. AllianceBernstein CEO Seth Bernstein put it bluntly: the pace of US borrowing is untenable. The dollar has already dropped nearly 9% this year, and a recent Bank of America fund manager survey showed the largest underweight in the greenback in almost 20 years. For some investors, it's no longer just about tariffsit's about whether the decades-long dominance of US markets is beginning to wobble. Warning! GuruFocus has detected 2 Warning Sign with AMZN. Meanwhile, Europe's looking more like a viable alternative. The Stoxx Europe 600 is up 9% this year, well ahead of the S&P 500's (SPY) modest gains. Neuberger Berman has already shifted 65% of its private equity co-investments to Europemore than double its previous range. Blackstone vice chair Tom Nides said the math is getting clearer: Shifting money to Europe is certainly not a bad bet. Germany's 1 trillion infrastructure and defense plan could add some fuel, especially as European governments project a steadier macro backdrop than Washington can currently offer. The continent still has its challenges, but for now, it's offering something the US isn'tpredictability. Even long-time US investors are quietly pulling back. Caisse de depot et placement du Quebec, which had 40% of its portfolio in US assets, is moving more capital to the UK, France, and Germany. Tesla (NASDAQ:TSLA) and other American heavyweights may still anchor global portfoliosbut the question being asked across boardrooms is different now: are we overexposed? For the first time in years, investors are running that calculation with fresh eyes. And while no one's calling time on the US just yet, the idea of global rebalancing? It's not just talk anymore. This article first appeared on GuruFocus.
Business Wire
6 days ago
- Business
- Business Wire
Equitable Holdings to Participate in the 2025 Morgan Stanley US Financials Conference
NEW YORK--(BUSINESS WIRE)--Equitable Holdings, Inc. (the 'Company') (NYSE: EQH), the leading financial services holding company of Equitable, AllianceBernstein and Equitable Advisors, announced today that Robin Raju, Chief Financial Officer of Equitable Holdings, will participate in a fireside chat at the 2025 Morgan Stanley US Financials Conference on Wednesday, June 11, 2025 at 11:25 a.m. ET. A live audio webcast will be accessible on the Equitable Holdings Investor Relations website at Please log on to the webcast at least 15 minutes prior to the event to download and install any necessary software. A replay will be made available on the Investor Relations website shortly following the conclusion of the live webcast. About Equitable Holdings Equitable Holdings, Inc. (NYSE: EQH) is a leading financial services holding company comprised of complementary and well-established businesses, Equitable, AllianceBernstein and Equitable Advisors. Equitable Holdings has $1 trillion in assets under management and administration (as of 3/31/2025) and more than 5 million client relationships globally. Founded in 1859, Equitable provides retirement and protection strategies to individuals, families and small businesses. AllianceBernstein is a global investment management firm that offers diversified investment services to institutional investors, individuals and private wealth clients. Equitable Advisors, LLC (Equitable Financial Advisors in MI and TN) has 4,500 duly registered and licensed financial professionals that provide financial planning, wealth management, retirement planning, protection and risk management services to clients across the country. Reference to the 1859 founding applies specifically and exclusively to Equitable Financial Life Insurance Company (NY, NY).
Reuters
02-06-2025
- Business
- Reuters
Vanguard files for new ex-China emerging markets ETF
June 2 (Reuters) - Asset management giant Vanguard Group plans to launch a new exchange-traded fund (ETF) that will target emerging markets while excluding China, joining a growing niche shaped by investor debate over China's role in global portfolios. The Vanguard Emerging Markets ex-China ETF will make its debut later this summer. Many investors have been unsettled by turmoil surrounding China's trade relationship with the United States, even as better performance from Chinese stocks means some are reluctant to remove them from funds altogether. The Vanguard offering would bring to 13 the number of emerging markets ETFs that exclude Chinese stocks, according to Morningstar data. Two-thirds of those have been launched since 2023, a year that saw China's CSI300 index record its third straight year of losses. The growing interest in rolling out these ex-China funds is logical, said Bryan Armour, ETF strategist at Morningstar. "Investors may be worried about geopolitical risk, state intervention in private markets, or just want to manage their China allocation separately from broader emerging markets," he said. Even so, in the last month or two, flows into most broad emerging markets have begun to look stronger than those into ex-China alternatives, he said. Sammy Suzuki, head of emerging markets equities at AllianceBernstein, said he believes that interest in ex-China emerging markets funds is dwindling as Chinese stocks stage a recovery. In the last 12 months, the iShares China Large-Cap ETF (FXI.P), opens new tab has gained 35.34%, and the returns on Chinese stocks contributed to the 9.7% gain by the broad iShares MSCI Emerging Markets ETF (EEM.P), opens new tab. The iShares MSCI Emerging Markets ex-China ETF (EMXC.O), opens new tab is up only 4.8%. "China is both too large and too controversial to not be its own allocation," said Jason Hsu, chief investment officer of Rayliant Global Advisors, adding both dedicated China ETFs and emerging markets ex-China products will coexist. Vanguard, which has $10.1 trillion in total assets, submitted the new filing to the U.S. Securities and Exchange Commission last Friday. It already offers investors the Vanguard FTSE Emerging Markets ETF (VWO.P), opens new tab, which has about $85.9 billion in assets, with 30% invested in Chinese stocks, according to estimates from Jeff DeMaso, editor of the Independent Vanguard Adviser, who analyzes the firm's fund offerings. DeMaso said that investors who buy the new ETF when it launches will swap an outsize position in China for hefty exposure to companies in Taiwan and India, which account for nearly 60% of the underlying index. A spokesman for Vanguard said the new ETF will offer additional choice for investors who want to avoid Chinese stocks with a fee of only 0.07%, compared to 0.25% for BlackRock's (BLK.N), opens new tab offering.
Yahoo
27-05-2025
- Business
- Yahoo
Consumer confidence rises but is 'trending lower,' economist says
Consumer confidence unexpectedly jumped to 98 in May, well above forecasts of 87.1, the Conference Board reports. Eric Winograd, AllianceBernstein chief economist, joins Catalysts host Julie Hyman and ProShares global investment strategist Simeon Hyman to explain how this surprise reading contrasts with weaker trends in other surveys. To watch more expert insights and analysis on the latest market action, check out more Catalysts here. Sign in to access your portfolio
Newsweek
23-05-2025
- Business
- Newsweek
Alliance Bernstein Completes Real Estate Makeover With New Hudson Yards Office
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Global financial services company Alliance Bernstein opened a new office in the Hudson Yards neighborhood of Manhattan in September 2024, featuring four floors of space meant to delight high-net-worth clients, with an AI "dream wall" in the lobby signaling its commitment to the future of technology. This new office was the culmination of a 10-year plan that saw the investment giant move offices across Hong Kong, London and within the United States. Previously headquartered in New York City with another office in White Plains, New York, Alliance Bernstein opened a new, seven-floor corporate headquarters in Nashville in 2022. That office now holds employees across legal, audit, human capital and risk, COO Karl Sprules told Newsweek during an exclusive tour of the Hudson Yards office with design firm Gensler and Alliance Bernstein's head of real estate, Lev Gordon. "This [New York City] office is predominantly for investors and private wealth," Sprules said, emphasizing the importance of mentorship and collaboration in the company culture and a three-days-a-week office-attendance policy. "The core office is Nashville." Over 10 years ago, the company made the decision to develop open-office layouts across the world, going from spaces that were nearly two-thirds composed of private offices down to zero private offices. The company's leadership also decided to shift locations from top-end metro areas to emerging ones. "Our offices are all different everywhere. They provide a similar quality of amenities and overall workplace, but aesthetical architecture is all very different because we're trying to attach it to the local culture, local history," Gordon told Newsweek. Featuring the dream wall in the lobby, the four floors of the new New York office represent a significant downsize from the million-square-foot presence in the company's old Sixth Avenue and White Plains offices, which are set to close this year. The new space is in The Spiral Tower in Hudson Yards, an area redeveloped as part of New York City's bid to host the 2012 Summer Olympic Games on the site of a former rail yard. Gordon noted an appreciation for the architecture of the building, including nods to the elevated tracks and trains that previously ran through the area. "This office doesn't look anything like Nashville," Gordon said. "We tried to make it more New York." The first-floor lobby area featuring cafe and AI dream wall, as well as plenty of casual seating. The first-floor lobby area featuring cafe and AI dream wall, as well as plenty of casual seating. Alliance Bernstein An Inviting, AI-Decorated Entrance The AB Hudson Yards office opens with a reception desk and concierge on the left and a café-like area on the right side, with the dream wall in view. Employees can use a central flight of spiral stairs to walk up and down between the office's four floors; on the top three floors, the stairheads and elevator banks open to kitchen areas, from where hallways lead to "neighborhood style" work areas. "We wanted to bring as many people as possible back without pushing," Gordon said from the luxuriously appointed, fully stocked lobby café. "We are trying to be more hospitality than just an office." To create the AI dream wall, Gensler and Alliance Bernstein collaborated to identify thousands of photos that fit the intended inspirational vibe. The goal was to build a "parent" dataset so that the software would produce AI-generated imagery on a 33-foot by 9-foot LED mesh display. From there, 240 feet of slightly less fine LED "wallpaper" adorns the first-floor hallway. Employees rounding a corner. Employees rounding a corner. Alliance Bernstein "These are the images that are matching the artistic intent of our team," Eran Sharon, creative technology officer at Gensler, told Newsweek, describing the process to "teach" the software to create the continuously updating image on the wall. "Once we have those, we're basically giving them to the model that we've created with a whole set of constraints," he said. The image updates every 90 seconds and never repeats. "There's a dual purpose for this, one is showcasing AB's commitment to technology and the AI revolution happening around us and at the same time creating a space that is inviting and unique as an installation statement," Sharon said. The LED first-floor hallway walls dynamically change color when people walk by, and the way they change evolves over the course of the day. On another floor, a leather wall will become slowly worn and change as people walk by and touch it over the years, Gordon said. The first floor's outer areas contain conference rooms equipped for entertainment or privacy, depending on the visiting client's needs. At the end of the floor, a larger, modular space with floor-to-ceiling windows is meant to host training, external programs and larger gatherings. For now, it has an unobstructed view of the Hudson River, though a new development next-door may impede the view in the future. AB has also mostly done away with assigned seats. Those who commit to coming into the office four days per week can get a desk, but otherwise the structure comprises department-based neighborhoods and different styles of workspaces that allow for focused work, full-team collaboration and everything in between. "The workplace is all open. ... We tried to find maximum amenities for people, so they don't feel bad that they've left their private offices," Gordon said. The space's amenities include secure cubbies, a kitchen, coffee and snacks on each floor as well as package-handling services. Dozens of video-equipped, reservable rooms sit on each floor. A light outside indicates if the room is available. "Technology is a huge lever for us," Sprules said. "We've got a massive investment in tech and operations. That's the biggest group of employees by a long way, over 2,000 people in that organization." The large conference room at the end of the first floor. The large conference room at the end of the first floor. Alliance Bernstein The Strategy Behind the Space For Sprules, from his position as COO, the 10-year plan for new offices was meant to improve employees' quality of life by moving to more affordable areas with shorter commutes. They were also meant to push the company culture forward. "We have a very collaborative culture, we like to find people who are intellectually curious, who want to work together in this space," Sprules said. "The people are doers. They're curious, and they want to work as a team; the space is meant to help that." Sprules also felt strongly about the need to bring people into the office. It was a priority before the pandemic and after, when AB was one of the first companies to bring employees back to the office in 2021. Of course, COVID-19 put some bumps in the road. "We designed all this out way before we thought the pandemic was even a thing," Sprules shared. This complicated the migration to Nashville, but today that office houses over 1,200 employees, and the company has 90 percent compliance on its attendance policy. AB has also equipped its buildings with advanced meeting and conference-room technology, including external lights to indicate availability, switch-activated privacy shutters, smart cameras, microphones and Zoom-enabled call rooms. This tech-forward design is meant to demonstrate the company's commitment to the future. A statement piece like the dream wall signifies a desire to grow comfortable and familiar with AI and emerging technology. A staircase connects all four floors of the space. A staircase connects all four floors of the space. Alliance Bernstein "We think generative AI's got this massive opportunity, but you've got to get people to use it, practice it, incorporate it in their daily lives. We thought the dream wall was a great way of pushing that front and center," Sprules said. On a day-to-day basis, Sprules said, the new office space is meant to encourage mentorship and help employees develop and learn from each other. "If you look at how people are trained here, it's the sort of apprenticeship model," he explained. "People sit next to folks and learn the trade. We knew we wanted to keep that and deal with the inequity of having people remote and having people inside the office, so we heavily leaned into technology with these Zoom rooms and a lot of high-quality video at the desks." Sprules shared that HR helped ensure considerations like mother's rooms and that he heavily weighed business unit leaders' feedback for what their teams needed from a new space. "A lot of the feedback comes directly from the business," he said. "[Human capital] is our partner when we're thinking about the demographics of our people and what they need, such as mother's rooms and prayer rooms." The company has come a long way from the old-school financial services haunts that Gordon said "looked more like a law firm" with all of the executive offices and secretary offices. The company also had an old-school way of completing work. That's no longer the case. "If you looked at our offices back then, there was almost no technology. ... People came to meetings with a pen and a pad of paper," Sprules said. "We want to think of ourselves as a tech-forward asset management wealth management firm," he added. "Ideally the space is supposed to encourage that idea."
