Deals and People October 16, 2013

Morgan Stanley Names Stable Value Research Analyst

October 16, 2013 (PLANSPONSOR.com) – Morgan Stanley Wealth Management named Jeff Stein, currently vice president, to the newly created position of senior research analyst for Stable Value Funds.
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Stein will work closely with the Retirement Services Group within Morgan Stanley Wealth Management. Based in New York, he will report to Paul Ricciardelli, managing director in Consulting Group Investment Advisor Research.

Stein joins Morgan Stanley from the Global Markets division of Bank of America Merrill Lynch, where he structured and marketed stable value wraps. He was responsible for negotiating wrap contracts and fund investment guidelines, as well as analyzing the underlying portfolios. Stein began his financial services career at ORIX USA Corporation, where he developed hedging strategies for proprietary corporate bond and real estate portfolios.

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According to Ed O’Connor, managing director and head of Retirement Services, “I am excited Jeff has joined Morgan Stanley. We continue to enhance our capabilities in serving the defined contribution market and having dedicated stable value fund coverage reinforces our commitment.”

Stein graduated from Boston University with a B.A. in economics and received his M.B.A. from New York University, Stern School of Business.

Products October 16, 2013

AllianceBernstein Offers New Share Class Z

October 16, 2013 (PLANSPONSOR.com) – AllianceBernstein now offers a non-revenue share class for a select group of mutual funds.
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Z shares are designed to provide greater flexibility to the defined contribution plan market. The new share class will be AllianceBernstein funds’ lowest-priced share class and available for purchase for the following funds:

  • AllianceBernstein Core Opportunities Fund (Ticker symbol: ADGZX);
  • AllianceBernstein Discovery Value Fund (ABSZX);
  • AllianceBernstein Equity Income Fund (AUIZX);
  • AllianceBernstein Global Bond Fund (ANAZX);
  • AllianceBernstein Growth and Income Fund (CBBZX); and
  • AllianceBernstein High Income Fund (AGDZX).

“Clients are increasingly demanding a simpler and more transparent fee structure, so we’ve created these new shares to meet that growing demand,” said Craig Lombardi, managing director and national sales manager for AllianceBernstein’s Defined Contribution Investment-Only Business. “With this new low-cost share class, we can offer our clients flexible pricing options.”

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The new Z shares will be offered without 12b-1 fees or sub transfer agency fees and there is no minimum initial investment requirement. In addition, AllianceBernstein will not make distribution services and educational support payments in respect of class Z shares.

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