AllianceBern S/M Cap Growth CCHCCX

Morningstar Rating

Fund Research and Analysis

by Katie Rushkewicz

AllianceBernstein Small/Mid Cap Growth is looking up, but it's still not a screaming buy.

This fund has taken on a new identity since a massive overhaul in November 2008. Formerly a bold and highly volatile fund largely driven by top-down calls, it's now a much tamer offering that limits sector bets and position size and relies solely on bottom-up stock-picking. Read more

Kudos

New managers have several years of experience running other funds, including institutional and private accounts.

The management team has a large research infrastructure supporting it. Read more

Risks

Recent manager change.

New managers' record at another fund is mixed.

The fund will own more small-cap stocks in the future.

The fund is going through a dramatic strategy change.

Fees have increased due to the fund's shrinking asset base, making it more expensive than its average peer. Read more

Strategy

A major strategy change took effect in November 2008 when manager Catherine Wood was replaced by Bruce Aronow and team. While Wood's thematic approach often took investors on a wild ride, Aronow's approach should court less volatility. Read more

Management

As part of this fund's makeover, Catherine Wood and her team were replaced by AllianceBernstein's Small/Mid Cap Growth team. That team, which has run AllianceBernstein Small Cap Growth since about 2000, includes Bruce Aronow, Kumar Kirpalani, Samantha Lau, and Wen-Tse Tseng. Read more

Inside Scoop

This fund has undergone a makeover, transforming from an erratically behaving thematic growth fund to a less volatile offering that combines quantitative and fundamental research. Read more

First Name

Last Name

Email Address

Zip Code

Create Password

Verify Password

(6-15 characters; case sensitive)

What is your occupation or job title?

Select...

Your registration indicates agreement to the terms of use.

Picking Positions in Health Care
Watch more