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ACM bets on America

America is the land of opportunity for Alliance Capital Management as it brings in the ACM Bernstein American value portfolio fund.

Aimed at experienced investors who are looking for growth and income, the fund is a Luxemburg-based Ucits and is denominated in either US dollars or Euros.

The fund will invest in a spread of between 70 and 90 blue chip companies in the US that ACM feels are undervalued and which should recover over the medium to long term. These will include companies in sectors such as finance, healthcare, energy and technology.

The decision by the US Federal Reserve on Wednesday April 18, 2001 to cut US interest rates by 0.5 per cent was made in an attempt to stave off any further fears of recession, but it still too early to tell if it has been successful. Although, growth remains positive although slower, and the threatened recession has still not occurred.

According to Standard & Poor&#39s the ACM American growth portfolio fund is ranked 141 out of 203 funds, based on £1,000 invested on a bid to bid basis with gross income reinvested over one year to April 23, 2001.

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