AllianceBernstein has appointed Evelyn Partners Fund Solutions Ltd (EPFL) as authorised corporate director (ACD) for its open-ended investment company (OEIC) fund range.

Following a “robust and competitive market” review, AllianceBernstein selected EPFL to act as ACD for its range of six UK OEIC funds.

The funds were launched in 2019 and now manage assets of more than $1bn.

EPFL said it had a long-standing history of providing ACD services, with the business now supporting more than 150 funds with funds under governance of around £10bn.

Commenting on the appointment, EPFL CEO, Neil Coxhead, described AllianceBernstein as a leading global asset management firm and said he was delighted the firm had chosen EPFL to act as the new ACD for its full OEIC fund range.

“Their market review was a rigorous process, and we are excited to work with them,” he added.

“This appointment further demonstrates our strong service credentials within the independent ACD sector and adds to a growing number of fund sponsors who value our fund governance capabilities.”

AllianceBernstein head of EMEA product strategy and development, Nick Burgess, commented: “We were impressed with how well Evelyn Partners understood our business, client needs, and our long-term UK goals, while also outlining their strong governance credentials.

“EPFL were proactive in their preparations to ensure a smooth transition. We are looking forward to building a strong longstanding relationship with them.”

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