Gershon M. Distenfeld, CFA

Gershon M. Distenfeld, CFA

Co-Head—Fixed Income; Director—Credit

21 Years at AB
22 Years of experience

Gershon M. Distenfeld, Senior Vice President, is Co-Head of Fixed Income, Director of Credit and a member of the Operating Committee. As Co-Head of Fixed Income, he is responsible for the management and strategic growth of AB’s fixed-income business. As Director of Credit, Distenfeld oversees all of AB’s credit-related strategies, including all global and regional investment-grade and high-yield strategies, as well as their associated investment strategy, activities and portfolio-management teams. In this capacity, he leads AB’s internal Credit Research Review Committee, the primary investment policy and decision-making committee for all credit-related portfolios the firm manages. Distenfeld also co-manages AB’s multiple-award-winning High Income Fund, named “Best Fund over 10 Years” by Lipper from 2012 to 2015, and the multiple-award-winning Global High Yield and American Income portfolios, flagship fixed-income funds on the firm’s Luxembourg-domiciled fund platform for non-US investors. He also designed and is one of the lead portfolio managers for AB’s Multi-Sector Credit Strategy, which invests across investment-grade and high-yield credit sectors globally. Distenfeld is the author of a number of published papers, including one on high-yield bonds being attractive substitutes for equities and another on the often-misunderstood differences between high-yield bonds and loans. Distenfeld joined AB in 1998 as a fixed-income business analyst, and served as a high-yield trader (1999–2002) and high-yield portfolio manager (2002–2006) before being named director of High Yield in 2006. He began his career as an operations analyst supporting Emerging Markets Debt at Lehman Brothers. Distenfeld holds a BS in finance from the Sy Syms School of Business at Yeshiva University, and is a CFA charterholder. Location: New York

How High Yield May Reduce Portfolio Risk
Looking to De-Risk? High Yield Can Help

Looking to De-Risk? High Yield Can Help

by Gershon Distenfeld, Will Smith
The S&P 500 Index hit an all-time high on April 23, thanks to improving investor optimism. But for some equity investors, market highs signal a good time to reduce downside risk. Shifting a modest allocation into US high yield is an efficient way of doing just that—significantly lowering overall risk while only modestly curbing potential returns.

Asset Allocation, Fixed Income, Later in the Cycle, Volatility


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Bookmarks
Debt, Downgrades and Fallen Angels: Keeping Risks in Perspective
Can a High-Yield Allocation Still Offset Equity Volatility?
Will Fallen Angels Disrupt US Credit Markets?
New Year’s Resolutions for High-Income Investors
Will Energy Bonds Hold Up in a Volatile Oil Market?
Crowded Trades, Liquidity Problems and Tech Solutions
Bond Managers Power Up for the Digital Future
Seven Ways Fixed-Income Investors Will Benefit from the Digital Revolution

Seven Ways Fixed-Income Investors Will Benefit from the Digital Revolution

by Gershon Distenfeld, Scott DiMaggio, Jeff Skoglund, James Switzer
At long last, fixed-income investing is entering the digital age—and investors should pay close attention to what their asset managers are doing to keep up. From better pricing to better solution design, the digital revolution that’s transforming the fixed-income management landscape can lead to a host of benefits.

Fixed Income


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Bookmarks
Are Bank Loans a Cure for Rising Rates? History Suggests Otherwise
Reading the Signs: Investment-Grade Bonds Present Warning and Opportunity
Bonds Minus Duration: A Train Wreck in the Making?

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