Thapar and Fogarty will now co-manage the $2.62 billion AB Large Cap Growth fund, the $67.62 million AB Core Opportunities fund and the $175.06 million AB Relative Value fund alongside Citywire + rated Frank Caruso. Fogarty has co-managed the AB Large Cap Growth fund since 2012 but is new to the other two funds.
Thapar will replace Citywire + rated Vincent Dupont and Karen Sesin on the AB Large Cap Growth fund. Caruso had previously managed the AB Core Opportunities fund and AB Relative Value fund by himself.
Citywire has learned Sesin will retire at the end of June while Dupont will remain with AllianceBernstein in a new role as director of research.
A spokesman for AllianceBernstein did not respond to requests for comment at the time of publication.
Thapar has worked for AllianceBernstein since 2011, while Fogarty has been a US growth equity portfolio manager for the firm since 2009.
The AB Large Cap Growth fund has delivered a 47.1% total return over the last three years, which ranks 36th out of 150 Large Cap Growth funds tracked by Citywire. The AB Core Opportunities fund has returned 35.6% over the past three years, 20th out of 188 Multi-Cap Core funds tracked by Citywire.
The AB Relative Value fund has returned 31.4% over the past three years, 98th out of 192 Large Cap Core funds tracked by Citywire. The fund was previously known as the AB Growth & Income fund but was renamed in January 2017.