Alliance Capital Management continues to have a hefty exposure to Argentine bonds in its North American Government Income Trust Fund - a year after investors charged that the fund's name is misleading.

The New York-based fund company is investing heavily in Argentina in "a sneaky way," said Kim Rebecca, an analyst at Morningstar Inc., a Chicago company that tracks fund performance.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.