AllianceBernstein (AB) August AUM Increases On Net Inflows

AllianceBernstein Holding L.P. (NYSE:AB) has announced assets under management (AUM) for August 2019. The company’s preliminary month-end AUM of $587 billion increased slightly from the prior month. Total net inflows were the primary reasons for this rise.

At the end of the reported month, AllianceBernstein’s Equity AUM declined 2.7% sequentially to $214 billion. Fixed Income AUM increased nearly 3% from July 2019 to $306 billion. Others AUM (including certain multi-asset services and solutions, and certain alternative investments) was down 1.5% to $67 billion.

By channel, month-end Institutions AUM of $272 billion was up 1.1% from July 2019. Retail AUM increased marginally on a sequential basis to $219 billion while Private Wealth AUM declined 2% to $96 billion.

Improvement in AUM and higher revenues are expected to support AllianceBernstein’s financials. Over the past year, the stock has lost 2.3% compared with the industry’s decline of 8.1%.

AllianceBernstein currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other Asset Managers

Cohen & Steers (NYSE:CNS) reported preliminary AUM of $69.6 billion as of Aug 31, 2019, up 3% from the prior-month level of $67.5 billion. Market appreciation of $2 billion and net inflows of $240 million were partly offset by distributions of $186 million.

Franklin Resources (NYSE:BEN) has announced preliminary AUM by its subsidiaries of $690.6 billion for August 2019. Results display 2.7% decrease from the $709.5 billion recorded as of Jul 31, 2019. Slight net outflows and net market declines led to this downside. Further, the reported figure went down 4.4% year on year.

Invesco’s (NYSE:IVZ) preliminary August-end AUM of $1,175.1 billion declined 2% from the prior month. The decline was mainly driven by unfavorable market returns, net long-term outflows, foreign exchange, lower money market AUM and non-management fee earning AUM outflows, partially offset by reinvested distributions.

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