AllianceBernstein (AB) June AUM Up On Market Appreciation

AllianceBernstein Holding L.P. (NYSE:AB) has announced assets under management (AUM) for June 2019. The company’s preliminary month-end AUM of $581 billion increased 3.8% from the prior month. Market appreciation and total net inflows were the primary reasons behind this rise.

At the end of the reported month, AllianceBernstein’s Equity AUM grew 6.3% sequentially to $219 billion. Further, Fixed Income AUM rose 2.1% from May 2019 to $295 billion. Others AUM (including certain multi-asset services and solutions, and certain alternative investments) increased 3.1% to $67 billion.

By channel, month-end Institutions AUM of $269 billion increased 3.1% from the May 2019 level. Moreover, Retail AUM increased 5.4% sequentially to $215 billion. Private Wealth AUM also rose 2.1% to $97 billion.

Improvement in AUM and higher revenues are expected to support AllianceBernstein’s financials. Over the past year, the stock has rallied 5.7% against the industry’s decline of 7.7%.




AllianceBernstein currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other Asset Managers

Franklin Resources (NYSE:BEN) announced preliminary AUM by its subsidiaries of $715.2 billion for June 2019. Results displayed a 2.9% increase from the $695 billion recorded as of May 31, 2019. Strong market gains, partly offset by modest net outflows, led to this upside. However, the figure edged down 1.2% year over year.

Invesco’s (NYSE:IVZ) preliminary month-end AUM of $1,197.8 billion for June 2019 increased 3.3% from the prior month. This growth was primarily driven by favorable market returns, foreign exchange, non-management fee earning AUM inflows and reinvested distributions, partly offset by net long-term outflows and lower money market AUM.

Cohen & Steers (NYSE:CNS) reported preliminary AUM of $62.4 billion as of Jun 30, 2019, down nearly 1% from the prior-month level of $62.9 billion. Market appreciation of $1.3 billion was more than offset by net outflows of $215 million.

The Hottest Tech Mega-Trend of All

Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>

Invesco Ltd. (IVZ): Free Stock Analysis Report

Franklin Resources, Inc. (BEN): Free Stock Analysis Report

AllianceBernstein Holding L.P. (AB): Free Stock Analysis Report

Cohen & Steers Inc (CNS): Free Stock Analysis Report

Original post