AllianceBernstein April AUM Up 2.3% On Market Appreciation

AllianceBernstein Holding L.P. (NYSE:AB) has announced assets under management (AUM) for April 2019. The company’s preliminary month-end AUM of $568 billion increased 2.3% from the prior month. Market appreciation and total net inflows were the primary reasons for this rise.

At the end of the reported month, AllianceBernstein’s Equity AUM grew 3.3% sequentially to $218 billion. Further, Fixed Income AUM rose 1.1% from March 2019 to $284 billion. Others AUM (including certain multi-asset services and solutions, and certain alternative investments) increased 4.8% to $66 billion.

By channel, month-end Institutions AUM of $262 billion increased 1.9% from the March 2019 level. Moreover, Retail AUM increased 3.5% sequentially to $202 billion. Private Wealth AUM also rose 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 7.2% against the industry’s decline of 11.4%.

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

Franklin Resources (NYSE:BEN) has announced preliminary AUM by its subsidiaries of $720.5 billion for April 2019. Results display 1.2% growth from the $712.3 billion recorded as of Mar 31, 2019. Net market gains, partially offset by net outflows, led to this upside. However, the figure dipped 1.6% from the previous year.

Invesco’s (NYSE:IVZ) preliminary month-end AUM of $975.2 billion increased 2.1% from the prior month. The rise was primarily driven by favorable market returns, increase in money market AUM, non-management fee earning AUM inflows, net long-term inflows and reinvested distributions.

Cohen & Steers (NYSE:CNS) reported preliminary AUM of $63.1 billion as of Apr 30, 2019, up nearly 1% from the prior-month level. Market appreciation of $178 million and net inflows of $428 million aided this upswing.

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