AllianceBernstein October AUM Falls On Unfavorable Markets

AllianceBernstein Holding L.P. (NYSE:AB) announced its assets under management (AUM) for October 2018. The company’s preliminary month-end AUM of $530 billion decreased 3.6% from the prior month.

Unfavorable market returns were the primary reason behind the decline in total AUM. However, this was partially offset by total net inflows.

At the end of the reported month, AllianceBernstein’s Equity AUM declined 7.1% sequentially to $197 billion. Further, Fixed Income AUM decreased 1.1% from the September 2018 level to $273 billion. Also, Others AUM (including certain multi-asset services and solutions and certain alternative investments) fell 3.3%to $60 billion.

At the end of October 2018, by channel, Institutions AUM of $250 billion was down 2.7% from the prior month. Moreover, Retail AUM decreased 4.6% sequentially to $187 billion. Private Wealth AUM also declined 4.1% to $93 billion.

Decline in AUM, mainly due to tough operating backdrop, is a major concern for AllianceBernstein. However, growth in revenues is expected to provide support to some extent.

Shares of AllianceBernstein have rallied 18% so far this year against 20.8% decline recorded by the industry.



AllianceBernstein currently has 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) announced preliminary AUM by its subsidiaries of $682.7 billion for October. Results reflect a decline of 4.8% from $717.1 billion recorded as of Sep 30. The fall was primarily due to market declines and net outflows.

Cohen & Steers (NYSE:CNS) reported preliminary AUM of $57.8 billion as of Oct 31, 2018, down 3.7% from the prior month. Market depreciation of $1.8 billion, net outflows of $275 million and distributions of $200 million were the reasons for the decline.

Invesco Ltd.’s (NYSE:IVZ) preliminary month-end AUM was $926.1 billion as of Oct 31, 2018, which declined 5.6% from the prior month. Unfavorable market returns, net long-term outflows, foreign exchange and non-management fee earning AUM outflows were the primary reasons behind the decrease.

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 >>

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

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

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

Invesco Ltd. (IVZ): Free Stock Analysis Report

Original post

Zacks Investment Research