AllianceBernstein Reports Sequential Rise In November AUM

AllianceBernstein Holding L.P. (NYSE:AB) announced its assets under management (AUM) for November 2018. The company’s preliminary month-end AUM of $533 billion increased marginally from the prior month.

Market appreciation was the primary reason behind the increase in total AUM. However, this was partially offset by total net outflows.

At the end of the reported month, AllianceBernstein’s Equity AUM increased 2.5% sequentially to $202 billion. Fixed Income AUM decreased 1.1% from the October 2018 level to $270 billion. Others AUM (including certain multi-asset services and solutions, and certain alternative investments) grew 1.7% to $61 billion.

At the end of November 2018, by channel, Institutions AUM of $249 billion was down marginally from the prior month. However, Retail AUM increased 2.1% sequentially to $191 billion. Private Wealth AUM remained unchanged at $93 billion.

While the decline in AUM in the previous months due to tough operating backdrop remains a concern for AllianceBernstein, growth in revenues is expected to provide support to some extent.

Shares of AllianceBernstein have rallied 8.8% so far this year against 26.6% decline recorded by the industry.




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) announced preliminary AUM by its subsidiaries of $683.3 billion for November. Results reflect a marginal improvement from $682.7 billion recorded as of Oct 31. The rise was primarily driven by net market gains.

Cohen & Steers (NYSE:CNS) reported preliminary AUM of $58.6 billion as of Nov 30, 2018, up 1.3% from the prior-month level. Market appreciation of $1.5 billion was partially offset by outflows of $530 million and distributions of $198 million.

Invesco Ltd.’s (NYSE:IVZ) preliminary month-end AUM of $926 billion for November declined less than 0.1% from the prior month. Net long-term outflows and non-management fee earning AUM outflows were the primary reasons behind the decline in total AUM. These were partially offset by favorable market returns, higher money market AUM and reinvested distributions.

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