AllianceBernstein's (AB) February AUM Up on Market Appreciation
AllianceBernstein Holding L.P. AB announced assets under management (AUM) for February 2024. The company’s preliminary month-end AUM of $745 billion reflects a 2.6% rise from the end of January 2024.
The increase was mainly driven by market appreciation and positive net flows across all channels.
At the end of February, AllianceBernstein’s Equity AUM increased 4.9% on a sequential basis to $324 billion. Alternatives/Multi-Asset Solutions AUM (including certain multi-asset services and solutions) rose 1.5% to $138 billion. Fixed Income AUM of $283 billion increased marginally from the end of January 2024.
In terms of channel, February month-end institutions AUM of $318 billion increased 1.6% from the previous month. Retail AUM was $302 billion, up 3.8% from the prior month’s end. Private Wealth AUM of $125 billion increased 2.5% from the January 2024 level.
AllianceBernstein’s global reach and solid AUM balance are likely to boost top-line growth. However, rising operating costs and a challenging operating backdrop are major near-term concerns.
Over the past six months, AB shares have gained 5.5% compared with the industry’s 22.5% rally.
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Currently, AllianceBernstein 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, Inc. CNS reported a preliminary AUM of $79.6 billion as of Feb 29, 2024. This reflected a marginal rise from the prior month's level.
The increase in CNS’s AUM was due to market appreciation of $1.2 billion, partly offset by net outflows of $683 million and distributions of $155 million.
Cohen & Steers recorded total institutional accounts of $31.5 billion at the end of February 2024, falling 1.5% from the January 2024-end level. Of the total institutional accounts, advisory accounts were $17.4 billion, while the rest were sub-advisory.
Invesco IVZ announced a preliminary AUM of $1,630.9 billion for February 2024, reflecting a 3% rise from the previous month-end.
IVZ delivered net long-term inflows of $1.8 billion in the month. Non-management fee-earning net inflows were $1.9 billion and money market net inflows were $3.5 billion. IVZ’s AUM was positively impacted by favorable market returns, which increased AUM by $42 billion. FX decreased AUM by $2.6 billion.
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