AllianceBernstein Holding L.P. AB has announced assets under management (AUM) for August 2019. The company’s preliminary month-end AUM of $587 billion increased slightly from the prior month. Total net inflows were the primary reasons for this rise.
At the end of the reported month, AllianceBernstein’s Equity AUM declined 2.7% sequentially to $214 billion. Fixed Income AUM increased nearly 3% from July 2019 to $306 billion. Others AUM (including certain multi-asset services and solutions, and certain alternative investments) was down 1.5% to $67 billion.
By channel, month-end Institutions AUM of $272 billion was up 1.1% from July 2019. Retail AUM increased marginally on a sequential basis to $219 billion while Private Wealth AUM declined 2% to $96 billion.
Improvement in AUM and higher revenues are expected to support AllianceBernstein’s financials. Over the past year, the stock has lost 2.3% compared with the industry’s decline of 8.1%.
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
Cohen & Steers CNS reported preliminary AUM of $69.6 billion as of Aug 31, 2019, up 3% from the prior-month level of $67.5 billion. Market appreciation of $2 billion and net inflows of $240 million were partly offset by distributions of $186 million.
Franklin Resources BEN has announced preliminary AUM by its subsidiaries of $690.6 billion for August 2019. Results display 2.7% decrease from the $709.5 billion recorded as of Jul 31, 2019. Slight net outflows and net market declines led to this downside. Further, the reported figure went down 4.4% year on year.
Invesco’s IVZ preliminary August-end AUM of $1,175.1 billion declined 2% from the prior month. The decline was mainly driven by unfavorable market returns, net long-term outflows, foreign exchange, lower money market AUM and non-management fee earning AUM outflows, partially offset by reinvested distributions.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free 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
Invesco Ltd. (IVZ) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research