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AllianceBernstein (AB) July AUM Rises on Market Appreciation

Zacks Equity Research

AllianceBernstein Holding L.P. AB has announced assets under management (AUM) for July 2019. The company’s preliminary month-end AUM of $585 billion increased nearly 1% 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 roughly 1% sequentially to $221 billion. Fixed Income AUM also increased nearly 1% from June 2019 to $297 billion. Others AUM (including certain multi-asset services and solutions, and certain alternative investments) was stable at $67 billion.

By channel, month-end Institutions AUM of $269 billion were on par with the June 2019 level. Retail AUM increased 1.4% sequentially to $218 billion and Private Wealth AUM rose 1% to $98 billion.

Improvement in AUM and higher revenues are expected to support AllianceBernstein’s financials. Over the past year, the stock has lost 9.5% compared with the industry’s decline of 11.6%.



AllianceBernstein currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other Asset Managers

Franklin Resources BEN has announced preliminary AUM by its subsidiaries of $709.5 billion for July. Results display nearly 1% decrease from the $715.2 billion recorded as of Jun 30, 2019. Modest net outflows mainly led to this downside. Also, the figure fell 3.3% year on year.

Cohen & Steers CNS reported preliminary AUM of $63.1 billion as of Jul 31, 2019, up 1.2% from the prior month. Market appreciation of $794 million and net inflows of $255 million were partly offset by a conversion of $119 million from certain institutional accounts to model-based portfolios (excluded from AUM) and distributions of $181 million.

Invesco’s IVZ preliminary month-end AUM of $1,198.7 billion increased slightly from the prior month. The rise was mainly driven by non-management fee earning AUM inflows, favorable market returns, increase in money market AUM and reinvested distributions. These were partly offset by net long-term outflows.

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