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AllianceBernstein (AB) October AUM Dips on Weak Markets

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Zacks Equity Research
·2 min read
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AllianceBernstein Holding L.P. AB announced assets under management (AUM) for October 2020. The company’s preliminary month-end AUM of $622 billion decreased 1.4% from the prior month. Market depreciation and total firm wide net outflows primarily led to the decline.

At the end of October, AllianceBernstein’s Equity AUM fell 1.6% sequentially to $243 billion. Also, fixed Income AUM decreased 1.3% from September 2020 to $306 billion. Other AUM (including certain multi-asset services and solutions, and some alternative investments) was down 1.4% to $73 billion.

In terms of channel, month-end Institutions AUM of $284 billion was down 1.7% from September. Likewise, retail AUM decreased nearly 1% on a sequential basis to $243 billion and Private Wealth AUM declined 2% to $97 billion.

Though dismal markets performance hurt AUM, AllianceBernstein’s global reach and solid assets balance are expected to support top-line growth.

Shares of AllianceBernstein have rallied 49.8% over the past six months, outperforming the industry's growth of 32.9%.


 

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

Cohen & Steers CNS reported preliminary assets under management (AUM) of $71.3 billion as of Oct 31, 2020, which increased 1% from the prior-month level. Net inflows of $2 billion were partially offset by market depreciation of $1.1 billion and distributions of $219 million.

Franklin Resources BEN announced preliminary assets under management (AUM) by its subsidiaries of $1.39 trillion for October 2020. Results display a 2.1% decrease from the $1.42 trillion recorded as of Sep 30, 2020.

Invesco IVZ announced assets under management (AUM) for October 2020. The company’s preliminary month-end AUM of $1,206.5 billion represents an 1% decrease from the prior month.

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Franklin Resources, Inc. (BEN) : Free Stock Analysis Report
 
AllianceBernstein Holding L.P. (AB) : Free Stock Analysis Report
 
Invesco Ltd. (IVZ) : Free Stock Analysis Report
 
Cohen & Steers Inc (CNS) : Free Stock Analysis Report
 
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Zacks Investment Research