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AllianceBernstein April AUM Rises on Inflows & Market Gains

Zacks Equity Research

AllianceBernstein Holding L.P. AB announced assets under management (AUM) for April 2020. The company’s preliminary month-end AUM of $576 billion increased 6.3% from the prior month. Total net inflows and favorable markets were primarily responsible for this rise.

The reported monthly AUM also reflects $0.3 billion in outflows from AXA S.A.'s redemption of certain low-fee fixed income mandates.

At the end of the reported month, AllianceBernstein’s Equity AUM grew 11.6% sequentially to $211 billion. Fixed Income AUM also increased 2.7% from March 2020 to $300 billion. Others AUM (including certain multi-asset services and solutions, and some alternative investments) was up 6.6% from the prior month to $65 billion.

In terms of channel, month-end Institutions AUM of $273 billion was up 6.2% from March 2020. Retail AUM increased 6.5% on a sequential basis to $212 billion and Private Wealth AUM grew 5.8% to $91 billion.

Improvement in AUM and higher revenues are expected to support AllianceBernstein’s financials. So far this year, the stock has lost 26.6% compared with the industry’s decline of 15.1%.

AllianceBernstein currently carries a Zacks Rank #4 (Sell).

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 $62.1 billion on Apr 30, 2020, increasing 8.3% from the prior-month level. Market appreciation of $4.2 billion and net inflows of $744 million were partially offset by distributions of $198 million.

Franklin Resources BEN reported a rise in preliminary month-end AUM balance. The company’s AUM balance as of Apr 30, 2020 increased 3.3% sequentially to $599.4 billion. The rise was largely driven by strong market performance and increase in net outflows.

Invesco’s IVZ preliminary month-end AUM of $1,118.6 billion for April 2020 represents a 6.2% increase from the previous month. The rise was primarily driven by foreign exchange and favorable market returns.

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