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AllianceBernstein November AUM Up on Inflows & Market Gains

Zacks Equity Research

AllianceBernstein Holding L.P. AB has announced assets under management (AUM) for November 2019. The company’s preliminary month-end AUM of $611 billion increased 1.7% from the prior month. Total net inflows and favorable markets were the primary reasons for this rise.

At the end of the reported month, AllianceBernstein’s Equity AUM grew 3.1% sequentially to $230 billion. Fixed Income AUM increased nearly 1% from October 2019 to $311 billion. Others AUM (including certain multi-asset services and solutions, and certain alternative investments) was up 1.5% to $70 billion.

By channel, month-end Institutions AUM of $278 billion was up 1.1% from October. Retail AUM increased 2.2% on a sequential basis to $233 billion while Private Wealth AUM rose 2% to $100 billion.

Improvement in AUM and higher revenues are expected to support AllianceBernstein’s financials. Over the past six months, the stock has gained 5% against the industry’s decline of 3.7%.

 


 

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 $71.2 billion as of Nov 30, 2019, down 1.1% from the prior-month level. Net inflows of $630 million were more than offset by market depreciation of $656 million and distributions of $758 million.

Franklin Resources BEN announced preliminary AUM by its subsidiaries of $691.3 billion for November 2019. Results display marginal decrease from the $693.1 billion recorded in the prior month. Net outflows were partly offset by net market gains.

Invesco’s IVZ preliminary month-end AUM of $1,201.9 billion for November 2019 inched up 0.6% from the prior month. This upside stemmed from favorable market returns and non-management fee earning AUM.

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