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AllianceBernstein October AUM Up on Inflows & Market Gains

Zacks Equity Research

AllianceBernstein Holding L.P. AB has announced assets under management (AUM) for October 2019. The company’s preliminary month-end AUM of $601 billion increased 1.5% 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 2.8% sequentially to $223 billion. Fixed Income AUM increased marginally from September 2019 to $309 billion. Others AUM (including certain multi-asset services and solutions, and certain alternative investments) was up 3% to $69 billion.

By channel, month-end Institutions AUM of $275 billion was up 1.1% from September 2019. Retail AUM increased 2.2% on a sequential basis to $223 billion while Private Wealth AUM rose 1% to $97 billion.

Improvement in AUM and higher revenues are expected to support AllianceBernstein’s financials. Over the past year, the stock has lost 1.4% against the industry’s rally of 9.9%.


 

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 $72 billion as of Oct 31, 2019, up 1.6% from the prior-month level. Market appreciation of $967 million and net inflows of $333 million were partly offset by distributions of $186 million.

Franklin Resources BEN announced preliminary AUM of $693.1 billion for October 2019. Results displayed a slight rise from $692.6 billion recorded as of Sep 30, 2019. Net market gains led to the improvement, partially offset by net outflows.

Invesco’s IVZ preliminary month-end AUM of $1,195.2 billion for October 2019 increased nearly 1% from the prior month. The rise was primarily driven by foreign exchange, reinvested distributions and favorable market returns.

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