Favorable markets are likely to stoke AUM growth of AllianceBernstein (AB) in the upcoming period.
AllianceBernstein L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today announced that preliminary assets under management increased to $724 billion during April 2021 from $697 billion at the end of March. Firm wide net inflows into all three distribution channels - Institutions, Retail, and Private Wealth, coupled with market appreciation, drove the 3.9% increase. During the month, the firm experienced inflows to our low-fee Customized Retirement Strategies (CRS) platform of $3.1 billion. April month-end AUM also reflected $0.9 billion of outflows resulting from AXA S.A's ongoing redemption of certain low-fee fixed income mandates, of which approximately $1 billion remains outstanding, the majority of which is expected in the second quarter of 2021.
Joining me on today's call is Mark Pearson, President and Chief Executive Officer of Equitable Holdings; Robin Raju, our Chief Financial Officer; Nick Lane, President of Equitable Financial; and Ali Dibadj, AllianceBernstein's Chief Financial Officer and Head of Strategy. During this call, we will be discussing certain financial measures that are not based on generally accepted accounting principles, also known as non-GAAP measures.