AllianceBernstein's August AUM Up on Solid Markets & Inflows

AllianceBernstein Holding L.P. AB announced assets under management (AUM) for August 2020. The company’s preliminary month-end AUM of $643 billion increased 3.2% from the prior month. Market appreciation and total firm-wide net inflows primarily drove this rise.

The reported monthly AUM also reflects $2.6 billion in inflows to its low-fee retirement related Lifetime Income Strategies (LIS).

At the end of August, AllianceBernstein’s Equity AUM grew 5.8% sequentially to $255 billion. Also, fixed Income AUM increased marginally from July 2020 to $313 billion. Other AUM (including certain multi-asset services and solutions, and some alternative investments) was up 7.1% from the prior month to $75 billion.

In terms of channel, month-end Institutions AUM of $297 billion was up 3.5% from July. Retail AUM increased 3.3% on a sequential basis to $247 billion and Private Wealth AUM grew 2.1% to $99 billion.

Continued improvement in AUM is expected to support AllianceBernstein’s top line. In the past three months, shares of the company have gained 7.9% compared with the industry's rally of 2.7%.

 

 

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 Companies

Cohen & Steers CNS reported preliminary AUM of $72.1 billion as of Aug 31, up 2.8% from the prior-month level. Market appreciation of $1.2 billion and net inflows of $1 billion were partially offset by distributions of $211 million.

Virtus Investment Partners, Inc.’s VRTS preliminary August-end AUM of $116.8 billion represents a 3.6% increase from the previous month.

T. Rowe Price Group, Inc. TROW is expected to report August AUM in the coming days.

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