AB Announces August 31, 2020 Assets Under Management

Rhea-AI Summary

AllianceBernstein L.P. (AB) reported a rise in preliminary assets under management to $643 billion in August 2020, up from $623 billion in July, marking a 3.2% increase driven by market appreciation and net inflows. Positive net flows were noted in Institutions and Retail, while Private Wealth saw outflows. Notably, the firm attracted $2.6 billion inflows to its low-fee Lifetime Income Strategies product, with no outflows related to AXA S.A.'s redemptions. Year-to-date, redemptions from AXA reached $11.1 billion of a projected $14 billion.

Positive

• Preliminary assets under management increased to $643 billion from $623 billion, a 3.2% rise.
• Net inflows in Institutions and Retail channels indicate strong demand.
• Lifetime Income Strategies product generated inflows of $2.6 billion.

Negative

• Private Wealth experienced net outflows.

NEW YORK, Sept. 10, 2020 /PRNewswire/ -- AllianceBernstein L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today announced that preliminary assets under management increased to $643 billion during August 2020 from $623 billion at the end of July. The 3.2% increase was due to market appreciation and firmwide net inflows. By channel, Institutions and Retail experienced positive net flows, while Private Wealth experienced net outflows. During the month, the firm experienced inflows to our low-fee retirement related Lifetime Income Strategies (LIS) product of $2.6 billion. Also, there were no outflows resulting from AXA S.A.'s ongoing redemption of certain low-fee fixed income mandates. Year-to-date through August, these redemptions amounted to approximately $11.1 billion of the total expected redemptions of $14 billion.

AllianceBernstein L.P. (The Operating Partnership)
Assets Under Management ($ in Billions)
	At August 31, 2020																		At July 31
																			2020
										Private
	Institutions					Retail				Wealth					Total				Total
Equity
Actively Managed	$	51				$	94			$	48				$	193			$	183
Passive	29					33				—					62				58
Total Equity	80					127				48					255				241
Fixed Income
Taxable	159					83				14					256				255
Tax-Exempt	1					22				25					48				48
Passive	—					9				—					9				9
Total Fixed Income	160					114				39					313				312
Other(1)	57					6				12					75				70
Total	$	297				$	247			$	99				$	643			$	623
	At July 31, 2020
Total	$	287				$	239			$	97				$	623
(1) Includes certain multi-asset services and solutions and certain alternative investments.

Cautions Regarding Forward-Looking Statements

Certain statements provided by management in this news release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. The most significant of these factors include, but are not limited to, the following: the performance of financial markets, the investment performance of sponsored investment products and separately-managed accounts, general economic conditions, industry trends, future acquisitions, integration of acquired companies, competitive conditions, and government regulations, including changes in tax regulations and rates and the manner in which the earnings of publicly-traded partnerships are taxed. AB cautions readers to carefully consider such factors. Further, such forward-looking statements speak only as of the date on which such statements are made; AB undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements. For further information regarding these forward-looking statements and the factors that could cause actual results to differ, see "Risk Factors" and "Cautions Regarding Forward-Looking Statements" in AB's Form 10-K for the year ended December 31, 2019 or subsequent Forms 10-Q. Any or all of the forward-looking statements made in this news release, Form 10-K, Form 10-Q, other documents AB files with or furnishes to the SEC and any other public statements issued by AB, may turn out to be wrong. It is important to remember that other factors besides those listed in "Risk Factors" and "Cautions Regarding Forward-Looking Statements", and those listed above, could also adversely affect AB's financial condition, results of operations and business prospects.

About AllianceBernstein

AllianceBernstein is a leading global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets.

As of June 30, 2020, including both the general partnership and limited partnership interests in AllianceBernstein, AllianceBernstein Holding owned approximately 35.5% of AllianceBernstein and Equitable Holdings, Inc. ("EQH"), directly and through various subsidiaries, owned an approximate 65.2% economic interest in AllianceBernstein.

Additional information about AB may be found on our website, www.alliancebernstein.com.

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SOURCE AllianceBernstein

FAQ

What was the total assets under management for AB in August 2020?

Total assets under management for AB in August 2020 were $643 billion.

What caused the increase in assets under management for AB?

The increase was attributed to market appreciation and firmwide net inflows.

How much inflow did the Lifetime Income Strategies product attract?

The Lifetime Income Strategies product attracted $2.6 billion in inflows.

What were the total redemptions from AXA by August 2020?

Total redemptions from AXA by August 2020 amounted to approximately $11.1 billion.

Did AB experience outflows in any of its channels?

Yes, AB experienced outflows in the Private Wealth channel.