AB Announces December 31, 2020 Assets Under Management

Rhea-AI Summary

AllianceBernstein L.P. and AllianceBernstein Holding L.P. (NYSE: AB) reported a rise in preliminary assets under management to $686 billion by December 2020, a 2.7% increase from $668 billion in November. This growth stemmed from market appreciation, despite some net outflows across private wealth and retail channels. Notably, AXA S.A’s ongoing redemptions contributed to around $11.8 billion in expected redemptions for the year, with total expected redemptions amounting to $14 billion.

Positive

• Preliminary assets under management increased to $686 billion, a 2.7% rise.
• Market appreciation was a key factor for growth.

Negative

• Modest firmwide net outflows were reported.
• Continued redemptions from AXA S.A. resulted in significant expected outflows.

NEW YORK, Jan. 12, 2021 /PRNewswire/ -- AllianceBernstein L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today announced that preliminary assets under management increased to $686 billion during December 2020 from $668 billion at the end of November. The 2.7% increase was due to market appreciation, partially offset by modest firmwide net outflows. By channel, net outflows from Private Wealth and Retail were partly offset by net inflows to Institutions. There were no outflows resulting from AXA S.A's ongoing redemption of certain low-fee fixed income mandates. In 2020, these redemptions amounted to approximately $11.8 billion of the total expected redemptions of $14 billion.

AllianceBernstein L.P. (The Operating Partnership)
Assets Under Management ($ in Billions)
	At December 31, 2020																		At Nov 30
																			2020
										Private
	Institutions					Retail				Wealth					Total				Total
Equity
Actively Managed	$	60				$	107			$	51				$	218			$	208
Passive	28					36				—					64				62
Total Equity	88					143				51					282				270
Fixed Income
Taxable	164					85				15					264				261
Tax-Exempt	1					23				26					50				50
Passive	—					8				—					8				9
Total Fixed Income	165					116				41					322				320
Other(1)	63					6				13					82				78
Total	$	316				$	265			$	105				$	686			$	668
	At November 30, 2020
Total	$	307				$	258			$	103				$	668
(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 December 31, 2020, including both the general partnership and limited partnership interests in AllianceBernstein, AllianceBernstein Holding owned approximately 36.0% of AllianceBernstein and Equitable Holdings, Inc. ("EQH"), directly and through various subsidiaries, owned an approximate 64.8% 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 are the latest assets under management for AB as of December 2020?

As of December 2020, AB reported preliminary assets under management of $686 billion.

Did AB experience any net outflows in December 2020?

Yes, AB experienced modest firmwide net outflows, primarily from Private Wealth and Retail.

What caused the increase in AB's assets under management?

The increase was driven by market appreciation.

How much in redemptions from AXA S.A. did AB report in 2020?

In 2020, AXA S.A.'s redemptions amounted to approximately $11.8 billion.

What percentage increase did AB see in assets under management from November to December 2020?

AB saw a 2.7% increase in assets under management from November to December 2020.