AB Announces February 28, 2021 Assets Under Management

Rhea-AI Summary

AllianceBernstein L.P. (AB) reported a growth in preliminary assets under management to $688 billion in February 2021, up from $683 billion in January, reflecting a 0.7% increase driven by net inflows and market appreciation. Notably, net inflows to Private Wealth and Retail were somewhat offset by outflows from Institutions. The firm is anticipating approximately $2 billion in ongoing redemptions from AXA S.A.'s low-fee fixed income mandates during the first half of 2021.

Positive

• Preliminary assets under management rose to $688 billion, up 0.7% from January.
• Net inflows were seen in Private Wealth and Retail channels.

Negative

• Net outflows occurred from Institutions, which could impact future growth.

NEW YORK, March 9, 2021 /PRNewswire/ -- AllianceBernstein L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today announced that preliminary assets under management increased to $688 billion during February 2021 from $683 billion at the end of January. Firmwide net inflows and market appreciation drove the 0.7% increase. By channel, net inflows to Private Wealth and Retail were partially offset by net outflows from Institutions. There were no outflows resulting from AXA S.A's ongoing redemption of certain low-fee fixed income mandates, of which approximately $2 billion remains outstanding and continues to be expected in the first half of 2021.

AllianceBernstein L.P. (The Operating Partnership)
Assets Under Management ($ in Billions)
	At February 28, 2021																		At Jan 31
																			2021
										Private
	Institutions					Retail				Wealth					Total				Total
Equity
Actively Managed	$	62				$	111			$	52				$	225			$	219
Passive	27					37				1					65				63
Total Equity	89					148				53					290				282
Fixed Income
Taxable	157					83				15					255				259
Tax-Exempt	1					24				26					51				52
Passive	—					8				—					8				8
Total Fixed Income	158					115				41					314				319
Alternatives/Multi-Asset Solutions(1)	64					6				14					84				82
Total	$	311				$	269			$	108				$	688			$	683
	At January 31, 2021
Total	$	312				$	266			$	105				$	683
(1) Includes certain multi-asset solutions and services not included in equity or fixed income services.

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, 2020. Any or all of the forward-looking statements made in this news release, Form 10-K, 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 AllianceBernstein's assets under management as of February 2021?

As of February 2021, AllianceBernstein's assets under management are $688 billion.

What caused the increase in assets under management for AB in February?

The increase in assets under management was driven by net inflows and market appreciation.

Did AB experience any outflows in February 2021?

Yes, AB experienced net outflows from its Institutional channel.

What are the expectations regarding AXA S.A.'s redemptions?

AXA S.A. is expected to redeem approximately $2 billion of low-fee fixed income mandates in the first half of 2021.