AB Announces July 31, 2020 Assets Under Management

Rhea-AI Summary

On August 11, 2020, AllianceBernstein L.P. (AB) reported a 3.8% increase in assets under management (AUM), rising from $600 billion in June to $623 billion in July 2020. This growth was attributed to market appreciation and positive net inflows from retail and institutional channels. However, the Private Wealth channel experienced outflows, including $2.2 billion from AXA S.A., contributing to year-to-date redemptions of $11.1 billion of the expected $14 billion in total redemptions.

Positive

• AUM increased by $23 billion in July 2020.
• Positive net inflows from Retail and Institutional channels.

Negative

• $2.2 billion outflow attributed to AXA S.A.'s low-fee fixed income mandates.
• Private Wealth channel faced net outflows.

NEW YORK, Aug. 11, 2020 /PRNewswire/ -- AllianceBernstein L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today announced that preliminary assets under management increased to $623 billion during July 2020 from $600 billion at the end of June. The 3.8% increase was due to market appreciation and firmwide net inflows. By channel, Retail and Institutions experienced positive net flows, while Private Wealth experienced outflows. July month-end AUM also reflected $2.2 billion in outflows resulting from AXA S.A.'s redemption of certain low-fee fixed income mandates. Year-to-date through July, 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 July 31, 2020																		At June 30
																			2020
										Private
	Institutions					Retail				Wealth					Total				Total
Equity
Actively Managed	$	48				$	89			$	46				$	183			$	172
Passive	27					31				—					58				55
Total Equity	75					120				46					241				227
Fixed Income
Taxable	158					83				14					255				248
Tax-Exempt	1					21				26					48				47
Passive	—					9				—					9				10
Total Fixed Income	159					113				40					312				305
Other(1)	53					6				11					70				68
Total	$	287				$	239			$	97				$	623			$	600
	At June 30, 2020
Total	$	276				$	230			$	94				$	600
(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 is AllianceBernstein's assets under management as of July 31, 2020?

As of July 31, 2020, AllianceBernstein's assets under management increased to $623 billion.

What factors contributed to the increase in AUM for AllianceBernstein in July 2020?

The increase in AUM was due to market appreciation and firmwide net inflows from Retail and Institutions.

What were the outflows reported by AllianceBernstein in July 2020?

AllianceBernstein reported $2.2 billion in outflows resulting from AXA S.A.'s redemption of low-fee fixed income mandates.

How much were the total expected redemptions for AllianceBernstein in 2020?

The total expected redemptions for AllianceBernstein in 2020 amounted to approximately $14 billion.

What was the total year-to-date redemption amount for AllianceBernstein as of July 2020?

As of July 2020, the year-to-date redemption amount for AllianceBernstein was approximately $11.1 billion.