AB Announces June 30, 2022 Assets Under Management

Rhea-AI Summary

AllianceBernstein (AB) reported a decrease in assets under management (AUM) to $647 billion as of June 30, 2022, down from $687 billion at the end of May, representing a 6% decline. This drop was mainly due to negative market conditions and modest net outflows. Notably, AUM included $0.5 billion from ongoing redemptions by AXA S.A. for low-fee mandates, with an estimated $4.0 billion pending redemption by year-end. While Private Wealth saw net inflows, Retail and Institutions experienced outflows, reflecting mixed performance across channels.

Positive

• Institutional net flows for June were positive, excluding the impact of AXA redemptions.
• Private Wealth segment reported net inflows, indicating continued demand.

Negative

• Overall AUM decreased by 6%, indicating market challenges.
• Ongoing redemptions by AXA S.A. will lead to substantial outflows, affecting AUM.

NASHVILLE, Tenn., July 12, 2022 /PRNewswire/ -- AllianceBernstein L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today announced that preliminary assets under management decreased to $647 billion during June 2022 from $687 billion at the end of May. The 6% decrease was primarily attributed to negative markets, coupled with modest firm-wide net outflows. By channel, net inflows to Private Wealth were offset by net outflows from Retail and Institutions. June month-end AUM reflected $0.5 billion of outflows resulting from AXA S.A's ongoing redemption of certain low-fee fixed income mandates, of which approximately $4.0 billion remains outstanding and is expected to be redeemed by year-end. Excluding these AXA outflows, Institutional net flows were positive for the month of June.

AllianceBernstein L.P. (The Operating Partnership)
Assets Under Management ($ in Billions)
	At June 30, 2022																At May 31
																	2022
									Private
	Institutions				Retail				Wealth				Total				Total
Equity
Actively Managed	$	58			$	118			$	47			$	223			$	242
Passive	23				31				2				56				61
Total Equity	81				149				49				279				303
Fixed Income
Taxable	133				55				13				201				211
Tax-Exempt	1				28				25				54				55
Passive	—				12				—				12				12
Total Fixed Income	134				95				38				267				278
Alternatives/Multi-Asset Solutions(1)	76				7				18				101				106
Total	$	291			$	251			$	105			$	647				687
	At May 31, 2022
Total	$	308			$	269			$	110			$	687
(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, 2021 or form 10-Q for the quarter ended March 31, 2022. 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, 2022, including both the general partnership and limited partnership interests in AllianceBernstein, AllianceBernstein Holding owned approximately 35.7% of AllianceBernstein and Equitable Holdings, Inc. ("EQH"), directly and through various subsidiaries, owned an approximate 65.0% 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 were AllianceBernstein's assets under management as of June 30, 2022?

As of June 30, 2022, AllianceBernstein reported assets under management of $647 billion.

What factors contributed to the decrease in AUM for AllianceBernstein in June 2022?

The decrease in AUM was primarily due to negative market conditions and modest firm-wide net outflows.

How much is expected to be redeemed by AXA S.A. by year-end?

AXA S.A. has approximately $4.0 billion remaining in low-fee fixed income mandates expected to be redeemed by year-end.

What segments experienced inflows and outflows for AllianceBernstein in June 2022?

In June 2022, the Private Wealth segment experienced net inflows, while Retail and Institutions faced net outflows.