AB Announces March 31, 2021 Assets Under Management

Rhea-AI Summary

On April 12, 2021, AllianceBernstein L.P. (NYSE: AB) reported a rise in preliminary assets under management to $697 billion in March 2021, up from $688 billion in February. This 1.3% growth was due to net inflows across all distribution channels and market appreciation. Notably, the firm experienced no outflows linked to AXA S.A's redemption of low-fee fixed income mandates, with approximately $2 billion still outstanding, anticipated in Q2 2021. The firm continues to manage a diverse investment portfolio, serving various investors globally.

Positive

• Preliminary assets under management increased to $697 billion from $688 billion, reflecting a 1.3% rise.
• Net inflows were noted across all distribution channels: Institutions, Retail, and Private Wealth.
• No outflows were reported related to AXA S.A's redemption of certain low-fee fixed income mandates.

Negative

• None.

NEW YORK, April 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 $697 billion during March 2021 from $688 billion at the end of February. Firmwide net inflows into all three distribution channels - Institutions, Retail, and Private Wealth, coupled with market appreciation, drove the 1.3% increase. 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, the majority of which is expected in the second quarter of 2021.

AllianceBernstein L.P. (The Operating Partnership)
Assets Under Management ($ in Billions)
	At March 31, 2021																	At Feb 28
																		2021
										Private
	Institutions					Retail				Wealth					Total			Total
Equity
Actively Managed	$	64				$	115			$	53				$	232		$	225
Passive	28					37						1			66			65
Total Equity	92					152				54					298			290
Fixed Income
Taxable	157					81				14					252			255
Tax-Exempt	1					24				27					52			51
Passive			—			8						—			8			8
Total Fixed Income	158					113				41					312			314
Alternatives/Multi-Asset Solutions(1)	65					7				15					87			84
Total	$	315				$	272			$	110				$	697		$	688
	At February 28, 2021
Total	$	311				$	269			$	108				$	688

(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 March 31, 2021, including both the general partnership and limited partnership interests in AllianceBernstein, AllianceBernstein Holding owned approximately 36.5% of AllianceBernstein and Equitable Holdings, Inc. ("EQH"), directly and through various subsidiaries, owned an approximate 64.3% 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 March 2021?

As of March 31, 2021, AllianceBernstein's assets under management were $697 billion.

What caused the increase in AllianceBernstein's assets under management in March 2021?

The increase was driven by net inflows across all distribution channels and market appreciation.

Did AXA S.A's redemption of fixed income mandates affect AllianceBernstein's assets?

No outflows were reported due to AXA S.A's redemption; approximately $2 billion remains outstanding.

How did the asset management performance of AllianceBernstein look in March 2021?

The firm reported a 1.3% increase in assets under management from February to March 2021.

What are the primary channels contributing to AllianceBernstein's asset inflows?

The primary channels for asset inflows are Institutions, Retail, and Private Wealth.