AB Announces March 31, 2023 Assets Under Management

Rhea-AI Summary

On April 12, 2023, AllianceBernstein (AB) reported a preliminary increase in assets under management (AUM) to $676 billion as of March 31, 2023, up from $665 billion at the end of February. This 2% increase is attributed to market appreciation, although it was partially offset by overall net outflows. A breakdown by channel indicates that inflows into Private Wealth did not compensate for outflows from Institutions and Retail channels. The firm continues to navigate a competitive environment while managing investments effectively.

These developments reflect AB's efforts in asset management against the backdrop of prevailing market conditions and investor behavior.

Positive

• Assets under management increased from $665 billion to $676 billion, a 2% rise.
• Market appreciation contributed positively to the growth of AUM.

Negative

• Net outflows from Institutions and Retail outweighed inflows in Private Wealth.

NASHVILLE, Tenn., April 12, 2023 /PRNewswire/ -- AllianceBernstein L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today announced that preliminary assets under management increased to $676 billion during March 2023 from $665 billion at the end of February. The 2% AUM increase was driven by market appreciation, partially offset by firm-wide net outflows. By channel, net inflows into Private Wealth were outweighed by net outflows from Institutions and Retail. 

AllianceBernstein L.P. (The Operating Partnership)
Assets Under Management ($ in Billions)
	At March 31, 2023																At Feb 28
																	2023
									Private
	Institutions				Retail				Wealth				Total				Total
Equity
Actively Managed	$	57			$	124			$	48			$	229			$	226
Passive	22				32				3				57				56
Total Equity	79				156				51				286				282
Fixed Income
Taxable	124				57				17				198				195
Tax-Exempt	1				29				26				56				54
Passive	—				9				—				9				9
Total Fixed Income	125				95				43				263				258
Alternatives/Multi-Asset Solutions(1)	102				6				19				127				125
Total	$	306			$	257			$	113			$	676				665
	At February 28, 2023
Total	$	304			$	251			$	110			$	665
(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, 2022 or form 10-Q for the quarter ended September 30, 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 March 31, 2023, including both the general partnership and limited partnership interests in AllianceBernstein, AllianceBernstein Holding owned approximately 39.3% of AllianceBernstein and Equitable Holdings, Inc. ("EQH"), directly and through various subsidiaries, owned an approximate 61.4% economic interest in AllianceBernstein.

Additional information about AB may be found on our website, www.alliancebernstein.com.

View original content:https://www.prnewswire.com/news-releases/ab-announces-march-31-2023-assets-under-management-301795941.html

SOURCE AllianceBernstein

FAQ

What are the latest asset management figures for AllianceBernstein (AB)?

As of March 31, 2023, AllianceBernstein reported assets under management of $676 billion, an increase from $665 billion in February.

What contributed to the increase in assets under management for AB?

The increase of 2% in AUM was primarily driven by market appreciation despite firm-wide net outflows.

Which channels experienced net outflows for AllianceBernstein (AB)?

AllianceBernstein experienced net outflows from both the Institutions and Retail channels.

How did Private Wealth channel perform in March 2023?

The Private Wealth channel had net inflows, but these were not sufficient to offset outflows from other channels.