AB Announces March 31, 2025 Assets Under Management

Rhea-AI Summary

AllianceBernstein (AB) reported a decrease in assets under management (AUM) to $784 billion in March 2025, down 2.6% from $805 billion in February 2025. The decline was attributed to market depreciation, which offset net inflows across all three channels: Institutional, Retail, and Private Wealth.

For Q1 2025, the firm recorded preliminary net inflows of $2.3 billion. The AUM breakdown shows:

• Equity: $315 billion (Active: $249B, Passive: $66B)
• Fixed Income: $300 billion (Taxable: $212B, Tax-Exempt: $78B, Passive: $10B)
• Alternatives/Multi-Asset Solutions: $169 billion

Positive

• Net inflows recorded across all three channels in March 2025
• Positive Q1 2025 net inflows of $2.3 billion
• Strong retail presence with $151B in actively managed equity

Negative

• AUM decreased by 2.6% month-over-month to $784B
• Market depreciation offset positive net inflows
• Equity AUM declined from $333B to $315B

Insights

Financial Analyst

AllianceBernstein's latest AUM report reveals a 2.6% month-over-month decline to $784 billion, primarily driven by market depreciation that overshadowed positive net inflows across all distribution channels. The equity segment bore the brunt of this decline, dropping from $333 billion to $315 billion, with actively managed equity assets falling $14 billion to $249 billion.

Despite the monthly AUM reduction, the firm secured $2.3 billion in net inflows for Q1 2025, demonstrating underlying business resilience. This balanced dynamic creates a nuanced investment thesis: while the reduced AUM will likely pressure near-term management fee revenue (the company's primary income source), the continued client inflows indicate healthy business fundamentals and client confidence.

The product mix evolution deserves attention - actively managed equity strategies typically generate higher fee rates than passive strategies or fixed income products. Meanwhile, the stability in alternatives/multi-asset solutions ($169 billion, unchanged) provides some revenue protection, as these higher-margin products help offset pressure in other segments.

Examining distribution channels, Retail appears most impacted with a $13 billion reduction to $324 billion in AUM. The Institutional channel declined by $4 billion to $324 billion, while Private Wealth decreased $4 billion to $136 billion. This channel mix will affect blended fee rates, as institutional mandates typically carry lower fees than retail and private wealth.

NASHVILLE, Tenn., April 9, 2025 /PRNewswire/ -- AllianceBernstein L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today announced that preliminary assets under management decreased to $784 billion during March 2025 from $805 billion at the end of February. Net inflows across all three channels (Institutional, Retail and Private Wealth) were offset by market depreciation during March, resulting in a 2.6% decline in month-end AUM. For the quarter-ended March 2025, preliminary firmwide net inflows totaled $2.3 billion.  

AllianceBernstein L.P. (The Operating Partnership)
Assets Under Management ($ in Billions)
	At March 31, 2025																Feb 28,
																	2025
									Private
	Institutions				Retail				Wealth				Total				Total
Equity
Actively Managed	$	47			$	151			$	51			$	249			$	263
Passive	24				35				7				66				70
Total Equity	71				186				58				315				333
Fixed Income
Taxable	118				74				20				212				214
Tax-Exempt	2				46				30				78				79
Passive	—				10				—				10				10
Total Fixed Income	120				130				50				300				303
Alternatives/Multi-Asset Solutions(1)	133				8				28				169				169
Total	$	324			$	324			$	136			$	784			$	805
	At February 28, 2025
Total	$	328			$	337			$	140			$	805
(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, 2024 or form 10-Q for the quarter ended September 30, 2024. 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 diversified investment services to institutional investors, individuals and private wealth clients in major world markets.

As of March 31, 2025, including both the general partnership and limited partnership interests in AllianceBernstein, AllianceBernstein Holding owned approximately 37.5% of AllianceBernstein and Equitable Holdings, Inc. ("EQH"), directly and through various subsidiaries, owned an approximate 61.9% 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 caused AB's AUM to decrease in March 2025?

AB's AUM decreased due to market depreciation, which offset positive net inflows across all channels, resulting in a 2.6% decline from $805B to $784B.

How much were AB's net inflows in Q1 2025?

AB reported preliminary firmwide net inflows of $2.3 billion for the quarter ended March 2025.

What is the distribution of AB's assets across different investment categories as of March 2025?

AB's AUM includes $315B in Equity, $300B in Fixed Income, and $169B in Alternatives/Multi-Asset Solutions.

How much actively managed equity AUM does AB have across different channels?

AB's actively managed equity AUM totals $249B, distributed across Institutional ($47B), Retail ($151B), and Private Wealth ($51B) channels.