AB Announces May 31, 2024 Assets Under Management

Rhea-AI Summary

AllianceBernstein (AB) and AllianceBernstein Holding (AB Holding) reported a 3% increase in assets under management (AUM), rising from $736 billion at the end of April 2024 to $757 billion as of May 31, 2024. This growth was driven by market appreciation and net inflows across the firm's Retail and Institutional segments, though there were slight net outflows in the Private Wealth channel. The detailed breakdown shows an increase in both equity and fixed income assets, as well as growth in multi-asset solutions.

Positive

• 3% increase in AUM from $736 billion to $757 billion.
• Market appreciation and net inflows drove growth.
• Net inflows in Retail and Institutional channels.
• Growth in both actively managed and passive equity assets.
• Fixed income assets rose from $284 billion to $290 billion.
• Multi-asset solutions increased from $140 billion to $143 billion.

Negative

• Slight net outflows in the Private Wealth channel.

Insights

Financial Analyst

The increase in assets under management (AUM) to $757 billion from $736 billion represents a 3% growth. This is a noteworthy accomplishment within a single month, driven by market appreciation and net inflows. For investors, this signals strong performance and effective asset management strategies. However, it is essential to break down the numbers:

Equity AUM increased to $324 billion, with both actively managed and passive equities showing growth. This indicates robust market performance and likely strong stock selection. Fixed Income AUM rose to $290 billion, driven mainly by taxable fixed income, which may reflect investor confidence in the bond market amidst potential economic uncertainties.

Interestingly, there were net outflows in Private Wealth, which signals some client dissatisfaction or reallocation of assets. While overall growth in AUM is positive, these outflows in a specific category can be a red flag for certain segments of investors who prioritize private wealth management services.

In summary, this AUM growth demonstrates successful asset management and positive market trends. However, potential concerns in specific segments need to be monitored.

Market Research Analyst

The breakdown of AUM provides valuable insights into investor behavior and market conditions. The increase in retail and institutional inflows suggests strong market confidence and effective marketing strategies by AB. These inflows are important indicators of brand strength and competitive positioning in the financial services industry.

The slight net outflows in Private Wealth raise questions about client retention and service satisfaction in this high-touch segment. For retail investors, understanding these dynamics can help gauge the overall health and client satisfaction levels at AB, which are critical for long-term stability and growth.

Moreover, the growth in Alternatives/Multi-Asset Solutions to $143 billion from $140 billion indicates a rising interest in diversified investment strategies, suggesting that AB is well-positioned to capture evolving market trends and preferences.

NASHVILLE, Tenn., June 11, 2024 /PRNewswire/ -- AllianceBernstein L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today announced that preliminary assets under management increased to $757 billion during May 2024 from $736 billion at the end of April. The 3% increase was driven by market appreciation and firmwide net inflows. By channel, net inflows in Retail and Institutions were partially offset by slight net outflows in Private Wealth.  

AllianceBernstein L.P. (The Operating Partnership)
Assets Under Management ($ in Billions)
	At May 31, 2024																Apr 30,
																	2024
									Private
	Institutions				Retail				Wealth				Total				Total
Equity
Actively Managed	$	57			$	150			$	53			$	260			$	251
Passive	23				36				5				64				61
Total Equity	80				186				58				324				312
Fixed Income
Taxable	127				69				18				214				209
Tax-Exempt	1				36				28				65				64
Passive	—				11				—				11				11
Total Fixed Income	128				116				46				290				284
Alternatives/Multi-Asset Solutions(1)	112				7				24				143				140
Total	$	320			$	309				128				757				736
	At April 30, 2024
Total	$	313			$	298			$	125			$	736
(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, 2023 or form 10-Q for the quarter ended March 31, 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, 2024, including both the general partnership and limited partnership interests in AllianceBernstein, AllianceBernstein Holding owned approximately 39.7% of AllianceBernstein and Equitable Holdings, Inc. ("EQH"), directly and through various subsidiaries, owned an approximate 61.0% 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-may-31-2024-assets-under-management-302169821.html

SOURCE AllianceBernstein

FAQ

What was AllianceBernstein's AUM as of May 31, 2024?

AllianceBernstein's AUM was $757 billion as of May 31, 2024.

How much did AB's AUM increase in May 2024?

AB's AUM increased by 3% in May 2024.

What factors contributed to the increase in AB’s AUM in May 2024?

The increase was driven by market appreciation and net inflows in Retail and Institutional channels.

Which AB segment experienced net outflows in May 2024?

The Private Wealth channel experienced slight net outflows.

What was the AUM for AB’s fixed income assets as of May 31, 2024?

AB’s fixed income assets totaled $290 billion as of May 31, 2024.