AB Announces November 30, 2024 Assets Under Management

Rhea-AI Summary

AllianceBernstein (AB) reported an increase in assets under management (AUM) to $813 billion in November 2024, up 2.5% from $793 billion in October 2024. The growth was primarily driven by market appreciation, though partially offset by net outflows. While Retail and Private Wealth channels experienced net inflows, these were outweighed by Institutional net outflows.

The AUM breakdown shows: Equity at $343 billion ($272B actively managed, $71B passive), Fixed Income at $303 billion ($215B taxable, $77B tax-exempt, $11B passive), and Alternatives/Multi-Asset Solutions at $167 billion. By channel, assets were distributed across Institutions ($332B), Private Wealth ($139B), and Retail ($342B).

Positive

• AUM increased by 2.5% to $813 billion
• Market appreciation drove overall AUM growth
• Net inflows recorded in Retail and Private Wealth channels

Negative

• Institutional channel experienced net outflows
• Net outflows partially offset market appreciation gains

Insights

Financial Analyst

The $20 billion increase in AUM to $813 billion represents a solid 2.5% monthly growth for AllianceBernstein. The growth was primarily driven by market appreciation across all asset classes, with particularly strong performance in equity assets, which increased by $10 billion. However, the institutional net outflows are concerning, as they offset positive flows from retail and private wealth channels. Fixed income assets showed resilience, growing by $7 billion, with tax-exempt strategies performing notably well with a $5 billion increase. The alternatives segment also demonstrated steady growth, adding $3 billion. This mixed performance suggests both opportunities and challenges in AB's business model, with strong market performance helping to overcome some distribution headwinds.

Market Research Analyst

The November AUM data reveals interesting shifts in investor preferences. The growth in passive equity strategies, up $3 billion, reflects the ongoing industry trend toward low-cost investment options. The strong performance in tax-exempt fixed income, growing by $5 billion, indicates increased demand for tax-efficient solutions in a high-rate environment. The continued expansion of alternatives and multi-asset solutions, now at $167 billion, demonstrates institutional investors' growing appetite for diversification beyond traditional asset classes. The contrasting flows between institutional and retail/private wealth channels suggest a potential repositioning by larger investors, while individual investors maintain their investment positions.

NASHVILLE, Tenn., Dec. 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 $813 billion during November 2024 from $793 billion at the end of October. The 2.5% increase in month-end AUM was driven by market appreciation, partially offset by net outflows. By channel, net inflows in Retail and Private Wealth were outweighed by Institutional net outflows.

AllianceBernstein L.P. (The Operating Partnership)
Assets Under Management ($ in Billions)
	At November 30, 2024																Oct 31,
																	2024
									Private
	Institutions				Retail				Wealth				Total				Total
Equity
Actively Managed	$	51			$	165			$	56			$	272			$	265
Passive	26				39				6				71				68
Total Equity	77				204				62				343				333
Fixed Income
Taxable	121				75				19				215				213
Tax-Exempt	2				45				30				77				72
Passive	—				11				—				11				11
Total Fixed Income	123				131				49				303				296
Alternatives/Multi-Asset Solutions(1)	132				7				28				167				164
Total	$	332			$	342				139				813				793
	At October 31, 2024
Total	$	327			$	330			$	136			$	793

(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 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 September 30, 2024, 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 61.6% 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-november-30-2024-assets-under-management-302329319.html

SOURCE AllianceBernstein

FAQ

What was AllianceBernstein's (AB) total AUM as of November 30, 2024?

AllianceBernstein's total AUM as of November 30, 2024, was $813 billion.

How much did AB's assets under management increase in November 2024?

AB's AUM increased by 2.5%, from $793 billion in October to $813 billion in November 2024.

What caused the increase in AB's AUM in November 2024?

The increase was driven by market appreciation, although partially offset by net outflows.

How were AB's assets distributed across different investment categories in November 2024?

AB's assets were distributed as follows: Equity ($343B), Fixed Income ($303B), and Alternatives/Multi-Asset Solutions ($167B).

Which of AB's business channels experienced net inflows in November 2024?

Retail and Private Wealth channels experienced net inflows during November 2024.