AB Announces October 31, 2020 Assets Under Management

Rhea-AI Summary

On November 11, 2020, AllianceBernstein L.P. (NYSE: AB) reported a decrease in preliminary assets under management to $622 billion for October 2020, down from $631 billion in September, reflecting a 1.4% decline. This drop is primarily attributed to market depreciation and net outflows across all channels, including $2.6 billion in money market outflows and $0.7 billion from AXA S.A. Year-to-date, AXA's redemptions reached approximately $11.8 billion, contributing to total expected redemptions of $14 billion.

Positive

• None.

Negative

• Decrease in assets under management by $9 billion (1.4%) from September to October 2020.
• Institutional outflows included $2.6 billion from money markets.
• AXA S.A. redemptions amounted to $11.8 billion year-to-date, indicating substantial client exits.

NEW YORK, Nov. 11, 2020 /PRNewswire/ -- AllianceBernstein L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today announced that preliminary assets under management decreased to $622 billion during October 2020 from $631 billion at the end of September. The 1.4% decrease was due primarily to market depreciation, and to a lesser extent, firmwide net outflows in each channel - Institutions, Retail, and Private Wealth. Institutional outflows reflected $2.6 billion in money market outflows, as well as $0.7 billion from AXA S.A. Year-to-date, AXA redemptions amounted to approximately $11.8 billion of the total expected redemptions of $14 billion.

AllianceBernstein L.P. (The Operating Partnership)
Assets Under Management ($ in Billions)
	At October 31, 2020																		At Sep 30
																			2020
										Private
	Institutions					Retail				Wealth					Total				Total
Equity
Actively Managed	$	51				$	91			$	45				$	187			$	189
Passive	24					31				1					56				58
Total Equity	75					122				46					243				247
Fixed Income
Taxable	152					82				15					249				253
Tax-Exempt	1					22				25					48				48
Passive	—					9				—					9				9
Total Fixed Income	153					113				40					306				310
Other(1)	56					6				11					73				74
Total	$	284				$	241			$	97				$	622			$	631
	At September 30, 2020
Total	$	289				$	243			$	99				$	631
(1) Includes certain multi-asset services and solutions and certain alternative investments.

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, 2019 or subsequent Forms 10-Q. 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 September 30, 2020, including both the general partnership and limited partnership interests in AllianceBernstein, AllianceBernstein Holding owned approximately 35.5% of AllianceBernstein and Equitable Holdings, Inc. ("EQH"), directly and through various subsidiaries, owned an approximate 65.3% 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 in October 2020?

AllianceBernstein's assets under management decreased to $622 billion in October 2020.

What caused the decline in assets under management for AllianceBernstein?

The decline was primarily due to market depreciation and firmwide net outflows across Institutions, Retail, and Private Wealth.

What were the institutional outflows reported by AllianceBernstein?

Institutional outflows included $2.6 billion in money market outflows in October 2020.

How much did AXA redeem from AllianceBernstein year-to-date?

AXA's redemptions from AllianceBernstein totaled approximately $11.8 billion year-to-date.

What is the expected total of AXA redemptions from AllianceBernstein?

The total expected redemptions from AXA are $14 billion.