AB Announces October 31, 2023 Assets Under Management

Rhea-AI Summary

AllianceBernstein Holding L.P. (AB) announces a 2.5% decrease in preliminary assets under management (AUM) to $652 billion in October 2023, primarily due to market depreciation and net outflows. Institutions and Private Wealth experienced net outflows, while Retail net flows remained flat. The decrease in AUM is a result of market conditions and client activity.

Positive

• The AUM decrease is primarily due to market depreciation and net outflows, which is a common occurrence in the investment industry.
• Retail net flows remaining flat in October indicates stability in that channel, which could be seen as a positive sign for the company's retail business.

Negative

• The decrease in AUM could potentially impact the company's revenue and profitability, especially if the trend continues in the coming months.

NASHVILLE, Tenn., Nov. 9, 2023 /PRNewswire/ -- AllianceBernstein L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today announced that preliminary assets under management decreased to $652 billion during October 2023 from $669 billion at the end of September. The 2.5% AUM decrease was primarily due to market depreciation, coupled with net outflows. By channel, Institutions and Private Wealth experienced net outflows while Retail net flows were flat in October.    

AllianceBernstein L.P. (The Operating Partnership)
Assets Under Management ($ in Billions)
	At October 31, 2023																Sep 30,
																	2023
									Private
	Institutions				Retail				Wealth				Total				Total
Equity
Actively Managed	$	53			$	121			$	45			$	219			$	227
Passive	21				30				3				54				56
Total Equity	74				151				48				273				283
Fixed Income
Taxable	115				58				17				190				195
Tax-Exempt	1				29				25				55				56
Passive	—				10				—				10				9
Total Fixed Income	116				97				42				255				260
Alternatives/Multi-Asset Solutions(1)	98				6				20				124				126
Total	$	288			$	254			$	110			$	652			$	669
	At September 30, 2023
Total	$	297			$	259			$	113			$	669
(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, 2023. 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, 2023, including both the general partnership and limited partnership interests in AllianceBernstein, AllianceBernstein Holding owned approximately 39.0% of AllianceBernstein and Equitable Holdings, Inc. ("EQH"), directly and through various subsidiaries, owned an approximate 61.7% 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-october-31-2023-assets-under-management-301983905.html

SOURCE AllianceBernstein

FAQ

What caused the decrease in AllianceBernstein Holding L.P.'s AUM in October 2023?

The decrease in AUM was primarily due to market depreciation and net outflows from Institutions and Private Wealth channels.

What was the total AUM at the end of October 2023?

The preliminary AUM decreased to $652 billion in October 2023 from $669 billion at the end of September.

How did Retail net flows perform in October 2023?

Retail net flows remained flat in October, indicating stability in that channel.

What are the implications of the AUM decrease for AllianceBernstein Holding L.P.?

The decrease in AUM could potentially impact the company's revenue and profitability, especially if the trend continues in the coming months.