AB Announces October 31, 2024 Assets Under Management

Rhea-AI Summary

AllianceBernstein L.P. (AB) and AllianceBernstein Holding L.P. (AB Holding) announced on November 12, 2024, that their preliminary assets under management (AUM) decreased to $793 billion as of October 31, 2024, down from $806 billion at the end of September. This 2% decline is attributed solely to market depreciation, while firmwide net flows remained flat. By channel, net inflows in Private Wealth and Retail were counterbalanced by Institutional net outflows.

As of October 31, 2024, AB's Equity AUM totaled $333 billion down from $340 billion in September. Fixed Income AUM was $297 billion, a slight decrease from $299 billion. Alternatives/Multi-Asset Solutions stood at $163 billion, down from $167 billion. Overall, the total AUM dropped from $806 billion to $793 billion.

Positive

• None.

Negative

• AUM decreased by 2% from $806 billion to $793 billion.
• Equity AUM dropped from $340 billion to $333 billion.
• Fixed Income AUM decreased from $299 billion to $297 billion.
• Alternatives/Multi-Asset Solutions AUM fell from $167 billion to $163 billion.
• Institutional net outflows offset by net inflows in Private Wealth and Retail.

Insights

Financial Analyst

The $13 billion decrease in AllianceBernstein's AUM to $793 billion signals challenging market conditions affecting asset management firms. The 2% monthly decline was entirely due to market depreciation, with flat net flows indicating stable client retention despite market headwinds. The mixed flow dynamics across channels - positive in Private Wealth and Retail but negative in Institutional - suggest varying investor sentiment and potential pressure on management fees.

Equity AUM saw the largest decline, dropping $7 billion to $333 billion, while fixed income remained relatively resilient with just a $2 billion decrease. This performance aligns with broader market trends where rising rates and economic uncertainties have impacted equity valuations more significantly than fixed income portfolios. The flat net flows amid market volatility demonstrate AB's ability to maintain its client base, though sustained market pressure could affect future revenue growth.

NASHVILLE, Tenn., Nov. 12, 2024 /PRNewswire/ -- AllianceBernstein L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today announced that preliminary assets under management decreased to $793 billion during October 2024 from $806 billion at the end of September. The 2% decrease in month-end AUM was entirely driven by market depreciation, as firmwide net flows were flat in October. By channel, net inflows in Private Wealth and Retail were offset by Institutional net outflows.

AllianceBernstein L.P. (The Operating Partnership)
Assets Under Management ($ in Billions)
	At October 31, 2024																Sep 30,
																	2024
									Private
	Institutions				Retail				Wealth				Total				Total
Equity
Actively Managed	$	53			$	158			$	54			$	265			$	271
Passive	24				38				6				68				69
Total Equity	77				196				60				333				340
Fixed Income
Taxable	119				76				19				214				216
Tax-Exempt	2				40				30				72				71
Passive	—				11				—				11				12
Total Fixed Income	121				127				49				297				299
Alternatives/Multi-Asset Solutions(1)	129				7				27				163				167
Total	$	327			$	330				136				793				806
	At September 30, 2024
Total	$	335			$	335			$	136			$	806
(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-october-31-2024-assets-under-management-302303194.html

SOURCE AllianceBernstein

FAQ

What was AB's assets under management (AUM) at the end of October 2024?

AB's assets under management (AUM) at the end of October 2024 were $793 billion.

How did AB's AUM change from September to October 2024?

AB's AUM decreased by 2%, from $806 billion in September to $793 billion in October 2024.

What caused AB's AUM to decrease in October 2024?

The decrease in AB's AUM in October 2024 was entirely driven by market depreciation.

What were the net flows for AB's Private Wealth and Retail channels in October 2024?

Net inflows in AB's Private Wealth and Retail channels were offset by Institutional net outflows, resulting in flat firmwide net flows in October 2024.

How did AB's Equity AUM change in October 2024?

AB's Equity AUM decreased from $340 billion in September to $333 billion in October 2024.

What was the AUM for AB's Fixed Income in October 2024?

AB's Fixed Income AUM was $297 billion in October 2024, down from $299 billion in September.

What was the AUM for AB's Alternatives/Multi-Asset Solutions in October 2024?

AB's Alternatives/Multi-Asset Solutions AUM was $163 billion in October 2024, a decrease from $167 billion in September.