AB Announces September 30, 2024 Assets Under Management

Rhea-AI Summary

AllianceBernstein (NYSE: AB) reported a 2% increase in assets under management (AUM) for September 2024, reaching $806 billion from $791 billion at the end of August. The growth was attributed to market appreciation and net inflows across all distribution channels - Retail, Institutions, and Private Wealth. For Q3 2024, preliminary firmwide net inflows totaled $0.9 billion.

The AUM breakdown as of September 30, 2024, shows:

• Equity: $340 billion (Actively Managed: $271 billion, Passive: $69 billion)
• Fixed Income: $299 billion (Taxable: $216 billion, Tax-Exempt: $71 billion, Passive: $12 billion)
• Alternatives/Multi-Asset Solutions: $167 billion

The distribution of AUM across channels was: Institutions $336 billion, Retail $334 billion, and Private Wealth $136 billion.

Positive

• 2% increase in assets under management (AUM) to $806 billion
• Net inflows across all distribution channels
• Preliminary firmwide net inflows of $0.9 billion for Q3 2024
• Growth in all asset classes: Equity, Fixed Income, and Alternatives/Multi-Asset Solutions

Negative

• None.

Insights

Financial Analyst

The September 2024 assets under management (AUM) report for AllianceBernstein shows positive momentum. The firm's AUM increased by 2% month-over-month to $806 billion, driven by market appreciation and net inflows across all distribution channels. This growth is particularly noteworthy given the challenging market conditions many asset managers have faced recently.

Key highlights include:

• Quarterly net inflows of $0.9 billion, indicating continued client confidence
• Strong performance in actively managed equity, with AUM rising to $271 billion
• Significant growth in alternatives/multi-asset solutions, reaching $167 billion

The balanced growth across equity, fixed income and alternative assets suggests AB's diversified strategy is working well. The increase in actively managed assets is particularly positive for future revenue potential, as these typically command higher fees than passive strategies. Overall, this report indicates AB is navigating the current market environment effectively and continuing to attract client assets.

NASHVILLE, Tenn., Oct. 9, 2024 /PRNewswire/ -- AllianceBernstein L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today announced that preliminary assets under management increased to $806 billion during September 2024 from $791 billion at the end of August. The 2% increase in month-end AUM was driven by market appreciation and net inflows into all three distribution channels - Retail, Institutions and Private Wealth. For the quarter-ended September 2024, preliminary firmwide net inflows totaled $0.9 billion.

AllianceBernstein L.P. (The Operating Partnership)
Assets Under Management ($ in Billions)
	At September 30, 2024																Aug 31,
																	2024
									Private
	Institutions				Retail				Wealth				Total				Total
Equity
Actively Managed	$	55			$	161			$	55			$	271			$	268
Passive	25				38				6				69				68
Total Equity	80				199				61				340				336
Fixed Income
Taxable	121				76				19				216				211
Tax-Exempt	2				40				29				71				70
Passive	1				11				—				12				11
Total Fixed Income	124				127				48				299				292
Alternatives/Multi-Asset Solutions(1)	132				8				27				167				163
Total	$	336			$	334				136				806				791
	At August 31, 2024
Total	$	329			$	328			$	134			$	791
(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 June 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. 

 

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SOURCE AllianceBernstein

FAQ

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

AllianceBernstein's (AB) assets under management (AUM) reached $806 billion as of September 30, 2024.

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

AB's assets under management increased by 2% in September 2024, from $791 billion at the end of August to $806 billion.

What were AB's net inflows for Q3 2024?

AllianceBernstein (AB) reported preliminary firmwide net inflows of $0.9 billion for the quarter ended September 2024.

How is AB's AUM distributed across different asset classes as of September 30, 2024?

As of September 30, 2024, AB's AUM was distributed as follows: Equity $340 billion, Fixed Income $299 billion, and Alternatives/Multi-Asset Solutions $167 billion.