AllianceBernstein Holding, L.P. - AB STOCK NEWS

AllianceBernstein highlights the critical role of Chinese firms in the global transition to a greener future, noting a missed opportunity for investors as many environmental funds lack exposure to China. Research indicates that five of the ten largest global environmental equity funds had no holdings in China by 2022. Chinese companies dominate vital sectors for decarbonization, including solar energy, wind power, and electric vehicles (EVs), accounting for significant shares in global supply chains. The report underscores the potential for attractive returns from investing in about 400 Chinese stocks aligned with net-zero goals despite macroeconomic challenges.

Modern slavery poses a significant risk for investors in the mining industry, largely due to its reliance on vulnerable populations and high-risk geographies. Recent legislation in the US and EU aims to improve corporate reporting and accountability regarding human rights and labor practices. The EU's Corporate Sustainability Reporting Directive and other proposed regulations increase scrutiny on companies involved in forced labor. The mining sector is particularly challenged due to its economic importance to emerging nations, where unsafe working conditions prevail. Investors are encouraged to develop frameworks to assess and mitigate these risks effectively.

AllianceBernstein L.P. (AB) reported a decrease in preliminary assets under management (AUM) to $665 billion as of February 28, 2023, down from $680 billion at the end of January. This 2% decline was driven by market depreciation that offset firmwide net inflows. The inflows into Retail and Private Wealth were partially counterbalanced by modest outflows in the Institutional segment. The report highlights market conditions affecting AUM and emphasizes the ongoing challenges the company faces.

AllianceBernstein announced that Erin Bigley, the Chief Responsibility Officer, is recognized in the Dress for Success Worldwide campaign for promoting sustainable female leadership. Bigley emphasizes the importance of mentorship and advocacy in the workplace. Her role focuses on integrating environmental, social, and governance (ESG) factors into investment strategies. AllianceBernstein holds $646 billion in assets under management, with $445 billion ESG-integrated. Their mission is to help clients achieve investment goals while maintaining responsible practices. The firm has been a PRI signatory since 2011, reinforcing its commitment to responsible investing.

Bernstein Private Wealth Management, a unit of AllianceBernstein (NYSE: AB), announced the opening of a new office in Stamford, Connecticut, aimed at enhancing its local presence. This new waterfront office will deepen ties with clients in Connecticut and Westchester County, as highlighted by Rick Meyers, Head of Client and Advisory. The office will be managed by Jim Murphy, who brings over 20 years of investment experience. Connecticut Governor Ned Lamont welcomed this expansion, citing the state's strong workforce and position in the financial services sector. Bernstein manages $680 billion in assets as of January 31, 2023.

AllianceBernstein L.P. (AB) reported a significant increase in its assets under management (AUM) to $680 billion as of January 31, 2023, up from $646 billion at the end of December 2022. This 5% growth was primarily driven by market appreciation and positive net inflows, particularly in the Retail and Private Wealth segments. However, this was partially offset by net outflows in the Institutional sector. Overall, the firm's strong financial standing indicates a positive trajectory in the investment management landscape.

AllianceBernstein L.P. (AB) reported Q4 and full year 2022 financial results, with GAAP diluted net income per unit at $0.59 and adjusted diluted net income per unit at $0.70. Cash distribution per unit is set at $0.70, payable on March 16, 2023. The company faced significant challenges, with net revenues decreasing 21.7% in Q4 and 8.7% for the year, largely due to declines in performance-based fees and increased investment losses. Average AUM dropped 6%, and adjusted operating income fell 22%, reflecting a tough market environment. Despite these challenges, the firm reported net inflows in the institutional channel for four consecutive years, highlighting ongoing growth in Private Alternatives.

AB emphasizes the urgency of addressing modern slavery in its operations and supply chains, especially as National Slavery and Human Trafficking Prevention Month concludes. The firm has engaged over 19 companies through more than 120 meetings to raise awareness and promote action. Their findings indicate that companies with high-risk exposure understand these risks better, while those with less exposure tend to overlook them. The financial sector's role involves enhancing transparency and collaboration with NGOs. Notably, there are real-world consequences for companies linked to modern slavery, impacting their operational stability and investor confidence.

AllianceBernstein (NYSE: AB) will release its Fourth Quarter 2022 financial results on February 8, 2023, after market close. A teleconference hosted by key executives, including President Seth Bernstein, will take place on February 9, 2023, at 8:30 AM CT to discuss the results. Investors can access the call via webcast or telephone, with the conference ID# 6072615. A replay will be available shortly after the call. As of December 31, 2022, AllianceBernstein Holding owned approximately 39.4% of AllianceBernstein, while Equitable Holdings, Inc. held about 61.3% economic interest.