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Franklin Resources, Inc. (BEN) - free report >>
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AllianceBernstein (AB) February AUM Down on Unfavorable Markets
AllianceBernstein Holding L.P. (AB - Free Report) announced assets under management (“AUM”) for February 2022. The company’s preliminary month-end AUM of $739 billion declined 1.6% from the end of the prior month. Market depreciation more than offset total firm-wide net inflows, resulting in the fall.
Shares of the company have declined 1.2% since the announcement of the news.
At the end of February, AllianceBernstein’s Equity AUM declined 2.7% sequentially to $326 billion. Alternatives/Multi-Asset Solutions AUM (including certain multi-asset services and solutions) was down almost 1% to $109 billion. Further, Fixed Income AUM was $304 billion, which witnessed nearly 1% fall from the end of January 2022.
In terms of channel, month-end Institutions AUM of $330 billion was down roughly 1% from the previous month. Retail AUM was $293 billion, which declined 2.3% from the prior-month end, while Private Wealth AUM fell 1.7% to $116 billion.
AllianceBernstein’s global reach and solid AUM balance are likely to keep boosting top-line growth. Yet, unfavorable market performance remains a drag.
Over the past year, shares of the company have rallied 14.9% against a 15.2% decline of the industry.
Image Source: Zacks Investment Research
Currently, AllianceBernstein carries a Zacks Rank #4 (Sell).
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
Franklin Resources, Inc. (BEN - Free Report) announced its preliminary AUM for February 2022. BEN's month-end AUM of $1,486.9 billion reflected a 2.3% decline from the previous month.
Franklin's AUM was affected by the negative impacts of the markets and long-term net outflows.
Invesco (IVZ - Free Report) announced its preliminary AUM for February 2022. IVZ’s month-end AUM of $1,531.4 billion marked a 1.3% fall from the prior month-end.
Invesco recorded net long-term inflows of $3.4 billion and money market net inflows of $3.6 billion. Further, foreign exchange rate movements increased the AUM balance by $1.5 billion. For the month, unfavorable market returns negatively impacted the company’s AUM, which decreased it by $28 billion.