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AllianceBernstein (AB) June AUM Up on Market Appreciation
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AllianceBernstein Holding L.P. (AB - Free Report) has announced assets under management (AUM) for June 2019. The company’s preliminary month-end AUM of $581 billion increased 3.8% from the prior month. Market appreciation and total net inflows were the primary reasons behind this rise.
At the end of the reported month, AllianceBernstein’s Equity AUM grew 6.3% sequentially to $219 billion. Further, Fixed Income AUM rose 2.1% from May 2019 to $295 billion. Others AUM (including certain multi-asset services and solutions, and certain alternative investments) increased 3.1% to $67 billion.
By channel, month-end Institutions AUM of $269 billion increased 3.1% from the May 2019 level. Moreover, Retail AUM increased 5.4% sequentially to $215 billion. Private Wealth AUM also rose 2.1% to $97 billion.
Improvement in AUM and higher revenues are expected to support AllianceBernstein’s financials. Over the past year, the stock has rallied 5.7% against the industry’s decline of 7.7%.
Franklin Resources (BEN - Free Report) announced preliminary AUM by its subsidiaries of $715.2 billion for June 2019. Results displayed a 2.9% increase from the $695 billion recorded as of May 31, 2019. Strong market gains, partly offset by modest net outflows, led to this upside. However, the figure edged down 1.2% year over year.
Invesco’s (IVZ - Free Report) preliminary month-end AUM of $1,197.8 billion for June 2019 increased 3.3% from the prior month. This growth was primarily driven by favorable market returns, foreign exchange, non-management fee earning AUM inflows and reinvested distributions, partly offset by net long-term outflows and lower money market AUM.
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $62.4 billion as of Jun 30, 2019, down nearly 1% from the prior-month level of $62.9 billion. Market appreciation of $1.3 billion was more than offset by net outflows of $215 million.
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AllianceBernstein (AB) June AUM Up on Market Appreciation
AllianceBernstein Holding L.P. (AB - Free Report) has announced assets under management (AUM) for June 2019. The company’s preliminary month-end AUM of $581 billion increased 3.8% from the prior month. Market appreciation and total net inflows were the primary reasons behind this rise.
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At the end of the reported month, AllianceBernstein’s Equity AUM grew 6.3% sequentially to $219 billion. Further, Fixed Income AUM rose 2.1% from May 2019 to $295 billion. Others AUM (including certain multi-asset services and solutions, and certain alternative investments) increased 3.1% to $67 billion.
By channel, month-end Institutions AUM of $269 billion increased 3.1% from the May 2019 level. Moreover, Retail AUM increased 5.4% sequentially to $215 billion. Private Wealth AUM also rose 2.1% to $97 billion.
Improvement in AUM and higher revenues are expected to support AllianceBernstein’s financials. Over the past year, the stock has rallied 5.7% against the industry’s decline of 7.7%.
AllianceBernstein currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
Franklin Resources (BEN - Free Report) announced preliminary AUM by its subsidiaries of $715.2 billion for June 2019. Results displayed a 2.9% increase from the $695 billion recorded as of May 31, 2019. Strong market gains, partly offset by modest net outflows, led to this upside. However, the figure edged down 1.2% year over year.
Invesco’s (IVZ - Free Report) preliminary month-end AUM of $1,197.8 billion for June 2019 increased 3.3% from the prior month. This growth was primarily driven by favorable market returns, foreign exchange, non-management fee earning AUM inflows and reinvested distributions, partly offset by net long-term outflows and lower money market AUM.
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $62.4 billion as of Jun 30, 2019, down nearly 1% from the prior-month level of $62.9 billion. Market appreciation of $1.3 billion was more than offset by net outflows of $215 million.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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