AllianceBernstein Holding L.P. (AB - Free Report) announced assets under management (AUM) for October 2020. The company’s preliminary month-end AUM of $622 billion decreased 1.4% from the prior month. Market depreciation and total firm wide net outflows primarily led to the decline.
At the end of October, AllianceBernstein’s Equity AUM fell 1.6% sequentially to $243 billion. Also, fixed Income AUM decreased 1.3% from September 2020 to $306 billion. Other AUM (including certain multi-asset services and solutions, and some alternative investments) was down 1.4% to $73 billion.
In terms of channel, month-end Institutions AUM of $284 billion was down 1.7% from September. Likewise, retail AUM decreased nearly 1% on a sequential basis to $243 billion and Private Wealth AUM declined 2% to $97 billion.
Though dismal markets performance hurt AUM, AllianceBernstein’s global reach and solid assets balance are expected to support top-line growth.
Shares of AllianceBernstein have rallied 49.8% over the past six months, outperforming the industry's growth of 32.9%.
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
Cohen & Steers (CNS - Free Report) reported preliminary assets under management (AUM) of $71.3 billion as of Oct 31, 2020, which increased 1% from the prior-month level. Net inflows of $2 billion were partially offset by market depreciation of $1.1 billion and distributions of $219 million.
Franklin Resources (BEN - Free Report) announced preliminary assets under management (AUM) by its subsidiaries of $1.39 trillion for October 2020. Results display a 2.1% decrease from the $1.42 trillion recorded as of Sep 30, 2020.
Invesco (IVZ - Free Report) announced assets under management (AUM) for October 2020. The company’s preliminary month-end AUM of $1,206.5 billion represents an 1% decrease from the prior month.
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AllianceBernstein Holding L.P. (AB - Free Report) announced assets under management (AUM) for October 2020. The company’s preliminary month-end AUM of $622 billion decreased 1.4% from the prior month. Market depreciation and total firm wide net outflows primarily led to the decline.
At the end of October, AllianceBernstein’s Equity AUM fell 1.6% sequentially to $243 billion. Also, fixed Income AUM decreased 1.3% from September 2020 to $306 billion. Other AUM (including certain multi-asset services and solutions, and some alternative investments) was down 1.4% to $73 billion.
In terms of channel, month-end Institutions AUM of $284 billion was down 1.7% from September. Likewise, retail AUM decreased nearly 1% on a sequential basis to $243 billion and Private Wealth AUM declined 2% to $97 billion.
Though dismal markets performance hurt AUM, AllianceBernstein’s global reach and solid assets balance are expected to support top-line growth.
Shares of AllianceBernstein have rallied 49.8% over the past six months, outperforming the industry's growth of 32.9%.
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
Cohen & Steers (CNS - Free Report) reported preliminary assets under management (AUM) of $71.3 billion as of Oct 31, 2020, which increased 1% from the prior-month level. Net inflows of $2 billion were partially offset by market depreciation of $1.1 billion and distributions of $219 million.
Franklin Resources (BEN - Free Report) announced preliminary assets under management (AUM) by its subsidiaries of $1.39 trillion for October 2020. Results display a 2.1% decrease from the $1.42 trillion recorded as of Sep 30, 2020.
Invesco (IVZ - Free Report) announced assets under management (AUM) for October 2020. The company’s preliminary month-end AUM of $1,206.5 billion represents an 1% decrease from the prior month.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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