AllianceBernstein Holding L.P. (AB - Free Report) has announced assets under management (AUM) for October 2023. The company’s preliminary month-end AUM of $652 billion reflects a 2.5% fall from the end of September 2023.
The decrease was mainly due to market depreciation and firm-wide net outflows.
At the end of October, AllianceBernstein’s Equity AUM decreased 3.5% on a sequential basis to $273 billion. Alternatives/Multi-Asset Solutions AUM (including certain multi-asset services and solutions) fell 1.6% to $124 billion. Fixed Income AUM of $255 billion was down 1.9% from the end of September 2023.
In terms of channel, October month-end institutions AUM of $288 billion declined 3% from the previous month. Retail AUM was $254 billion, down 1.9% from the prior month’s end. Private Wealth AUM of $110 billion decreased 2.7% from the September 2023 level.
AllianceBernstein’s global reach and solid AUM balance are likely to boost top-line growth. However, rising operating costs and a challenging operating backdrop are major near-term concerns.
Over the past three months, shares of AB have lost 9.9% compared with the industry’s fall of 4.7%.
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 Asset Managers
Cohen & Steers, Inc. (CNS - Free Report) reported a preliminary AUM of $72.2 billion as of Oct 31, 2023, which reflects a decrease of 4% from the prior-month level. Market depreciation of $2.1 billion, net outflows of $732 million and distributions of $154 million led to the decline.
CNS recorded total institutional accounts of $29.8 billion at the end of October 2023, declining 4.6% from the September-end level. Of the total institutional accounts, advisory accounts were $17.3 billion, while the rest were sub-advisory.
Invesco (IVZ - Free Report) has announced a preliminary AUM for October 2023. The company’s month-end AUM of $1.45 trillion represented a 2.5% decrease from the previous month.
IVZ reported net long-term outflows of $0.1 billion in the reported month. Further, money market net outflows were $10.7 billion. Unfavorable market returns decreased the AUM by $27 billion and foreign exchange decreased the AUM by $0.7 billion. On the other hand, non-management fee-earning net inflows were $1.7 billion.
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AllianceBernstein Holding L.P. (AB - Free Report) has announced assets under management (AUM) for October 2023. The company’s preliminary month-end AUM of $652 billion reflects a 2.5% fall from the end of September 2023.
The decrease was mainly due to market depreciation and firm-wide net outflows.
At the end of October, AllianceBernstein’s Equity AUM decreased 3.5% on a sequential basis to $273 billion. Alternatives/Multi-Asset Solutions AUM (including certain multi-asset services and solutions) fell 1.6% to $124 billion. Fixed Income AUM of $255 billion was down 1.9% from the end of September 2023.
In terms of channel, October month-end institutions AUM of $288 billion declined 3% from the previous month. Retail AUM was $254 billion, down 1.9% from the prior month’s end. Private Wealth AUM of $110 billion decreased 2.7% from the September 2023 level.
AllianceBernstein’s global reach and solid AUM balance are likely to boost top-line growth. However, rising operating costs and a challenging operating backdrop are major near-term concerns.
Over the past three months, shares of AB have lost 9.9% compared with the industry’s fall of 4.7%.
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 Asset Managers
Cohen & Steers, Inc. (CNS - Free Report) reported a preliminary AUM of $72.2 billion as of Oct 31, 2023, which reflects a decrease of 4% from the prior-month level. Market depreciation of $2.1 billion, net outflows of $732 million and distributions of $154 million led to the decline.
CNS recorded total institutional accounts of $29.8 billion at the end of October 2023, declining 4.6% from the September-end level. Of the total institutional accounts, advisory accounts were $17.3 billion, while the rest were sub-advisory.
Invesco (IVZ - Free Report) has announced a preliminary AUM for October 2023. The company’s month-end AUM of $1.45 trillion represented a 2.5% decrease from the previous month.
IVZ reported net long-term outflows of $0.1 billion in the reported month. Further, money market net outflows were $10.7 billion. Unfavorable market returns decreased the AUM by $27 billion and foreign exchange decreased the AUM by $0.7 billion. On the other hand, non-management fee-earning net inflows were $1.7 billion.
Research Chief 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.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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