Shares of AllianceBernstein Holding L.P. (AB - Free Report) rallied 2.5% in response to a solid improvement in assets under management (AUM) balance for November 2023. The company’s preliminary month-end AUM of $696 billion reflected a 6.7% increase from the end of October 2023.
The jump in AB’s November AUM balance was mainly driven by market appreciation and firm-wide net inflows.
At the end of November, AllianceBernstein’s Equity AUM jumped 8.2% on a sequential basis to $296 billion. Alternatives/Multi-Asset Solutions AUM (including certain multi-asset services and solutions) grew 4.8% to $130 billion. Likewise, Fixed Income AUM of $270 billion was up 2.9% from the end of October 2023.
In terms of channel, November month-end Institutions AUM of $305 billion increased 6.3% from the previous month. Retail AUM was $274 billion, which climbed 7.9% from the prior month’s end. Private Wealth AUM of $117 billion rose 5.7% from the October 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 3.9% against the industry’s rally of 5.3%.
Currently, AllianceBernstein carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
Invesco (IVZ - Free Report) has announced preliminary AUM for November 2023. The company’s month-end AUM of $1.54 trillion represented a 6.3% jump from the previous month.
Invesco reported net long-term inflows of $1.7 billion in the month. Additionally, money market net inflows were $5.8 billion and non-management fee-earning net inflows were $2.7 billion. Invesco’s November AUM was positively impacted by market returns, which increased the AUM balance by $75 billion. Further, foreign exchange resulted in a rise in AUM by $6.7 billion.
Franklin Resources, Inc. (BEN - Free Report) reported a preliminary AUM balance of $1.41 trillion for November 2023. This reflects a 6% increase from $1.33 trillion recorded as of Oct 31, 2023.
The rise in BEN’s AUM balance was primarily driven by the impacts of positive markets and relatively stable long-term net outflows.
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Shares of AllianceBernstein Holding L.P. (AB - Free Report) rallied 2.5% in response to a solid improvement in assets under management (AUM) balance for November 2023. The company’s preliminary month-end AUM of $696 billion reflected a 6.7% increase from the end of October 2023.
The jump in AB’s November AUM balance was mainly driven by market appreciation and firm-wide net inflows.
At the end of November, AllianceBernstein’s Equity AUM jumped 8.2% on a sequential basis to $296 billion. Alternatives/Multi-Asset Solutions AUM (including certain multi-asset services and solutions) grew 4.8% to $130 billion. Likewise, Fixed Income AUM of $270 billion was up 2.9% from the end of October 2023.
In terms of channel, November month-end Institutions AUM of $305 billion increased 6.3% from the previous month. Retail AUM was $274 billion, which climbed 7.9% from the prior month’s end. Private Wealth AUM of $117 billion rose 5.7% from the October 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 3.9% against the industry’s rally of 5.3%.
Currently, AllianceBernstein carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
Invesco (IVZ - Free Report) has announced preliminary AUM for November 2023. The company’s month-end AUM of $1.54 trillion represented a 6.3% jump from the previous month.
Invesco reported net long-term inflows of $1.7 billion in the month. Additionally, money market net inflows were $5.8 billion and non-management fee-earning net inflows were $2.7 billion. Invesco’s November AUM was positively impacted by market returns, which increased the AUM balance by $75 billion. Further, foreign exchange resulted in a rise in AUM by $6.7 billion.
Franklin Resources, Inc. (BEN - Free Report) reported a preliminary AUM balance of $1.41 trillion for November 2023. This reflects a 6% increase from $1.33 trillion recorded as of Oct 31, 2023.
The rise in BEN’s AUM balance was primarily driven by the impacts of positive markets and relatively stable long-term net outflows.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
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