AllianceBernstein Holding L.P. (AB - Free Report) announced assets under management (AUM) for April 2020. The company’s preliminary month-end AUM of $576 billion increased 6.3% from the prior month. Total net inflows and favorable markets were primarily responsible for this rise.
The reported monthly AUM also reflects $0.3 billion in outflows from AXA S.A.'s redemption of certain low-fee fixed income mandates.
At the end of the reported month, AllianceBernstein’s Equity AUM grew 11.6% sequentially to $211 billion. Fixed Income AUM also increased 2.7% from March 2020 to $300 billion. Others AUM (including certain multi-asset services and solutions, and some alternative investments) was up 6.6% from the prior month to $65 billion.
In terms of channel, month-end Institutions AUM of $273 billion was up 6.2% from March 2020. Retail AUM increased 6.5% on a sequential basis to $212 billion and Private Wealth AUM grew 5.8% to $91 billion.
Improvement in AUM and higher revenues are expected to support AllianceBernstein’s financials. So far this year, the stock has lost 26.6% compared with the industry’s decline of 15.1%.
AllianceBernstein currently 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
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $62.1 billion on Apr 30, 2020, increasing 8.3% from the prior-month level. Market appreciation of $4.2 billion and net inflows of $744 million were partially offset by distributions of $198 million.
Franklin Resources (BEN - Free Report) reported a rise in preliminary month-end AUM balance. The company’s AUM balance as of Apr 30, 2020 increased 3.3% sequentially to $599.4 billion. The rise was largely driven by strong market performance and increase in net outflows.
Invesco’s (IVZ - Free Report) preliminary month-end AUM of $1,118.6 billion for April 2020 represents a 6.2% increase from the previous month. The rise was primarily driven by foreign exchange and favorable market returns.
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AllianceBernstein Holding L.P. (AB - Free Report) announced assets under management (AUM) for April 2020. The company’s preliminary month-end AUM of $576 billion increased 6.3% from the prior month. Total net inflows and favorable markets were primarily responsible for this rise.
The reported monthly AUM also reflects $0.3 billion in outflows from AXA S.A.'s redemption of certain low-fee fixed income mandates.
At the end of the reported month, AllianceBernstein’s Equity AUM grew 11.6% sequentially to $211 billion. Fixed Income AUM also increased 2.7% from March 2020 to $300 billion. Others AUM (including certain multi-asset services and solutions, and some alternative investments) was up 6.6% from the prior month to $65 billion.
In terms of channel, month-end Institutions AUM of $273 billion was up 6.2% from March 2020. Retail AUM increased 6.5% on a sequential basis to $212 billion and Private Wealth AUM grew 5.8% to $91 billion.
Improvement in AUM and higher revenues are expected to support AllianceBernstein’s financials. So far this year, the stock has lost 26.6% compared with the industry’s decline of 15.1%.
AllianceBernstein currently 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
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $62.1 billion on Apr 30, 2020, increasing 8.3% from the prior-month level. Market appreciation of $4.2 billion and net inflows of $744 million were partially offset by distributions of $198 million.
Franklin Resources (BEN - Free Report) reported a rise in preliminary month-end AUM balance. The company’s AUM balance as of Apr 30, 2020 increased 3.3% sequentially to $599.4 billion. The rise was largely driven by strong market performance and increase in net outflows.
Invesco’s (IVZ - Free Report) preliminary month-end AUM of $1,118.6 billion for April 2020 represents a 6.2% increase from the previous month. The rise was primarily driven by foreign exchange and favorable market returns.
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 +24.1% 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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