Back to top
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Invesco Ltd. (IVZ) - $25 value - yours FREE >>
AllianceBernstein Holding L.P. (AB) - $25 value - yours FREE >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Invesco Ltd. (IVZ) - $25 value - yours FREE >>
AllianceBernstein Holding L.P. (AB) - $25 value - yours FREE >>
Image: Bigstock
AllianceBernstein's July AUM Rises on Inflows & Market Gains
AllianceBernstein Holding L.P. (AB - Free Report) announced assets under management (AUM) for July 2020. The company’s preliminary month-end AUM of $623 billion increased 3.8% from the prior month. Market appreciation and total firm-wide net inflows primarily drove the rise.
The reported monthly AUM also reflects $2.2 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 6.2% sequentially to $241 billion. Also, fixed Income AUM increased 2.3% from June 2020 to $312 billion. Other AUM (including certain multi-asset services and solutions, and some alternative investments) was up 2.9% from the prior month to $70 billion.
In terms of channel, month-end Institutions AUM of $287 billion was up 4% from June 2020. Retail AUM increased 3.9% on a sequential basis to $239 billion and Private Wealth AUM grew 3.2% to $97 billion.
Continued improvement in AUM is expected to support AllianceBernstein’s top line. So far this year, shares of the company have lost 5.7% compared with the industry’s decline of 1.6%.
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 Companies
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $70.1 billion as of Jul 31, 2020, which increased 5.7% from the prior-month level. Market appreciation of $2.7 billion and net inflows of $1.3 billion were partially offset by distributions of $209 million.
Invesco’s (IVZ - Free Report) preliminary July-end AUM of $1,195.3 billion represents a 4.4% increase from the previous month. The rise was driven by favorable market returns, which boosted AUM by $38 billion. Moreover, FX increased AUM by $7.3 billion.
Waddell & Reed Financial is expected to report July-end AUM in the coming days.
Zacks Top 10 Stocks for 2020
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2020 today >>