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Invesco Ltd. (IVZ) - $25 value - yours FREE >>
AllianceBernstein Holding L.P. (AB) - $25 value - yours FREE >>
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AllianceBernstein's (AB) March AUM Up on Market Appreciation
AllianceBernstein Holding L.P. (AB - Free Report) has announced assets under management (AUM) for March 2024. The company’s preliminary month-end AUM of $759 billion reflects a 5% rise from the end of February 2024.
The increase was mainly driven by market appreciation, partly offset by net outflows. The company noted that excluding a $3 billion low-fee passive institutional redemption, net flows were positive for March and in each channel.
At the end of March, AllianceBernstein’s Equity AUM increased 1.5% on a sequential basis to $329 billion. Alternatives/Multi-Asset Solutions AUM (including certain multi-asset services and solutions) rose 2.9% to $143 billion. Fixed Income AUM of $287 billion increased 1.4% from the end of February 2024.
In terms of channel, March month-end institutions AUM of $323 billion increased 1.6% from the previous month. Retail AUM was $308 billion, up 2% from the prior month’s end. Private Wealth AUM of $128 billion increased 2.4% from the February 2024 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.
Performance of Other Asset Managers
Cohen & Steers, Inc. (CNS - Free Report) reported a preliminary AUM of $81.2 billion as of Mar 31, 2024. This reflected an 1.6% rise from the prior month's level.
The increase in CNS’ AUM was due to market appreciation of $1.7 billion and net inflows of $183 million. These were partly offset by distributions of $298 million.
Invesco (IVZ - Free Report) announced a preliminary AUM of $1,662.7 billion for March 2024, reflecting a 2% rise from the previous month-end.
IVZ delivered net long-term inflows of $2.8 billion in the month. Non-management fee-earning net inflows were $1.8 billion, while money market net outflows were $1.5 billion. IVZ’s AUM was positively impacted by favorable market returns, which increased AUM by $29 billion. However, FX decreased AUM by $1.1 billion.