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AllianceBernstein (AB) May AUM Up on Favorable Markets, Inflows

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AllianceBernstein Holding L.P. (AB - Free Report) has announced assets under management (AUM) for May 2024. The company’s preliminary month-end AUM of $757 billion reflects 2.9% growth from the end of April 2024.

The increase was primarily driven by market appreciation and net inflows in the Retail and Institutions channels. AB recorded net outflows in the Private Wealth channel.

At the end of May, AllianceBernstein’s Equity AUM grew 3.8% on a sequential basis to $324 billion. Alternatives/Multi-Asset Solutions AUM (including certain multi-asset services and solutions) was up 2.1% to $143 billion. Fixed Income AUM of $290 billion increased 2.1% from the end of April 2024.

In terms of channel, May month-end Institutions AUM of $320 billion increased 2.2% from the previous month. Retail AUM was $309 billion, up 3.7% from the prior month’s end. Private Wealth AUM of $128 billion rose 2.4% from the April 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.

Over the past six months, shares of AB have gained 5.4% compared with the industry's growth of 11.7%.

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Currently, AB carries a Zacks Rank #5 (Strong Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other Asset Managers

Cohen & Steers, Inc. (CNS - Free Report) reported a preliminary AUM of $80.5 billion as of May 31, 2024. This reflected growth of 4.3% from the prior month's level.

The increase in CNS’ AUM balance was mainly attributable to a market appreciation of $3.6 billion. This was partly offset by net outflows of $93 million and distributions of $150 million.

Invesco (IVZ - Free Report) has announced preliminary AUM for May 2024. The company’s month-end AUM of $1.68 trillion represented a 3.8% increase from the previous month.

IVZ delivered net long-term inflows of $5.2 billion in May. Non-management fee-earning net inflows were $5.7 billion and money market net inflows totaled $7.7 billion. Further, Invesco’s AUM was favorably impacted by solid market returns, which boosted its AUM by $42 billion. FX increased the AUM balance by $2.3 billion.

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