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AllianceBernstein October AUM Up on Inflows & Market Gains
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AllianceBernstein Holding L.P. (AB - Free Report) has announced assets under management (AUM) for October 2019. The company’s preliminary month-end AUM of $601 billion increased 1.5% from the prior month. Total net inflows and favorable markets were the primary reasons for this rise.
At the end of the reported month, AllianceBernstein’s Equity AUM grew 2.8% sequentially to $223 billion. Fixed Income AUM increased marginally from September 2019 to $309 billion. Others AUM (including certain multi-asset services and solutions, and certain alternative investments) was up 3% to $69 billion.
By channel, month-end Institutions AUM of $275 billion was up 1.1% from September 2019. Retail AUM increased 2.2% on a sequential basis to $223 billion while Private Wealth AUM rose 1% to $97 billion.
Improvement in AUM and higher revenues are expected to support AllianceBernstein’s financials. Over the past year, the stock has lost 1.4% against the industry’s rally of 9.9%.
AllianceBernstein currently carries a Zacks Rank #4 (Sell).
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $72 billion as of Oct 31, 2019, up 1.6% from the prior-month level. Market appreciation of $967 million and net inflows of $333 million were partly offset by distributions of $186 million.
Franklin Resources (BEN - Free Report) announced preliminary AUM of $693.1 billion for October 2019. Results displayed a slight rise from $692.6 billion recorded as of Sep 30, 2019. Net market gains led to the improvement, partially offset by net outflows.
Invesco’s (IVZ - Free Report) preliminary month-end AUM of $1,195.2 billion for October 2019 increased nearly 1% from the prior month. The rise was primarily driven by foreign exchange, reinvested distributions and favorable market returns.
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AllianceBernstein October AUM Up on Inflows & Market Gains
AllianceBernstein Holding L.P. (AB - Free Report) has announced assets under management (AUM) for October 2019. The company’s preliminary month-end AUM of $601 billion increased 1.5% from the prior month. Total net inflows and favorable markets were the primary reasons for this rise.
At the end of the reported month, AllianceBernstein’s Equity AUM grew 2.8% sequentially to $223 billion. Fixed Income AUM increased marginally from September 2019 to $309 billion. Others AUM (including certain multi-asset services and solutions, and certain alternative investments) was up 3% to $69 billion.
By channel, month-end Institutions AUM of $275 billion was up 1.1% from September 2019. Retail AUM increased 2.2% on a sequential basis to $223 billion while Private Wealth AUM rose 1% to $97 billion.
Improvement in AUM and higher revenues are expected to support AllianceBernstein’s financials. Over the past year, the stock has lost 1.4% against the industry’s rally of 9.9%.
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 $72 billion as of Oct 31, 2019, up 1.6% from the prior-month level. Market appreciation of $967 million and net inflows of $333 million were partly offset by distributions of $186 million.
Franklin Resources (BEN - Free Report) announced preliminary AUM of $693.1 billion for October 2019. Results displayed a slight rise from $692.6 billion recorded as of Sep 30, 2019. Net market gains led to the improvement, partially offset by net outflows.
Invesco’s (IVZ - Free Report) preliminary month-end AUM of $1,195.2 billion for October 2019 increased nearly 1% from the prior month. The rise was primarily driven by foreign exchange, reinvested distributions and favorable market returns.
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The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
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