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At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +24.20% per year. These returns cover a period from January 1, 1988 through April 1, 2024. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. The monthly returns are then compounded to arrive at the annual return. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. Zacks may license the Zacks Mutual Fund rating provided herein to third parties, including but not limited to the issuer.
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AllianceBernstein April AUM Rises on Inflows & Market Gains
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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