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AllianceBernstein's July AUM Rises on Inflows & Market Gains
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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%.
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.
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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 >>