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AllianceBernstein's August AUM Up on Solid Markets & Inflows
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AllianceBernstein Holding L.P. (AB - Free Report) announced assets under management (AUM) for August 2020. The company’s preliminary month-end AUM of $643 billion increased 3.2% from the prior month. Market appreciation and total firm-wide net inflows primarily drove this rise.
The reported monthly AUM also reflects $2.6 billion in inflows to its low-fee retirement related Lifetime Income Strategies (LIS).
At the end of August, AllianceBernstein’s Equity AUM grew 5.8% sequentially to $255 billion. Also, fixed Income AUM increased marginally from July 2020 to $313 billion. Other AUM (including certain multi-asset services and solutions, and some alternative investments) was up 7.1% from the prior month to $75 billion.
In terms of channel, month-end Institutions AUM of $297 billion was up 3.5% from July. Retail AUM increased 3.3% on a sequential basis to $247 billion and Private Wealth AUM grew 2.1% to $99 billion.
Continued improvement in AUM is expected to support AllianceBernstein’s top line. In the past three months, shares of the company have gained 7.9% compared with the industry's rally of 2.7%.
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $72.1 billion as of Aug 31, up 2.8% from the prior-month level. Market appreciation of $1.2 billion and net inflows of $1 billion were partially offset by distributions of $211 million.
Virtus Investment Partners, Inc.’s (VRTS - Free Report) preliminary August-end AUM of $116.8 billion represents a 3.6% increase from the previous month.
T. Rowe Price Group, Inc. (TROW - Free Report) is expected to report August AUM in the coming days.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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AllianceBernstein's August AUM Up on Solid Markets & Inflows
AllianceBernstein Holding L.P. (AB - Free Report) announced assets under management (AUM) for August 2020. The company’s preliminary month-end AUM of $643 billion increased 3.2% from the prior month. Market appreciation and total firm-wide net inflows primarily drove this rise.
The reported monthly AUM also reflects $2.6 billion in inflows to its low-fee retirement related Lifetime Income Strategies (LIS).
At the end of August, AllianceBernstein’s Equity AUM grew 5.8% sequentially to $255 billion. Also, fixed Income AUM increased marginally from July 2020 to $313 billion. Other AUM (including certain multi-asset services and solutions, and some alternative investments) was up 7.1% from the prior month to $75 billion.
In terms of channel, month-end Institutions AUM of $297 billion was up 3.5% from July. Retail AUM increased 3.3% on a sequential basis to $247 billion and Private Wealth AUM grew 2.1% to $99 billion.
Continued improvement in AUM is expected to support AllianceBernstein’s top line. In the past three months, shares of the company have gained 7.9% compared with the industry's rally of 2.7%.
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 $72.1 billion as of Aug 31, up 2.8% from the prior-month level. Market appreciation of $1.2 billion and net inflows of $1 billion were partially offset by distributions of $211 million.
Virtus Investment Partners, Inc.’s (VRTS - Free Report) preliminary August-end AUM of $116.8 billion represents a 3.6% increase from the previous month.
T. Rowe Price Group, Inc. (TROW - Free Report) is expected to report August AUM in the coming days.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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