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AllianceBernstein's (AB) July AUM Rises on Market Appreciation

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AllianceBernstein Holding L.P. (AB - Free Report) has announced assets under management (AUM) for July 2023. The company’s preliminary month-end AUM of $704 billion reflects a 1.7% rise from the end of June 2023.

The increase was driven by market appreciation, offset by firm-wide net outflows.

At the end of July, AllianceBernstein’s Equity AUM increased 2.7% on a sequential basis to $305 billion. Alternatives/Multi-Asset Solutions AUM (including certain multi-asset services and solutions) increased 3.1% to $131 billion. Fixed Income AUM of $268 billion was unchanged from the end of June 2023.

In terms of channel, July month-end institutions AUM of $314 billion increased 1.6% from the previous month. Retail AUM was $272 billion, which increased 1.9% from the prior month’s end. Private Wealth AUM of $118 billion rose 1.7% from the June 2023 level.

AllianceBernstein’s global reach and solid AUM balance are likely to keep boosting top-line growth. However, rising operating costs and a challenging operating backdrop are near-term concerns.

Over the past six months, shares of the company have lost 27.2% compared with the industry’s decline of 3.5%.

 

Zacks Investment Research
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Currently, AllianceBernstein carries a Zacks Rank #4 (Sell).

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

Performance of Asset Managers

Cohen & Steers (CNS - Free Report) reported preliminary AUM of $82.3 billion as of Jul 31, 2023, which reflected an increase of 2.4% from the prior-month level. Market appreciation of $1.86 billion and net inflows of $231 million supported the rise. However, it was partially offset by distributions of $162 million.

CNS recorded total institutional accounts of $34.43 billion at the end of July 2023, rising 3.5% from the June-end level. Of the total institutional accounts, advisory accounts were $19.53 billion, while the rest were sub-advisory.

Franklin Resources, Inc. (BEN - Free Report) reported preliminary AUM of $1.45 trillion for July 2023. This reflects a 1.4% increase from the $1,43 trillion recorded as of Jun 30, 2023.

The rise in BEN’s AUM balance was primarily due to the impacts of favorable markets, partially offset by long-term net outflows.


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