We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
AllianceBernstein's (AB) October AUM Down on Market Depreciation
Read MoreHide Full Article
AllianceBernstein Holding L.P. (AB - Free Report) has announced assets under management (AUM) for October 2023. The company’s preliminary month-end AUM of $652 billion reflects a 2.5% fall from the end of September 2023.
The decrease was mainly due to market depreciation and firm-wide net outflows.
At the end of October, AllianceBernstein’s Equity AUM decreased 3.5% on a sequential basis to $273 billion. Alternatives/Multi-Asset Solutions AUM (including certain multi-asset services and solutions) fell 1.6% to $124 billion. Fixed Income AUM of $255 billion was down 1.9% from the end of September 2023.
In terms of channel, October month-end institutions AUM of $288 billion declined 3% from the previous month. Retail AUM was $254 billion, down 1.9% from the prior month’s end. Private Wealth AUM of $110 billion decreased 2.7% from the September 2023 level.
AllianceBernstein’s global reach and solid AUM balance are likely to boost top-line growth. However, rising operating costs and a challenging operating backdrop are major near-term concerns.
Over the past three months, shares of AB have lost 9.9% compared with the industry’s fall of 4.7%.
Image Source: Zacks Investment Research
Currently, AllianceBernstein carries a Zacks Rank #4 (Sell).
Cohen & Steers, Inc. (CNS - Free Report) reported a preliminary AUM of $72.2 billion as of Oct 31, 2023, which reflects a decrease of 4% from the prior-month level. Market depreciation of $2.1 billion, net outflows of $732 million and distributions of $154 million led to the decline.
CNS recorded total institutional accounts of $29.8 billion at the end of October 2023, declining 4.6% from the September-end level. Of the total institutional accounts, advisory accounts were $17.3 billion, while the rest were sub-advisory.
Invesco (IVZ - Free Report) has announced a preliminary AUM for October 2023. The company’s month-end AUM of $1.45 trillion represented a 2.5% decrease from the previous month.
IVZ reported net long-term outflows of $0.1 billion in the reported month. Further, money market net outflows were $10.7 billion. Unfavorable market returns decreased the AUM by $27 billion and foreign exchange decreased the AUM by $0.7 billion. On the other hand, non-management fee-earning net inflows were $1.7 billion.
See More Zacks Research for These Tickers
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
AllianceBernstein's (AB) October AUM Down on Market Depreciation
AllianceBernstein Holding L.P. (AB - Free Report) has announced assets under management (AUM) for October 2023. The company’s preliminary month-end AUM of $652 billion reflects a 2.5% fall from the end of September 2023.
The decrease was mainly due to market depreciation and firm-wide net outflows.
At the end of October, AllianceBernstein’s Equity AUM decreased 3.5% on a sequential basis to $273 billion. Alternatives/Multi-Asset Solutions AUM (including certain multi-asset services and solutions) fell 1.6% to $124 billion. Fixed Income AUM of $255 billion was down 1.9% from the end of September 2023.
In terms of channel, October month-end institutions AUM of $288 billion declined 3% from the previous month. Retail AUM was $254 billion, down 1.9% from the prior month’s end. Private Wealth AUM of $110 billion decreased 2.7% from the September 2023 level.
AllianceBernstein’s global reach and solid AUM balance are likely to boost top-line growth. However, rising operating costs and a challenging operating backdrop are major near-term concerns.
Over the past three months, shares of AB have lost 9.9% compared with the industry’s fall of 4.7%.
Image Source: Zacks Investment Research
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, Inc. (CNS - Free Report) reported a preliminary AUM of $72.2 billion as of Oct 31, 2023, which reflects a decrease of 4% from the prior-month level. Market depreciation of $2.1 billion, net outflows of $732 million and distributions of $154 million led to the decline.
CNS recorded total institutional accounts of $29.8 billion at the end of October 2023, declining 4.6% from the September-end level. Of the total institutional accounts, advisory accounts were $17.3 billion, while the rest were sub-advisory.
Invesco (IVZ - Free Report) has announced a preliminary AUM for October 2023. The company’s month-end AUM of $1.45 trillion represented a 2.5% decrease from the previous month.
IVZ reported net long-term outflows of $0.1 billion in the reported month. Further, money market net outflows were $10.7 billion. Unfavorable market returns decreased the AUM by $27 billion and foreign exchange decreased the AUM by $0.7 billion. On the other hand, non-management fee-earning net inflows were $1.7 billion.