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) July AUM Rises on Market Appreciation
Read MoreHide Full Article
AllianceBernstein Holding L.P. (AB - Free Report) has announced assets under management (AUM) for July 2024. The company’s preliminary month-end AUM of $777 billion reflects a roughly 1% increase from the end of June 2024.
The increase was primarily driven by market appreciation. This was partly offset by net outflows in the Institutions and Private Wealth channel. AB recorded net inflows in the Retail channel.
At the end of July, AllianceBernstein’s Equity AUM rose marginally on a sequential basis to $331 billion. Alternatives/Multi-Asset Solutions AUM (including certain multi-asset services and solutions) was up 10.3% to $161 billion. Fixed Income AUM of $285 billion declined 3.1% from the end of June 2024.
In terms of channel, July month-end Institutions AUM of $326 billion increased roughly 1% from the previous month. Retail AUM was $319 billion, up marginally from the prior month’s end. Private Wealth AUM of $132 billion increased 1.5% from the June 2024 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.
Year to date, shares of AB have gained 7.3% compared with the industry's growth of 8.3%.
Invesco (IVZ - Free Report) announced a preliminary AUM of $1,732 billion for July 2024, reflecting an almost 1% rise from the previous month-end.
Invesco’s AUM was positively impacted by favorable market returns, which increased AUM by $9 billion. Also, foreign exchange raised the AUM balance by $4.9 billion. Further, IVZ delivered net long-term inflows of $10.8 billion in the month. Non-management fee-earning net inflows were $3.2 billion. On the other hand, money market net outflows were $12.1 billion.
Cohen & Steers, Inc. (CNS - Free Report) reported a preliminary AUM of $84.6 billion as of Jul 31, 2024. This reflected a rise of 4.8% from the prior month's level.
CNS’ increase was driven by market appreciation of $41 billion, partially offset by net outflows of $45 million and distributions of $153 million.
See More Zacks Research for These Tickers
Pick one free report - opportunity may be withdrawn at any time
Image: Shutterstock
AllianceBernstein's (AB) July AUM Rises on Market Appreciation
AllianceBernstein Holding L.P. (AB - Free Report) has announced assets under management (AUM) for July 2024. The company’s preliminary month-end AUM of $777 billion reflects a roughly 1% increase from the end of June 2024.
The increase was primarily driven by market appreciation. This was partly offset by net outflows in the Institutions and Private Wealth channel. AB recorded net inflows in the Retail channel.
At the end of July, AllianceBernstein’s Equity AUM rose marginally on a sequential basis to $331 billion. Alternatives/Multi-Asset Solutions AUM (including certain multi-asset services and solutions) was up 10.3% to $161 billion. Fixed Income AUM of $285 billion declined 3.1% from the end of June 2024.
In terms of channel, July month-end Institutions AUM of $326 billion increased roughly 1% from the previous month. Retail AUM was $319 billion, up marginally from the prior month’s end. Private Wealth AUM of $132 billion increased 1.5% from the June 2024 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.
Year to date, shares of AB have gained 7.3% compared with the industry's growth of 8.3%.
Image Source: Zacks Investment Research
Currently, AB carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
Invesco (IVZ - Free Report) announced a preliminary AUM of $1,732 billion for July 2024, reflecting an almost 1% rise from the previous month-end.
Invesco’s AUM was positively impacted by favorable market returns, which increased AUM by $9 billion. Also, foreign exchange raised the AUM balance by $4.9 billion. Further, IVZ delivered net long-term inflows of $10.8 billion in the month. Non-management fee-earning net inflows were $3.2 billion. On the other hand, money market net outflows were $12.1 billion.
Cohen & Steers, Inc. (CNS - Free Report) reported a preliminary AUM of $84.6 billion as of Jul 31, 2024. This reflected a rise of 4.8% from the prior month's level.
CNS’ increase was driven by market appreciation of $41 billion, partially offset by net outflows of $45 million and distributions of $153 million.