NEW YORK, Feb. 10, 2011 /PRNewswire/ -- AllianceBernstein
L.P. and AllianceBernstein Holding L.P. (NYSE: AB) today announced
that preliminary assets under management increased to $482 billion from $478
billion during January 2011.
The 0.8% increase was due to positive investment returns, offset by
modest net outflows.
Note that previously reported preliminary assets under
management for December 31, 2010,
have been adjusted by removing from our AUM an affiliated account
(representing approximately $8
billion of assets as of December 31,
2010, and which has traditionally been classified as "Other
AUM" within the Institutions channel) for which we serve in an
advisory capacity and do not have discretionary trading authority.
The large size of the account and the frequency of material monthly
inflows and outflows over the past year had the potential to
distort observable trends in our overall assets under management.
In addition, the fees associated with the account are quite low. We
will continue to provide services to this account but will not
reflect the assets in future measures of our assets under
management. Our originally released preliminary assets under
management as of December 31, 2010,
inclusive of this account, stood at $486
billion instead of $478
billion. Assets under management as of January 31, 2011, inclusive of this account,
would have been $490 billion, instead
of $482 billion.
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AllianceBernstein L.P. (The
Operating Partnership)
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ASSETS UNDER
MANAGEMENT ($ in billions)
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At Jan 31,
2011
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At Dec
31,
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Preliminary
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2010
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$ billions
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Institutions
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Retail
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Private
Client
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Total
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Total
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Equity
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Value
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$
89
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$
31
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$
25
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$
145
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$
144
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Growth
|
33
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23
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18
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|
74
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75
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|
122
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54
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43
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219
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219
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Fixed Income
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123
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50
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34
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207
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206
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Other(1)
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30
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24
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2
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56
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53
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Total
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$
275
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$
128
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$
79
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$
482
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$
478
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At Dec 31,
2010
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Total
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$
273
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$
127
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$
78
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$
478
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(1) Includes index, structured,
asset allocation services and certain other alternative
services
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Cautions Regarding Forward-Looking Statements
Certain statements provided by management in this news release
are "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements are subject to risks, uncertainties, and other factors
that could cause actual results to differ materially from future
results expressed or implied by such forward-looking statements.
The most significant of these factors include, but are not limited
to, the following: the performance of financial markets, the
investment performance of sponsored investment products and
separately-managed accounts, general economic conditions, industry
trends, future acquisitions, competitive conditions, and current
and proposed government regulations, including changes in tax
regulations and rates and the manner in which the earnings of
publicly-traded partnerships are taxed. AllianceBernstein cautions
readers to carefully consider such factors. Further, such
forward-looking statements speak only as of the date on which such
statements are made; AllianceBernstein undertakes no obligation to
update any forward-looking statements to reflect events or
circumstances after the date of such statements. For further
information regarding these forward-looking statements and the
factors that could cause actual results to differ, see "Risk
Factors" and "Cautions Regarding Forward-Looking Statements" in
AllianceBernstein's Form 10-K for the year ended December 31, 2010. Any or all of the
forward-looking statements made in this news release, Form 10-K,
other documents AllianceBernstein files with or furnishes to the
SEC, and any other public statements issued by AllianceBernstein,
may turn out to be wrong. It is important to remember that other
factors besides those listed in "Risk Factors" and "Cautions
Regarding Forward-Looking Statements", and those listed above,
could also adversely affect AllianceBernstein's financial
condition, results of operations and business prospects.
About AllianceBernstein
AllianceBernstein is a leading global investment management firm
that offers high-quality research and diversified investment
services to institutional investors, individuals and private
clients in major world markets.
At December 31, 2010,
AllianceBernstein Holding L.P. owned approximately 37.8% of the
issued and outstanding AllianceBernstein Units and AXA, one of the
largest global financial services organizations, owned an
approximate 61.4% economic interest in AllianceBernstein.
Additional information about AllianceBernstein may be found on
our internet site, www.alliancebernstein.com.
SOURCE AllianceBernstein