NEW YORK, May 12 /PRNewswire-FirstCall/ --
AllianceBernstein Holding L.P. (NYSE: AB) and AllianceBernstein
L.P. today reported that during the month of April, preliminary
assets under management were unchanged at $501 billion at April 30,
2010, as positive investment performance was offset by
modest net outflows, primarily in the Institutions channel.
The firm also announced that it will convene a special meeting
of Unitholders to seek approval of its 2010 Long Term Incentive
Plan on June 30, 2010 at its
corporate headquarters in New York
City. AllianceBernstein Holding Unitholders of record
as of May 17, 2010 will be eligible
to vote on the plan in person or by proxy. The company anticipates
filing a proxy statement on or about May 20,
2010.
AllianceBernstein
L.P. (The Operating Partnership)
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ASSETS UNDER
MANAGEMENT
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At April 30,
2010
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At Mar. 31,
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Preliminary
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2010
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$ 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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$
104
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$ 36
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|
$
26
|
|
$166
|
|
$
169
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|
Growth
|
47
|
|
24
|
|
17
|
|
88
|
|
91
|
|
|
151
|
|
60
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|
43
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|
254
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|
260
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|
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Fixed Income
|
117
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47
|
|
33
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|
197
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192
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Other(1)
|
29
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21
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-
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|
50
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|
49
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Total
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$
297
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|
$128
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|
$
76
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$501
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$
501
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At March 31,
2010
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|
|
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Total
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$
297
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|
$128
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$
76
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$501
|
|
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|
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(1) Includes index, structured, asset
allocation services and other non-actively managed AUM.
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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, 2009 and Form 10-Q for the quarter
ended March 31, 2010. Any or all of
the forward-looking statements made in this news release, Form
10-K, Form 10-Q, 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 below, 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 clients, individuals and private clients
in major markets around the world. AllianceBernstein employs more
than 500 investment professionals with expertise in growth
equities, value equities, fixed income securities, blend strategies
and alternative investments and, through its subsidiaries and joint
ventures, operates in more than 20 countries. AllianceBernstein's
research disciplines include fundamental research, quantitative
research, economic research and currency forecasting capabilities.
Through its integrated global platform, AllianceBernstein is
well-positioned to tailor investment solutions for its clients.
AllianceBernstein also offers high-quality, in-depth research,
portfolio strategy and brokerage-related services to institutional
investors, and equity capital markets services to issuers of
publicly-traded securities.
At March 31, 2010,
AllianceBernstein Holding L.P. owned approximately 36.6% of the
issued and outstanding AllianceBernstein Units and AXA, one of the
largest global financial services organizations, owned an
approximate 62.3% economic interest in AllianceBernstein.
SOURCE AllianceBernstein L.P.