NEW YORK, Sept. 13 /PRNewswire-FirstCall/ --
AllianceBernstein L.P. and AllianceBernstein Holding L.P. (NYSE:
AB) announced that preliminary assets under management fell to
$467 billion from $482 billion during August
2010. The 3.1% decline was due to negative equity investment
returns and net asset outflows, mainly from institutional accounts.
Half of the institutional outflows were from a non-actively managed
account which generates substantially lower fees than other such
accounts.
AllianceBernstein L.P. (The
Operating Partnership)
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ASSETS UNDER
MANAGEMENT
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At August 31,
2010
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At July 31,
2010
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Preliminary
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$ 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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$
22
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$
142
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|
$
150
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Growth
|
39
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|
21
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|
15
|
|
75
|
|
79
|
|
|
128
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|
52
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|
37
|
|
217
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|
229
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|
|
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|
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|
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|
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Fixed Income
|
122
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|
48
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|
35
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|
205
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204
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Other(1)
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25
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19
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1
|
|
45
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|
49
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Total
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$
275
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$
119
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$
73
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$
467
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$
482
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At July 31, 2010
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Total
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$
286
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$
122
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$
74
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$
482
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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 June 30, 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 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 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 June 30, 2010,
AllianceBernstein Holding L.P. owned approximately 36.7% of the
issued and outstanding AllianceBernstein Units and AXA, one of the
largest global financial services organizations, owned an
approximate 62.5% economic interest in AllianceBernstein.
SOURCE AllianceBernstein L.P.
Copyright . 13 PR Newswire