NEW YORK, July 13, 2020 /PRNewswire/
-- AllianceBernstein L.P. ("AB") and AllianceBernstein Holding
L.P. ("AB Holding") (NYSE: AB) today announced that preliminary
assets under management increased to $600
billion during June 2020 from
$596 billion at the end of May. The
0.7% increase was due to market appreciation, partially offset by
firmwide net outflows. By channel, net outflows from Institutions
and Private Wealth exceeded Retail net inflows. Excluding
$7.1 billion in outflows from AXA
S.A.'s redemption of certain low-fee fixed income mandates, the
firm experienced net inflows in June. Year-to-date through June,
these redemptions amounted to approximately $8.9 billion of the total expected redemptions of
$14 billion.
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AllianceBernstein
L.P. (The Operating Partnership)
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Assets Under
Management ($ in Billions)
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At June 30,
2020
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At May
31
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|
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2020
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Private
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Institutions
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Retail
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Wealth
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Total
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Total
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Equity
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Actively
Managed
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$
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45
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$
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83
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$
|
44
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$
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172
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$
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169
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Passive
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24
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30
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1
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55
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53
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Total
Equity
|
69
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113
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|
45
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|
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227
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222
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Fixed
Income
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Taxable
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154
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80
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14
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248
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251
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Tax-Exempt
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1
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21
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25
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|
|
47
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46
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Passive
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—
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10
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—
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10
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10
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Total Fixed
Income
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155
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111
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39
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305
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307
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Other(1)
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52
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6
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|
10
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68
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67
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Total
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$
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276
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$
|
230
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$
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94
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$
|
600
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$
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596
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At May 31,
2020
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Total
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$
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280
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$
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223
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$
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93
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$
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596
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(1) Includes certain
multi-asset services and solutions and certain alternative
investments.
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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, integration of acquired companies,
competitive conditions, and government regulations, including
changes in tax regulations and rates and the manner in which the
earnings of publicly-traded partnerships are taxed. AB cautions
readers to carefully consider such factors. Further, such
forward-looking statements speak only as of the date on which such
statements are made; AB 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 AB's Form 10-K for the
year ended December 31, 2019 or Form
10-Q for the quarter ended March 31,
2020. Any or all of the forward-looking statements made in
this news release, Form 10-K, Form 10-Q, other documents AB files
with or furnishes to the SEC and any other public statements issued
by AB, 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 AB'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 wealth
clients in major world markets.
As of June 30, 2020, including
both the general partnership and limited partnership interests in
AllianceBernstein, AllianceBernstein Holding owned approximately
35.5% of AllianceBernstein and Equitable Holdings, Inc. ("EQH"),
directly and through various subsidiaries, owned an approximate
65.2% economic interest in AllianceBernstein.
Additional information about AB may be found on our website,
www.alliancebernstein.com.
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SOURCE AllianceBernstein