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AllianceBernstein's October AUM Declines on Unfavorable Market
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AllianceBernstein Holding L.P. (AB - Free Report) has announced assets under management (AUM) for October 2024. The company’s preliminary month-end AUM of $806 billion reflects a 2% decrease from the end of September 2024.
The fall was primarily due to market depreciation. In October, firmwide net flows were stable.
At the end of October, AllianceBernstein’s Equity AUM declined 2.1% sequentially to $333 billion. Alternatives/Multi-Asset Solutions AUM (including certain multi-asset services and solutions) was down 2.4% to $163 billion. Fixed Income AUM of $292 billion fell marginally from the end of September.
In terms of channel, October month-end Institutions AUM of $327 billion decreased 2.4% from the previous month. Retail AUM was $330 billion, down 1.5% from September end. Private Wealth AUM was stable at $136 billion.
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 near-term concerns. In the past six months, shares of AB have gained 4.7% compared with the industry's rise of 25%.
Invesco’s (IVZ - Free Report) has announced preliminary AUM for October 2024. The company’s month-end AUM of $1.77 trillion represented a 1.3% decline from the previous month.
IVZ reported net long-term inflows of $2 billion for October. Non-management fee-earning net outflows were $0.2 billion, and money market net outflows totaled $1.8 billion. Further, Invesco’s AUM was unfavorably impacted by weak market returns, which lowered its AUM by $13 billion. Also, FX hurt the AUM balance by $10.5 billion.
Lazard, Inc. (LAZ - Free Report) reported a preliminary AUM balance of $235.8 billion for October 2024. This reflected a 4.8% decrease from $247.7 billion as of Sept. 30, 2024.
The fall in LAZ’s AUM balance was due to a market depreciation of $4.4 billion, net outflows of $3.3 billion and foreign exchange depreciation of $4.2 billion.
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AllianceBernstein's October AUM Declines on Unfavorable Market
AllianceBernstein Holding L.P. (AB - Free Report) has announced assets under management (AUM) for October 2024. The company’s preliminary month-end AUM of $806 billion reflects a 2% decrease from the end of September 2024.
The fall was primarily due to market depreciation. In October, firmwide net flows were stable.
At the end of October, AllianceBernstein’s Equity AUM declined 2.1% sequentially to $333 billion. Alternatives/Multi-Asset Solutions AUM (including certain multi-asset services and solutions) was down 2.4% to $163 billion. Fixed Income AUM of $292 billion fell marginally from the end of September.
In terms of channel, October month-end Institutions AUM of $327 billion decreased 2.4% from the previous month. Retail AUM was $330 billion, down 1.5% from September end. Private Wealth AUM was stable at $136 billion.
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 near-term concerns. In the past six months, shares of AB have gained 4.7% compared with the industry's rise of 25%.
Image Source: Zacks Investment Research
Currently, AB carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of AB’s Peers
Invesco’s (IVZ - Free Report) has announced preliminary AUM for October 2024. The company’s month-end AUM of $1.77 trillion represented a 1.3% decline from the previous month.
IVZ reported net long-term inflows of $2 billion for October. Non-management fee-earning net outflows were $0.2 billion, and money market net outflows totaled $1.8 billion. Further, Invesco’s AUM was unfavorably impacted by weak market returns, which lowered its AUM by $13 billion. Also, FX hurt the AUM balance by $10.5 billion.
Lazard, Inc. (LAZ - Free Report) reported a preliminary AUM balance of $235.8 billion for October 2024. This reflected a 4.8% decrease from $247.7 billion as of Sept. 30, 2024.
The fall in LAZ’s AUM balance was due to a market depreciation of $4.4 billion, net outflows of $3.3 billion and foreign exchange depreciation of $4.2 billion.