Published on 12 Mar 2024 on Zacks via Yahoo Finance
AllianceBernstein's (AB) February AUM Up on Market Appreciation
AllianceBernstein Holding L.P. AB announced assets under management (AUM) for February 2024. The company’s preliminary month-end AUM of $745 billion reflects a 2.6% rise from the end of January 2024.The increase was mainly driven by market appreciation and positive net flows across all channels.At the end of February, AllianceBernstein’s Equity AUM increased 4.9% on a sequential basis to $324 billion. Alternatives/Multi-Asset Solutions AUM (including certain multi-asset services and solutions) rose 1.5% to $138 billion. Fixed Income AUM of $283 billion increased marginally from the end of January 2024.In terms of channel, February month-end institutions AUM of $318 billion increased 1.6% from the previous month. Retail AUM was $302 billion, up 3.8% from the prior month’s end. Private Wealth AUM of $125 billion increased 2.5% from the January 2024 level.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 major near-term concerns.Over the past six months, AB shares have gained 5.5% compared with the industry’s 22.5% rally.
