Published on 13 Feb 2024 on Zacks via Yahoo Finance
AllianceBernstein's (AB) January AUM Up on Market Appreciation
AllianceBernstein Holding L.P. AB announced assets under management (AUM) for January 2024. The company’s preliminary month-end AUM of $726 billion reflects a marginal rise from the end of December 2023.The increase was mainly driven by market gains, partially offset by net outflows.At the end of January, AllianceBernstein’s Equity AUM was unchanged on a sequential basis at $309 billion. Alternatives/Multi-Asset Solutions AUM (including certain multi-asset services and solutions) rose marginally to $136 billion. Fixed Income AUM of $281 billion was also unchanged from the end of December 2023.In terms of channel, January month-end institutions AUM of $313 billion declined 1.3% from the previous month. Retail AUM was $291 billion, up 1.4% from the prior month’s end. Private Wealth AUM of $122 billion increased marginally from the December 2023 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 14.1% compared with the industry’s 21.9% rally.
