Alliance assets up; Putnam loses $1 billion

Alliance Capital Management saw a rebound in its assets under management last month, while Putnam Investments sustained a $1 billion loss, less than it lost in July. Alliance gained $6 billion in assets under management to end August with $479 billion. The firm had lost $8 billion in July. In August, value equity remained the company's strongest draw, with a $4 billion rise, while growth equity assets slipped by $1 billion. Fixed-income assets rose $3 billion. Putnam had $209 billion in assets under management as of Aug. 31, the company announced today. The manager had reported a $3 billion drop for July. The July numbers included an $8 billion gain because of Putnam's acquisition of an additional stake in PanAgora Asset Management; otherwise, Putnam's July loss would have been $11 billion. For August, Putnam's institutional AUM held steady at $69 billion, while its mutual fund total slipped to $140 billion, from $141 billion at the end of July.