AllianceBernstein, driven by strong flows in both its institutional and retail channels, reported $793 billion in assets under management at the end of the second quarter, up roughly 7% from three months earlier. Assets grew 27% during the year ended June 30. The company now manages $500.6 billion in institutional assets and $185.4 billion in retail, up 6.9% and 7.2%, respectively. The company also manages $107 billion in private client assets, up 6.6% during the quarter.
Gerald Lieberman, president and COO, said during a quarterly earnings conference call today that institutional assets accounted for 54% of the roughly $42 billion in total net flows during the year. About 90% of AllianceBernsteins $4 billion in net institutional flows in the quarter came from non-U.S. investors.
Among other announcements from money management firms today, Franklin Resources said assets under management increased 8.8% to $624 billion for the quarter and 27.3% for the year ended June 30. Net income was $480 million, up 8.8% for the quarter and 29.1% for the year. Net revenues were $1.6 billion, up 8.7% for the quarter and 24.5% for the year.
The asset growth was fueled by robust net inflows of $15.9 billion, Michael Carrier, a UBS analyst, wrote in a report on Franklin.
Janus Capital Groups net inflows excluding those from subsidiary INTECH were in the green in the second quarter for the first time in six years. Net inflows for the quarter ended June 30 were $1.5 billion; three months ago, they were break-even flow, and -$3 billion for the second quarter of 2006. This is the best showing weve had in six years as we continue to get momentum from the strong performance weve had, CEO Gary Black said in a conference call with analysts.
INTECH, meanwhile, posted net inflows of $1.3 billion during for the three months ended June 30, down 58% from the previous quarter and 50% from a year earlier. Short-term performance numbers have been lackluster, and the replacement cycle that fueled inflows in 2005 and 2006 has played out, said Mr. Black. He noted that long-term performance numbers and finals activity in the firms enhanced indexing business remained strong.
Total assets under management reached $190.6 billion in the second quarter, an increase of 8.2% over the previous quarter and up 24.3% for the year.
Nuveen Investments reported a 3.3% rise in assets as of June 30, driven largely by its institutional managed accounts business, which was up 11%. Assets under management totaled $171.6 billion at the end of the second quarter, a 3.3% increase from a year earlier. Some of the growth was the result of Nuveens acquisition of HydePark Investment Strategies, which manages $363 million, said John Amboian, Nuveen CEO.
For the year, assets under management increased 15.2%, driven by $9.3 billion in net flows and $12.9 billion in market appreciation.