AllianceBernstein on Wednesday reported assets under management of $434.6 billion as of June 30, down 1.9% from three months earlier but up 6.7% from a year earlier.
Institutional AUM totaled $223.9 billion, down 0.5% from a quarter ago, according to AllianceBernstein's second-quarter earnings release; $144.4 billion was managed for retail clients, down 4%; and $66.3 billion was managed for private clients, down 2%.
Total net inflows for the latest quarter were $200 million vs. inflows of $2.6 billion in the first quarter and net outflows of $2.8 billion in the second quarter of 2012. Net institutional inflows in the latest quarter were $4.7 billion, compared with $3.3 billion in inflows in the first quarter. Net retail outflows of $3.2 billion were down from inflows of $200 million in the previous quarter, while net outflows for private clients were $1.3 billion compared to net outflows of $900 million in the quarter ended March 31.
Net revenue for the first quarter was $734 million, up 4% from the quarter ended March 31 and 14.3% higher than the year-ago quarter.
AllianceBernstein's net income for the first quarter was $127.3 million, up 12.7% from $113 million in the first quarter and 74.6% higher than $72.9 million in the second quarter of 2012.