AllianceBernstein's total assets under management reached $445.2 billion at Sept. 30, up 2.4% from the end of the last quarter and up 6.3% from a year ago, according to the company's earnings statement released Thursday.
Institutional AUM totaled $227.3 billion, up 1.5% from three months ago; $149.8 billion was managed for retail clients, up 3.6%; and $68.1 billion was managed for private clients, up 2.6%.
The company saw total net outflows of $4.8 billion during the third quarter, compared to the net inflows of $200 million last quarter and net outflows of $4.4 billion during the year-earlier quarter. Net outflows from the institutional channel were $3.5 billion, compared to net inflows of $4.7 billion in the second quarter and net outflows of $7.7 billion in the year-ago quarter.
Net revenues for AllianceBernstein were $706 million in the third quarter of 2013, down 4% from the second quarter and down 0.3% from the third quarter of 2012. Net income for the quarter was $101 million, down 25.4% from the last quarter and an improvement over a net loss of $48 million in the year-ago quarter.