Updated with correction
AllianceBernstein reported $480.2 billion in assets under management as of June 30, a 5.7% increase from the previous quarter and up 10.5% from a year earlier.
Institutional assets under management totaled $240.3 billion, while retail AUM was $165.4 billion and private client AUM totaled $74.5 billion, AllianceBernstein's second-quarter earnings release said on Wednesday.
Institutional AUM increased 6.1% from the previous quarter, when the manager reported $226.4 billion.
Total net inflows for the quarter were $8.3 billion, while institutional net inflows totaled $6.8 billion. The previous quarter, the manager had reported total net outflows of $4.4 billion and institutional net outflows of $3.8 billion.
Net retail inflows were $2 billion for the second quarter, while net outflows for private clients were $500 million. Retail net outflows were $1.1 billion in the previous quarter; private client net inflows had been $500 million.
Net revenue for the second quarter totaled $753.6 million, up 5.5% from the previous quarter and up 2.6% from the second quarter of 2013.
AllianceBernstein's second-quarter net income totaled $136.4 million, up 15.1% from the prior quarter and up 7.3% from the second quarter of 2013.
