AllianceBernstein reported $485.9 billion in assets under management as of March 31, up 2.5% from Dec. 31 and up 7% from a year earlier.
In its earnings statement issued Thursday, the company said institutional assets under management totaled $243.7 billion, up 2.8% from three months earlier. Retail accounted for $164.3 billion and private clients, $77.9 billion.
AllianceBernstein saw total net inflows of $6 billion for the quarter ended March 31, compared to net outflows of $1.6 billion for the prior quarter and net outflows of $4.4 billion during the year-earlier period. Net institutional inflows were $5.4 billion in the quarter, compared to net outflows of $300 million in the fourth quarter of 2014 and net outflows of $3.8 billion during the first quarter of 2014.
Net revenue for the first quarter totaled $762.6 million, down 3.1% from the previous quarter but up 6.7% from the year-earlier quarter. AllianceBernstein’s first-quarter net income, meanwhile, totaled $141.5 million, down 20.3% from the prior quarter but up 21.2% from the first quarter of 2014.