AllianceBernstein reported $485.1 billion in assets under management as of June 30, down 0.2% from March 31 but up 1% from a year earlier, said its earnings statement released Thursday.
The company said institutional assets totaled $244.2 billion at the end of the second quarter, up 0.2% from the end of the first quarter and up 1.6% from June 30, 2014.
The firm's retail assets, meanwhile, totaled $163 billion, while private client AUM was $77.9 billion as of June 30.
AllianceBernstein saw total net inflows of $2.2 billion for the quarter ended June 30, compared to net inflows of $6 billion for the quarter ended March 31 and net inflows of $8.3 billion during the year-earlier period.
Net institutional inflows were $3.5 billion in the quarter, compared to net inflows of $5.4 billion in the first quarter and net inflows of $6.8 billion during the quarter ended June 30, 2014.
“Global markets were volatile in the second quarter of 2015,” said Peter S. Kraus, chairman and CEO, in the earnings statement. “Many investors were unwilling to take risk as a result, and we felt the effects across our business.”
Mr. Kraus added that despite this, AllianceBernstein was “able to attract $2 billion in net new assets and grow our adjusted net revenues, operating income and margin both sequentially and year-on-year.”
Net revenue for the second quarter totaled $792.7 million, up 4% from the first quarter and up 5.2% from the second quarter of 2014. Net income totaled $149.1 million, up 5.6% from the prior quarter and up 8.4% from the same quarter a year ago.
