AllianceBernstein had $489.5 billion in assets under management as of June 30, up 2.2% from March 31 and 1% from June 30, 2015, the company reported in its earnings statement on Thursday.
Total net inflows were $3.5 billion, compared to net inflows of $2.2 billion both in the prior quarter and during the second quarter of 2015.
Institutional net inflows during the second quarter were $1 billion, compared to net inflows of $1.8 billion in the first quarter and $3.5 billion during the second quarter of 2015.
“In another volatile quarter characterized by social and political unrest, uncertainty about economic growth and interest rates and the steady march of assets from active to passive strategies, we were pleased to attract $3.5 billion in net inflows,” said Peter S. Kraus, chairman and CEO, in the earnings statement.
Net revenue for the second quarter totaled $725.8 million, down 5.6% from the first quarter and down 8.4% from the first quarter of 2015. Net income totaled $132 million, down 19.1% from the prior quarter and down 15.3% from the same quarter a year ago.
