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April 25, 2019 01:00 AM

AllianceBernstein's assets rise 7.4% for quarter, up slightly for year

Rob Kozlowski
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    Bloomberg
    Doug Peebles, chief investment officer of fixed income for AllianceBernstein LP, speaks during a Bloomberg Television interview in New York, U.S., on Friday, Feb. 15, 2019.

    AllianceBernstein had assets under management of $554.7 billion as of March 31, up 7.4% from three months earlier and up 0.9% from a year earlier, the company disclosed in its first-quarter earnings report Thursday.

    Net inflows across the firm totaled $1.1 billion in the first quarter vs. net inflows of $800 million in the fourth quarter and net outflows of $2.4 billion in the first quarter of 2018.

    Net outflows from institutional investors totaled $4.7 billion in the quarter, driven by taxable fixed-income redemptions, according to an earnings presentation, compared with net inflows of $1 billion in the previous quarter and net outflows of $2.8 billion in the year-earlier quarter.


    Compare fund flows and AUM of publicly traded money managers with P&I's Earnings Tracker

    By asset class, AllianceBernstein's actively managed strategies experienced net inflows of $2.2 billion during the first quarter. Active equity strategies had $1 billion in net inflows; and active other strategies, which includes multiasset and alternatives, also had $1 billion in net inflows. Active fixed-income strategies had $200 million in net inflows during the period.

    Among passive strategies, only the other category experienced net inflows, with $100 million. Passive equity and fixed-income strategies had net outflows of $800 million and $400 million, respectively.

    First-quarter revenue totaled $795 million, down 1.1% from the prior quarter and down 8.3% from the year-earlier quarter.

    Net income for the first quarter totaled $159 million, down 20.3% from the fourth quarter and down 23.2% from the first quarter of 2018.

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