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.