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July 25, 2019 12:14 PM

AllianceBernstein AUM up 4.7% in quarter, 7.6% for year

Danielle Walker
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    Bloomberg
    Seth Bernstein, president and chief executive officer of AllianceBernstein

    AllianceBernstein reported assets under management of $580.8 billion as of June 30, up 4.7% from March 31 and 7.6% from June 30, 2018, the company said in an earnings statement released Thursday.

    Net inflows across the firm totaled $9.5 billion in the second quarter vs. net inflows of $1.1 billion in the first quarter and net outflows of $7.7 billion in the year-earlier quarter.

    Net inflows from institutional investors totaled $4.2 billion, compared to net outflows of $4.7 billion in the first quarter and net outflows of $8 billion in the quarter ended June 30, 2018.

    "Total firmwide net inflows of $9.5 billion were positive for a fourth straight quarter and were driven by $10.2 billion of active net inflows," President and CEO Seth P. Bernstein said in a statement. "Year-to-date active net inflows of $12.3 billion translates to a 5.4% annualized organic growth rate and is our best first half in more than a decade."

    By asset class, AllianceBernstein's actively managed strategies experienced net inflows of $10.2 billion during the first quarter. Active equity strategies had $1 billion in inflows, active fixed-income strategies recorded $2.2 billion in net inflows and other actively managed strategies — which includes multiasset and alternatives — saw $2.2 billion in net inflows.

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

    Across its suite of passive strategies, the company had $700 million in net outflows. Passive equity products saw $600 million in net outflows, fixed-income passive strategies saw $200 million in net outflows and other passively managed strategies had net inflows of $100 million.

    Net inflows from taxable fixed-income strategies totaled $6.9 billion during the first quarter, while tax-exempt fixed-income strategies had $100 million in net inflows. AB's other investment strategies, which include multiasset and alternative investments, had $2.3 billion in net inflows.

    AB's net revenue for the second quarter was $857.8 million, up 7.8% from the prior quarter and up 1.5% from the year earlier.

    Net income was $174 million in the three months ended June 30, up 9.3% from the previous quarter and down 4.4% from the second quarter of 2018.

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