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.
