AllianceBernstein’s AUM up 4.7% in Q3 to $806 billion amid institutional outflows

AllianceBernstein reported $806 billion in total assets under management as of Sept. 30, up 20.5% from $669 billion in same period a year ago and up 4.7% from $769.5 billion the previous quarter.

“We registered our third consecutive quarter of organic gains while reaching approximately $806 billion in assets under management, buoyed by strong equity and fixed-income markets,” said President and CEO Seth P. Bernstein in an Oct. 24 news release.

Bernstein noted that the firm has benefited from “re-allocations into fixed income” with almost $20 billion in active fixed-income inflows this year. During the third quarter, AllianceBernstein had $6 billion in actively managed fixed income net inflows, according to its earnings release.

While the firm reported total net inflows of $1.1 billion for the third quarter up from $900 million in the second quarter, their institutional channel saw third quarter net outflows of $4.4 billion compared to net outflows of $1.8 billion in prior quarter.

“Institutional net outflows persisted with active equity outflows offsetting organic gains in other asset classes,” Bernstein said in the news release. “Institutional pipeline remains stable at $10 billion, reflective of strong fundings and increased pass through assets during the third quarter.”

AllianceBernstein’s retail channel saw increased net inflows of $5.4 billion during the third quarter compared with $2.8 billion of inflows during the second quarter. Its private wealth channel saw flat net inflows from the previous quarter at $100 million.

Institutional assets under management are still the firm’s largest segment at $335.2 billion as of Sept. 30. But retail is close behind at $334.5 billion in assets under management followed by private wealth at $136.2 billion, according to the earnings release.