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AllianceBernstein's (AB) April AUM Stable on Upbeat Markets

AllianceBernstein Holding L.P. AB has announced assets under management (AUM) for April 2023. The company’s preliminary month-end AUM of $676 billion was unchanged from the end of March 2023.

A marginal improvement in market performance was offset by total firm-wide net outflows.

At the end of April, AllianceBernstein’s Equity AUM increased slightly on a sequential basis to $287 billion. Alternatives/Multi-Asset Solutions AUM (including certain multi-asset services and solutions) remained stable at $126 billion. Further, Fixed Income AUM of $263 billion declined marginally from the end of March 2023.

In terms of channel, April month-end institutions AUM of $304 billion decreased almost 1% from the previous month. Retail AUM was $259 billion, which grew roughly 1% from the prior month’s end. Private Wealth AUM of $113 billion was in line with the March 2023-level.

AllianceBernstein’s global reach and solid AUM balance are likely to keep boosting top-line growth. However, rising operating costs and a challenging operating backdrop are near-term concerns.

Over the past six months, shares of the company have lost 13.7% compared with a 14.4% decline of the industry.

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Zacks Investment Research

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Currently, AllianceBernstein carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other Asset Managers

Cohen & Steers CNS reported preliminary AUM of $80.9 billion as of Apr 30, 2023, which reflects an increase of 1.3% from the prior-month level.

Market appreciation of $1.3 billion supported the rise in CNS’ AUM balance. This was partially offset by net outflows of $86 million and distributions of $185 million.

Franklin Resources BEN reported preliminary AUM of $1,420.7 billion for April 2023. This indicated a slight fall from the Mar 31, 2023 level.

For Franklin, the marginal decrease in the reported month’s AUM reflected the impact of cash management net outflows. These were largely offset by favorable market returns and flat long-term net inflows, which included a low-fee $3.2 billion equity mandate.

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