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Shares of AllianceBernstein Holding L.P. AB have rallied 1.5% since the announcement of assets under management (AUM) for July 2021 last week. The company’s preliminary month-end AUM of $748 billion grew 1% from the prior month. Market appreciation, along with total firm wide net inflows, mainly drove the rise.
At the end of July, AllianceBernstein’s Equity AUM increased 2.5% sequentially to $334 billion. Fixed Income AUM inched up 0.6% from June 2021 to $317 billion. Alternatives/Multi-Asset Solutions AUM (including certain multi-asset services and solutions) was stable at $97 billion.
In terms of channel, month-end Institutions AUM of $332 billion was up almost 1% from the previous month. Both Retail AUM and Private Wealth AUM increased 1.7% on a sequential basis to $299 billion and $117 billion, respectively.
AllianceBernstein’s global reach and solid assets balance are likely to boost top-line growth.
Shares of AllianceBernstein have surged 50% so far this year, outperforming the 34.8% rally of the industry.
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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
Franklin Resources, Inc. BEN has reported preliminary AUM balance of $1,557.3 billion for July 2021. This reflects a marginal increase of 0.3% from $1,552.1 billion recorded as of Jun 30, 2021
Invesco’s IVZ preliminary month-end AUM of $1,528.4 billion for July 2021 represented a marginal rise of 0.2% from the prior month. The rise was mainly driven by net inflows of $3.5 billion. During the month, AUM balance wasn’t materially impacted by market returns or foreign exchange rate movements.
T. Rowe Price Group, Inc. TROW reported preliminary AUM of $1.64 trillion as of Jul 31, 2021. This reflects a marginal increase from the prior month’s $1.62 trillion.
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