AllianceBernstein Holding, L.P. reports recurring developments for a global investment management firm that offers diversified investment services to institutional investors, retail clients and private wealth clients. Company updates commonly cover quarterly operating results, GAAP and adjusted net income per unit, cash distributions to unitholders, and monthly preliminary assets under management.
AB news also tracks AUM flows by Institutional, Retail and Private Wealth channels and by equity, fixed income, alternatives and multi-asset strategies. Additional updates include Bernstein Private Wealth Management initiatives, investment-technology infrastructure, senior leadership changes and ownership references tied to AllianceBernstein L.P. and Equitable Holdings.
AllianceBernstein Holding L.P. (NYSE: AB) has announced that its 2023 Schedule K-3, which contains information on international tax relevance, is now available for unitholders to download online. This document is primarily needed by foreign unitholders, those computing foreign tax credits, and certain corporate or partnership unitholders for their specific tax reporting requirements.
Unitholders can access their Schedules K-3 at www.taxpackagesupport.com/ab. AB encourages affected investors to review the information in the form and consult with a tax advisor if necessary. For those who prefer an electronic copy via email, unitholders can call Tax Package Support toll-free at (844) 275-9875.
AllianceBernstein (AB) has analyzed over 11,000 ESG-labeled bonds, revealing that while issuance has declined, the overall quality of the market has improved. AB's proprietary strength score, based on disclosure, ambition, and credibility of targets, shows a surge in quality across issuers and vintage years.
Key findings include:
- Weaker issues are less frequent in the market
- Greenwashing appears to be less of an issue
- Active investors are guiding issuers towards stronger ESG-labeled bond structures
AB's engagements with companies have shown positive results, such as supporting ambitious sustainability-linked bonds (SLBs) and encouraging substantial scope 3 emissions reduction targets. This analysis demonstrates the evolving landscape of ESG-labeled bonds, emphasizing quality over quantity in the market.
AllianceBernstein (NYSE: AB) reported a 1% increase in assets under management (AUM) for July 2024, reaching $777 billion from $770 billion in June. The growth was primarily driven by market appreciation, partially offset by net outflows. Key highlights include:
- Solid net inflows in Retail channel
- Net outflows in Institutions
- Modest net outflows in Private Wealth
- Total Equity AUM increased to $331 billion
- Fixed Income AUM decreased to $285 billion
- Alternatives/Multi-Asset Solutions AUM grew to $161 billion
The company also reclassified $12 billion of Private Placements AUM from Taxable Fixed Income to Alternatives/Multi-Asset as of July 31, 2024.
AllianceBernstein (AB) has been shortlisted in nine categories at the Investment Week Sustainable Investment Awards 2024, recognizing their efforts in ESG integration and sustainable investing. Highlights include:
1. Best Sustainable Investment Thought Leadership Paper for their publication on climate change and modern slavery.
2. Best Sustainable Investment Research Team for AB's Environmental Research and Engagement Team.
3. Best Sustainable Investment Education Initiative for their Climate Change and Investment Academy.
4. Group of the Year for ESG Integration for AB's Fixed Income Responsible Investing Team.
5. Multiple nominations for AB's Portfolios with Purpose in various fund categories.
These nominations reflect AB's commitment to integrating material ESG factors into research and investments across global assets.
AllianceBernstein (AB) has been accepted as a signatory to the UK Stewardship Code for the fourth consecutive year. This code sets high standards for those investing on behalf of UK savers and pensioners. AB's Global Stewardship Statement and 2023 Report provides an overview of their activities in corporate responsibility, responsible investing, and stewardship.
Key highlights include:
- 80% of AB's actively managed AUM integrates material ESG considerations
- AB received a 100% score on the Human Rights Campaign's Corporate Equality Index
- The company opened a new London office with a BREEAM 'outstanding' rating
- AB developed partnerships with eCornell and Columbia Climate School
- The firm introduced a Climate Transition Alignment Framework (CTAF)
AllianceBernstein (NYSE: AB) reported its Q2 2024 financial results. GAAP diluted net income per unit was $0.99, a significant increase of 86.8% year-over-year. Adjusted diluted net income per unit was $0.71. The firm declared a cash distribution of $0.71 per unit. Net revenues rose 1.9% year-over-year to $1.03 billion, while operating income increased 5.6% to $199 million. However, sequentially, net revenues fell 6.9% and operating income dropped 17.6% from Q1 2024. Ending assets under management (AUM) were $769.5 billion, up 11.3% year-over-year. Retail channel net inflows were $2.8 billion, while institutional net outflows improved but remained negative at $1.8 billion. Adjusted operating income increased 15% year-over-year, with an adjusted operating margin of 30.8%. Investment performance improved in equities and remained strong in fixed income.
AllianceBernstein (NYSE: AB) has launched its fifteenth actively managed ETF, the AB International Low Volatility Equity ETF (ILOW), on the New York Stock Exchange. ILOW aims for long-term capital growth by investing in large-cap and mid-cap non-U.S. companies, with a focus on managing share price volatility. This launch strengthens AB's position in the equities space and expands its ETF platform, which has surpassed $3 billion in active ETF AUM.
Noel Archard, AB's Global Head of ETFs and Portfolio Solutions, emphasized the company's commitment to creating model-friendly products suitable for periods of growth and volatility. Nelson Yu, AB's Head of Equities, highlighted the firm's experienced investment professionals and their understanding of market cycles as complementary to this launch.
AllianceBernstein L.P. and AllianceBernstein Holding L.P. (NYSE: AB) have announced the release of their Second Quarter 2024 financial and operating results on July 26, 2024, before market open. A teleconference hosted by key executives, including CEO Seth Bernstein, CFO Jackie Marks, and Head of Global Client Group and Private Wealth Onur Erzan, will follow at 9:00 am (CT) to discuss the results. The call can be accessed via webcast or telephone. For webcast access, visit AB's Investor Relations website 15 minutes prior for setup. For telephone access, dial the provided numbers 10 minutes before the start time. A replay will be available one hour after the call on their Investor Relations site.
On July 10, 2024, AllianceBernstein (AB) announced its assets under management (AUM) increased to $769 billion as of June 30, 2024, up from $757 billion at the end of May 2024. This 1.6% rise was driven by market appreciation, slightly offset by net outflows. By channel, net inflows in Private Wealth were balanced by net outflows in Institutions, while Retail flows remained flat. The detailed breakdown includes $330 billion in equity (both actively and passively managed), $293 billion in fixed income (including taxable, tax-exempt, and passive), and $146 billion in alternatives/multi-asset solutions.
AllianceBernstein (AB) has announced the opening of applications for its 'ReInvest' returnship program. The six-month initiative is designed for professionals in Nashville or New York who are looking to re-enter the workforce after a career break. Participants will enhance their skills, attend workshops, and receive mentorship from AB leaders. The program aligns with AB's commitment to responsible investing, integrating ESG factors into 70% of its assets under management, which total $759 billion as of March 31, 2024. AB emphasizes strong organizational culture, diversity, and mentorship to empower both employees and clients. Interested individuals can apply through the company's website.