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 L.P. (NYSE: AB) reported a decrease in preliminary assets under management to $646 billion in December 2022, down from $658 billion at the end of November. This 2% reduction is attributed to market depreciation despite firmwide net inflows. Notably, the Institutions channel generated net inflows, while Private Wealth remained flat, and Retail experienced net outflows. Inflows to the low-fee Customized Retirement Strategies (CRS) platform totaled $6.4 billion.
Summary not available.
AllianceBernstein L.P. (AB) reported a 5% increase in assets under management (AUM), rising to $658 billion as of November 30, 2022, up from $627 billion at the end of October. This growth was primarily driven by market appreciation, although net outflows were noted across Retail and Institutional channels, with Private Wealth showing slight net inflows. The firm continues to navigate challenges while aiming to enhance its investment strategies.
AllianceBernstein L.P. (NYSE: AB) announced that Seth Bernstein, President and CEO, will participate in the Goldman Sachs 2022 US Financial Services Conference on December 6, 2022, starting at 9:00 a.m. (CT). A live audio webcast of the session will be available on their Investor Relations website, with a replay provided afterward. As of September 30, 2022, AllianceBernstein Holding owned approximately 36.5% of AllianceBernstein, while Equitable Holdings, Inc. held about 64.3%.
AllianceBernstein (NYSE: AB) and Societe Generale announced a joint venture on Nov. 22, 2022, combining their cash equities and equity research operations. This partnership intends to create a leading global cash equities and equity research business, providing enhanced services to institutional investors and issuers. Societe Generale will hold a 51% stake, with an option for full ownership after five years. The venture is expected to enhance operational margins for AllianceBernstein and will not impact its asset management business. The transaction is anticipated to close by the end of 2023, pending regulatory approvals.
On November 9, 2022, AllianceBernstein (AB) reported a rise in Assets Under Management (AUM) to $627 billion as of October 31, 2022, up from $613 billion in September, marking a 2% increase. This growth was driven by market appreciation despite net outflows across all channels. The detailed AUM included significant contributions from actively managed, fixed income, and alternative investments. Cautions regarding forward-looking statements were noted, highlighting risks like market performance and economic conditions.
AllianceBernstein L.P. (AB) reported its Q3 2022 financial results amid challenging market conditions. The firm experienced a GAAP diluted net income of $0.56 per unit and an adjusted diluted net income of $0.64 per unit. Total net revenues decreased by 10% year-over-year to $987 million, while operating income fell 39% to $170 million. Notably, net outflows reached $10.5 billion, a significant decline from the previous quarter. Despite these challenges, the institutional pipeline expanded to $24.7 billion.
AllianceBernstein (NYSE: AB) will release its Third Quarter 2022 financial results on October 28, 2022, followed by a teleconference at 9:00 am (CT). Key executives, including CEO Seth Bernstein, will host the call. Investors can access the call via webcast or telephone by registering online. A presentation will be available on the Investor Relations website after the results are announced. A replay of the webcast will also be available post-conference.
AllianceBernstein Holding L.P. (NYSE: AB) has appointed Erin Bigley as the new Chief Responsibility Officer. With over 20 years at the firm, she previously led fixed income and responsible investing initiatives. Bigley will oversee key strategies in responsible investing and corporate responsibility, enhancing the firm's commitment to these areas. She replaces Michelle Dunstan, who left for an external opportunity. As of September 30, 2022, AllianceBernstein manages $613 billion in assets.
AllianceBernstein L.P. (NYSE: AB) reported a decline in preliminary assets under management (AUM) to $613 billion as of September 30, 2022, down from $667 billion at August's end. This 8% decrease is attributed to market depreciation and net outflows, particularly from Retail, which saw $2.2 billion in AXA redemptions, completing the expected $4 billion for the year.