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 has launched its initial active exchange-traded funds (ETFs) on the NYSE, including the AB Ultra Short Income ETF (YEAR) and the AB Tax-Aware Short Duration Municipal ETF (TAFI). These ETFs aim to provide clients with accessible fixed income solutions amid rising interest rates. With extensive industry experience, Jane Street will serve as the Lead Market Maker. The firm plans to expand its ETF offerings over time, reflecting its commitment to innovative investment strategies and client needs. As of August 31, 2022, AllianceBernstein managed $667 billion in assets.
On September 12, 2022, AllianceBernstein reported a decline in preliminary assets under management (AUM) to $667 billion in August 2022, down from $689 billion in July. This 3% decrease was primarily attributed to market depreciation, despite net inflows in the Private Wealth channel. The firm experienced modest outflows from both Institutional and Retail channels, which partially offset the inflows.
AllianceBernstein has made its 2021 Schedule K-3 available for unitholders, particularly aiding foreign investors and those calculating foreign tax credits. This schedule contains crucial international tax information necessary for accurate federal income tax returns. Unitholders can access the K-3 online at www.taxpackagesupport.com/ab. As of July 31, 2022, AllianceBernstein manages $689 billion in assets, solidifying its position as a top investment management firm.
AllianceBernstein L.P. (AB) reported a significant increase in assets under management (AUM), rising from $647 billion in June to $689 billion by July 31, 2022, marking a 6.5% increase fueled by market appreciation and the acquisition of CarVal Investors. However, net outflows were noted, contributing to a $1.7 billion decrease due to AXA S.A's ongoing redemption of low-fee fixed income mandates, with $2.3 billion still expected to be redeemed. Despite overall outflows, Institutional net flows remained positive for July.
AllianceBernstein Holdings L.P. (AB) has successfully closed its US Commercial Real Estate Debt Fund IV, securing $1.3 billion in commitments from global institutional investors. This fund raises the platform's total capital commitments to over $4.5 billion since December 2020. The US Commercial Real Estate Debt platform now manages total assets of $10.5 billion, with $9.0 billion actively managed. The closing reflects the firm's strong portfolio management amid market challenges, including the COVID-19 pandemic, and supports its growth strategy in private markets.
AllianceBernstein Holding L.P. (AB) reported second quarter 2022 financial results, highlighting a GAAP diluted net income of $0.69 per unit and adjusted diluted net income of $0.71 per unit. Total net revenues fell to $971.4 million, a 9.8% decrease year-over-year, attributed to lower performance fees and investment advisory fees. Assets under management dropped 12% to $646.8 billion. The firm faced net outflows of $2.7 billion, contrasted by organic growth in some sectors. The cash distribution of $0.71 per unit is scheduled for August 18, 2022.
AllianceBernstein L.P. and AllianceBernstein Holding L.P. (NYSE: AB) will release their Second Quarter 2022 financial results on July 29, 2022. A teleconference will follow at 9:00 am (CT), hosted by CEO Seth Bernstein and CFO Catherine Burke. Investors can access the call via webcast or telephone. A replay will be available after the call, including an audio replay for one week. As of June 30, 2022, AllianceBernstein Holding owned approximately 35.7% of AllianceBernstein, while Equitable Holdings owned about 65%.
AllianceBernstein (AB) reported a decrease in assets under management (AUM) to $647 billion as of June 30, 2022, down from $687 billion at the end of May, representing a 6% decline. This drop was mainly due to negative market conditions and modest net outflows. Notably, AUM included $0.5 billion from ongoing redemptions by AXA S.A. for low-fee mandates, with an estimated $4.0 billion pending redemption by year-end. While Private Wealth saw net inflows, Retail and Institutions experienced outflows, reflecting mixed performance across channels.
AllianceBernstein Holding L.P. (NYSE: AB) announces key leadership changes, appointing Kate Burke as Chief Financial Officer (CFO) while retaining her role as Chief Operating Officer (COO). She succeeds Bill Siemers, who returns to his previous position. Onur Erzan, formerly Head of Global Client Group, now leads Bernstein Private Wealth in addition to his existing responsibilities. These changes are aimed at enhancing the firm's ability to meet client needs and drive future growth. As of May 31, 2022, AllianceBernstein managed $687 billion in assets.
AllianceBernstein has successfully completed its acquisition of CarVal Investors, announced on March 17, 2022. CarVal, based in Minneapolis, brings approximately $15 billion in assets under management (AUM), enhancing AB's private markets platform to $50 billion in AUM. This strategic move aims to grow AB's Private Alternatives business, with strong fundraising momentum evidenced by $2.1 billion raised by CarVal. The firm will now operate as AB CarVal Investors, further solidifying its commitment to delivering value to clients.