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 (AB) announced the expansion of its AB Advisor Institute, introducing a proprietary digital assessment tool and a Certified Practice Management Consultants (CPMC) program in collaboration with Vanderbilt Owen Graduate School of Management. The program includes a comprehensive training curriculum tailored for financial advisors, aimed at enhancing practice management skills. By December 2021, all regional managers will earn the CPMC designation. AB's new Digital Coach tool has already benefited over 200 advisors since its launch in May 2021, providing tailored strategic insights.
AllianceBernstein L.P. (AB) announced an increase in preliminary assets under management to $765 billion as of October 31, 2021, up from $742 billion at September 30, 2021. This 3% rise was primarily driven by market appreciation and firmwide net inflows. Notably, net inflows to Retail and Private Wealth areas were partly mitigated by net outflows from the Institutional segment. This performance reflects AB's ongoing strength in asset management despite mixed inflow trends.
AllianceBernstein (AB) has announced the addition of Jackson National Life Insurance Company (JXN) to its Lifetime Income Strategy (LIS) platform, enhancing retirement solutions for Defined Contribution plans. With this move, Jackson becomes the fifth insurer backing AB's in-plan guaranteed income solution, which currently manages over $6 billion in assets. AB aims to provide effective lifetime income options, benefiting both plan sponsors and participants, especially in light of the SECURE Act's provisions on annuities.
AllianceBernstein announced that CFO Ali Dibadj will participate in the BofA Banking & Financials Conference on November 9, 2021, at 9:40 a.m. ET. The event will be available via a live audio webcast on the company’s website, where a replay will also be accessible later. As of September 30, 2021, AllianceBernstein Holding owns approximately 36.1% of AllianceBernstein, with Equitable Holdings owning about 64.7%. For more information, visit www.alliancebernstein.com.
AllianceBernstein L.P. (AB) reported Q3 2021 results with net inflows of $7.2 billion, reflecting 4% annualized organic growth. Notably, all client channels showed net inflows for the fourth time in five quarters, led by active equities and municipal investments. The adjusted operating margin expanded to 31.8%, while adjusted earnings per unit rose 29% to $0.89. Total assets under management reached $742.2 billion, a 17.7% increase year-over-year. Despite positive performance, the firm anticipates continued volatility in the market.
AllianceBernstein (NYSE: AB) announced that its Third Quarter 2021 financial results will be released on October 28, 2021, followed by a teleconference at 9:30 am ET. Key executives, including Seth Bernstein and Ali Dibadj, will host the call. Investors can access the call through a webcast or by dialing in. The presentation will be available on the Investor Relations website shortly after the results release. A replay will be accessible for two weeks. As of September 30, 2021, AllianceBernstein Holding owns approximately 36.1% of AllianceBernstein.
AllianceBernstein L.P. (NYSE: AB) reported a decline in assets under management (AUM) to $742 billion as of September 30, 2021, down from $761 billion at the end of August, reflecting a 2% decrease.
The reduction was attributed to market depreciation outweighing firmwide net inflows, with net inflows to Retail and Private Wealth being partially offset by outflows from Institutions. The financial management firm continues to navigate challenging market conditions that impact AUM.
AllianceBernstein (AB) has successfully closed its third collateralized loan obligation (CLO), AB BSL CLO 3, valued at $500 million, with Citigroup as the lead arranger. This deal highlights AB's expanding CLO management business initiated in 2019 under the leadership of Scott Macklin. The firm's CLO platform has issued 12 transactions since 2016, accumulating a total of $4.3 billion in financing. AB aims to further strengthen its investor relationships and CLO operations, supported by investment from Equitable Financial Life Insurance Company.
AllianceBernstein (AB) appointed Todd Walthall to its board of directors, effective September 21, 2021. Walthall, known for his expertise in customer experience, will serve on the Audit and Risk Committee. Currently, he is the Executive Vice President of Enterprise Growth at UnitedHealth Group, previously holding leadership roles at Blue Shield of California. His appointment is expected to contribute positively to AB’s business and culture.
AllianceBernstein (AB) announced a rise in preliminary assets under management to $761 billion in August 2021, up 2% from $748 billion in July. This increase was driven by market appreciation and net inflows, although retail and institutional inflows were partially offset by modest outflows from private wealth. The firm continues to face risks due to market performance and economic conditions, which could impact future results.