AllianceBernstein Reports Preliminary AUM Growth to $813 Billion for November 2024

AllianceBernstein Reports Significant AUM Growth

AllianceBernstein L.P. (commonly referred to as AB) and AllianceBernstein Holding L.P. have released preliminary figures indicating a noteworthy increase in their assets under management (AUM). As of November 30, 2024, the combined AUM has risen to an impressive $813 billion from $793 billion at the close of October. This marks a 2.5% increase in month-end AUM, attributable primarily to market appreciation, albeit slightly tempered by net outflows.

Breakdown of AUM by Channel

The growth in AUM didn't follow a uniform pattern across all segments. Retail and Private Wealth channels experienced net inflows, suggesting a robust interest from individual investors and private wealth clients. However, these inflows were not enough to entirely counterbalance the net outflows reported by institutional clients. The overall dynamics indicate varied investor sentiment and activity across different market segments.

Detailed Analysis

- Equity Management:

- Actively Managed Equity saw a notable increase to $272 billion, up from $265 billion. This segment reflects AB's active investment strategies, focusing on producing higher returns by selecting specific stocks based on fundamental analysis.
- Passive Equity holdings also showed growth, rising to $71 billion from $68 billion, demonstrating sustained interest in index-based strategies that require less active management effort.

- Fixed Income Investment:

- The firm holds a total of $303 billion in fixed income assets, which includes taxable and tax-exempt securities. There was a slight uptick from $296 billion previously, with taxable instruments particularly contributing to the increase.
- Tax-exempt fixed income assets also saw growth from $72 billion to $77 billion, suggesting confidence in non-taxable investment strategies.

- Alternatives and Multi-Asset Solutions:

- The alternative investment strategies are a significant part of AB’s offering, with total assets reaching $167 billion, up from $164 billion. This reflects the growing trend among investors seeking diversification beyond traditional asset classes to mitigate risks and enhance returns.

Economic Context

The trend in AUM growth is reflective of broader market conditions where investor confidence has been gradually recovering. Positive market movements have likely bolstered investment valuations, serving as a catalyst for inflows. Nonetheless, it’s important to remain cautious as net outflows from institutional classes remind investors of ongoing economic uncertainties, such as inflation, geopolitical tensions, and fluctuating interest rates.

Forward-Looking Statements

Management at AllianceBernstein has indicated that while the preliminary numbers are promising, they are not without caution. The firm acknowledges that numerous external factors, including market performance, economic conditions, and regulatory changes, could influence future AUM results. As such, AB emphasizes the importance of following careful risk management practices amid changing market dynamics.

About AllianceBernstein

AllianceBernstein is distinguished as a premier global investment management firm, offering a broad spectrum of investment services to both institutional investors and individual clients across key global markets. As of September 30, 2024, AllianceBernstein Holding owned approximately 39.3% of AllianceBernstein, with a substantial economic interest represented by Equitable Holdings, Inc. and its subsidiaries, which control about 61.6% of AB.

For those interested in AllianceBernstein's offerings and news updates, more information can be found on their website at www.alliancebernstein.com.