NASHVILLE, Tenn., Aug. 23, 2024 /PRNewswire/ -- AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today announced that its 2023 Schedule K-3, reflecting items of international tax relevance, is now available for download online. AB unitholders requiring this information may access their Schedules K-3 at www.taxpackagesupport.com/ab.A limited number of unitholders (primarily foreign unitholders, unitholders computing a foreign tax credit on their tax return and certain corporate and/or partnership uni ...

AllianceBernstein Holding L.P. (AB) has announced assets under management (AUM) for July 2024. The company’s preliminary month-end AUM of $777 billion reflects a roughly 1% increase from the end of June 2024.The increase was primarily driven by market appreciation. This was partly offset by net outflows in the Institutions and Private Wealth channel. AB recorded net inflows in the Retail channel.At the end of July, AllianceBernstein’s Equity AUM rose marginally on a sequential basis to $331 billion. Alterna ...

NASHVILLE, Tenn., Aug. 12, 2024 /PRNewswire/ -- AllianceBernstein L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today announced that preliminary assets under management increased to $777 billion during July 2024 from $770 billion at the end of June. The 1% increase was driven by market appreciation, partially offset by net outflows. By channel, solid net inflows in Retail were offset by net outflows in Institutions, coupled with modest net outflows in Private Wealth.  AllianceBern ...

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The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. AllianceBernstein (AB) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.AllianceBernstein is one of 861 individual stocks in the Finance sector. Collectiv ...

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Shares of AllianceBernstein (AB) have been strong performers lately, with the stock up 3.6% over the past month. The stock hit a new 52-week high of $35.5 in the previous session. AllianceBernstein has gained 11.8% since the start of the year compared to the 12.9% move for the Zacks Finance sector and the 15.8% return for the Zacks Financial - Investment Management industry.What's Driving the Outperformance?The stock has an impressive record of positive earnings surprises, as it hasn't missed our earnings ...

Financial Data and Key Metrics Changes - In Q2 2024, AllianceBernstein's adjusted operating margin was 30.8%, up 380 basis points year-on-year, reflecting the execution of a multi-year margin improvement plan [6][19] - Gross sales for the quarter were $31.9 billion, an increase of $9.5 billion or 42% year-over-year [7] - Assets under management (AUM) reached $770 billion, up 11% year-over-year and 1% sequentially [7] Business Line Data and Key Metrics Changes - The private markets business grew to $64 billion, driven by private credit and real estate equity [6] - Retail gross sales were $23.2 billion, up 41% year-over-year, with net inflows of $2.8 billion [8][12] - Institutional gross sales were $3.3 billion, with net outflows of $1.8 billion, as active equity outflows outweighed fixed income growth [8][14] Market Data and Key Metrics Changes - The firm saw a 9% annualized organic growth in fixed income assets, with double-digit growth in institutional taxable and municipals [10] - In equities, 68%, 65%, and 64% of equity assets outperformed over the one-year, three-year, and five-year periods, respectively [11] - The firm experienced a slowdown in equity outflows, with recent trends showing increased interest in value strategies [12][46] Company Strategy and Development Direction - The company is focused on building out distribution in U.S. retail and investing in private wealth, which has contributed to sustained organic growth [6][25] - The firm is expanding its suite of services, including launching new active ETFs and enhancing its private markets offerings [25] - The company is optimistic about its insurance vehicle and its initial foray into the Chinese market, despite local market challenges [6] Management's Comments on Operating Environment and Future Outlook - Management expressed enthusiasm about the potential for fixed income flows as the Federal Reserve approaches interest rate cuts, with $6.4 trillion in cash on the sidelines [10][29] - The firm anticipates continued demand for its fixed income strategies, particularly from liability-driven investors like insurance companies [38] - Management noted that while retail trends remain strong, institutional flows are mixed, with a focus on improving performance in specific strategies [73] Other Important Information - The effective tax rate for ABLP was 6.0%, lower than expected, reflecting a favorable mix of earnings [24] - The company expects promotion and servicing expenses to decline by approximately 18% to 20% year-over-year in 2024 [21] Q&A Session Summary Question: Where do you think the money for fixed income demand will come from? - Management indicated that some funds will likely come from the $6.5 trillion sitting in money market funds, as retail investors become more comfortable with easing [29] Question: How should we think about the end state for margins? - Management reaffirmed commitment to margin improvement guidance, noting that the deconsolidation of Bernstein Research Services has already streamlined costs [32] Question: Can you provide perspective on the size and timing of elevated bond inflows? - Management noted that while timing is difficult to predict, there is strong demand from liability-driven investors and expectations for money to flow from money market funds into higher-yielding strategies [36][38] Question: What are the cash sweep options offered inside Bernstein? - Management stated that over 90% of revenue comes from advisory and service fees, with competitive cash rates between 4.5% to 5% offered to clients [40] Question: How did past rate cutting cycles affect high yield funds distributed in Asia? - Management indicated that the impact depends on the size and speed of rate cuts, but they expect strong demand for their strategies in a declining rate environment [55] Question: What is the focus on Japan and what products are marketed there? - Management highlighted Japan as a historical focus with strong demand for systematic fixed income and global high yield strategies [58][59]

Second Quarter 2024 Review July 26, 2024 Seth P. Bernstein, President & Chief Executive Officer Jackie Marks, Chief Financial Officer Cautions Regarding Forward-Looking Statements Certain statements provided by management in this presentation are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results e ...