AllianceBernstein's August AUM Rises on Market Appreciation

Group 1 - AllianceBernstein Holding L.P. (AB) reported preliminary assets under management (AUM) of $791 billion for August 2024, reflecting a 1.8% increase from July 2024 [1] - The increase in AUM was primarily driven by market appreciation, although it was partially offset by net outflows in the Institutions channel [1] - Equity AUM rose 1.5% to $336 billion, Alternatives/Multi-Asset Solutions AUM increased 1.2% to $163 billion, and Fixed Income AUM grew 2.5% to $292 billion [1] Group 2 - Institutions AUM increased roughly 1% to $329 billion, Retail AUM rose 2.8% to $328 billion, and Private Wealth AUM increased 1.5% to $134 billion [1] - AllianceBernstein's global reach and solid AUM balance are expected to enhance top-line growth, despite rising operating costs and a challenging operating environment [2] - In the past six months, AB's shares gained 3.2%, while the industry saw an 8.4% increase [2] Group 3 - Invesco announced a preliminary AUM of $1.75 trillion for August 2024, representing a 1.1% increase from the previous month, driven by solid market returns and favorable foreign exchange impacts [5] - Lazard, Inc. reported a preliminary AUM of $244.3 billion for August 2024, reflecting a decrease from $246.1 billion in July 2024, primarily due to net outflows of $7.5 billion [5]