Core Insights - AllianceBernstein L.P. and AllianceBernstein Holding L.P. reported a preliminary increase in assets under management (AUM) to $867 billion in December 2025, up from $865 billion in November 2025, driven by market appreciation [1][2] - The firm experienced slightly negative total net flows for December, with strong inflows from Private Wealth and Institutional segments being offset by outflows from Retail [1] - For the quarter ending December 31, 2025, the firm reported preliminary firmwide net outflows of approximately $5.0 billion [1] Assets Under Management Breakdown - As of December 31, 2025, the total AUM was $867 billion, with the following breakdown: - Total Equity: $356 billion, consisting of: - Actively Managed: $278 billion - Passive: $78 billion - Total Fixed Income: $314 billion, consisting of: - Taxable: $213 billion - Tax-Exempt: $91 billion - Alternatives/Multi-Asset Solutions: $197 billion [2] - The AUM figures reflect a month-end increase of $2 billion, with total AUM at the end of November 2025 being $865 billion [1][2] Ownership Structure - As of December 31, 2025, AllianceBernstein Holding owned approximately 31.1% of AllianceBernstein, while Equitable Holdings, Inc. held an approximate 68.3% economic interest in AllianceBernstein [6]

Core Insights - Franklin Resources, Inc. (BEN) reported preliminary assets under management (AUM) of $1.68 trillion as of December 31, 2025, reflecting a slight increase from the previous month [1][6] - The growth in AUM was driven by long-term net inflows of $28 billion, which included $26 billion in reinvested distributions, partially offset by $1 billion in net outflows at Western Asset Management [1][6] AUM Breakdown by Asset Class - Equity assets amounted to $696.7 billion, showing a marginal increase from the prior month [2] - Fixed income AUM reached $437 billion, also reflecting a slight increase from the previous month [2] - Alternative AUM rose nearly 1% to $272 billion [2] - Multi-asset AUM was reported at $200 billion, up 1.2% from November 2025 [2] - Cash management balance increased slightly to $76.5 billion [2] Company Performance and Market Position - December showed improvement for BEN, with total AUM growth supported by long-term net inflows, despite outflows at Western Asset Management [3] - The firm’s strategic initiatives and partnerships are expected to support long-term growth, even with near-term flow fluctuations [3] - Over the past six months, BEN shares gained 2.5%, contrasting with a 6.4% decline in the industry [4]

Core Insights - AllianceBernstein L.P. and AllianceBernstein Holding L.P. reported a decrease in preliminary assets under management (AUM) to $865 billion in November 2025, down from $868 billion at the end of October 2025, primarily due to client outflows [1][2] Summary by Category Assets Under Management - AUM decreased by $3 billion from October to November 2025, with the decline attributed mainly to client outflows [1] - The breakdown of AUM as of November 30, 2025, includes: - Total Equity: $358 billion, down from $362 billion in October - Total Fixed Income: $313 billion, unchanged from October - Alternatives/Multi-Asset Solutions: $194 billion, up from $193 billion in October [2] Client Outflows - Client outflows were primarily concentrated within Institutional clients, with modest outflows in Retail and slight outflows from Private Wealth [1]

Core Insights - Invesco Ltd. reported preliminary month-end assets under management (AUM) of $2,154.3 billion, reflecting a decrease of 0.6% compared to the previous month [1] - The firm experienced net long-term inflows of $3.4 billion during the month, while non-management fee earning net outflows were $1.1 billion and money market net outflows totaled $10.6 billion [1] - AUM was negatively affected by unfavorable market returns, which decreased AUM by $4 billion, although foreign exchange (FX) contributed positively, increasing AUM by $0.6 billion [1] AUM Breakdown - As of November 30, 2025, the total AUM was $2,154.3 billion, with specific categories as follows: - ETFs & Index Strategies: $628.0 billion - Fundamental Fixed Income: $309.7 billion - Fundamental Equities: $299.2 billion - Private Markets: $129.7 billion - China: $125.7 billion - Multi-Asset/Other: $68.7 billion - Liquidity: $190.3 billion - QQQ: $403.0 billion [2] Historical AUM Comparison - AUM figures for previous months were: - October 31, 2025: $2,166.6 billion - September 30, 2025: $2,124.8 billion - August 31, 2025: $2,063.6 billion [2] Reclassification of Assets - Approximately $15 billion in India-based assets under management were reclassified to Multi-Asset/Other prior to the sale of Invesco's majority interest in October 2025, at which point these assets were removed from AUM [3] Company Overview - Invesco Ltd. is a leading global asset management firm with over 8,300 employees serving clients in more than 120 countries, managing $2.1 trillion in assets as of September 30, 2025 [4]

Core Insights - Invesco Ltd. reported preliminary month-end assets under management (AUM) of $2,166.6 billion, reflecting a 2.0% increase from the previous month [1] - The firm experienced net long-term inflows of $8.0 billion during the month, with non-management fee earning net inflows of $6.6 billion and money market net inflows of $11.1 billion [1] - AUM was positively influenced by favorable market returns, which contributed an increase of $38 billion, while foreign exchange effects decreased AUM by $6.2 billion [1] - The completion of the sale of Invesco's majority interest in their India asset management business resulted in a decrease of AUM by $15.6 billion [1] - The preliminary average total AUM for the quarter ending October 31 was $2,156.0 billion, with an average active AUM of $1,128.6 billion [1] AUM Breakdown - As of October 31, 2025, total AUM was $2,166.6 billion, with specific categories as follows: - ETFs & Index Strategies: $621.4 billion - Fundamental Fixed Income: $309.4 billion - Fundamental Equities: $301.5 billion - Private Markets: $129.9 billion - China: $125.2 billion - Multi-Asset/Other: $68.1 billion - Global Liquidity: $200.3 billion - QQQ: $410.8 billion [2] - AUM figures for September 30, 2025, were $2,124.8 billion, indicating a month-over-month increase [2] - The AUM for August 31, 2025, was $2,063.6 billion, showing a consistent upward trend [2] Company Overview - Invesco Ltd. is a leading global asset management firm with over 8,300 employees serving clients in more than 120 countries [3] - The firm manages approximately $2.1 trillion in assets as of September 30, 2025, offering a comprehensive range of active, passive, and alternative investment capabilities [3]

Core Viewpoint - Lazard, Inc. reported preliminary assets under management (AUM) of approximately $258.4 billion as of August 31, 2025, reflecting a combination of market appreciation, foreign exchange appreciation, and net outflows [1] Summary by Category Assets Under Management - As of August 31, 2025, Lazard's AUM totaled approximately $258.4 billion, which included market appreciation of $2.7 billion and foreign exchange appreciation of $2.2 billion [1] - The AUM also experienced net outflows of $0.2 billion during the month [1] Breakdown of AUM - The AUM breakdown as of August 31, 2025, is as follows: - Equity: $202,509 million - Fixed Income: $46,877 million - Other: $8,982 million - For comparison, the AUM figures for July 31, 2025, were: - Equity: $198,773 million - Fixed Income: $45,980 million - Other: $8,900 million [1]