Yahoo Finance AllianceBernstein (AB) Stock Down as April AUM Declines 6.8%
AllianceBernstein Holding L.P. AB announced assets under management (AUM) for April 2022. The company’s preliminary month-end AUM of $685 billion declined 6.8% from the end of March 2022. Market depreciation and total firm-wide net inflows resulted in the fall.
Shares of the company have tanked 6.4% since the announcement of the news.
At the end of April, AllianceBernstein’s Equity AUM declined 8.8% sequentially to $302 billion. Alternatives/Multi-Asset Solutions AUM (including certain multi-asset services and solutions) was down 5.4% to $105 billion. Further, Fixed Income AUM was $278 billion, which witnessed a 5.1% fall from the end of March 2022.
In terms of channel, month-end Institutions AUM of $305 billion declined 6.4% from the previous month. Retail AUM was $270 billion, which decreased 7.5% from the prior-month end, while Private Wealth AUM fell 6% to $110 billion.
AllianceBernstein’s global reach and solid AUM balance are likely to keep boosting top-line growth. Yet, unfavorable market performance remains a drag.
Over the past year, shares of the company have lost 14.4% compared with a 30% decline of the industry.
Image Source: Zacks Investment Research
Currently, AllianceBernstein carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
Franklin Resources, Inc. BEN announced its preliminary AUM for April 2022. BEN's month-end AUM of $1,455.8 billion marked a 1.5% decline from the previous month’s tally.
Franklin's AUM was affected by the negative impacts of the markets and long-term net outflows. This was partly offset by the acquisition of Lexington Partners.
Invesco’s IVZ preliminary AUM for April 2022 of $1,476.1 billion represented a 5.1% decline from the prior month-end levels. The company recorded net long-term outflows of $1.3 billion. Non-management fee-earning net outflows were $1.4 billion and money market net inflows were $15.2 billion. Foreign exchange rate movements dented the AUM balance by $13.2 billion.
For the month, IVZ’s AUM was negatively impacted by unfavorable market returns, declining $79 billion. Reinvested distributions increased AUM by $0.1 billion.
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