NASHVILLE - AllianceBernstein L.P. (NYSE: NYSE:AB), a global investment management firm, reported a rise in assets under management (AUM) to $725 billion at the end of December 2023, marking a 4% increase from the $696 billion recorded at the end of November. According to the company, the growth was primarily due to market appreciation, despite experiencing slight net outflows across the firm.
The firm's AUM composition as of December 31, 2023, included increases in both equity and fixed income assets. Equity assets totaled $310 billion, up from $296 billion at the end of November. Within this category, actively managed equity assets accounted for $247 billion, while passive equity assets were at $63 billion. Fixed income assets rose to $281 billion from $270 billion, with taxable fixed income assets constituting $209 billion and tax-exempt fixed income assets at $61 billion.
AllianceBernstein's alternative and multi-asset solutions also saw an increase, reaching $134 billion in AUM, up from $130 billion the previous month. By client channel, the company reported flat net flows for its Institutions and Retail channels, while the Private Wealth segment experienced minimal net outflows.
AllianceBernstein, a leading investment management firm, serves institutional investors, individuals, and private wealth clients worldwide. The company is owned approximately 39.5% by AllianceBernstein Holding and approximately 61.2% by Equitable Holdings (NYSE:EQH), Inc. and its subsidiaries.
The information in this report is based on a press release statement by AllianceBernstein and reflects the company's financial status as of December 31, 2023.
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