AllianceBernstein Holding L.P. Announces Second Quarter Results prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
Share this article Share this article NEW YORK, April 29, 2021 /PRNewswire/ AllianceBernstein L.P. ( AB ) and AllianceBernstein Holding L.P. ( AB Holding ) (NYSE: AB) today reported financial and operating results for the quarter ended March 31, 2021. Our globally diversified platform continued to drive balanced and consistent organic growth, in a dynamic market environment, said Seth P. Bernstein, President and CEO of AllianceBernstein. We generated active net inflows of $6.5 billion, or 4% annualized organic growth. Aligned with our firm strategy, net inflows across all three client channels were driven by strength in active equities (including ESG), alternatives, and municipals. Our investment teams delivered improved near-term fixed income performance and solid long-term performance on behalf of our clients, with over 65% of both fixed income and equity assets outperforming on a 5-year basis. Coupled with tight expense management and continued COVID-19 related cost savings, our operating margin expanded to 31.7%, up 410 basis points year-over-year. First quarter earnings and distributions to Unitholders grew by 27% year-over-year.
Share this article Share this article NEW YORK, Feb. 11, 2021 /PRNewswire/ AllianceBernstein L.P. ( AB ) and AllianceBernstein Holding L.P. ( AB Holding ) (NYSE: AB) today reported financial and operating results for the quarter and year ended December 31, 2020. Despite facing unprecedented global challenges in 2020, our firm s diversified platform continued its growth trajectory, said Seth P. Bernstein, President and CEO of AllianceBernstein. Our talented people remained fully invested in helping our clients reach their financial goals. Strength in active equities, including ESG, helped drive full year active net inflows of $14.9 billion, or a 3% active organic growth rate, excluding expected low-fee AXA redemptions of $11.8 billion. Supported by a robust recovery in financial markets from March lows, our AUM grew to $686 billion, up 10% from the prior year. We accelerated important strategic investments to develop high quality differentiated services in Asia, alternatives, and multi-asset, as well as investments in technology, while managing costs. While most Covid-19 related cost savings are unlikely to be sustained, full year adjusted operating margin grew by 260 basis points to 30.1%, exceeding our 2020 adjusted operating margin target. Earnings and unitholder distributions grew by 15% year-over-year.