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Rating:AllianceBernstein Builds AUM Year Over Year Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, May 05, 2010

AllianceBernstein Builds AUM Year Over Year

Reported by Daniel Tovrov

AllianceBerstein released its Q1 earnings Wednesday. For the period ended March 31, the company's total assets under management increased $5 billion from the previous quarter to $501 billion. Compared of the first quarter of 2009, AUM was up $90 billion.

Year-over-year, net income was up from $31.5 to $131.5 million. However, income was down nearly $60 compared to Q4 2009's $190 million net.

Net revenue for the first quarter added up to $725 million. Of that, $511 million came from base and performance fees. Revenue was down from the prior quarter, when AllianceBernstein took in $81.8 million in revenue, yet up from the Q1 of 2009 total of $597.5 million.

 

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