The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:This $538B AUM Shop's Sales Mix Diversity Is Rising Not Rated 5.0 Email Routing List Email & Route  Print Print
Thursday, February 14, 2019

This $538B AUM Shop's Sales Mix Diversity Is Rising

Reported by Neil Anderson, Managing Editor

2018 was a tough year for asset managers, but for a certain publicly traded asset manager, only its institutional channel really took a hit.

Seth P. Bernstein
President, CEO
"Our sales mix across channels was our most diverse in years," Seth Bernstein, president and CEO of AllianceBernstein (AB [profile]), told analysts on AB's Q4 2018 earnings call yesterday morning, as transcribed by Seeking Alpha. "Our full year results reflect the differentiation of our revitalized active equity platform, which attracted $10.8 billion in net new flows, and our ability to continue scaling and commercializing the business."

On the good news side for the AB team, gross sales rose 19 percent to $93.8 billion for 2018. In a year when market woes and the shift to passive continued to hit active managers, AB kept retail net flows flat, while its growing private wealth management channel had $1.9 billion in net inflows. And equity strategies brought in $10.6 billion in net inflows for the year. Operating margin clocked in at23.9 percent last, up from 21.7 percent in 2017.

"We have really spent a lot of time and effort creating a product suite that speaks to our clients," Bernstein said later in the call, in response to a question from an analyst. "We had 16 services, equity services with net flows greater than $250 million last year ... Additionally, we have been as you know, been investing in optimizing our U.S. and EMEA sales force." Yet net institutional outflows of $10 billion drove firmwide outflows of $8.1 billion for the year. Fixed income strategies suffered $18.9 billion in net outflows for the year.

Yesterday morning before the call, the AB team reported Q4 2018 diluted earnings of $0.64 per unit, in line with expectations, while Q4 2018 revenue of $804.66 million beat expectations by $90.36 million. AUM fell 6.9 percent year-over-year to $516.4 billion on December 31, 2018, though last month AUM rose 4.26 percent to $538 billion on January 31, 2019. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2021: Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

  1. MFDF Director Discussion Series - Open Forum via Zoom (Midwest), March 10
  2. FinReg Outlook 2021, March 10
  3. Irish Funds North American Digital Seminar, March 11
  4. MFDF webinar - Municipal and Taxable Fixed Income — A Multi-Speed Recovery, March 12
  5. 2021 Virtual Mutual Funds and Investment Management Conference, Mar 15-19
  6. Women for Impact - A Call to Action, March 16
  7. SEC & DOL Standard of Conduct Rulemakings — Present & Future Considerations, March 23
  8. Expect Miracles Foundation's Virtual Mystery Game Night, March 24
  9. MFDF Director Discussion Series - Open Forum via Zoom, March 24
  10. ETFGI Global ETFs Insights Summit - ESG & Active ETF Trends, Mar 24-25
  11. MFDF webinar - Asset Management M&A for Fund Directors — Recent Trends and Governance Issues, March 31
  12. MFDF Director Discussion Series - Open Forum via Zoom, April 7
  13. MFDF In Focus: Board Oversight of Sub-advisers, April 15
  14. ETF.com Awards 2020, April 20
  15. The 31st Sub-Advised Funds Forum, Apr 20-21
  16. MFDF Director Discussion Series - Open Forum via Zoom (Northeast), April 21
  17. FIASI virtual event - ESG in Fixed Income: Shining a Light on Transparency, Apr 22-23
  18. 44th Annual AIMSE Marketing & Sales Conference, May 2-4
  19. MFDF Director Discussion Series - Open Forum via Zoom (Southeast), May 5
  20. ICI 2021 General Membership Meeting - Day 1, May 6
  21. ICI 2021 General Membership Meeting - Day 2, May 13
  22. 2021 FINRA Annual Conference, May 18-20
  23. MFDF Director Discussion Series - Open Forum via Zoom, May 19
  24. 2nd annual ETFGI Global ETFs Insights Summit - USA, May 19-20
  25. Irish Funds Online Annual Global Funds Conference 2021, May 19-20
  26. MFDF webinar - Fund Director Compensation: MPI Annual Survey (2021), May 20

©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use