Ok. Call it a comeback.

Chief executive Peter Kraus appears to be turning things around at AllianceBernstein, according to James Comtois at Pensions & Investments.

Comtois notes that AB, whose assets dropped from $800.4 billion at year-end 2007 to as low as $405.9 billion four years late, has seen second quarter inflows of $8.3 billion. The firm's assets hit $480.2 billion.

The P & I writer attributes the turnaround to efforts to both broaden AB's investment capabilities and kicking up performance.

Indeed the firm has had an active 2014, launching suites of emerging market and bond products, as well as building up its alts team.

Comtois cites Kraus declaring during a phone interview that “we didn't abandon our core business. We stuck to our knitting, kept our head down and produced attractive returns.”

Kraus told Comtois that three years of underperformance took its toll on flows, but that many strategies have had 15 months of "very good performance." 

Edited by: Tommy Fernandez


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