AB - AllianceBernstein AUM down 1.8% in December due to market depreciation

January, 11 2023 04:32 PM Alliance Bernstein Holding L.P. Units

AllianceBernstein ( NYSE: AB ) said Wednesday its preliminary assets under management slipped 1.8% sequentially to $646B at the end of December, hurt by market depreciation.
By channel, institutions generated net inflows, private wealth was flat and retail posted net outflows.
AllianceBernstein ( AB ) experienced inflows to low-fee customized retirement strategies platform of $6.4B in December.
Financial markets were on the decline last month as fears of a recession and the Federal Reserve's increasingly hawkish tone triggered a selloff.
Earlier, AllianceBernstein ( AB ) AUM climbed 4.9% in November, driven by market gains .

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Company Name:	Alliance Bernstein Holding L.P. Units
Stock Symbol:	AB
Market:	NYSE
Website:	alliancebernstein.com