AXAHY - AllianceBernstein AUM rises 6.5% in July on market appreciation acquisitions

• AllianceBernstein Holding ( NYSE: AB ) said its preliminary assets under management increased 6.5% during the month to $689B as of July 31, driven by market appreciation and its July 1 acquisition of CarVal investors.
• The increases were partly offset by firm-wide net outflows.
• By channel, net inflows to Private Wealth were offset by net outflows from Retail and Institutions.
• July month-end AUM reflected $1.7B of outflows resulting from AXA's ( OTCQX:AXAHY ) ( OTCQX:AXAHF ) ongoing redemption of certain low-fee fixed income mandates; some $2.3B remain outstanding and is expected to be redeemed by year-end.
• Previously (July 29), AllianceBernstein ( AB ) Q2 earnings reflected 'moderate' net outflows and market depreciation

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