The first quarter of 2019 wasn’t a particularly easy one for asset managers, AllianceBernstein Holding L.P. (AB) included, and this asset manager’s roughly 3% decline since my last update puts on the slightly below-average end of the scale over that period, though it remains one of the leaders in its peer group over the past year (a period in which many rivals are down 10% or more).
First quarter results weren’t great in absolute terms, nor relative to expectations, but long-term trends remain positive, as AB continues to see strong retail inflows, healthy