Market Gains and Inflows Drive AllianceBernstein's AUM Growth in 2Q; No Change to $23 FVE
There was little in narrow-moat AllianceBernstein's second-quarter results that would alter our long-term view of the firm. We are leaving our $23 per share fair value estimate in place. The company closed out the June quarter with $516.6 billion in total assets under management, up 3.8% sequentially and 5.5% on a year-over-year basis. Second-quarter net inflows of $4.7 billion were in line with our forecast, which was based in part on an active institutional pipeline of $4.2 billion at the end ...AllianceBernstein Holding provides research, investment management and related services to a range of clients. The company's principal services include: institutional, which services institutional clients, including private and public pension plans, foundations and endowments, insurance companies, and central banks and governments; retail, which services retail clients, primarily by means of retail mutual funds; private wealth management, which services private clients, including high-net-worth individuals and families, trusts and estates, and partnerships; and Bernstein research services, which services institutional investors, such as pension fund, and hedge fund and mutual fund managers.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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