AllianceBernstein (AB) AUM Fell to $490M in Sept. 2016
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AllianceBernstein L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) announced that preliminary assets under management decreased to $490 billion during September 2016 from $496 billion at the end of August. The 1.2% decrease was the result of negative net flows from all three client channels, partly offset by market appreciation and newly acquired assets. The most significant driver of net flows was the remaining $6 billion in previously announced AIG outflows from our Institutions channel, the result of AIG's decision to significantly reduce its hedge fund exposure and manage its remaining alternative assets in-house. We also completed our acquisition of Ramius Alternative Solutions, LLC (RASL) during the month, which added $2.5 billion in Institutional assets.
AB (The Operating Partnership)
Assets Under Management ($ in Billions)
At September 30, 2016
At Aug 31
Total Fixed Income
At August 31, 2016
(1) Includes certain multi-asset services and solutions and certain alternative investments.
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Related EntitiesRamius Capital, Hedge Funds, Earnings, Definitive Agreement
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