I'm pleased with how AllianceBernstein Holding L.P. (AB) continues to perform. The units are up around 10% from when I last wrote about this company,
the yield remains quite attractive, and better still the company is
reporting improved revenue and profitability as decisions made years ago
by prior management start to pay off for the company.
AllianceBernstein isn't, and never will be, suitable for everybody. AXA (OTCQX:AXAHY)
owns a majority stake of the business and regular unitholders have
virtually no say in the operation of the business. Moreover, the
distributions from partnerships like this can have more complicated tax
treatment than regular dividends. Even so, I believe AllianceBernstein
is well-placed to continue bringing in assets under management and
leveraging its existing infrastructure to generate higher margins and
higher distributions for unitholders.
Read more here:
AllianceBernstein Reaping The Benefits Of Past Decisions
No comments:
Post a Comment