Thursday, September 2, 2021

AllianceBernstein Thriving On AUM Growth And Mix

 

In a healthy market for asset managers, AllianceBernstein (AB), continues to stand out in a positive way, with a better than 35% total return since my last update that compares pretty well to peers like Artisan (APAM), BlackRock (BLK), Franklin Resources (BEN), and T. Rowe Price (TROW). This solid performance has not only been driven by a generally cooperative market, but also AB’s own strategies to drive growth in assets under management (or AUM) and improve the fee mix.

I really don’t see a reason to get off this strong horse at this point. While the valuation isn’t quite the bargain it once was, I still see the prospect of double-digit total annualized long-term returns here, and I think there’s more AB can do to grow the business. Management has been actively remixing AUM toward active equity and alts, and I believe there’s more to come both organically and through M&A.

 

Follow this link to the full article: 

AllianceBernstein Thriving On AUM Growth And Mix

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