Market surge boosts AUM at AllianceBernstein

• NYSE:AB end of July AUM of $492B vs. $490B a month earlier, with the increase entirely thanks to market appreciation as net outflows hit all three client channels.
• There were $6.3B of retail outflows for the month, plus another $400M from Private Wealth Management resulting from the end of the company's 529 program with Rhode Island.
• There was also $1.1B of Institutional outflows thanks to AIG as the insurer significantly reduced hedge fund exposure and began managing alternative assets in-house.