UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): | June 11, 2018 |
ALLIANCEBERNSTEIN L.P. |
(Exact name of registrant as specified in its charter) |
Delaware | 000-29961 | 13-4064930 |
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification Number) |
1345 Avenue of the Americas, New York, New York | 10105 |
(Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: | 212-969-1000 |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 under the Securities Act (17 CFR 230.405) or Rule 12b-2 under the Exchange Act (17 CFR 240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01. Regulation FD Disclosure.
AllianceBernstein L.P. (“AB”) and AllianceBernstein Holding L.P. (“AB Holding”) are furnishing a news release (“AUM Release”) issued on June 11, 2018 announcing AB’s preliminary assets under management as of May 31, 2018. The AUM Release is attached hereto as Exhibit 99.01.
Item 9.01. Financial Statements and Exhibits.
(d) | Exhibits. |
99.01 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
ALLIANCEBERNSTEIN L.P. | |||
Dated: June 12, 2018 | By: | /s/ David M. Lesser | |
David M. Lesser Corporate Secretary | |||
 | Andrea Prochniak, Investors 212.756.4542 andrea.prochniak@AllianceBernstein.com | Jonathan Freedman, Media 212.823.2687 jonathan.freedman@AllianceBernstein.com |
AB Announces May 31, 2018 Assets Under Management
New York, NY, June 11, 2018 - AllianceBernstein L.P. (“AB”) and AllianceBernstein Holding L.P. (“AB Holding”) (NYSE: AB) today announced that preliminary assets under management increased to $541 billion during May 2018 from $538 billion at the end of April. The 0.6% increase was due to market appreciation and total firmwide net inflows. By channel, net inflows to Institutions and Private Wealth were partially offset by net outflows from Retail.
AllianceBernstein L.P. (The Operating Partnership) | |||||||||||||||||||||
Assets Under Management ($ in Billions) | |||||||||||||||||||||
At May 31, 2018 | At Apr 30 | ||||||||||||||||||||
2018 | |||||||||||||||||||||
Private | |||||||||||||||||||||
Institutions | Retail | Wealth | Total | Total | |||||||||||||||||
Equity | |||||||||||||||||||||
Actively Managed | $ | 36 | $ | 62 | $ | 49 | $ | 147 | $ | 144 | |||||||||||
Passive | 22 | 31 | — | 53 | 52 | ||||||||||||||||
Total Equity | 58 | 93 | 49 | 200 | 196 | ||||||||||||||||
Fixed Income | |||||||||||||||||||||
Taxable | 149 | 69 | 11 | 229 | 231 | ||||||||||||||||
Tax-Exempt | 1 | 16 | 24 | 41 | 41 | ||||||||||||||||
Passive | — | 9 | 1 | 10 | 9 | ||||||||||||||||
Total Fixed Income | 150 | 94 | 36 | 280 | 281 | ||||||||||||||||
Other(1) | 46 | 5 | 10 | 61 | 61 | ||||||||||||||||
Total | $ | 254 | $ | 192 | $ | 95 | $ | 541 | $ | 538 | |||||||||||
At April 30, 2018 | |||||||||||||||||||||
Total | $ | 253 | $ | 191 | $ | 94 | $ | 538 | |||||||||||||
(1) Includes certain multi-asset services and solutions and certain alternative investments. | |||||||||||||||||||||
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Cautions Regarding Forward-Looking Statements
Certain statements provided by management in this news release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. The most significant of these factors include, but are not limited to, the following: the performance of financial markets, the investment performance of sponsored investment products and separately-managed accounts, general economic conditions, industry trends, future acquisitions, competitive conditions, and current and proposed government regulations, including changes in tax regulations and rates and the manner in which the earnings of publicly-traded partnerships are taxed. AB cautions readers to carefully consider such factors. Further, such forward-looking statements speak only as of the date on which such statements are made; AB undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements. For further information regarding these forward-looking statements and the factors that could cause actual results to differ, see “Risk Factors” and “Cautions Regarding Forward-Looking Statements” in AB’s Form 10-K for the year ended December 31, 2017 and Form 10-Q for the quarter ended March 31, 2018. Any or all of the forward-looking statements made in this news release, Form 10-K, Forms 10-Q, other documents AB files with or furnishes to the SEC and any other public statements issued by AB, may turn out to be wrong. It is important to remember that other factors besides those listed in “Risk Factors” and “Cautions Regarding Forward-Looking Statements”, and those listed above, could also adversely affect AB’s financial condition, results of operations and business prospects.
About AllianceBernstein
AllianceBernstein is a leading global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets.
As of March 31, 2018, including both the general partnership and limited partnership interests in AB, AB Holding owned approximately 35.8% of AB and AXA, a worldwide leader in financial protection, owned an approximate 64.4% economic interest in AB.
On May 10, 2018, AXA Equitable Holdings, Inc. (NYSE: EQH) publicly listed approximately 24.5% of its outstanding shares at $20.00 per share. The IPO and related transactions have resulted in an increase in the percentage of ownership in AB held by AXA Equitable Holdings and a decrease in AXA’s ownership percentage in AB, as well as a decrease in AXA’s ownership percentage in AXA Equitable Holdings. AXA’s ownership percentage in AXA Equitable Holdings is expected to decrease further in the future, but the degree and timing of such further decrease is not certain.
Additional information about AB may be found on our website, www.alliancebernstein.com.
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