AllianceBernstein today reported that its total assets under management were $407.3 billion as of June 30, 2012, down 2.8% from March 31, and down $53.7 billion, or 11.7%, compared to June 30, 2011.
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The firm also reported “improved” net outflows in its institutions channel of $3.7 billion, compared to net outflows of $12.9 billion in the first quarter. Institutions gross sales increased 47% to $5.6 billion from the prior quarter's $3.8 billion.
Its retail channel experienced second quarter net inflows of $3.5 billion, up from the prior quarter's $2.3 billion. However, retail gross sales declined 7% to $11.9 billion from $12.9 billion in the first quarter.
