Although investors at Alliance Capital Management may have changed their taste in investment styles during the past year, the firm reported today that its assets under management changed little during that period.

Alliance said today its assets under management fell 0.7% between November and December of last year. As of the end of last month, the firm oversaw $455 billion compared to $458 billion in November.

But assets increased 0.2% during the calendar year ended Dec. 31 from $454 billion in December of 2000.

Investors, meanwhile, shifted their focus from growth equity funds to fixed-income and value products, the firm said. Assets in growth equity funds declined 11.6% while value equity assets rose 11% and fixed-income assets increased 13.1%

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