The following is a summary of the AllianceBernstein Holding L.P. Limited Partnership Units (AB) Q3 2024 Earnings Call Transcript:

Financial Performance:

• AllianceBernstein reported a strong Q3 with net flows each quarter this year and surpassed $800 billion in assets under management.

• Adjusted operating margin in Q3 was 31.3%, up 330 basis points year-over-year.

• Third quarter adjusted earnings per unit of $0.77, up 19% versus the prior year, with a focus on margin improvement moving into 2025.

Business Progress:

• Demonstrated consistent organic growth across multiple quarters, particularly in active fixed income with $6 billion inflows.

• Expanded the private markets platform, including launching the AB CarVal Credit Opportunities Fund targeting retail markets.

• Engaging in scaling strategies and launching new products across various financial sectors including insurance and retail.

Opportunities:

• Positive market repositioning in fixed income and private markets, with ongoing initiatives in Asian markets and new product launches.

• Increased client RFP activity and organic growth potential across institutional and retail channels, supported by strategic partnerships such as with Equitable.

Risks:

• Elevated outflows in active equity strategies driven by concentrated institutional redemptions.

• Possible impacts from market and economic fluctuations affecting fee rates and investment outcomes.

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