AllianceBernstein reports preliminary AUM $829B as of July 31

AllianceBernstein (AB) announced that preliminary assets under management remained unchanged at $829B at the end of July compared to June month-end, as market gains were offset by net outflows during the month. Outflows were primarily concentrated within institutions due to approximately $4B net outflows related to the completion of the EQH-RGA reinsurance transaction. Excluding the impact from the transaction, preliminary institutional net flows were slightly negative, as were retail net flows, while private wealth posted roughly flat net flows.