AllianceBernstein reports preliminary AUM $839B as of March 31

AllianceBernstein (AB) reported that preliminary assets under management declined to $839B as of March 31, down from $880B at the end of February, driven primarily by market depreciation and, to a lesser extent, net outflows during March. During the month, modest net inflows in Private Wealth were offset by net outflows across Retail and Institutional channels. For the quarter ended March 31, preliminary firmwide net outflows totaled $7.2B.