AllianceBernstein L.P. and AllianceBernstein Holding L.P. AB announced that preliminary assets under management fell to $467 billion from $482 billion during August 2010.
The 3.1% decline was due to negative equity investment returns and net asset outflows, mainly from institutional accounts. Half of the institutional outflows were from a non-actively managed account which generates substantially lower fees than other such accounts.
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