AllianceBernstein October Assets Under Management $499B

AllianceBernstein L.P. and AllianceBernstein Holding L.P. AB today announced that preliminary assets under management increased to $499 billion from $484 billion during October 2010. The 3.1% increase was due to positive investment returns and the addition of $8.0 billion of assets from the previously announced acquisition of SunAmerica's alternative investment group, partially offset by net asset outflows, mainly from institutional accounts. Included in this month's asset flows was a $2.9 billion inflow to a non-actively managed affiliated account which generates substantially lower fees than other similar accounts.