Shares of AllianceBernstein rose 3.3% following first-quarter results, with the market responding favorably to the announced Equitable–Corebridge merger and emerging AUM growth channels. Investors appeared to look past net outflows in legacy active strategies, focusing instead on strategic asset management partnerships and pipeline strength.
- The proposed merger with Corebridge is expected to add over $350 billion in general account assets and generate $70–$80 billion of new liabilities annually; AB expects to manage at least $100 billion from Corebridge over time.
- Firm-wide active net outflows were approximately $6 billion, driven by $11 billion in active equity outflows and nearly $2 billion in taxable fixed income outflows, notably from retail clients in Asia Pacific.
- Offsetting these, tax-exempt fixed income and alternatives multi-asset strategies both saw over $3 billion of organic inflows; private markets AUM reached $85 billion, up 13% year-over-year.
- The SMA business grew at an annualized 15% rate in Q1, reaching $63 billion in AUM; active ETF AUM surpassed $16 billion, up over 150% year-over-year.
- Management highlighted a record institutional pipeline exceeding $27 billion in AUM, with expectations for accelerating net flows in the second half of 2026.
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