AllianceBernstein L.P. (“AB”) and AllianceBernstein Holding L.P. (“AB Holding”) (NYSE: AB) today reported financial and operating results for the quarter ended March 31, 2017.
“The year got off to a strong start, as global equity markets rallied in the first quarter and fixed income momentum continued around the world,” said Peter S. Kraus, Chairman and Chief Executive Officer. “Our equity investment performance improved markedly, our total AUM increased by 4% year-over-year, our total gross sales of $19.0 billion were up 23% - driven by multi-year high Retail sales - and adjusted net revenues increased by nearly 6%. We also again demonstrated operating leverage, by producing a 55% incremental adjusted operating margin.”
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