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AllianceBernstein assets rise 0.7 percent in May

By Associated Press
June 10, 2008 | Comments (0)

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Investment manager AllianceBernstein Holding LP said Tuesday assets under management increased 0.7 percent in May.

AllianceBernstein had about $772 billion in assets under management as of May 31, compared with $767 billion on April 30.

Asset growth was due mostly to improvement in equity investment returns and net inflows of new cash. Total equity assets under management increased to $547 billion in May from $543 billion a month earlier.

Fixed income assets declined $2 billion to $201 billion, while index and structured assets rose to $24 billion from $21 billion.

Shares of AllianceBernstein rose 52 cents to $64 in morning trading.

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