AllianceBernstein's [profile] assets under management rose last month, despite what the firm called "modestly negative" net flows.

Today the New York City-based asset manager revealed in its monthly AUM update that its AUM rose 2.1 percent last month to $444 billion thanks mostly to market appreciation. The S&P 500 rose 4.9 percent in July.

"Net inflows to Institutions more than offset outflows from Retail and Private Client," AllianceBernstein's update reads.

Of that $444 billion on July 31, 51 percent was from the institutional channel, 33 percent from retail and 15 percent from private client. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE