Latest news with #AllianceBernstein
Yahoo
3 hours ago
- Business
- Yahoo
AB to Report Second Quarter 2025 Results on July 24, 2025
NASHVILLE, Tenn., July 3, 2025 /PRNewswire/ -- AllianceBernstein L.P. and AllianceBernstein Holding L.P. (NYSE: AB) today announced that Second Quarter 2025 financial and operating results will be released before the market opens on Thursday, July 24, 2025. Management will conduct a teleconference beginning at 9:00 am (CT), to discuss the results. The call will be hosted by Seth Bernstein, President and Chief Executive Officer; Thomas Simeone, Chief Financial Officer; and Onur Erzan, Head of Global Client Group and Private Wealth. Parties may access the conference call by either webcast or telephone: To listen by webcast, please visit AB's Investor Relations website at at least 15 minutes prior to the call to download and install any necessary audio software. To listen by telephone, please dial (888) 440-3310 in the U.S., or +1 (646) 960-0513 from outside the US, 10 minutes before the 9:00 am (CT) scheduled start time. The conference ID# is 6072615. The presentation that will be reviewed during the conference call will be available on AB's Investor Relations website shortly after the release of our Second Quarter 2025 financial and operating results on July 24, 2025. A replay of the webcast will be made available beginning approximately one hour after the completion of the conference call on July 24, 2025. About AllianceBernstein AllianceBernstein is a leading global investment management firm that offers high-quality diversified investment services to institutional investors, individuals and private wealth clients in major world markets. As of March 31, 2025, including both the general partnership and limited partnership interests in AllianceBernstein, AllianceBernstein Holding owned approximately 37.5% of AllianceBernstein and Equitable Holdings, Inc. ("EQH"), directly and through various subsidiaries, owned an approximate 61.9% economic interest in AllianceBernstein. Additional information about AB may be found on our website, View original content: SOURCE AllianceBernstein Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
2 days ago
- Business
- Business Insider
How AI is speeding up the slow investing game
It took an AllianceBernstein healthcare analyst just one afternoon to analyze what would have once taken her months: the potential impact of President Donald Trump's "Big, Beautiful Bill" on specific drugs and insurance plans across state lines. Andrew Chin, the firm's chief artificial intelligence officer, said the analyst used one of the $790 billion asset manager's in-house tools to quickly interpret the legislation and identify which companies would be affected, allowing her to make a fast, confident investment call. "Because she was able to do that, she was able to make money for our client portfolios a lot faster," said Chin, adding that the analyst "locked in some of the alpha" in a way that was not previously possible. Fundamental investors take a slow and methodical approach to their investment decisions. Whether reviewing financial statements or talking to vendors and company executives, it can take months for a fundamental investor to reach a conclusion about what to invest in and at what price. Not anymore. Artificial intelligence is changing the slow investing game popularized by investors like Warren Buffett of Berkshire Hathaway and Peter Lynch of Fidelity. While asset managers have long used machine learning to crunch spreadsheets and detect trading signals—especially in quant and systematic strategies— these tools can also quickly digest and analyze vast reams of unstructured information, like earnings call transcripts, regulatory filings, and even emails. It's allowing large asset managers to make fundamental investing decisions faster than ever before. Here are three firms that are using AI to transform their investment processes: JPMorgan Asset Management Two and a half years ago, JPMorgan Asset Management AI strategist Dillon Edwards sat down with upward of 50 portfolio managers to understand what they needed. He asked them about the screens they use, the questions they ask themselves throughout the day, and the common thread was, "Just get our attention to the right data, at the right time, in the right place." That request led to the creation of Smart Monitor, which Edwards described as "Spotify for the investor." It scans mountains of data to surface timely, relevant insights for the firm's portfolio managers and analysts. Smart Monitor is part of JPMorgan's broader AI build-out for its $3.7 trillion asset management arm, which is hosted on a platform called Spectrum. Another tool within this platform is Moneyball, which helps portfolio managers identify and correct potential biases in their investment decisions by analyzing historical data and market behaviors. Rather than building something new for investors to learn, Edwards and his team focused on AI directly into the process that investors have spent years perfecting. The bottom-up approach has helped to minimize AI skeptics: A handful of "champion" PMs worked closely with engineers during development and became in-house unofficial salespeople who market it to their own teams. "No one wants another tool, another thing to do, something that the AI team somehow thinks is going to be helpful for an investor without empathizing with what they're doing today," he said. Kristian West, JPMorgan Asset Management's head of investment platform, said the firm is also developing similar tools with the goal of seeing if they can continue to scale the quantitative process, or data-driven systematic investing. "That's an area where we think it is just pretty obvious, whereas technology and data capabilities improve, those two worlds collide a lot more," he said. Alliance Bernstein For fundamental investors—portfolio managers and analysts who base long-term decisions on a deep understanding of individual companies—this marks a turning point: a chance to move faster and dig deeper, but also a moment to rethink how they work. Chin calls this evolution the rise of the "iron person": a human investor enhanced by AI armor. Not a replacement, but an upgrade. AB has developed an internal chatbot called AB AI, along with several tools to help pull from internal data, prep for company meetings, or conduct research tailored to the manager's investment philosophy. Chin said that many AB analysts often develop their own AI agents using ChatGPT or Microsoft Copilot with specific prompts to, for example, run an analysis on the companies in their sector after an earnings call. "They're able to then analyze companies the way they want to, so they get a more tailored or customized version of what the tool can provide them," he said. Chin said about 75% of the firm's over 500 investment professionals are using their tools. People sharing stories like "it takes me a day rather than a month to do something, or I was able to get this insight that I did not get before," have driven others to try it, said Chin. For the remaining 25% who haven't picked up AI, he believes they "will just naturally come when they see the performance of their counterparts has gotten better." BlackRock A big reveal from BlackRock's investor day last month shows just how fast the field is moving. The $11 trillion investing behemoth has launched Asimov, an agentic AI platform for its fundamental equity business. Agentic AI doesn't just answer questions following prompts — it can take action on its own. "While everyone else is sleeping at night, we have these virtual AI agents, they're scanning research notes, company filings, emails to generate portfolio insights," the firm's chief operating officer, Robert Goldstein, said. He hopes Asimov will be deployed across the firm by the next investor day, offering investors at the world's biggest asset manager a powerful teammate. Raffaele Savi, its global head of systemic investing, underscored how significantly AI is affecting the investing world. The speed and power of having "real-time, millions of stimulations a day happening in the background, developing situational awareness" that helps ensure the portfolio reflects the manager's intentions are "profound." "The world has changed tremendously," he said.
Yahoo
6 days ago
- Business
- Yahoo
Goldman Sachs turns bullish on select asset managers, upgrades BEN, AMG
-- Goldman Sachs has turned bullish on select traditional asset managers, upgrading Franklin Resources (NYSE:BEN) and Affiliated Managers Group (NYSE:AMG) to Buy, citing improving organic growth prospects and compelling valuations. The bank also shifted its view on AllianceBernstein (NYSE:AB) and WisdomTree, Goldman Sachs said in a note published Monday. 'We upgrade BEN to Buy from Neutral with a 12-month price target of $29,' wrote Goldman analysts, pointing to the company's growing alternatives platform and 'moderating outflows from Traditional products leading to a break-even organic base fee growth.' The note also highlighted cost reductions at Western Asset and projected BEN's EPS growth to accelerate to 8% CAGR through 2027. At 9x 2026E P/E, Goldman believes the improvement 'is yet to be fully captured in the stock's valuation.' Affiliated Managers Group also earned an upgrade to Buy, with Goldman citing 'an inflection in organic base fee growth' driven by AQR platform flows and sustained momentum in private markets. The firm raised its price target on AMG to $218, projecting 7% annual core EBITDA growth in 2026–27. 'We see runway to high-single-digit total EBITDA growth,' Goldman added. Meanwhile, AllianceBernstein was downgraded to Neutral, with Goldman noting signs of slowing growth in both equities and fixed income. 'We see limited scope for the stock to outperform,' analysts wrote. WisdomTree was upgraded to Neutral from Sell, with analysts citing 'broadening out and acceleration of flows' and a more stable fee trajectory. Goldman raised its price target to $11.90, expecting mid-to-high single-digit organic base fee growth through 2027. Related articles Goldman Sachs turns bullish on select asset managers, upgrades BEN, AMG Microsoft and Nvidia lead the charge toward $4 trillion market cap: Wedbush TotalEnergies acquires 25% stake in Block 53 offshore Suriname from Spain's Moeve
Yahoo
26-06-2025
- Business
- Yahoo
NYC's Bond Investors Calm Wall Street Anxiety Over Mamdani Rise
(Bloomberg) -- New York City mayoral hopeful Zohran Mamdani has rattled Wall Street with his plans to raise taxes on the rich, freeze rents and boost spending to pay for free childcare and education at the city's public universities. US Renters Face Storm of Rising Costs US State Budget Wounds Intensify From Trump, DOGE Policy Shifts Mapping the Architectural History of New York's Chinatown Squeezed by Crowds, the Roads of Central Park Are Being Reimagined Commuters Are Caught in Johannesburg's Taxi Feuds as Transit Lags Still, bond investors are tempering concerns for now. That's because many of Mamdani's core polices — like hiking levies on corporations, providing free bus service and borrowing an additional $70 billion for affordable housing — are outside of his direct jurisdiction, requiring approval from state or local leaders that have a range of ideologies. 'While he has big plans, the practical realities of governance, legal constraints, market reactions, and political opposition are likely to temper the extent to which his agenda can be realized and, therefore, limit the fallout such full realization would have on credit quality,' said Richard Schwam, a municipal credit analyst at AllianceBernstein Holding LP, which holds New York City bonds. There's also the general election in November where Mamdani, who is poised to win the Democratic nomination for mayor, will have to beat Republican and Independent candidates, including current mayor Eric Adams. Those hurdles are limiting investors' concern that Mamdani's agenda will materially impact the city's credit quality. Plans for aggressive new debt or drastic fiscal changes could spark concern over ratings downgrades or higher borrowing costs. The risk premium on New York City's debt barely budged following the election results. Spreads on the city's general obligation bonds maturing in 10 years widened by 2 basis points Wednesday, according to data compiled by Bloomberg. The city, which spends about $7.7 billion annually for debt service, had about $104 billion of outstanding debt as of June 30, 2024. Not all markets were as placid. Shares of companies linked to real estate in the city fell on the same day as analysts fear Mamdani's agenda could stifle corporate investment and hiring, reducing demand for office leasing. Meanwhile, a rent-freeze may force property owners to put off maintenance, hastening disrepair. Budget Picture New York City and state are facing billions of dollars in federal spending cuts for programs like Medicaid, housing vouchers and food stamps, and their ability to keep funding those programs at current levels, much less spend more, will be challenging. The city also has to comply with a state law mandating smaller class sizes, which may require spending an additional $1.9 billion for teachers and billions more for new class rooms. 'The ideas of things like free city buses and lower cost housing are not free from a credit perspective because they have to be paid for,' said Dan Solender, head of municipals at Lord Abbett & Co. New York State Comptroller Thomas DiNapoli has warned that the state's high taxes may already be pushing wealthy residents out of the city, providing little wiggle room for the state to raise more revenue during an economic slowdown. 'While people and businesses do not flock to NYC because it is a tax haven, there could be a point where the tax burden is too much, resulting in businesses leaving and city revenues declining,' said Howard Cure, director of municipal bond research at Evercore Wealth Management. To be sure, New York City is becoming increasingly unaffordable for many residents and Mamdani's social-media driven campaign centered on reducing that burden. His website, branded with flashy signage, articulates a simple mission: 'Zohran Mamdani is running for Mayor to lower the cost of living for working class New Yorkers.' The message energized the electorate, particularly young people. Mamdani could harness that enthusiasm to put pressure on lawmakers. When former progressive Democratic Mayor Bill de Blasio took office in 2014, he proposed raising taxes on the rich to fund pre-kindergarten for four-year-olds. Former Governor Andrew Cuomo, who conceded the Democratic primary to Mamdani, successfully resisted a tax increase, but the state legislature agreed to fund the program without raising taxes. 'Investors should take comfort in the myriad of fiscal controls that are embedded into law to enforce fiscal discipline upon the city,' said Dora Lee, director of research at Belle Haven Investments --With assistance from Amanda Albright. How to Steal a House Inside Gap's Last-Ditch, Tariff-Addled Turnaround Push Apple Test-Drives Big-Screen Movie Strategy With F1 Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags America's Top Consumer-Sentiment Economist Is Worried ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
18-06-2025
- Business
- Bloomberg
Innovation Happening at Infrastructure Level: Qiu
Lei Qiu, CIO of Thematic Innovation Equities at AllianceBernstein, says the pace of innovation at the infrastructure level is picking up and there will be various winners in the AI supply chain going forward. She speaks to Bloomberg's Caroline Hyde and Ed Ludlow on 'Bloomberg Tech.' (Source: Bloomberg)
