AllianceBernstein Holding L.P (NYSE:AB) Q2 2022 Results Conference Call July 29, 2022 10:00 AM ET
Company Participants
Mark Griffin - Head, Investor Relations
Seth Bernstein - President and CEO
Bill Siemers - Controller and CAO
Kate Burke - Chief Operating Officer and Chief Financial Officer
Matt Bass - Head of Private Alternatives
Conference Call Participants
Alexander Blostein - Goldman Sachs
Daniel Fannon - Jefferies
John Dunn - Evercore ISI
Operator
Thank you for standing by, and welcome to the AllianceBernstein Second Quarter 2022 Earnings Review. [Operator Instructions]
I would now like to turn the conference over to the host for this call, Head of Investor Relations for AB, Mr. Mark Griffin. Please go ahead.
Mark Griffin
Thank you, Sarah. Good morning, everyone, and welcome to our second quarter 2022 earnings review. This conference call is being webcast and accompanied by a slide presentation that's posted in the Investor Relations section of our website, www.alliancebernstein.com.
With us today to discuss the company's results for the quarter are Seth Bernstein, our President and CEO; Kate Burke, COO and CFO; and Matt Bass, Head of Private Alternatives. Bill Siemers, Controller and Chief Accounting Officer, will join us for questions after our prepared remarks.
Some of the information we'll present today is forward-looking and subject to certain SEC rules and regulations regarding disclosure. So I'd like to point out the safe harbor language on Slide 2 of our presentation. You can also find our safe harbor language in the MD&A of our 10-Q, which we filed earlier this morning.
Under Regulation FD, management may only address questions of material nature from the investment community in a public forum.
So please ask all such questions during this call. Now I'll turn it over to Seth.
Seth Bernstein
Good morning, and thank you for joining us today. Our second quarter results reflected adverse market conditions as negative market sentiment was amplified by a sharp decline in asset prices in the quarter.
Despite outflows from taxable fixed income, we generated continued organic growth and market share gains in municipals and active equities and grew in alternatives, multi-asset, highlighting the strength of our globally diversified and differentiated services.
Our fee rate improved by 2% year-over-year, driven by a mix as higher fee active equities and alternatives, both grew organically by 7% on a trailing 12-month basis. Our institutional business saw inflows in the quarter and our pipeline grew driven by alternatives.