AllianceBernstein's fourth-quarter revenue climbs 13 percent

Tue Feb 12, 2013 7:15am EST

Feb 12 (Reuters) - AllianceBernstein Holding LP said on Tuesday that fourth-quarter net revenue rose 13 percent to $705 million after the U.S. asset manager booked positive net flows from customers for the first time since before the financial crisis.

Controlled by French insurance giant Axa SA, AllianceBernstein said total net inflows were $5 billion in the quarter. In recent years, the company has been hit by clients' pulling billions of dollars from their investment accounts.