* Earnings per unit 62 cents vs. 53 cents estimate
* Assets under management fell 3.2 pct in January
BOSTON Feb 11 Asset manager AllianceBernstein
Holding LP (AB.N) said its fourth-quarter profit more than
doubled on investment gains and rising fee income, but also
cited a slip in assets under management for January.
The New York-based firm said on Thursday it earned $192
million for the three months ended Dec. 31, up from $92 million
for the same period a year earlier.
For holders of units in publicly traded AllianceBernstein
Holding LP that worked out to 62 cents per unit, up from 27
cents per unit a year earlier.
Analysts had expected the company to earn 53 cents per unit
during the quarter, according to Thomson Reuters I/B/E/S.
AllianceBernstein Holding owns just over a third of asset
manager AllianceBernstein, with the remainder owned by France's
AXA Group (AXAF.PA).
Separately, AllianceBernstein said its total assets under
management fell 3.2 percent to $480 billion as of Jan. 31 from
$496 billion at the end of December.
The company cited "negative equity investment performance
and modest net outflows," mainly by institutional investors.
(Reporting by Ross Kerber; Editing by Richard Chang)