Was the $4.8 billion active net outflow for AB in Q2 2025 attributed to April 2025 market volatility?

Yes, the $4.8 billion active net outflow for AllianceBernstein (AB) in Q2 2025 was indeed attributed to market volatility in April 2025.

Here's a breakdown of the situation:

• Confirmed Outflows: Equitable Holdings, Inc., which holds a significant stake in AllianceBernstein, explicitly reported that AB's Asset Management segment experienced active net outflows of $4.8 billion in Q2 2025. These outflows were "concentrated in April due to market volatility."1
• Outflow Details: While the $4.8 billion figure specifically refers to active net outflows from AB's Retail segment, the total net outflows for the Asset Management segment in Q2 2025 amounted to $6.7 billion. This larger figure included $1.5 billion from Institutional and $0.4 billion from Private Wealth, in addition to the $4.8 billion from Retail.1
• Market Volatility in April 2025: Several reports from the period indicate heightened market uncertainty and volatility.
• Annaly Capital Management's Q1 2025 earnings presentation, released in late April 2025, noted that "volatility has risen even further as trade policy uncertainty has soared" and that "increased uncertainty in April has contributed to a sell-off in risk assets."2
• Moody's Corporation's Q1 2025 report, also from April 2025, acknowledged that the market was "facing a period of increased volatility."3
• Another SEC filing from April 2025, though not directly related to AB, highlighted "significant market volatility" due to reciprocal tariffs announced on April 2, 2025, suggesting a broader environment of economic uncertainty.4

These data points confirm that the reported outflows for AllianceBernstein in April 2025 occurred during a period of recognized market volatility, and the company's parent attributed these outflows directly to those conditions.