for growth a broad-based morning. AB. joining active reflected X.X% bringing annualized net results us you pleased full-year net inflows best our the XXXX I'm in today. inflows year fourth billion were strength $XX.X organic to which quarter, Good a our translates than in Thank active $X.X billion to rate, across to more active Firmwide report decade.
by change. fee overall success a to And driven in AB's environment fairly very with were an mix well-diversified rates, a fixed channels remained continuing in portfolio region. and Flows declining stable active strong favorable were income and year across equities, which rate of thanks fee
or for throughout fixed sales starting high were in of was The slide into overview Annual get up XX% gross XXXX. global on demand retail XXXX. XXXX specifics, reflecting the channel firmwide billion products a from robust, let's income Now, $XX billion with $XXX.X X.
$XXX assets Combined billion of year. solid of in the from year-end passive investment performance, outflows. $XX.X Total prior for our firmwide net year, $X.X and in inflows billion active net under strong billion billion markets with inflows were comprised increased the management XX% $XX.X net and
of trends for We strong inflows reported in also saw net we morning, continuation XXXX. a January this
Slide X net billion inflows, quarter, positive in essentially our net Firmwide and Net $X.X inflows sixth passive solid for wealth of inflows consisted retail trend net private flow channel. the partially were quarterly were driven by shows flows of offset billion of outflows. billion $X.X by $X.X results, active flat. by institutional healthy while consecutive
for quarter. sales inflows retail by In $XX.X only And billion highest the our quarter. billion the retail, of were of second net in retail consecutive history, the prior fourth $X billion $X.X gross exceeded eclipsed
bottom the rate sequentially, of billion inflows you institutional see as $X.X at of grew chart, net equity XX%. an sales annualized can billion In of left gross $X.X resulting inflows increase active $X.X of billion in
prior-year private In sequential both improved and sales gross wealth, and relative periods. to redemptions
three years were flows annual crisis net an financial Institutional is five led billion by private $XX.X $X of billion Slide best inflows view. were had and flows billion and which we before inflows of billion. wealth of of the produced net since following $X.X $XX.X contracted inflows net had retail, Firmwide global growth. the by
of Now, performance assets of diversified with income, over X. on turn continued years let's approach outperforming fixed slide three drive returns, XX% competitive to five beginning and In investment risk-adjusted outperforming highly our to XX% over years. global assets
AB assets improved Funds. Income led Global one-year and outperforming, by Our XX% our Global of to Fund, performance Bond High-Yield
to our assets includes funds, in combined exposure these results. risk quarter, high-yield, outperformance which multisector The of the contributed to barbell fourth approach in with
one-year assets strong of investment also long-term years. outperformed. period, of the performance three In assets outperforming five remained our In with and XX% equities, recent years over XX% over most XX%
higher biased, underperformance. quality Our combined growth with position, to funds cash its large-cap led
semiconductors. underexposure to beta equities did such as the market lower strategic cyclical as caused to portfolio, trail our us sectors In more
the X and X more records performance. and reflects retail compelling X that our The on across horizons. income table track mid on provide are slide equity and fixed fixed near, insight income investment long-term Slides
Performance in our income portfolios particularly been have strong.
income quartile each three periods. one, the European top within for American are five-year and the well of and South income
five-year five-year decile The consistent top high bond income the and strategy of top for municipal the in the inflation three intermediate fund one, is comparable three for our and the decile periods for muni quartile strategies in portfolio each income periods. and their and diversified one, with outperformance, and top periods municipal showed the
periods. slide vol for and time Moving US concentrated five-year the offshore offerings, global, the quartile and global global the in Among long/short select top X. on in continue low place three was time our in to core strategies decile And all periods. equities to top
international retail the growth fund US maintained US and in periods. three periods. while over and our maintaining were performance five-year top growth over large-cap the And funds, our quartile one-year the both three concentrated strong portfolios over our and the five-year period, performance decile Of top
experienced continued service rebound we in performance. underperform, emerging while offerings, to markets value our Within to growth one-year
investment Let's our on beginning following We retail client this slide enjoyed move years to on our year platform. X. in of success with tremendous channels retail
year-over-year Our record $XX prior billion or by surpassed overall of sales billion $XX.X XX%. were and up XX% our
the As period. flows in region were each the in while shows, well. strength exhibiting as top regions left Asia, And sales chart in versus positive grew prior all particular net
of ranked active our were billion, XXX by growth. cross-border inflows peers led We third each in exceeding of of platform, flows. in XX% results organic income inflows billion or net net billion fixed quarter retail fixed income These $XX.X were which $XX.X net out XXXX. active $X Full-year saw
year the active net in XX demonstrated net consistency inflows flows equities, with grew billion, third to XX of We quarters. the past Turning our equity active platform growth. equity consecutive of organic its $X.X
XX to funds attracted income more the and equities, flows or X them continued net XX diversity as the of in multiasset. show of million XX year, significant $XXX inflows We in in fixed
more than assets management. XX% $X at retail offerings AB versus billion billion, under $XXX an the high, in XX year-end, were And assets all-time year. management retail At prior under up
were for Our US managers. out net of the year ranked sixth AB asset XXX retail active equity excellent. inflows
and strategies mid-teen alt flows bond placed equity top fixed are and platforms for These the the net both international ranked flows our results. Our and versus distinguished income in of liquid in tactical decile peers. municipal percentiles
We was also Fund, oriented during $XXX our Lux success continued for by billion those over XX platforms year. sales over exemplified approved in which multiasset strategies, our XXXX particularly gross just all-market income, towards in $X the AUM see to with surpassed as million in in and
partially I'll year Now, slide of net $XX.X of inflows XX. $X.X billion, Gross passive billion inflows, on outflows. by the $X.X $X.X billion, sales discuss for billion net of were in offset active with comprised institutional
for our is of up XX% by since exceeded that prior versus which worth billion best $X.X the Sales X noting continued gross year, to XX platform, quarters. equity be or $X the led our year past have It's active sales billion XXXX.
$X.X global Net global in strategies. concentrated our growth equities core by of inflows translated active into billion led and X% rate, a growth organic
our years, equities landscape. two grown at past Very an rate the results growth Over given institutional has the average organic XX%. business strong of
geography. grew shows quarter base our at Our That's in has up year-end, $X.X pipeline million exceeded $XX.X second institutional and diversification year-on-year. row with pipeline's and is a additions in billion the the XX% and annual that XX% This in billion fee asset pipeline to classes sequentially across $XX fourth quarter.
$X of $X.X passive fourth New fee additions low a billion the strategy. included in quarter billion
twice average. Excluding remains that, the average the than channel fee more rate
additional note. One
we intent notification AXA earnings sorry As were fixed first recently to its of of our half terminate billion mandate approximately release XX-K, receive from income stated during and of XXXX. to investment the in $XX
significant. the However, impact low are the from and managing earned is revenue fees we not these assets
geopolitical management on wealth did not private the clients uncertainty cash inflows awaiting broader sales growing $XX.X to slide softness trade from to hold Moving resolution some billion invest when of turned the cases, of XX. Fed materialize due situation some to interest clients and policy. their small In expecting put environment. some reflected business with due rate sell to Full-year and were transactions of on clarification China to economic cautious, businesses
in our were outflows grow element billion. our important in Redemptions strategy of of net is high-end average, An our portion below continue business. long-term to the of $X to XXXX resulting full-year
X.X% XX% $XX the are of accounts complex affluent In more client year. grew grown our highly million base. and comprise billion having by alternatives continued versus billion, These XXXX, committed products targeted assets than $XX.X supportive by and $X.X deployed in and growth or client of now prior greater
advisor turnover. And base advisor which to is also $X.X strong grew billion, we the by our X%, the We at in lower-than-expected due target ESG high-end from up growth prior our grew saw to of year. XX% which strategies,
strategy. A regarding firm's our few comments ESG
responsible firm, research quarter. our As published believe a hand-in-hand a and go investor we noted in and as investing being this past we report corporate responsibly company responsibility responsible that fiduciary
formalize including platform from their tools several into a We've share capabilities called and to digital help evaluations ESIGHT teams and platforms, proprietary company to invested our integrate extend our in ESG engagement. insights ESG investing
proprietary side research for ESG analyst their Prism sell scores includes directly teams ESG factors analyses. each income fixed into and Our company integrate impacts that research our issuer. stock platform And ratings
finish XX. effects with a slide geographies. environment as difficult depressed side business on continues in the activity feel overview customer I'll to Bernstein most Research of the sell our remained
full-year focus the a appropriate AB's and X% efforts it continues and prior-year profitability. declined contribute as quarter manage that on respectively to period. revenues Fourth by our taking continued compared to X% steps few we while growth on opportunities, to select XXXX, ensure In business with the to to
our of cross-selling in of autonomous, sales and seven research with achieving investments included, team are and on clients efforts XXXX research. more launch plan XXX increased of an research Asian track in while both trading including Indian our cost than Accomplishments we Indian potential focused remained targets, an trial, on integration pre-IPO with sector Mumbai, buildout launches, new savings and on our
AART top in another Importantly, the showing XX we strong ranked survey, with sectors. investor institutional had
XXXX highlighting slide accomplishments I'll on of close some XX. by our
investment alternatives, differentiated with clients which X.X% strong, combined year. delivering and full across for drove global the continued for multiasset capabilities income, distribution active We organic growth equities, our returns fixed
products. through growth with for the diverse results year, of diversified a inflows record had net Retail across full number active achieved of organic XX%
in saw of Institutional strength growing fee equity pipeline higher business. flows active and
of the lending XXXX fund. existing our platforms. high-yield offerings commercial real our funds third included CLO business, built management estate well middle-market fund alternative in New leveraging as as direct JV and a We
savings. of now simultaneously functions was resulting to we expect done expense people, X,XXX Nashville key meaningful All where this in employ while to relocating
across In had well summary, for year we're global platform our strong continued in growth XXXX. a positioned we and
turn financials. I'll review to over to John the Now, it
