AllianceBernstein, the US-listed fund management group, said its net income per share fell by 17 per cent to $0.96 per share in the second quarter of 2008 from the same period last year.

Assets under management at June 30, 2008 were $717 billion, a 10 per cent drop from a year before. Net outflows for the three months ended June 30, 2008 were $4.6 billion, consisting of retail net outflows of $2.5 billion,  institutional investments net outflows of $1.4 billion and private client net outflows of $0.7 billion. Net inflows for the twelve months ended June 30, 2008 were $3.1 billion.