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Cohen & Steers' June AUM Rises on Solid Markets & Inflows

Zacks Equity Research
·2 min read

Cohen & Steers CNS reported preliminary assets under management (AUM) of $66.3 billion as of June 30, 2020, which increased 3.9% from the prior-month level. Market appreciation of $910 million and net inflows of $2.2 billion were partially offset by distributions of $642 million.

The company recorded total institutional accounts of $28.9 billion at the end of June, up 3.2% on a sequential basis. Of the total institutional accounts, advisory accounts were $15.3 billion, while the rest were sub-advisory.

Cohen & Steers recorded $28.9 billion in open-end funds, up 6.1% from a month ago. Also, close-end funds were $8.5 billion, which grew marginally from May 2020.

Cohen & Steers’ widespread product offerings, global reach and investment strategies continue to attract investors, in turn, supporting revenue growth. However, mounting expenses will likely impede bottom-line growth to some extent.

Shares of the company have rallied 1.3% so far this year against a 4.1% decline recorded by the industry it belongs to.






Currently, Cohen & Steers carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Among other asset managers, Franklin Resources, Inc. BEN, Invesco Ltd. IVZ and Legg Mason Inc. LM are expected to release preliminary AUM results for June in the coming days.

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Franklin Resources, Inc. (BEN) : Free Stock Analysis Report
 
Legg Mason, Inc. (LM) : Free Stock Analysis Report
 
Invesco Ltd. (IVZ) : Free Stock Analysis Report
 
Cohen Steers Inc (CNS) : Free Stock Analysis Report
 
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Zacks Investment Research