Cohen & Steers CNS reported preliminary assets under management (AUM) of $70.1 billion as of Jul 31, 2020, which increased 5.7% from the prior-month level. Market appreciation of $2.7 billion and net inflows of $1.3 billion were partially offset by distributions of $209 million.
The company recorded total institutional accounts of $30.4 billion at the end of July, up 5.5% from the June-end level. Of the total institutional accounts, advisory accounts were $15.9 billion, while the rest were sub-advisory.
Cohen & Steers recorded $30.9 billion in open-end funds, up 6.8% from a month ago. Also, close-end funds were $8.8 billion, which grew 3.2% from June 2020.
The company’s 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 lost 2.8% so far this year compared with a 1.4% decline recorded by the industry it belongs to.
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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 July in the coming days.
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Franklin Resources, Inc. (BEN): Free Stock Analysis Report
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Invesco Ltd. (IVZ): Free Stock Analysis Report
Cohen Steers Inc (CNS): Free Stock Analysis Report
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