Cohen & Steers' (CNS) July AUM Improves on Market Gains
Cohen & Steers CNS reported preliminary assets under management (AUM) of $60.5 billion as of Jul 31, 2018, up almost 1% from the prior-month level. Market appreciation of $653 million was partially offset by net outflows of $72 million and distributions of $261 million.
The company recorded total institutional accounts of $28.3 billion at the end of July, marginally lower on a sequential basis. Of the total institutional accounts, advisory accounts were $12.3 billion as of Jul 31 while the remaining were subadvisory accounts.
Cohen & Steers recorded $23.1 billion in open-end funds, jumping 1.1% from the $22.8 billion recorded in the previous month. Also, close-end funds came in at $9.2 billion, up 1.1% from the prior-month figure of $9.1 billion.
With operations at a global level, Cohen & Steers benefits greatly from its well diversified AUM. The company’s widespread product offerings and investment strategies continue to attract investors, in turn, supporting revenue growth. However, mounting expenses, mainly due to its continuous expansion efforts will likely hamper bottom-line growth to some extent.
Shares of the company have rallied 8.7% over the past six months against 5.1% decline for the industry it belongs to.
Cohen & Steers currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Among other investment managers, Franklin Resources BEN announced preliminary AUM by its subsidiaries of $733.7 billion for July. Results reflect growth of 1.3% from $724.1 billion recorded as of Jun 30. The rise was primarily driven by market gains, partially offset by net outflows.
Notably, Invesco IVZ and Federated Investors, Inc. FII will likely come out with their respective monthly numbers soon.
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