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Cohen & Steers' (CNS) February AUM Rises on Upbeat Markets

Zacks Equity Research

Cohen & Steers CNS has reported preliminary assets under management (AUM) of $60.8 billion as of Feb 28, 2019, up 1.3% from the prior-month level. Market appreciation of $624 million and net inflows of $350 million, partly offset by distributions of $196 million, drove this upside.

The company recorded total institutional accounts of $28.1 billion at the end of the month, down marginally on a sequential basis. Of the total institutional accounts, advisory accounts were $13.3 billion as of Feb 28, while the remaining were sub-advisory accounts.

Cohen & Steers recorded $23.6 billion in open-end funds, up 3.4% from the $22.8 billion recorded a month ago. Also, close-end funds came in at $9.1 billion, up nearly 1% from January.

With operations spread across the globe, Cohen & Steers benefits largely from its well-diversified AUM. The company’s widespread product offerings and investment strategies continue to attract investors, driving top-line growth.

However, escalating expenses, mainly due to its continued expansion efforts, will keep hindering bottom-line growth.

Currently, Cohen & Steers carries a Zacks Rank #4 (Sell). Shares of the company have gained around 13.2% over the past three months compared with 10.3% growth recorded by the industry.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Among other asset managers, AllianceBernstein Holding L.P. AB announced its AUM for February. The company’s preliminary month-end AUM of $547 billion increased 1.7% from the prior month. Favorable market returns and total net inflows were the primary reason behind the rise in total AUM.

Franklin Resources BEN has announced preliminary AUM by its subsidiaries of $714.2 billion for February. Results displayed a 5.3% improvement from $678.3 billion recorded as of Jan 31, 2019. Net market gains and the acquisition of Benefit Street Partners L.L.C., partially offset by net outflows, led to this upside. However, the figure dipped 4.1% from the previous year.

Invesco IVZ has also announced its AUM for February. The company’s preliminary month-end AUM of $945.7 billion inched up 1.6% from the prior month.

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