Cohen & Steers CNS has reported preliminary assets under management (AUM) of $73.3 billion as of Jan 31, 2020, up 1.5% from the prior-month level. Market appreciation of $758 million and net inflows of $560 million, partly offset by distributions of $192 million, led to this upswing.
The company recorded total institutional accounts of $32.1 billion at the end of January, up around 1% on a sequential basis. Of the total institutional accounts, advisory accounts were $15.8 billion as of Jan 31, while the remaining were sub-advisory accounts.
Cohen & Steers recorded $31.5 billion in open-end funds, up 2.6% from the $30.7 billion recorded in the prior month. Also, close-end funds came in at $9.7 billion, up 1% from December 2019.
With operations at a global level, Cohen & Steers benefits 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 continued expansion efforts, will likely impede bottom-line growth to some extent.
Currently, Cohen & Steers sports a Zacks Rank #1 (Strong Buy). Shares of the company have gained around 15.9%, over the last three months, compared with 10.7% growth recorded by the industry. You can see the complete list of today’s Zacks #1 Rank stocks here.
Among other asset managers, Invesco Ltd. IVZ, T. Rowe Price Group, Inc. TROW and Legg Mason Inc. LM are expected to release preliminary AUM results for January, later this week.
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