Cohen & Steers CNS has reported preliminary assets under management (AUM) of $94.2 billion as of May 31, 2021, which reflects an increase of 1.5% from the prior-month level. Net inflows of $760 million and market appreciation of $815 million were partially offset by distributions of $201 million.
The company recorded total institutional accounts of $39.8 billion at the end of May, up 1.2% from the April-end level. Of the total institutional accounts, advisory accounts were $22.4 billion, while the rest were sub-advisory.
Cohen & Steers recorded $42 billion in open-end funds, up 2.1% from a month ago. Closed-end funds were $12.4 billion, up marginally from April 2021.
The company’s diverse product offerings, global reach and investment strategies are expected to continue to support financials. Cohen & Steers’ solid AUM balance is likely to keep aiding the top line. However, elevated expenses are expected to impede bottom-line growth to some extent.
Over the past three months, shares of Cohen & Steers have gained 11.7% underperforming the 16% rally recorded by the industry it belongs to.
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Currently, Cohen & Steers carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Among other asset managers, Franklin Resources BEN, Invesco IVZ and T. Rowe Price TROW are expected to release preliminary AUM results for May in the coming days.
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