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Cohen & Steers September AUM Up on Market Gains & Inflows

Zacks Equity Research

Cohen & Steers CNS reported preliminary assets under management (AUM) of $70.8 billion as of Sep 30, 2019, up 1.8% from the prior-month level. Market appreciation of $931 million and net inflows of $613 million were partly offset by distributions of $275 million.

The company recorded total institutional accounts of $31.5 billion at the end of the month, up 1.9% on a sequential basis. Of the total institutional accounts, advisory accounts were $15.2 billion as of Sep 30 while the remaining were subadvisory accounts.

Cohen & Steers recorded $29.6 billion in open-end funds, up 2.1% from the $29 billion recorded a month ago. Also, closed-end funds were $9.7 billion, up nearly 1% from August 2019.

With operations across the globe, the company benefits largely from its well-diversified AUM. However, escalating expenses, mainly due to its continued expansion efforts, are expected to keep hindering its bottom-line growth.

Shares of the company have surged 56.5% so far this year against the 8.6% decline of the industry.

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.

Performance and Upcoming Releases

Franklin Resources BEN announced preliminary AUM by its subsidiaries of $692.6 billion for September 2019. Results displayed a slight rise from $690.6 billion recorded as of Aug 31, 2019. Net market gains led to the improvement, partially offset by net outflows.

Invesco IVZ and AllianceBernstein Holding L.P. AB are expected to report September AUM figures in the next few days.

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