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Cohen & Steers (CNS) Stock Up as November AUM Balance Improves
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Shares of Cohen & Steers, Inc. (CNS - Free Report) rallied 1.3% in response to a solid improvement in assets under management (AUM) balance for November 2023. The company reported preliminary AUM of $78.7 billion as of Nov 30, 2023, which reflected a jump of 9.1% from the prior-month level.
Market appreciation of $7 billion largely drove the improvement, which was partially offset by net outflows of $264 million and distributions of $155 million.
Cohen & Steers recorded total institutional accounts of $32.7 billion at the end of November 2023, soaring 9.9% from the October-end level. Of the total institutional accounts, advisory accounts were $18.9 billion, while the rest were sub-advisory.
Closed-end funds were $10.7 billion, increasing 6.6% from the October 2023 level. Also, the company recorded $35.3 billion in open-end funds, marking a 9.1% rise from the prior month.
Cohen & Steers’ diverse product offerings, global reach and investment strategies are expected to support its financials. A solid AUM balance is likely to continue aiding the top line. However, a challenging operating environment is a major near-term headwind, which might hurt its financials to some extent.
Over the past three months, shares of Cohen & Steers have rallied 2.7%, underperforming the industry’s growth of 5.3%.
Image Source: Zacks Investment Research
Performance of Other Asset Managers
Invesco (IVZ - Free Report) has announced preliminary AUM for November 2023. The company’s month-end AUM of $1.54 trillion represented a 6.3% jump from the previous month.
Invesco reported net long-term inflows of $1.7 billion in the month. Additionally, money market net inflows were $5.8 billion and non-management fee-earning net inflows were $2.7 billion.
This Zacks Rank #3 (Hold) company’s November AUM was positively impacted by market returns, which increased the AUM balance by $75 billion. Further, foreign exchange resulted in a rise in AUM by $6.7 billion. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Franklin Resources, Inc. (BEN - Free Report) reported a preliminary AUM balance of $1.41 trillion for November 2023. This reflects a 6% increase from $1.33 trillion recorded as of Oct 31, 2023.
The rise in BEN’s AUM balance was primarily driven by the impacts of positive markets and relatively stable long-term net outflows. At present, Franklin carries a Zacks Rank #3.
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Cohen & Steers (CNS) Stock Up as November AUM Balance Improves
Shares of Cohen & Steers, Inc. (CNS - Free Report) rallied 1.3% in response to a solid improvement in assets under management (AUM) balance for November 2023. The company reported preliminary AUM of $78.7 billion as of Nov 30, 2023, which reflected a jump of 9.1% from the prior-month level.
Market appreciation of $7 billion largely drove the improvement, which was partially offset by net outflows of $264 million and distributions of $155 million.
Cohen & Steers recorded total institutional accounts of $32.7 billion at the end of November 2023, soaring 9.9% from the October-end level. Of the total institutional accounts, advisory accounts were $18.9 billion, while the rest were sub-advisory.
Closed-end funds were $10.7 billion, increasing 6.6% from the October 2023 level. Also, the company recorded $35.3 billion in open-end funds, marking a 9.1% rise from the prior month.
Cohen & Steers’ diverse product offerings, global reach and investment strategies are expected to support its financials. A solid AUM balance is likely to continue aiding the top line. However, a challenging operating environment is a major near-term headwind, which might hurt its financials to some extent.
Over the past three months, shares of Cohen & Steers have rallied 2.7%, underperforming the industry’s growth of 5.3%.
Image Source: Zacks Investment Research
Performance of Other Asset Managers
Invesco (IVZ - Free Report) has announced preliminary AUM for November 2023. The company’s month-end AUM of $1.54 trillion represented a 6.3% jump from the previous month.
Invesco reported net long-term inflows of $1.7 billion in the month. Additionally, money market net inflows were $5.8 billion and non-management fee-earning net inflows were $2.7 billion.
This Zacks Rank #3 (Hold) company’s November AUM was positively impacted by market returns, which increased the AUM balance by $75 billion. Further, foreign exchange resulted in a rise in AUM by $6.7 billion. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Franklin Resources, Inc. (BEN - Free Report) reported a preliminary AUM balance of $1.41 trillion for November 2023. This reflects a 6% increase from $1.33 trillion recorded as of Oct 31, 2023.
The rise in BEN’s AUM balance was primarily driven by the impacts of positive markets and relatively stable long-term net outflows. At present, Franklin carries a Zacks Rank #3.