Cohen & Steers (CNS - Free Report) reported preliminary assets under management (AUM) of $69.3 billion as of Feb 29, 2020, down 5.5% from the prior-month level. Market depreciation of $4.4 billion and distributions of $194 million were partially offset by net inflows of $593 million.
The company recorded total institutional accounts of $29.7 billion at the end of February, down 7.5% on a sequential basis. Of the total institutional accountsas of Feb 29, advisory accounts were $14.6 billion, while the rest were sub-advisory.
Cohen & Steers recorded $30.1 billion in open-end funds, down 7.2% from $31.5 billion in the prior month. Also, close-end funds came in at $9.4 billion, declining 3.2% from January 2020.
With operations at a global level, Cohen & Steers benefits from 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.
Shares of the company have lost 12.7% over the past three months compared with 9.8% decline of the industry it belongs to.
Currently, Cohen & Steers sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Among other asset managers, Franklin Resources, Inc. (BEN - Free Report) also reported fall in preliminary month-end AUM balance. The company’s AUM balance as of Feb 29, 2020 declined 4.6% sequentially to $656.5 billion. The decrease was largely due to sharp market declines.
Invesco Ltd. (IVZ - Free Report) and Legg Mason Inc. are expected to release preliminary AUM results for February in the coming days.
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Cohen & Steers (CNS - Free Report) reported preliminary assets under management (AUM) of $69.3 billion as of Feb 29, 2020, down 5.5% from the prior-month level. Market depreciation of $4.4 billion and distributions of $194 million were partially offset by net inflows of $593 million.
The company recorded total institutional accounts of $29.7 billion at the end of February, down 7.5% on a sequential basis. Of the total institutional accountsas of Feb 29, advisory accounts were $14.6 billion, while the rest were sub-advisory.
Cohen & Steers recorded $30.1 billion in open-end funds, down 7.2% from $31.5 billion in the prior month. Also, close-end funds came in at $9.4 billion, declining 3.2% from January 2020.
With operations at a global level, Cohen & Steers benefits from 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.
Shares of the company have lost 12.7% over the past three months compared with 9.8% decline of the industry it belongs to.
Currently, Cohen & Steers sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Among other asset managers, Franklin Resources, Inc. (BEN - Free Report) also reported fall in preliminary month-end AUM balance. The company’s AUM balance as of Feb 29, 2020 declined 4.6% sequentially to $656.5 billion. The decrease was largely due to sharp market declines.
Invesco Ltd. (IVZ - Free Report) and Legg Mason Inc. are expected to release preliminary AUM results for February in the coming days.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.7% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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