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Cohen & Steers' July AUM Rises on Solid Markets & Inflows

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Cohen & Steers (CNS - Free Report) reported preliminary assets under management (AUM) of $70.1 billion as of Jul 31, 2020, which increased 5.7% from the prior-month level. Market appreciation of $2.7 billion and net inflows of $1.3 billion were partially offset by distributions of $209 million.

The company recorded total institutional accounts of $30.4 billion at the end of July, up 5.5% from the June-end level. Of the total institutional accounts, advisory accounts were $15.9 billion, while the rest were sub-advisory.

Cohen & Steers recorded $30.9 billion in open-end funds, up 6.8% from a month ago. Also, close-end funds were $8.8 billion, which grew 3.2% from June 2020.

The company’s widespread product offerings, global reach and investment strategies continue to attract investors, in turn, supporting revenue growth. However, mounting expenses will likely impede bottom-line growth to some extent.

Shares of the company have lost 2.8% so far this year compared with a 1.4% decline recorded by the industry it belongs to.


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.

Among other asset managers, Franklin Resources, Inc. (BEN - Free Report) , Invesco Ltd. (IVZ - Free Report) and Legg Mason Inc. are expected to release preliminary AUM results for July in the coming days.

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