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Cohen & Steers' August AUM Up on Solid Markets & Inflows

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Cohen & Steers (CNS - Free Report) reported preliminary assets under management (AUM) of $72.1 billion as of Aug 31, 2020, which increased 2.8% from the prior-month level. Market appreciation of $1.2 billion and net inflows of $1 billion were partially offset by distributions of $211 million.

The company recorded total institutional accounts of $31.5 billion at the end of August, up 3.6% from the July-end level. Of the total institutional accounts, advisory accounts were $16.9 billion, while the rest were sub-advisory.

Cohen & Steers recorded $31.7 billion in open-end funds, up 2.5% from a month ago. Also, close-end funds were $8.9 billion, which grew almost 1% from July 2020.

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

Shares of the company have lost 6.5% so far this year compared with a 7.3% decline recorded by the industry it belongs to.



Currently, Cohen & Steers carries a Zacks Rank #4 (Sell).

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 T. Rowe Price (TROW - Free Report) are expected to release preliminary AUM results for August in the coming days.

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