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Cohen & Steers (CNS) November AUM Up on Solid Markets, Inflows
Cohen & Steers (CNS - Free Report) reported preliminary assets under management (AUM) of $76.7 billion as of Nov 30, 2020, which increased 7.7% from the prior-month level. Net inflows of $458 million and market appreciation of $5.2 billion were partly offset by distributions of $221 million.
The company recorded total institutional accounts of $32.4 billion at the end of November, up 7.9% from the October-end level. Of the total institutional accounts, advisory accounts were $17.3 billion, while the rest were sub-advisory.
Cohen & Steers recorded $33.7 billion in open-end funds, up 7.8% from a month ago. Also, close-end funds were $10.5 billion, which grew 6.5% from October 2020.
Cohen & Steers’ widespread product offerings, global reach and investment strategies continue to attract investors, thus, supporting revenue growth. However, mounting expenses are likely to impede bottom-line growth to some extent.
Shares of the company have gained 8.6% over the past six months compared with 19.8% growth 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 (BEN - Free Report) , Invesco (IVZ - Free Report) and T. Rowe Price (TROW - Free Report) are expected to release preliminary AUM results for November in the coming days.
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