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Franklin Resources, Inc. (BEN) - free report >>
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Cohen & Steers' (CNS) April AUM Improves on Solid Inflows
Cohen & Steers (CNS - Free Report) reported preliminary assets under management (AUM) of $92.8 billion as of Apr 30, 2021, which reflects an increase of 6.7% from the prior-month level. Net inflows of $821 million and market appreciation of $5.2 billion were partially offset by distributions of $200 million.
The company recorded total institutional accounts of $39.3 billion at the end of April, up 7.6% from the March-end level. Of the total institutional accounts, advisory accounts were $22 billion, while the rest were sub-advisory.
Cohen & Steers recorded $41.1 billion in open-end funds, up 6.4% from a month ago. Closed-end funds were $12.4 billion, up 4.6% from March 2021.
The company’s diverse product offerings, global reach and investment strategies are expected to continue to support financials. Its solid AUM balance will likely keep aiding the top line. However, elevated expenses are expected to impede bottom-line growth to some extent.
Over the past six months, shares of the company have gained 15% compared with 37.3% 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 April in the coming days.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>