Back to top

Image: Bigstock

Cohen & Steers' (CNS) May AUM Increases on Strong Inflows

Read MoreHide Full Article

Cohen & Steers (CNS - Free Report) has reported preliminary assets under management (AUM) of $94.2 billion as of May 31, 2021, which reflects an increase of 1.5% from the prior-month level. Net inflows of $760 million and market appreciation of $815 million were partially offset by distributions of $201 million.

The company recorded total institutional accounts of $39.8 billion at the end of May, up 1.2% from the April-end level. Of the total institutional accounts, advisory accounts were $22.4 billion, while the rest were sub-advisory.

Cohen & Steers recorded $42 billion in open-end funds, up 2.1% from a month ago. Closed-end funds were $12.4 billion, up marginally from April 2021.

The company’s diverse product offerings, global reach and investment strategies are expected to continue to support financials. Cohen & Steers’ solid AUM balance is likely to keep aiding the top line. However, elevated expenses are expected to impede bottom-line growth to some extent.

Over the past three months, shares of Cohen & Steers have gained 11.7% underperforming the 16% rally recorded by the industry it belongs to.

Zacks Investment ResearchImage Source: Zacks Investment Research


Currently, Cohen & Steers carries a Zacks Rank #3 (Hold). 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 May in the coming days.

 

Infrastructure Stock Boom to Sweep America

A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.

The only question is “Will you get into the right stocks early when their growth potential is greatest?”

Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.

Download FREE: How to Profit from Trillions on Spending for Infrastructure >>