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

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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.

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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.


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