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Franklin Resources, Inc. (BEN) - free report >>
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Franklin Resources, Inc. (BEN) - free report >>
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Cohen & Steers' (CNS) July AUM Improves 7% on Upbeat Markets
Cohen & Steers (CNS - Free Report) reported preliminary assets under management (AUM) of $94 billion as of Jul 31, 2022, which reflects a jump of 7% from the prior-month level. Market appreciation of $6 billion and net inflows of $327 million supported the rise, partially offset by distributions of $183 million.
CNS recorded total institutional accounts of $37.3 billion at the end of July, jumping 8% from the June-end level. Of the total institutional accounts, advisory accounts were $21.7 billion, while the rest were sub-advisory.
Cohen & Steers recorded $44.4 billion in open-end funds, rising 6.7% from the prior month. Likewise, closed-end funds were $12.4 billion, up 5.1% from June 2022.
The company’s diverse product offerings, global reach and investment strategies are expected to keep supporting financials. Its solid AUM balance will likely continue aiding the top line. However, elevated expenses might impede bottom-line growth to some extent.
Over the past year, shares of CNS have lost 15.7% compared with a 22.6% decline recorded by the industry.
Image Source: Zacks Investment Research
Performance of Other Asset Managers
Franklin Resources, Inc. (BEN - Free Report) reported a preliminary AUM balance of $1,429.7 billion for July 2022. This reflects a 3.6% increase from $1,379.8 billion recorded as of Jun 30, 2022.
The rise in AUM balance was primarily driven by upbeat market performance, partially offset by the long-term net outflows. BEN currently carries a Zacks Rank of 3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Invesco (IVZ - Free Report) announced preliminary AUM for July 2022. The company’s month-end AUM of $1,449 billion represented a 4.2% rise from the prior month's end.
Invesco recorded net long-term outflows of $5.2 billion. Non-management fee-earning net inflows were $1.4 billion and money market net inflows were $5.1 billion. Foreign exchange rate movements did not have any material impact on the month’s AUM balance. IVZ at present has a Zacks Rank #4 (Sell).