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Cohen & Steers July AUM Increases on Market Appreciation
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Cohen & Steers (CNS - Free Report) reported preliminary assets under management (AUM) of $63.1 billion as of Jul 31, 2019, up nearly 1.2% from the prior-month level of $62.4 billion. Market appreciation of $794 million and net inflows of $255 million were partly offset by a conversion of $119 million from certain institutional accounts to model-based portfolios (excluded from AUM) and distributions of $181 million.
The company recorded total institutional accounts of $27.6 billion at the end of the month, up 1.3% on a sequential basis. The increase was mainly driven by net inflows and market appreciation, partly offset by the above-mentioned conversion. Of the total institutional accounts, advisory accounts were $14.5 billion as of Jul 31 while the remaining were sub-advisory accounts.
Cohen & Steers recorded $26.1 billion in open-end funds, up 1.4% from the $25.7 billion recorded a month ago. Also, closed-end funds were $9.5 billion, up marginally from June 2019.
With operations across the globe, the company benefits largely from its well-diversified AUM. However, escalating expenses mainly due to its continued expansion efforts will keep hindering its bottom-line growth.
Shares of the company have gained 5% over the past three months against a 5.3% decline recorded by the industry.
Franklin Resources (BEN - Free Report) announced preliminary AUM by its subsidiaries of $709.5 billion for July 2019. Results displayed slight decrease from $715.2 billion recorded as of Jun 30, 2019. Net outflows and net market change led to this downside. Further, the figure edged down 3.3% year over year.
Invesco (IVZ - Free Report) and AllianceBernstein Holding L.P. (AB - Free Report) are expected to report July AUM figures in the next few days.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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Cohen & Steers July AUM Increases on Market Appreciation
Cohen & Steers (CNS - Free Report) reported preliminary assets under management (AUM) of $63.1 billion as of Jul 31, 2019, up nearly 1.2% from the prior-month level of $62.4 billion. Market appreciation of $794 million and net inflows of $255 million were partly offset by a conversion of $119 million from certain institutional accounts to model-based portfolios (excluded from AUM) and distributions of $181 million.
The company recorded total institutional accounts of $27.6 billion at the end of the month, up 1.3% on a sequential basis. The increase was mainly driven by net inflows and market appreciation, partly offset by the above-mentioned conversion. Of the total institutional accounts, advisory accounts were $14.5 billion as of Jul 31 while the remaining were sub-advisory accounts.
Cohen & Steers recorded $26.1 billion in open-end funds, up 1.4% from the $25.7 billion recorded a month ago. Also, closed-end funds were $9.5 billion, up marginally from June 2019.
With operations across the globe, the company benefits largely from its well-diversified AUM. However, escalating expenses mainly due to its continued expansion efforts will keep hindering its bottom-line growth.
Shares of the company have gained 5% over the past three months against a 5.3% decline recorded by the industry.
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.
Performance and Upcoming Releases
Franklin Resources (BEN - Free Report) announced preliminary AUM by its subsidiaries of $709.5 billion for July 2019. Results displayed slight decrease from $715.2 billion recorded as of Jun 30, 2019. Net outflows and net market change led to this downside. Further, the figure edged down 3.3% year over year.
Invesco (IVZ - Free Report) and AllianceBernstein Holding L.P. (AB - Free Report) are expected to report July AUM figures in the next few days.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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