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Cohen & Steers' October AUM Up on Market Gains & Inflows
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Cohen & Steers (CNS - Free Report) reported preliminary assets under management (AUM) of $72 billion as of Oct 31, 2019, up 1.6% from the prior-month level. Market appreciation of $967 million and net inflows of $333 million were partly offset by distributions of $186 million.
The company recorded total institutional accounts of $31.9 billion at the end of the month, up 1% on a sequential basis. Of the total institutional accounts, advisory accounts were $15.5 billion as of Oct 31 while the remaining were subadvisory accounts.
Cohen & Steers recorded $30.4 billion in open-end funds, up 2.7% from the $29.6 billion a month ago. Also, closed-end funds were $9.7 billion, relatively stable sequentially.
With operations across the globe, Cohen & Steers benefits largely from its well-diversified AUM. However, escalating expenses, mainly due to its continued expansion efforts, are expected to keep hindering its bottom-line growth.
Shares of the company have surged 91.4% so far this year, outperforming the 8.9% rally of the industry.
Franklin Resources (BEN - Free Report) announced preliminary AUM of $693.1 billion for October 2019. Results displayed a slight rise from $692.6 billion recorded as of Sep 30, 2019. Net market gains led to the improvement, partially offset by net outflows.
Invesco’s (IVZ - Free Report) preliminary month-end AUM of $1,195.2 billion for October 2019 increased nearly 1% from the prior month. The rise was primarily driven by foreign exchange, reinvested distributions and favorable market returns.
Legg Mason is expected to report October AUM figures in the next few days.
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Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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Cohen & Steers' October AUM Up on Market Gains & Inflows
Cohen & Steers (CNS - Free Report) reported preliminary assets under management (AUM) of $72 billion as of Oct 31, 2019, up 1.6% from the prior-month level. Market appreciation of $967 million and net inflows of $333 million were partly offset by distributions of $186 million.
The company recorded total institutional accounts of $31.9 billion at the end of the month, up 1% on a sequential basis. Of the total institutional accounts, advisory accounts were $15.5 billion as of Oct 31 while the remaining were subadvisory accounts.
Cohen & Steers recorded $30.4 billion in open-end funds, up 2.7% from the $29.6 billion a month ago. Also, closed-end funds were $9.7 billion, relatively stable sequentially.
With operations across the globe, Cohen & Steers benefits largely from its well-diversified AUM. However, escalating expenses, mainly due to its continued expansion efforts, are expected to keep hindering its bottom-line growth.
Shares of the company have surged 91.4% so far this year, outperforming the 8.9% rally of the industry.
Currently, Cohen & Steers sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Performance and Upcoming Release
Franklin Resources (BEN - Free Report) announced preliminary AUM of $693.1 billion for October 2019. Results displayed a slight rise from $692.6 billion recorded as of Sep 30, 2019. Net market gains led to the improvement, partially offset by net outflows.
Invesco’s (IVZ - Free Report) preliminary month-end AUM of $1,195.2 billion for October 2019 increased nearly 1% from the prior month. The rise was primarily driven by foreign exchange, reinvested distributions and favorable market returns.
Legg Mason is expected to report October AUM figures in the next few days.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>