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Cohen & Steers' (CNS) April AUM Up on Solid Markets, Inflows

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Cohen & Steers (CNS - Free Report) reported preliminary assets under management (AUM) of $62.1 billion as of Apr 30, 2020, which increased 8.3% from the prior-month level. Market appreciation of $4.2 billion and net inflows of $744 million were partially offset by distributions of $198 million.

The company recorded total institutional accounts of $27 billion at the end of April, up 7.8% on a sequential basis. Of the total institutional accounts as of Apr 30, advisory accounts were $14.1 billion, while the rest were sub-advisory.

Cohen & Steers recorded $26.8 billion in open-end funds, up 9.1% from $24.6 billion a month ago. Also, close-end funds came in at $8.3 billion, which grew 7.4% from March 2020.

Cohen & Steers’ widespread product offerings, global reach and investment strategies continue to attract investors, in turn supporting revenue growth. However, mounting expenses will likely impede bottom-line growth to some extent. Further, the current tough operating backdrop is a matter of concern.

Shares of the company have rallied 1.8% so far this year against 14.5% decline of the industry it belongs to.



Currently, Cohen & Steers carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Among other asset managers, Franklin Resources, Inc. (BEN - Free Report) , Invesco Ltd. (IVZ - Free Report) and Legg Mason Inc. (LM - Free Report) are expected to release preliminary AUM results for April in the coming days.

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Franklin Resources, Inc. (BEN) - free report >>

Legg Mason, Inc. (LM) - free report >>

Invesco Ltd. (IVZ) - free report >>

Cohen Steers Inc (CNS) - free report >>