Cohen & Steers (CNS Quick QuoteCNS - Free Report) reported preliminary assets under management (AUM) of $63.8 billion as of May 31, 2020, which increased 2.7% from the prior-month level. Market appreciation of $1.4 billion and net inflows of $428 million were partially offset by distributions of $199 million.

The company recorded total institutional accounts of $28 billion at the end of May, up 3.6% on a sequential basis. Of the total institutional accounts as of May 31, advisory accounts were $14.8 billion, while the rest were sub-advisory.

Cohen & Steers recorded $27.3 billion in open-end funds, up 1.7% from $26.8 billion a month ago. Also, close-end funds came in at $8.6 billion, which grew 2.7% from April 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.

Shares of the company have rallied 17.3% so far this year against 2% decline of the industry it belongs to.


 

Currently, Cohen & Steers sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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

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