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Franklin Resources, Inc. (BEN) - free report >>
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Cohen & Steers' (CNS) October AUM Improves on Solid Inflows
Cohen & Steers (CNS - Free Report) reported preliminary assets under management (AUM) of $71.3 billion as of Oct 31, 2020, which increased 1% from the prior-month level. Net inflows of $2 billion were partially offset by market depreciation of $1.1 billion and distributions of $219 million.
The company recorded total institutional accounts of $30.1 billion at the end of October, down 1% from the September-end level. Of the total institutional accounts, advisory accounts were $16.1 billion, while the rest were sub-advisory.
Cohen & Steers recorded $31.3 billion in open-end funds, down 0.4% from a month ago. However, close-end funds were $9.9 billion, which grew 13.1% from September 2020.
Cohen & Steers’ widespread product offerings, global reach and investment strategies continue to attract investors, in turn, supporting revenue growth. However, mounting expenses are likely to impede bottom-line growth to some extent.
Shares of the company have lost 5.8% so far this year against 3% growth recorded by the industry it belongs to.
Currently, Cohen & Steers carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Among other asset managers, Franklin Resources (BEN - Free Report) , Invesco (IVZ - Free Report) and T. Rowe Price (TROW - Free Report) are expected to release preliminary AUM results for October in the coming days.
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