Cohen & Steers (CNS) November AUM Rises 1.3% On Market Gains

Cohen & Steers (NYSE:CNS) reported preliminary assets under management (AUM) of $58.6 billion as of Nov 30, 2018, up 1.3% from the prior-month level. Market appreciation of $1.5 billion was partially offset by outflows of $530 million and distributions of $198 million.

The company recorded total institutional accounts of $27 billion at the end of November, up 1.6% sequentially. Of the total institutional accounts, advisory accounts were $12.2 billion as of Nov 30 while the remaining were subadvisory accounts.

Cohen & Steers recorded $22.7 billion in open-end funds, growing 1.2% from the $22.4 billion recorded a month ago. Close-end funds came in at $8.9 billion, up nearly 1% from October.

With operations at a global level, Cohen & Steers benefits greatly from its well diversified AUM. However, mounting expenses, mainly due to its continuous expansion efforts will likely hamper bottom-line growth to some extent.

Shares of the company have lost 23.4% so far this year compared with 25% decline for the industry it belongs to.



Cohen & Steers currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Among other investment managers, Franklin Resources (NYSE:BEN) announced preliminary AUM by its subsidiaries of $683.3 billion for November. Results reflect a marginal improvement from $682.7 billion recorded as of Oct 31. The rise was primarily driven by net market gains.

Notably, Invesco (NYSE:IVZ) and Federated Investors, Inc. (NYSE:FII) are likely to come out with their monthly numbers soon.

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Invesco Ltd. (IVZ): Free Stock Analysis Report

Federated Investors, Inc. (FII): Free Stock Analysis Report

Cohen & Steers Inc (CNS): Free Stock Analysis Report

Franklin Resources, Inc. (BEN): Free Stock Analysis Report

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