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Cohen & Steers September AUM Down on Unfavorable Markets


Cohen & Steers CNS reported preliminary assets under management (AUM) of $60.1 billion as of Sep 30, 2018, down 2% from the prior-month level. Market depreciation of $806 million and net outflows of $75 million and distributions of $333 million were the reasons for the decline.

The company recorded total institutional accounts of $27.7 billion at the end of September, down 2.8% on a sequential basis. Of the total institutional accounts, advisory accounts were $12.4 billion as of Sep 30 while the remaining were subadvisory accounts.

Cohen & Steers recorded $23.3 billion in open-end funds, falling 1.3% from the $23.6 billion recorded a month ago. Also, close-end funds came in at $9.1 billion, down 1.3% from August.

With operations at a global level, Cohen & Steers benefits greatly from its well diversified AUM. The company’s widespread product offerings and investment strategies continue to attract investors, in turn, supporting revenue growth. However, mounting expenses, mainly due to its continuous expansion efforts will likely hamper bottom-line growth to some extent.

Shares of the company have rallied 4% over the past year against 4.3% 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 BEN announced preliminary AUM by its subsidiaries of $717.1 billion for September. Results reflect a decline of nearly 1% from $722.4 billion recorded as of Aug 31. The fall was primarily due to market declines and net outflows.

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

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