Time New York: Tue 11 Dec 10:48 am  |  Save 15% on H&R Block Online

  
caticonslite_bm_alt

Cohen & Steers September AUM Down on Unfavorable Markets

Zacks

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.

Today's Stocks from Zacks' Hottest Strategies

It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.

And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 – 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.

See Them Free>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

To read this article on Zacks.com click here.

Zacks Investment Research
<-- You can share this post with your network,
or give us your opinion and leave a comment.
Be sure to check our RSS feeds for updates.