News

Cohen & Steers, Inc. CNS reported preliminary assets under management (AUM) of $77.2 billion as of Apr 30, 2024. This reflected a decline of 4.9% from the prior month's level.

The decrease was due to market depreciation of $3.9 billion, net outflows of $74 million and distributions of $151 million.

Cohen & Steers recorded total institutional accounts of $30.6 billion at the end of April 2024, falling 5.5% from the March 2024-end level. Of the total institutional accounts, advisory accounts were $17.4 billion, while the rest were sub-advisory.

Closed-end funds were $10.7 billion, down 3.4% from the March 2024-end level. Further, Open-end funds were $35.8 billion, which declined 5.1% from the previous month.

CNS’ diverse product offerings, global reach and investment strategies are expected to support its financials. A solid AUM balance is likely to continue supporting the top line. However, a challenging operating environment is a major near-term headwind, which might hurt its financials to some extent.

Over the past six months, Cohen & Steers shares have gained 35.5% compared with the industry’s growth of 26.3%.

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Competitive Landscape

We now look forward to the monthly performance metrics of Invesco IVZ and Franklin Resources BEN, which are expected to release results in the coming days.

The Zacks Consensus Estimate for IVZ’s 2024 earnings has been unchanged over the past seven days. The consensus estimate for BEN’s current-fiscal-year earnings has been revised marginally lower over the past seven days.

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