Cohen & Steers Announces Preliminary Assets Under Management and Net Flows For May 2024

Rhea-AI Summary

Cohen & Steers (NYSE: CNS) reported its preliminary assets under management (AUM) for May 2024, totaling $80.5 billion as of May 31, 2024, up from $77.2 billion in April 2024.

This represents an increase of $3.3 billion primarily due to market appreciation of $3.6 billion. However, this was partly offset by distributions of $150 million and net outflows amounting to $93 million.

By investment vehicle, institutional accounts saw a growth to $32.1 billion, open-end funds to $37.3 billion, and closed-end funds to $11.1 billion.

Positive

• AUM increased by $3.3 billion, reaching $80.5 billion as of May 31, 2024.
• Market appreciation contributed positively with a $3.6 billion increase.
• Institutional accounts' AUM rose to $32.1 billion.
• Open-end funds' AUM grew to $37.3 billion.
• Closed-end funds' AUM increased to $11.1 billion.

Negative

• Distributions amounted to $150 million, reducing the overall AUM growth.
• Net outflows were $93 million, impacting total AUM.
• Japan subadvisory accounts experienced a net outflow of $84 million.

Insights

Financial Analyst

Cohen & Steers' Assets Under Management (AUM) saw a significant uptick in May 2024, increasing by $3.3 billion to $80.5 billion. This rise was primarily driven by market appreciation of $3.6 billion, despite facing net outflows and distributions amounting to $243 million. For retail investors, it’s important to understand that AUM is a important metric for investment firms as it directly impacts revenue through management fees. The higher the AUM, the more fees the firm can collect, positively influencing their profitability.

However, net outflows of $93 million might raise some concerns. Net outflows occur when the amount of money leaving funds exceeds the amount coming in, potentially signaling investor concerns or redemptions. This might reflect a seasonal pattern or changing investor sentiment.

An interesting point is the appreciation in open-end funds by $1.6 billion. Open-end funds are mutual funds that have no restrictions on the number of shares they can issue. Performance here can be a good indicator of investor confidence and market conditions.

Given the solid market appreciation but presence of net outflows, this report is likely to be seen as a mixed bag by investors, with a slight positive skew owing to the overall increase in AUM.

Market Research Analyst

From a market perspective, the increase in AUM for Cohen & Steers suggests that their investment portfolios have performed well over the past month. The market appreciation of $3.6 billion indicates that the underlying assets have increased in value, likely due to favorable market conditions or strong performance of the assets held in their funds.

Despite this, net outflows of $93 million are noteworthy. Net outflows can sometimes be indicative of investors reallocating their portfolios or moving to other investment vehicles. This could be a point of concern for retail investors if it indicates a trend rather than a one-off event.

In terms of distribution, the company reported $150 million in distributions. Distributions usually refer to payouts made to investors, which can include dividends or returns of capital. This is generally positive from an investor's perspective, as it shows the company is generating returns and distributing them.

For retail investors, understanding these nuances is key. The positive market appreciation balances out the negative net outflows, providing a moderately positive outlook on Cohen & Steers' performance.

NEW YORK, June 10, 2024 /PRNewswire/ -- Cohen & Steers, Inc. (NYSE: CNS) today reported preliminary assets under management of $80.5 billion as of May 31, 2024, an increase of $3.3 billion from assets under management of $77.2 billion at April 30, 2024. The increase was due to market appreciation of $3.6 billion, partially offset by distributions of $150 million and net outflows of $93 million.

Assets Under Management (unaudited)
($ in millions)	AUM	Net	Market		AUM
By investment vehicle:	4/30/2024	Flows	Appreciation	Distributions	5/31/2024
Institutional Accounts:
Advisory	$17,377	$61	$823	-	$18,261
Japan Subadvisory	7,890	(84)	463	(55)	8,214
Subadvisory excluding Japan	5,378	(7)	276	-	5,647
Total Institutional Accounts	30,645	(30)	1,562	(55)	32,122
Open-end Funds	35,769	(64)	1,623	(44)	37,284
Closed-end Funds	10,746	1	386	(51)	11,082
Total AUM	$77,160	($93)	$3,571	($150)	$80,488

About Cohen & Steers. Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Dublin, Hong Kong, Tokyo and Singapore.

View original content:https://www.prnewswire.com/news-releases/cohen--steers-announces-preliminary-assets-under-management-and-net-flows-for-may-2024-302168649.html

SOURCE Cohen & Steers, Inc.

FAQ

What was Cohen & Steers' AUM as of May 31, 2024?

As of May 31, 2024, Cohen & Steers' AUM was $80.5 billion.

How much did Cohen & Steers' AUM increase in May 2024?

Cohen & Steers' AUM increased by $3.3 billion in May 2024.

What contributed to the increase in Cohen & Steers' AUM in May 2024?

The increase was primarily due to market appreciation of $3.6 billion.

What were the net outflows for Cohen & Steers in May 2024?

Cohen & Steers experienced net outflows of $93 million in May 2024.

What were the distributions for Cohen & Steers in May 2024?

Distributions amounted to $150 million in May 2024.

How much did the institutional accounts' AUM increase in May 2024?

Institutional accounts' AUM increased to $32.1 billion in May 2024.

What was the AUM for open-end funds as of May 31, 2024?

The AUM for open-end funds was $37.3 billion as of May 31, 2024.

What was the AUM for closed-end funds as of May 31, 2024?

The AUM for closed-end funds was $11.1 billion as of May 31, 2024.