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

Rhea-AI Summary

Cohen & Steers (NYSE: CNS) reported preliminary assets under management (AUM) of $84.6 billion as of July 31, 2024, marking a $3.9 billion increase from June 30, 2024. This growth was primarily driven by market appreciation of $4.1 billion, partially offset by distributions of $153 million and net outflows of $45 million.

The company's AUM breakdown shows:

• Institutional Accounts: $33.8 billion
• Open-end Funds: $39.4 billion
• Closed-end Funds: $11.4 billion

Notably, Open-end Funds experienced positive net flows of $156 million, while Institutional Accounts saw net outflows of $202 million.

Positive

• Total assets under management increased by $3.9 billion to $84.6 billion
• Market appreciation contributed $4.1 billion to AUM growth
• Open-end Funds saw positive net flows of $156 million

Negative

• Overall net outflows of $45 million
• Institutional Accounts experienced net outflows of $202 million
• Distributions reduced AUM by $153 million

Insights

Financial Analyst

Cohen & Steers' July 2024 AUM report reveals a significant increase of $3.9 billion, reaching $84.6 billion. This 4.8% month-over-month growth is primarily driven by market appreciation of $4.1 billion, offsetting minor net outflows and distributions. The company's diverse portfolio, spanning institutional accounts, open-end funds and closed-end funds, demonstrates resilience in a volatile market.

Notably, open-end funds saw positive net inflows of $156 million, indicating investor confidence. However, the slight net outflow of $45 million across all categories suggests some challenges in retaining assets. The Japan Subadvisory segment experienced the largest outflows, which could be a point of concern for future growth in that market.

Overall, this report signals strong market performance for Cohen & Steers' managed assets, potentially leading to increased fee revenue. Investors should monitor future reports to identify consistent growth trends and the company's ability to attract and retain assets across all segments.

Market Research Analyst

The July 2024 AUM report for Cohen & Steers offers valuable insights into current market trends. The substantial market appreciation of $4.1 billion across all investment vehicles suggests a bullish sentiment in the real estate and infrastructure sectors, which are the firm's primary focus areas.

Interestingly, while institutional accounts faced net outflows, open-end funds attracted new investments, potentially indicating a shift in investor preferences towards more liquid and accessible investment options. This trend could reflect broader market dynamics where retail investors are becoming increasingly active.

The resilience of closed-end funds, with minimal outflows and significant appreciation, underscores the continued appeal of these products in a rising market environment. As we move forward, it will be important to monitor how these trends evolve, particularly in light of potential economic shifts and regulatory changes that could impact various investment vehicles differently.

NEW YORK, Aug. 8, 2024 /PRNewswire/ -- Cohen & Steers, Inc. (NYSE: CNS) today reported preliminary assets under management of $84.6 billion as of July 31, 2024, an increase of $3.9 billion from assets under management of $80.7 billion at June 30, 2024. The increase was due to market appreciation of $4.1 billion, partially offset by distributions of $153 million and net outflows of $45 million.

Assets Under Management (unaudited)
($ in millions)	AUM	Net	Market		AUM
By investment vehicle:	6/30/2024	Flows	Appreciation	Distributions	7/31/2024
Institutional Accounts:
Advisory	$18,367	($66)	$991	-	$19,292
Japan Subadvisory	8,309	(77)	481	(57)	8,656
Subadvisory excluding Japan	5,546	(59)	329	-	5,816
Total Institutional Accounts	32,222	(202)	1,801	(57)	33,764
Open-end Funds	37,451	156	1,858	(45)	39,420
Closed-end Funds	11,036	1	405	(51)	11,391
Total AUM	$80,709	($45)	$4,064	($153)	$84,575

 

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.

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SOURCE Cohen & Steers, Inc.

FAQ

What was Cohen & Steers' (CNS) total assets under management as of July 31, 2024?

Cohen & Steers (CNS) reported total assets under management of $84.6 billion as of July 31, 2024.

How much did Cohen & Steers' (CNS) assets under management increase from June to July 2024?

Cohen & Steers' (CNS) assets under management increased by $3.9 billion from June 30, 2024 to July 31, 2024.

What was the main driver of Cohen & Steers' (CNS) AUM growth in July 2024?

The main driver of Cohen & Steers' (CNS) AUM growth in July 2024 was market appreciation, which contributed $4.1 billion.

Did Cohen & Steers (CNS) experience net inflows or outflows in July 2024?

Cohen & Steers (CNS) experienced overall net outflows of $45 million in July 2024.