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

Rhea-AI Summary

Cohen & Steers (NYSE: CNS) reported preliminary assets under management (AUM) of $91.8 billion as of September 30, 2024, marking a $3.7 billion increase from August 31, 2024. This growth was primarily driven by market appreciation of $2.6 billion and net inflows of $1.3 billion, partially offset by distributions of $286 million.

The AUM breakdown shows significant growth across all investment vehicles:

• Institutional Accounts: Increased from $35.4 billion to $36.9 billion
• Open-end Funds: Rose from $41.0 billion to $43.0 billion
• Closed-end Funds: Grew from $11.7 billion to $11.9 billion

The largest net inflows were observed in Open-end Funds at $983 million, followed by Institutional Accounts at $337 million.

Positive

• Assets under management increased by $3.7 billion to $91.8 billion
• Market appreciation contributed $2.6 billion to AUM growth
• Net inflows of $1.3 billion across all investment vehicles
• Open-end Funds saw the largest net inflows of $983 million
• All investment vehicle categories experienced growth in AUM

Negative

• Distributions of $286 million partially offset AUM growth

Insights

Financial Analyst

Cohen & Steers' September 2024 AUM report shows positive momentum for the asset management firm. The $3.7 billion increase in AUM to $91.8 billion is driven by both market appreciation ($2.6 billion) and strong net inflows ($1.3 billion). This growth indicates investor confidence and the company's ability to attract capital.

The open-end funds segment performed particularly well, with $983 million in net inflows, suggesting retail investor interest in the firm's products. Institutional accounts also saw positive flows, albeit more modest. The Japan Subadvisory business continues to be a significant contributor, with $9.4 billion in AUM.

This report is likely to be viewed positively by investors, as growing AUM typically translates to higher fee income for asset managers. The strong net inflows, especially in a challenging market environment, demonstrate Cohen & Steers' competitive positioning and product appeal.

Market Research Analyst

The 4.2% month-over-month increase in AUM is a strong indicator of Cohen & Steers' performance. Breaking it down, market appreciation accounted for about 70% of the growth, while net inflows contributed 35%, offset slightly by distributions.

Notably, the firm's diversified product mix is evident, with growth across institutional accounts, open-end funds and closed-end funds. This diversification helps mitigate risk and provides multiple avenues for growth. The significant inflows into open-end funds ($983 million) suggest that Cohen & Steers' investment strategies are resonating with investors in the current market conditions.

For investors, this report signals robust business health and potential for revenue growth. However, it's important to monitor whether this trend continues, as a single month's data doesn't guarantee long-term performance. The firm's ability to maintain positive inflows and market performance will be important for sustained growth.

10/08/2024 - 04:23 PM

NEW YORK, Oct. 8, 2024 /PRNewswire/ -- Cohen & Steers, Inc. (NYSE: CNS) today reported preliminary assets under management of $91.8 billion as of September 30, 2024, an increase of $3.7 billion from assets under management of $88.1 billion at August 31, 2024. The increase was due to market appreciation of $2.6 billion and net inflows of $1.3 billion, partially offset by distributions of $286 million.

Assets Under Management (unaudited)
($ in millions)	AUM	Net	Market		AUM
By investment vehicle:	8/31/2024	Flows	Appreciation	Distributions	9/30/2024
Institutional Accounts:
Advisory	$20,203	$82	$697	-	$20,982
Japan Subadvisory	9,129	20	275	(59)	9,365
Subadvisory excluding Japan	6,096	235	214	-	6,545
Total Institutional Accounts	35,428	337	1,186	(59)	36,892
Open-end Funds	40,984	983	1,188	(176)	42,979
Closed-end Funds	11,688	1	271	(51)	11,909
Total AUM	$88,100	$1,321	$2,645	($286)	$91,780

 

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-september-2024-302270649.html

SOURCE Cohen & Steers, Inc.

FAQ

What was Cohen & Steers' (CNS) total assets under management as of September 30, 2024?

Cohen & Steers reported preliminary assets under management of $91.8 billion as of September 30, 2024.

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

Cohen & Steers' assets under management increased by $3.7 billion from August 31, 2024 to September 30, 2024.

What were the main factors contributing to Cohen & Steers' (CNS) AUM growth in September 2024?

The main factors contributing to AUM growth were market appreciation of $2.6 billion and net inflows of $1.3 billion, partially offset by distributions of $286 million.

Which investment vehicle saw the highest net inflows for Cohen & Steers (CNS) in September 2024?

Open-end Funds saw the highest net inflows of $983 million for Cohen & Steers in September 2024.