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

Rhea-AI Summary

Cohen & Steers (NYSE: CNS) reported preliminary assets under management (AUM) of $91.4 billion as of November 30, 2024, representing a $1.7 billion increase from October's $89.7 billion. The growth was primarily driven by market appreciation of $1.9 billion, which was partially offset by distributions of $151 million and net outflows of $98 million.

The AUM breakdown shows Open-end Funds at $43.3 billion, Institutional Accounts at $36.3 billion, and Closed-end Funds at $11.8 billion. Within Institutional Accounts, Advisory accounts held $20.6 billion, Japan Subadvisory $9.3 billion, and Subadvisory excluding Japan $6.4 billion.

Positive

• Total AUM increased by $1.7 billion month-over-month
• Market appreciation contributed $1.9 billion to AUM growth
• Open-end Funds experienced net inflows of $49 million

Negative

• Overall net outflows of $98 million
• Institutional Accounts saw net outflows of $148 million
• Distributions reduced AUM by $151 million

Insights

Financial Analyst

The November AUM report shows mixed signals for Cohen & Steers. The $1.7 billion increase in total AUM to $91.4 billion was primarily driven by market appreciation of $1.9 billion, which reflects positive market conditions. However, the firm experienced net outflows of $98 million, indicating some challenges in client retention and new business acquisition.

The institutional segment, particularly advisory accounts, saw the largest outflows at $123 million, while open-end funds showed modest inflows of $49 million. The Japan Subadvisory business remained relatively stable with minimal outflows, suggesting maintained relationships in this key market. The 1.9% monthly AUM growth is positive but the persistent outflows could be a concern for long-term growth prospects.

Market Research Analyst

Breaking down the AUM composition reveals interesting dynamics. Open-end funds remain the largest segment at $43.3 billion, representing about 47% of total AUM, followed by institutional accounts at $36.3 billion. The positive market appreciation across all segments indicates broad-based market strength, but the continued outflows in institutional accounts could signal competitive pressures in the institutional investment management space.

The relatively small net outflows compared to total AUM (0.11%) suggest stable business fundamentals, though the trend bears watching. The closed-end fund segment showed resilience with minimal flows and positive market appreciation, maintaining its position as a reliable revenue stream for the firm.

NEW YORK, Dec. 9, 2024 /PRNewswire/ -- Cohen & Steers, Inc. (NYSE: CNS) today reported preliminary assets under management of $91.4 billion as of November 30, 2024, an increase of $1.7 billion from assets under management of $89.7 billion at October 31, 2024. The increase was due to market appreciation of $1.9 billion, partially offset by distributions of $151 million and net outflows of $98 million.

Assets Under Management  (unaudited)
($ in millions)	AUM	Net	Market		AUM
By investment vehicle:	10/31/2024	Flows	Appreciation	Distributions	11/30/2024
Institutional Accounts:
Advisory	$20,296	($123)	$390	-	$20,563
Japan Subadvisory	9,049	(2)	357	(56)	9,348
Subadvisory excluding Japan	6,241	(23)	155	-	6,373
Total Institutional Accounts	35,586	(148)	902	(56)	36,284
Open-end Funds	42,485	49	817	(44)	43,307
Closed-end Funds	11,668	1	227	(51)	11,845
Total AUM	$89,739	($98)	$1,946	($151)	$91,436

 

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 in November 2024?

Cohen & Steers reported total assets under management of $91.4 billion as of November 30, 2024.

How much did Cohen & Steers (CNS) AUM increase from October to November 2024?

Cohen & Steers' AUM increased by $1.7 billion from $89.7 billion in October to $91.4 billion in November 2024.

What caused the AUM increase for Cohen & Steers (CNS) in November 2024?

The increase was primarily due to market appreciation of $1.9 billion, partially offset by distributions of $151 million and net outflows of $98 million.