Cohen & Steers Announces Preliminary Assets Under Management and Net Flows for January 2025
Cohen & Steers (NYSE: CNS) reported preliminary assets under management (AUM) of $86.4 billion as of January 31, 2025, representing an increase of $598 million from December 31, 2024's $85.8 billion. The growth was attributed to market appreciation of $960 million, which was partially offset by distributions of $149 million and net outflows of $213 million.
Breaking down the changes by investment vehicle: Open-end Funds increased to $41.5 billion, Institutional Accounts remained relatively stable at $33.6 billion, and Closed-end Funds stood at $11.3 billion. Notable movements included positive flows in Japan Subadvisory ($28 million) and Open-end Funds ($133 million), while Subadvisory excluding Japan experienced significant outflows of $458 million.
Cohen & Steers (NYSE: CNS) ha riportato un patrimonio gestito (AUM) preliminare di 86,4 miliardi di dollari al 31 gennaio 2025, rappresentando un incremento di 598 milioni di dollari rispetto ai 85,8 miliardi di dollari del 31 dicembre 2024. La crescita è stata attribuita a un apprezzamento del mercato di 960 milioni di dollari, parzialmente compensato da distribuzioni di 149 milioni di dollari e deflussi netti di 213 milioni di dollari.
Analizzando i cambiamenti per veicolo di investimento: i Fondi aperti sono aumentati a 41,5 miliardi di dollari, i Conti Istituzionali sono rimasti relativamente stabili a 33,6 miliardi di dollari e i Fondi chiusi si sono attestati a 11,3 miliardi di dollari. Movimenti significativi includono flussi positivi nei Subconsulenti in Giappone (28 milioni di dollari) e nei Fondi aperti (133 milioni di dollari), mentre i Subconsulenti escluso il Giappone hanno registrato deflussi consistenti di 458 milioni di dollari.
Cohen & Steers (NYSE: CNS) reportó activos bajo gestión (AUM) preliminares de 86.4 mil millones de dólares al 31 de enero de 2025, lo que representa un aumento de 598 millones de dólares respecto a los 85.8 mil millones de dólares del 31 de diciembre de 2024. Este crecimiento se atribuyó a una apreciación del mercado de 960 millones de dólares, que fue parcialmente compensada por distribuciones de 149 millones de dólares y salidas netas de 213 millones de dólares.
Desglosando los cambios por vehículo de inversión: los Fondos abiertos aumentaron a 41.5 mil millones de dólares, las Cuentas Institucionales se mantuvieron relativamente estables en 33.6 mil millones de dólares, y los Fondos cerrados se situaron en 11.3 mil millones de dólares. Los movimientos destacados incluyeron flujos positivos en Subasesorías en Japón (28 millones de dólares) y Fondos abiertos (133 millones de dólares), mientras que las Subasesorías excluyendo Japón experimentaron salidas significativas de 458 millones de dólares.
Cohen & Steers (NYSE: CNS)는 2025년 1월 31일 기준으로 864억 달러의 초기운용자산(AUM)을 보고했으며, 이는 2024년 12월 31일 858억 달러에서 5억 9800만 달러 증가한 수치입니다. 이 성장은 시장 가치 상승으로 인한 9억 6000만 달러에 기인하며, 부분적으로 1억 4900만 달러의 분배와 2억 1300만 달러의 순유출로 상쇄되었습니다.
투자 수단별 변화 분석: 공모펀드는 415억 달러로 증가하였고, 기관 계좌는 336억 달러로 상대적으로 안정세를 보였으며, 폐쇄형 펀드는 113억 달러에 달했습니다. 주목할 만한 변동은 일본 자문단에서의 긍정적인 유입(2800만 달러)과 공모 펀드(1억 3300만 달러)에서 나타났고, 일본을 제외한 자문단에서는 4억 5800만 달러의 significant한 유출이 발생했습니다.
Cohen & Steers (NYSE: CNS) a rapporté des actifs sous gestion (AUM) préliminaires de 86,4 milliards de dollars au 31 janvier 2025, représentant une augmentation de 598 millions de dollars par rapport aux 85,8 milliards de dollars au 31 décembre 2024. Cette croissance a été attribuée à une appréciation du marché de 960 millions de dollars, partiellement compensée par des distributions de 149 millions de dollars et des sorties nettes de 213 millions de dollars.
En décomposant les changements par véhicule d'investissement : les Fonds ouverts ont augmenté à 41,5 milliards de dollars, les Comptes institutionnels sont restés relativement stables à 33,6 milliards de dollars et les Fonds fermés se sont établis à 11,3 milliards de dollars. Les mouvements notables comprenaient des flux positifs au Japon (28 millions de dollars) et dans les Fonds ouverts (133 millions de dollars), tandis que le Sous-Conseil excluant le Japon a connu des sorties significatives de 458 millions de dollars.
Cohen & Steers (NYSE: CNS) meldete zum 31. Januar 2025 vorläufige verwaltete Vermögenswerte (AUM) von 86,4 Milliarden Dollar, was einen Anstieg von 598 Millionen Dollar gegenüber den 85,8 Milliarden Dollar vom 31. Dezember 2024 darstellt. Das Wachstum wurde auf eine Marktaufwertung von 960 Millionen Dollar zurückgeführt, die teilweise durch Auszahlungen von 149 Millionen Dollar und netto Abflüsse von 213 Millionen Dollar ausgeglichen wurde.
Eine detaillierte Aufschlüsselung der Änderungen nach Anlagevehikel zeigt: Offene Fonds stiegen auf 41,5 Milliarden Dollar, Institutionelle Konten blieben mit 33,6 Milliarden Dollar relativ stabil und Geschlossene Fonds beliefen sich auf 11,3 Milliarden Dollar. Zu den bemerkenswerten Bewegungen gehören positive Zuflüsse im Japan Subadvisory (28 Millionen Dollar) und in den Offenen Fonds (133 Millionen Dollar), während das Subadvisory ohne Japan erhebliche Abflüsse von 458 Millionen Dollar verzeichnete.
- Market appreciation of $960 million in January 2025
- Total AUM increased by $598 million to $86.4 billion
- Positive net flows in Open-end Funds ($133 million)
- Growth in Japan Subadvisory with positive flows of $28 million
- Overall net outflows of $213 million
- Significant outflows of $458 million in Subadvisory excluding Japan
- Distributions reduced AUM by $149 million
Insights
The January 2025 AUM report for Cohen & Steers reveals important insights into the firm's business dynamics. The $598 million total AUM increase masks some underlying challenges and opportunities:
The growth composition is particularly noteworthy - market appreciation of $960 million drove the increase, while organic growth remained negative with net outflows of $213 million. This reliance on market performance rather than new business acquisition could be a concern for long-term growth sustainability.
Segment analysis reveals divergent trends:
- Open-end funds demonstrated strength with $133 million in net inflows, suggesting continued retail investor confidence
- The significant outflows of $458 million from non-Japan subadvisory business signals potential institutional client concerns or reallocation decisions
- Japan subadvisory's modest $28 million inflow indicates stability in Asian operations
For asset managers, market-driven AUM growth typically generates lower incremental revenue compared to organic growth through net inflows, as fee rates on new mandates often exceed those on existing assets. The 0.7% monthly AUM increase appears modest compared to broader market gains, suggesting potential market share challenges.
The continued outflows in certain segments may pressure management fee revenues, though the diversity of investment vehicles provides some resilience. The firm's ability to retain and grow assets in the open-end fund segment demonstrates product strength in the retail channel, partially offsetting institutional challenges.
Assets Under Management | |||||
($ in millions) | AUM | Net | Market | AUM | |
By investment vehicle: | 12/31/2024 | Flows | Appreciation | Distributions | 1/31/2025 |
Institutional Accounts: | |||||
Advisory | - | ||||
Japan Subadvisory | 8,522 | 28 | 102 | (54) | 8,598 |
Subadvisory excluding | 5,769 | (458) | 70 | - | 5,381 |
Total Institutional Accounts | 33,563 | (347) | 415 | (54) | 33,577 |
Open-end Funds | 40,962 | 133 | 459 | (44) | 41,510 |
Closed-end Funds | 11,289 | 1 | 86 | (51) | 11,325 |
Total AUM | ( | ( | |||
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
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SOURCE Cohen & Steers, Inc.
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