Cohen & Steers' (CNS) January AUM Rises On Upbeat Markets

Cohen & Steers (NYSE:CNS) has reported preliminary assets under management (AUM) of $60 billion as of Jan 31, 2019, up 9.5% from the prior-month level. Market appreciation of $5 billion and net inflows of $427 million, partly offset by distributions of $200 million, drove this upswing.

The company recorded total institutional accounts of $28.2 billion at the end of January, up 9.7% on a sequential basis. Of the total institutional accounts, advisory accounts were $13.3 billion as of Jan 31, while the remaining were sub-advisory accounts.

Cohen & Steers recorded $22.8 billion in open-end funds, up 10.1% from the $20.7 billion recorded a month ago. Also, close-end funds came in at $9 billion, up 7.1% from December.

With operations at a global level, Cohen & Steers benefits greatly from its well diversified AUM. The company’s widespread product offerings and investment strategies continue to attract investors, in turn, supporting revenue growth. However, mounting expenses, mainly due to its continuous expansion efforts, will likely hamper bottom-line growth to some extent.

Currently, Cohen & Steers carries a Zacks Rank #4 (Sell). Shares of the company have gained around 1.9%, over the last three months, compared with 0.8% growth recorded by the industry.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Among other asset managers, Invesco Ltd.’s (NYSE:IVZ) AUM as of Jan 31, 2019, came in at $930.6 billion, up nearly 4.8% from the previous month. Favorable market returns, higher money market AUM and reinvested distributions were primary reasons behind the rise in total AUM. Moreover, foreign exchange boosted the month’s AUM by $4.9 billion. However, these were partially offset by net long-term outflows and non-management fee earning AUM outflows.

Further, T. Rowe Price Group, Inc. (NASDAQ:TROW) and Legg Mason Inc. (NYSE:LM) are expected to release preliminary AUM results for January 2019, later this week.

Zacks' Best Stock-Picking Strategy

It's hard to believe, even for us at Zacks. But from 2000-2018, while the market gained +4.8% per year, our top stock-picking strategy averaged +54.3% per year.

How has that screen done lately? From 2017-2018, it sextupled the market's +15.8% gain with a soaring +98.3% return.

Free – See the Stocks It Turned Up for Today >>