Cohen & SteersCNS reported preliminary assets under management (AUM) of $61.3 billion as of Aug 31, 2018, up 1.3% from the prior-month level. Market appreciation of $910 million and net inflows of $71 million were partially offset by distributions of $207 million.
The company recorded total institutional accounts of $28.5 billion at the end of August, up nearly 1% on a sequential basis. Of the total institutional accounts, advisory accounts were $12.5 billion as of Aug 31 while the remaining were subadvisory accounts.
Cohen & Steers recorded $23.6 billion in open-end funds, jumping 2.2% from the $23.1 billion recorded a month ago. Also, close-end funds came in at $9.2 billion, up marginally from July.
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.
Shares of the company have rallied 11.1% over the past year against 2.1% decline for the industry it belongs to.
Cohen & Steers currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
Among other investment managers, Franklin Resources BEN announced preliminary AUM by its subsidiaries of $722.4 billion for August. Results reflect a decline of 1.5% from $733.7 billion recorded as of Jul 31. The fall was primarily due to market declines and net outflows.
Notably, Invesco IVZ and Federated Investors, Inc. FII will likely come out with their respective monthly numbers soon.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportFederated Investors, Inc. (FII): Free Stock Analysis ReportCohen & Steers Inc (CNS): Free Stock Analysis ReportInvesco Ltd. (IVZ): Free Stock Analysis ReportFranklin Resources, Inc. (BEN): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research