Improved Flows and Market Gains in 1Q Set Up Cohen & Steers for Slightly Better Near-Term Results
While there was little in narrow-moat rated Cohen & Steers' first-quarter results that would alter our long-term view of the firm, we are likely to increase our fair value estimate slightly to reflect a somewhat stronger first quarter than we were projecting. The company closed out the March quarter with $62.6 billion in total assets under management, up 14.3% sequentially and 7.1% on a year-over-year basis. Net inflows of $1.0 billion reversed the outflows that plagued the firm during the t...Cohen & Steers is a holding company. Through its subsidiaries, the company is an investment manager focusing on liquid real assets, including real estate securities, listed infrastructure, commodities and natural resource equities, as well as preferred securities and other income solutions. The company manages three types of investment vehicles: institutional accounts, which represent portfolios of securities it manages for institutional clients; open-end funds, which provide and issue shares continuously as assets are invested and redeem shares when assets are withdrawn; and closed-end funds, which are registered investment companies that have issued a fixed number of shares through public offerings.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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