MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, July 22, 2010 Cohen & Steers Sees a Drop in Fund AUM Cohen & Steers, Inc. yesterday reported a drop in assets in its open-end mutual funds. The New York City-based REIT fund specialist ended June with assets of $6.6 billion, a decrease of 5.2 percent from $7 billion at the end of March and an increase of 55.6 percent from $4.2 billion at June 30, 2009. The company said the decrease from March 31 was due to "market depreciation of $538 million partially offset by net inflows of $175 million." On a brighter note, the firm reported total revenue of $44.2 million for the three months ended June 30, an increase of 7.0 percent from $41.3 million for the three months ended March 31. The firm's shareholders also got a dose of good news after the firm reported income attributable to common shareholders of $11.6 million, or $0.27 per share (diluted and basic), for the quarter ended June 30, compared with a loss of $6.4 million, or $0.15 per share (diluted and basic), for the quarter ended June 30, 2009. Overall, Cohen & Steers reported AUM of $26.2 billion as of the end of June 30, which was a slight decrease from its reported AUM of $27.2 billion at the end of March. The firm cited market depreciation as the main culprit for the AUM loss. Printed from: MFWire.com/story.asp?s=32890 Copyright 2010, InvestmentWires, Inc. All Rights Reserved |