Cohen & Steers Q1 AUM Rises to $94.4B with $497M Inflows and $224M ETF Flows
Cohen & Steers reported Q1 operating income of $50.7 million, down from $52.4 million, with operating margin declining to 35.1% and an as-adjusted tax rate of 25.5%. The firm’s average AUM rose to $94.4 billion on $497 million net inflows and $224 million net flows into active ETFs.
1. Q1 Financial Results
Cohen & Steers reported Q1 operating income of $50.7 million, down from $52.4 million the prior quarter. Total expenses rose due to higher compensation and distribution fees, which drove operating margin down to 35.1%, and the as-adjusted tax rate was 25.5%.
2. Asset Growth and Fund Ratings
Average assets under management climbed to $94.4 billion from $90.8 billion, fueled by $497 million in net inflows and market appreciation. The firm’s open-end fund AUM maintained strong quality, with 95% receiving top-tier ratings, up from 90% last quarter.
3. Growth Initiatives and Outlook
Active ETFs attracted $224 million in net flows as demand grew among RIAs and institutional clients. Management highlighted a $1.7 billion advisory pipeline and strong performance in non-traded REIT and global real estate products, underscoring a positive outlook for continued expansion.