CNS Cohen & Steers (CNS) Q1 FY26 earnings call
Cohen & Steers delivered strong Q1 FY26 results, marked by significant net inflows driven by open-end funds and active ETFs, alongside robust investment performance across strategies. The firm's focus on real assets proved beneficial amid geopolitical fracturing and inflation uncertainty, positioning it well for a market regime shift. Management continues to expand its product offerings and distribution channels, while navigating potential headwinds from global conflicts and liquidity concerns in private markets.
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CNS operating KPIs by quarter
| KPI | This call Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Sep 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|---|
| Net new assets | $497MThe first quarter's fundamental highlights include net inflows of $497 million a strong one unfunded pipeline of $1.7 billion, characterized by good velocity with continued fundings and new mandates, stable fee rates strong absolute performance and neutral relative performance, while 1-, 3- and 5-year relative performance continues to be excellent.Source: earnings call transcript | $1.3BWe generated $1.3 billion of net inflows, one of the strongest flow quarters in our recent history, while our institutional pipeline remained robust at $1.6 billion.Source: earnings call transcript | $1.6BWe generated $1.6 billion of net inflows, representing our fifth consecutive quarter of organic growth and our strongest flow period since the fourth quarter of 2021.Source: earnings call transcript | +23.1% |
| Net new assets Multi-strategy real asset | $142MFlow highlights by investment strategy include: multi-strategy real asset inflows totaled $142 million, the best quarter since third quarter of 2022.Source: earnings call transcript | $380MOur multi-strategy real assets portfolio had $380 million in net inflows bringing strategy wide AUM to $3 billion, a compound annual growth rate of 29% since 2021.Source: earnings call transcript | — | +167.6% |
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