CNS Cohen & Steers (CNS) Q2 FY26 earnings call
Cohen & Steers delivered a strong second quarter, marked by significant net inflows and AUM growth, primarily driven by robust demand for U.S. real estate, preferred securities, and global listed infrastructure strategies. The firm's strategic growth initiatives, including its active ETF platform and offshore funds, continue to gain momentum, contributing to an improved operating margin. Management remains optimistic about the sustained interest in real assets and the firm's ability to capture market share.
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CNS operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | This call 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% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.