Company: CNS
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001284812-25-000156
Chunk: 30

Company: COHEN & STEERS, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 1
Chunk 30
---
871 14.6 %Institutional accounts32,167 30,352 $1,815 6.0 %Closed-end funds24,946 24,206 $740 3.1 %Total126,771 115,345 $11,426 9.9 %Distribution and service fees7,184 6,817 $367 5.4 %Other512 548 $(36)(6.6)%Total revenue$134,467 $122,710 $11,757 9.6 %

Investment advisory and administration fees increased from the three months ended March 31, 2024, primarily due to higher average assets under management.

Total investment advisory and administration revenue from open-end funds compared with average assets under management implied an annualized effective fee rate of 67.6 bps and 66.2 bps for the three months ended March 31, 2025 and 2024, respectively. The increase in the implied annual effective fee rate is primarily due to a shift in the mix of assets under management.

Total investment advisory revenue from institutional accounts compared with average assets under management implied an annualized effective fee rate of 38.8 bps and 37.8 bps for the three months ended March 31, 2025 and 2024, respectively. The increase in the implied annual effective fee rate is primarily due to a shift in the mix of assets under management, partially offset by net outflows from higher fee paying accounts.

Total investment advisory and administration revenue from closed-end funds compared with average assets under management implied an annualized effective fee rate of 89.1 bps and 88.8 bps for the three months ended March 31, 2025 and 2024, respectively.

23

Expenses(in thousands)Three Months Ended March 31,20252024$ Change% ChangeEmployee compensation and benefits$54,554 $52,003 $2,551 4.9 %Distribution and service fees15,189 13,395 $1,794 13.4 %General and administrative17,169 14,793 $2,376 16.1 %Depreciation and amortization2,357 2,254 $103 4.6 %Total expenses$89,269 $82,445 $6,824 8.3 %

Employee compensation and benefits increased from the