Company: CNS
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001284812-25-000299
Chunk: 30

Company: COHEN & STEERS, INC.
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 1
Chunk 30
---
 that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars and the bottom 10% receive one star. Past performance is no guarantee of future results. Based on independent rating by Morningstar, Inc. of investment performance of each Cohen & Steers-sponsored open-end U.S.-registered mutual fund for all share classes for the overall period at September 30, 2025. Overall Morningstar rating is a weighted average based on the 3-year, 5-year and 10-year Morningstar rating. Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages. This is not investment advice and may not be construed as sales or marketing material for any financial product or service sponsored or provided by Cohen & Steers.

Assets Under Management

Below is a discussion of our assets under management for the quarter ended September 30, 2025. For additional details, please refer to the tables on pages 20 - 23.

Assets under management at September 30, 2025 decreased 1.0% to $90.9 billion from $91.8 billion at September 30, 2024.

Open-end funds 

Assets under management in open-end funds at September 30, 2025 increased 3.4% to $44.4 billion from $43.0 billion at September 30, 2024. Activity during the nine months ended September 30, 2025 included:

•Net inflows of $1.6 billion including $1.0 billion into U.S. real estate

18

•Market appreciation of $2.8 billion including $1.4 billion from U.S. real estate and $688 million from preferred securities

•Distributions of $1.0 billion including $533 million from U.S. real estate and $390 million from preferred securities, of which $793 million was reinvested and included in net flows

Institutional accounts

Assets under management in institutional accounts at September 30, 2025 decreased 5.9% to $34.7 billion from $36.9 billion at September 30, 2024. Activity during