Company: CNS
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001284812-25-000156
Chunk: 50

Company: COHEN & STEERS, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 50
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 launch included three strategies: U.S. real estate securities, preferred securities and natural resource equities.  

Our distribution network encompasses two major channels, wealth and institutional. Our wealth channel includes registered investment advisers, wirehouses, independent and regional broker dealers and bank trusts. Our institutional channel includes sovereign wealth funds, corporate plans, insurance companies and public funds, including defined benefit and defined contribution plans, as well as other financial institutions that access our investment management services directly or through consultants and other intermediaries.

Our revenue from the wealth channel is derived from investment advisory, administration, distribution and service fees from open-end and closed-end funds as well as other commingled vehicles. Our revenue from the institutional channel is derived from fees received from our clients for managing advised and subadvised accounts. Our fees are based on contractually specified rates applied to the value of the assets we manage and, in certain cases, may include a performance-based fee. Our revenue fluctuates with changes in the total value of our assets under management, which may occur as a result of market appreciation and depreciation, contributions to or withdrawals from investor accounts and distributions. This revenue is recognized over the period that the assets are managed.

Macroeconomic Environment

During the quarter, global markets continued to reflect macroeconomic uncertainty and geopolitical tensions. Market volatility and interest rate fluctuations influenced investor sentiment and asset flows. We remain focused on leveraging our portfolio management expertise, disciplined risk management framework and prudent cost control to navigate the current environment.     

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Investment Performance at March 31, 2025

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(1)    Past performance is no guarantee of future results. Outperformance is determined by comparing the annualized investment performance of each investment strategy to the performance of specified reference benchmarks. Investment performance in excess of the performance of the benchmark is considered outperformance. The investment performance calculation of each investment strategy is based on all active accounts and investment models pursuing similar investment objectives. For accounts, actual investment performance is measured gross of fees and net of withholding taxes. For investment models, for which actual investment performance does not exist, the investment performance of a composite of accounts pursuing comparable investment objectives is used as a proxy for actual investment performance. The performance of the specified reference benchmark for each account and investment model is measured net of withholding taxes, where applicable. 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. 

(2)    © 2025 Morningstar, Inc. All Rights Reserved.