MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, August 4, 2005 Cohen & Steers' Earnings Disappoint, but AUM Jumps New York City-based Cohen & Steers reported second quarter net income of $8.5 million, or $0.21 per diluted share. The results were below analysts' estimates by two pennies. The fund firm grew assets under management nearly 12 percent from the first quarter to $19.9 billion. Institutional separate accounts grew the fastest quarter over quarter, increasing nearly 16 percent to $4.4 billion. Closed-end mutual funds gained 10 percent to $10 billion, while open-ended funds jumped 12.5 percent to $5.4 billion. Investment advisory fees totaled $29 million in the second quarter, up 6 percent from the quarter before. Separately, Cohen & Steers announced that Richard Helm has joined the firm has senior vice president and head of large-cap value. Prior to joining Cohen & Steers, Helm managed the WM Equity Income Fund. Stephen Dunn also joined Cohen & Steers from Essex Investment Management as the firm's senior vice president and director of institutional marketing. Printed from: MFWire.com/story.asp?s=10206 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |