Cohen & Steers, Inc. reports developments for a global investment manager focused on real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities and multi-strategy solutions. Company news commonly covers quarterly operating results, preliminary assets under management and net flows, cash dividends on common stock and leadership or distribution organization changes.
Updates also include changes to Cohen & Steers realty indexes, such as the Global Realty Majors Portfolio Index and International Realty Majors Portfolio Index, and notices tied to Cohen & Steers closed-end fund distribution policies.
Cohen & Steers REIT and Preferred and Income Fund (NYSE: RNP) announced the sources of its upcoming distribution, set for March 31, 2022. The Fund follows a managed distribution policy since December 2017, aiming to provide regular monthly distributions. The current distribution includes $0.1360 per share, sourced entirely from net realized long-term capital gains. As of February 28, 2022, the Fund reported a year-to-date cumulative total return of -11.10% and a cumulative distribution rate of 1.59%. Shareholders will receive a Form 1099-DIV detailing tax characteristics for these distributions.
This press release informs shareholders of Cohen & Steers Quality Income Realty Fund (NYSE: RQI) about the distribution sources to be paid on March 31, 2022, and cumulative fiscal year-to-date distributions. The Fund follows a managed distribution policy for regular monthly payouts, allowing for greater flexibility in capital gains distribution. Key distribution figures include a total current distribution of $0.0800 per share, all derived from long-term capital gains, indicating 100% of the current distribution. Year-to-date cumulative total return is -13.65%, while the current annualized distribution rate is 6.15%.
Cohen & Steers (NYSE: CNS) has partnered with Girls Who Invest, a nonprofit aimed at boosting female representation in investment management. This collaboration will see Cohen & Steers host a Girls Who Invest Scholar during their 2022 summer associate program. Chief Investment Officer Jon Cheigh emphasized the firm's commitment to diversity, stating it enhances investment decisions. The partnership aligns with Girls Who Invest's mission of preparing young women for leadership roles in finance, welcoming over 200 scholars this year and aiming for 30% of global investable capital to be managed by women by 2030.
Cohen & Steers has appointed Anthony Corriggio as Senior Vice President and Portfolio Manager for its Private Real Estate Group. Reporting to James S. Corl, Corriggio will focus on fund management and play a significant role in investment strategies. With over 25 years of real estate investment experience, he previously worked at a predecessor firm with Corl and Hamid Tabib. The Private Real Estate Group emphasizes a value-oriented investment approach, engaging in direct property investments and private placements, leveraging Cohen & Steers' robust resources.
Cohen & Steers announced that its Cohen & Steers Real Estate Securities Fund (CSDIX) and Cohen & Steers Preferred Securities and Income Fund (CPXIX) received the 2022 Refinitiv Lipper Fund Awards for outstanding risk-adjusted performance over the past decade. CSDIX has been recognized for seven consecutive years, outperforming 135 share classes in the Real Estate category, while CPXIX received its second award in the Flexible Income category against 37 share classes. These awards highlight the firm's commitment to delivering superior returns through real assets and alternative income.
Cohen & Steers reported preliminary assets under management of $98.9 billion as of February 28, 2022, marking a decline of $3.2 billion from January 31, 2022. This decrease resulted from market depreciation of $3.5 billion and distributions of $197 million, despite net inflows of $479 million.
Investment vehicles included institutional accounts and open-end funds, with significant market impacts noted in both categories. Overall, the firm's performance reflects current market challenges.
The Cohen & Steers Closed-End Opportunity Fund (NYSE: FOF) announces its distribution sources for February 28, 2022. The fund adopted a managed distribution policy in December 2021, allowing monthly distributions at a fixed rate, increasing flexibility in long-term capital gains realization. February's distribution totals $0.0870 per share, entirely from net realized long-term capital gains. Year-to-date, total return is -4.60% with a cumulative distribution rate of 1.29%. Shareholders will receive Form 1099-DIV for accurate tax reporting by year-end.
Cohen & Steers Limited Duration Preferred and Income Fund (NYSE: LDP) announced its distribution details for February 28, 2022. The fund follows a managed distribution policy to provide shareholders with consistent monthly distributions, which may include long-term capital gains and a return of capital. The current monthly distribution is set at $0.1350 per share, with cumulative distributions for the fiscal year-to-date amounting to $0.2700. Notably, the fund's year-to-date cumulative total return is -1.64%, while the average annual total return over five years stands at 7.06%.
Cohen & Steers Select Preferred and Income Fund (NYSE: PSF) announced details regarding its February 28, 2022 distribution, which totals $0.1350 per share. The fund operates under a managed distribution policy since December 2016, aiming for long-term total return through monthly distributions, which may include long-term and short-term capital gains, net investment income, or return of capital. Year-to-date, the fund reports a cumulative total return of -2.28% and a cumulative distribution rate of 1.07% as of January 31, 2022.
The press release from Cohen & Steers Total Return Realty Fund (NYSE: RFI) announces the distribution details for February 28, 2022. Implemented in December 2011, the managed distribution policy aims to provide consistent monthly distributions while allowing the Fund to realize long-term capital gains. The current distribution of $0.08 per share consists primarily of short-term capital gains (97.88%). The Fund's year-to-date cumulative total return was -6.43% as of January 31, 2022, with an average annual total return of 10.83% over five years. Investors are advised to consider their objectives and risks before investing.