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.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE