Gabelli & Company, Inc. Analyst Macrae Sykes says he expects Cohen & Steers, Inc. (CNS) to begin leveraging the real assets platform it began building last year. Sykes says 2013 was a volatile year for REITs, but while the New York-based investment manager was managing its investment portfolio, he says Cohen & Steers was quietly adding new investment teams to build up its diversified real assets platform.
“They could become part of target-date funds, global asset allocations, etc., on the back of demand for real assets,” Sykes says. “And certainly there is a strong diversification argument for these products. So there is plenty of investment appetite, in my opinion.”
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Sykes also sees opportunity for Cohen & Steers in Japan. He says Cohen & Steers has leveraged its relationship with Daiwa (TYO:8601) to build strong distribution in Japan and is well-positioned to expand.
“They are looking to diversify some of their distribution over there, add some more relationships, and given all these efforts and the 2013 market returns over there as well as new confidence from the investing public in Japan, I just think that the company is well situated to capitalize on those opportunities,” Sykes says. “Net-net, it is a nice niche story within the asset management industry.”
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