The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: John Dunn - EVERCORE ISI - Analyst
: Hi guys, wanted to get maybe a little more color on the wealth management channel and kind of like the temperature there so far in April? And
maybe what areas your areas maybe are seeing, like a flow bid or maybe not? And where do you think the redemption trends could go if the status
quo sticks around for a while?
Question: John Dunn - EVERCORE ISI - Analyst
: Okay. Great. And then you guys took us through the impacts of tariffs on your different strategy areas, and that listed real infrastructure doesn't
have most of it doesn't have much direct tariff exposure. I wonder if you could talk about kind of the second order impacts from tariffs that you
might see coming down the pike.
Question: John Dunn - EVERCORE ISI - Analyst
: Right. Yes. Maybe on active ETFs. Is there a difference in selling those products versus the open-end funds? And you mentioned that some of it is
about keeping assets in-house.
Are there also new people coming into that kind of vehicle? And maybe it's early days, but like do you have any idea of what kind of steady-state
level of flows you'd like to get to?
Question: John Dunn - EVERCORE ISI - Analyst
: Got you. And in your prepared remarks, you talked about looking to further innovate to take advantage of dislocation. Was that a reference to like
working on round two of ETFs? Or were there other things you kind of had in mind?
Question: John Dunn - EVERCORE ISI - Analyst
: Got you. And then maybe one on the pipeline. Do you think we'll look back and look at this quarter as kind of an anomaly? Or could we hang out
at a low level versus, because for quite a while, you've been kind of leveled up to the more than $1 billion level. Do you think it's just the timing or
are we in this period for a little bit?
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APRIL 17, 2025 / 2:00PM, CNS.N - Q1 2025 Cohen & Steers Inc Earnings Call
Question: John Dunn - EVERCORE ISI - Analyst
: Got you. And maybe just one more on the, I think it's smart to see if you can take advantage of dislocation by adding, maybe getting a better price
on a deal. But you haven't done a deal in a long time. So it's a bit of a change.
Maybe talk through like whole deals versus team lift-outs versus maybe some of the areas you might be interested in? Just any more color there
would be great.
Question: John Dunn - EVERCORE ISI - Analyst
: Great. Thank you very much.
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