CNS AR24 Digital - Book - Page 41
Assets Under Management
Below is a discussion of our assets under management at December 31, 2024. For additional details, please refer to the
tables on pages 24 - 27.
Assets under management at December 31, 2024 increased 3.2% to $85.8 billion from $83.1 billion at December 31,
2023. The increase was due to market appreciation of $5.4 billion, partially offset by net outflows of $171 million and
distributions of $2.6 billion.
Open-end funds
Assets under management in open-end funds at December 31, 2024 increased 10.6% to $41.0 billion from $37.0 billion
at December 31, 2023. The change was primarily due to:
"
Net inflows of $2.8 billion including $2.7 billion into U.S. real estate
"
Market appreciation of $2.4 billion including $1.2 billion from U.S. real estate and $995 million from preferred
securities
"
Distributions of $1.3 billion including $598 million from U.S. real estate and $520 million from preferred
securities, of which $962 million was reinvested and included in net flows
Institutional accounts
Assets under management in institutional accounts at December 31, 2024 decreased 4.2% to $33.6 billion from $35.0
billion at December 31, 2023. The change was primarily due to:
Advisory:
"
Net outflows of $2.2 billion including $1.9 billion from global/international real estate
"
Market appreciation of $1.2 billion including $576 million from U.S. real estate and $412 million from global
listed infrastructure
Japan subadvisory accounts:
"
Net outflows of $563 million including $292 million from global/international real estate and $233 million from
U.S. real estate
"
Market appreciation of $752 million including $661 million from U.S. real estate
"
Distributions of $693 million including $647 million from U.S. real estate
Subadvisory accounts excluding Japan:
"
Net outflows of $211 million including $297 million from global/international real estate, partially offset by net
inflows of $134 million into U.S. real estate
"
Market appreciation of $242 million including $110 million from global listed infrastructure and $108 million
from U.S. real estate
Closed-end funds
Assets under management in closed-end funds at December 31, 2024 increased 1.9% to $11.3 billion from $11.1 billion
at December 31, 2023. The change was primarily due to:
"
Net inflows of $13 million
"
Market appreciation of $816 million
"
Distributions of $616 million
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