Financial Data and Key Metrics Changes - Earnings per share for Q2 was reported at $0.73, a decrease from $0.75 sequentially [5] - Revenue for Q2 increased by 1.1% from the prior quarter to $135 million [5] - Ending assets under management (AUM) rose to $88.9 billion from $87.6 billion in the previous quarter [6] - The effective fee rate remained stable at 59 basis points, while the operating margin decreased to 33.6% from 34.7% [6] Business Line Data and Key Metrics Changes - Net inflows into open-end funds were positive for the last four consecutive quarters, although institutional net outflows offset these gains [7] - Total expenses increased by 2.9% compared to the prior quarter, driven by higher compensation and benefits [8] - Compensation ratio remained at 40.5%, consistent with previous guidance [10] Market Data and Key Metrics Changes - The second quarter saw 89% of AUM outperforming benchmarks, with 94% outperforming on a one-year basis [14] - Global equities and listed infrastructure outperformed U.S. equities, with global strategies showing stronger performance [30][31] Company Strategy and Development Direction - The company is focused on launching active ETFs and expanding its wealth management channel, particularly in the independent RIA segment [49][50] - A new tactical listed and private real estate strategy was launched, aimed at integrating listed and private real estate allocations [24][42] - The company plans to continue investing in talent acquisition and data analysis to support growth initiatives [44] Management's Comments on Operating Environment and Future Outlook - Management noted that the market environment has been resilient, with strong private sector balance sheets and liquidity [31] - The outlook for real estate is favorable, with valuations seen as attractive for new investors [19][22] - The company expects G&A expenses to increase by 7% to 8% for the full year 2025 compared to 2024 [11] Other Important Information - The company moved into a new Hong Kong office, completing its planned foreign office upgrades [12] - Liquidity at the end of Q2 was reported at $323 million, an increase from $295 million in the prior quarter [11] Q&A Session Summary Question: What is the temperature of the wealth management channel? - The wealth channel is important, with progress in gaining allocations from sophisticated RIAs, although gross sales were about 10% lower than recent trends [48][49] Question: How are active ETFs performing? - Early results show good flows, with RIAs who only allocate to ETFs making allocations, indicating a positive start for the active ETFs [51][52] Question: What drove the outflows in global listed infrastructure? - Outflows were driven by institutional investors rebalancing their portfolios, although the strategy remains popular [55] Question: What is the demand for global real estate? - There has been stronger demand for global real estate, with more global allocators in the pipeline, although U.S. real estate remains the largest market [58][59] Question: Any geographical differences in advisory demand? - The U.S. remains the largest market, with growing activity in Asia, while Europe is slower and the Middle East has seen reduced activity [63]

Core Viewpoint - Cohen & Steers, Inc. reported its financial results for the second quarter of 2025, with a conference call scheduled to discuss these results [1]. Group 1: Financial Results - The earnings release for the quarter ended June 30, 2025, is available on the company's website [1]. - The conference call to discuss the results will be hosted by key executives including the CEO, CFO, and President [1]. Group 2: Conference Call Details - Investors and analysts can access the live conference call by dialing specific numbers for U.S. and international participants [2]. - A replay of the call will be available for two weeks after the conclusion of the conference call [2]. - The webcast of the conference call will be archived on the company's website for one month [2]. Group 3: Company Overview - Cohen & Steers is a leading global investment manager specializing in real assets and alternative income [3]. - The firm was founded in 1986 and is headquartered in New York City, with additional offices in major global cities [3].

Solana's silent infrastructure play materializing fast:• DeFi Development Corp stacked 47,272 SOL todayTotal holdings: 690,420 SOL ($102.7M)• RWAs hit ATH $418M (+150% in 90 days)53,000+ users tokenizing real assets• Q2 network revenue: $271M3rd consecutive quarter leading all L1s/L2s• $90M bridged in from other chains last week$40M+ from Ethereum aloneThe smart money isn't chasing pumps anymore ...

Group 1 - The article highlights that many investors are currently seeking refuge in real assets due to anticipated economic recovery in Argentina, positioning IRSA (NYSE: IRS) as a direct, liquid, and leveraged investment alternative [1] - The focus is on value companies with solid long-term potential, indicating a strategy that aligns with the current market sentiment [1] Group 2 - The article does not provide any specific financial data or performance metrics related to IRSA or the broader market context [2][3] - There is no mention of any specific investment recommendations or advice regarding the suitability of investments for individual investors [2][3]

Group 1 - Eric specializes in real assets within a Canadian bank, indicating a focus on tangible investments [1] - He holds a Master's degree in Financial Economics and is a CFA charterholder, showcasing a strong educational background [1] - Eric has a deep understanding of the Canadian investment universe, particularly in real assets, financials, and insurance [1]

Core Insights - The 2025 Specialty Asset Management (SAM) Outlook by Bank of America highlights the increasing importance of real assets in diversifying investment portfolios amid high long-term interest rates and persistent inflation [1][2] - Real assets are characterized by their low correlation with traditional investments and their role as a hedge against inflation, making them particularly relevant for long-term investors in 2025 [2] Group 1: Commercial Real Estate (CRE) - CRE is showing positive momentum with growing investor confidence, indicated by rebalancing supply and demand, stabilizing valuations, and increasing liquidity [6] Group 2: Farmland - The 2025 crop year presents opportunities for knowledgeable investors as competitive pressures ease and farmland values remain stable to slightly lower, allowing for strategic maneuvering [6] Group 3: Timberland - Timberland is viewed as an attractive investment for long-term investors with lower risk profiles, as its biological growth is largely insulated from market cycles and geopolitical risks [6] Group 4: Energy Assets - Global energy usage is expected to increase due to factors such as population growth, expanding manufacturing, and rising living standards in emerging economies, with a domestic energy supply favoring natural gas, renewables, and other carbon-friendly sources [6]