Cohen & Steers Announces Retirement of U.S. Real Estate Head

NEW YORK, Oct. 28, 2020 /PRNewswire/ -- Cohen & Steers, Inc. CNS, a leading real assets specialty manager, announced today that Thomas Bohjalian, Executive Vice President and Head of U.S. Real Estate, will retire effective June 30, 2021, after nearly two decades with the firm. Tom Bohjalian will be succeeded as Head of U.S. Real Estate by Jason Yablon, Senior Vice President and Senior Portfolio Manager.

Jason Yablon has been a critical part of the U.S. REIT team and worked closely with Tom Bohjalian for 16 years. The firm's flagship Cohen & Steers Realty Shares has performed in the top quartile for the 1, 3, 5, 10 and 15 year periods ended September 30, 2020, among 255, 240, 232, 197 and 173 U.S. Open-End and U.S. Exchange Traded Fund Real Estate peers respectively, according to Morningstar, and has outperformed its benchmark on a 1, 3, 5, 10 and 15-year basis (view fund performance here). Jason Yablon has served as the lead portfolio manager for the strategy over the past three years. Jason will report to Jon Cheigh, Chief Investment Officer and Head of Global Real Estate, as part of this transition.

Robert Steers, CEO, and Joseph Harvey, President, said:

Tom has been an integral part of the firm's investment team and culture. We appreciate all he has brought to Cohen & Steers over the past 18 years, and we wish him the best as he enters this next chapter. We also congratulate Jason Yablon on his well-deserved promotion to lead the U.S. REIT team. Anyone who has had the opportunity to work with Jason can attest to his skills as a leader, mentor and alpha-generator.

Jon Cheigh, CIO and Head of Global Real Estate, said:

It has been a privilege, both personally and professionally, to work alongside Tom for many years as we've established the largest global investment team dedicated to real estate securities. His leadership has been key to developing our well-tenured next-generation of investment talent, which we believe is critical to generating consistent alpha for our clients over the long term. Jason was identified as Tom's eventual successor several years ago, and his consistent contributions to the investment team and the U.S. REIT research process has only strengthened our confidence in his ability to lead the U.S. team and mentor our emerging talent.

Cohen & Steers also announced that, effective November 30, 2020, Mathew Kirschner, Senior Vice President and Portfolio Manager for U.S. REITs, will be added as Portfolio Manager to the following open-end funds:

• Cohen & Steers Realty Shares (CSJAX, CSJCX, CSJIX, CSJRX, CSJZX, CSRSX)
• Cohen & Steers Real Estate Securities Fund (CSEIX, CSCIX, CSDIX, CIRRX, CSZIX CREFX)
• Cohen & Steers Institutional Realty Shares (CSRIX)

Mathew joined Cohen & Steers' U.S. REIT team 16 years ago, where he has focused primarily on managing the firm's U.S. REIT sub-advisory relationships and closed-end funds, and has been a key contributor to the team's strong performance.

Website: https://www.cohenandsteers.com 
Symbol: NYSE: CNS, RQI, RFI, RNP

About Cohen & Steers. Cohen & Steers is a global investment manager specializing in liquid real assets, including real estate securities, listed infrastructure and natural resource equities, as well as preferred securities and other income solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Dublin, Hong Kong and Tokyo.

Data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. The investment return and the principal value of an investment will fluctuate and shares, when redeemed, may be worth more or less than their original cost. Month-end performance information can be obtained by visiting our website at cohenandsteers.com. During certain periods presented above, the Advisor waived fees and/or reimbursed expenses. Without this arrangement, performance would be lower.

Prior to July 1, 2019, Cohen & Steers Realty Shares had only one class of shares outstanding; these shares have been redesignated as "Class L" shares. Because Class A shares did not commence investment operations prior to July 1, 2019, performance information represented above is for Class L shares. Returns for other share classes will differ due to differing expense structures and sales charges. The maximum sales charge for Class A shares is 4.5%. Class L share gross expenses are 0.96% and net expenses of 0.89%. The Fund's investment adviser has contractually agreed to waive its fee and/or reimburse expenses through June 30, 2022 so that the Fund's total annual operating expenses (excluding acquired fund fees and expenses, taxes and extraordinary expenses) do not exceed 0.88% for Class L shares.

Please consider the investment objectives, risks, charges and expenses of any Cohen & Steers fund carefully before investing. A summary prospectus and prospectus containing this and other information may be obtained, free of charge, by visiting cohenandsteers.com or by calling 800.330.7348. Please read the summary prospectus and prospectus carefully before investing.

Linked benchmark consists of the FTSE Nareit Equity REIT Index (net) through 3/31/19 and the FTSE Nareit All Equity REITs Index (net) thereafter.  The FTSE Nareit Equity REITs Index contains all tax-qualified REITs except timber and infrastructure REITs with more than 50% of total assets in qualifying real estate assets other than mortgages secured by real property that also meet minimum size and liquidity criteria. The FTSE Nareit All Equity REITs Index contains all tax-qualified REITs with more than 50% of total assets in qualifying real estate assets other than mortgages secured by real property that also meet minimum size and liquidity criteria. An investor cannot invest directly in an index, and index performance does not reflect the deduction of fees, expenses or taxes.

Risks of Investing in Real Estate Securities 
The risks of investing in real estate securities are similar to those associated with direct investments in real estate, including falling property values due to increasing vacancies or declining rents resulting from economic, legal, political or technological developments, lack of liquidity, limited diversification and sensitivity to certain economic factors such as interest rate changes and market recessions. The Funds are classified as "non-diversified" funds under the federal securities laws because they can invest in fewer individual companies than a diversified fund. However, the Funds must meet certain diversification requirements under the U.S. tax laws.

Cohen & Steers U.S. registered open-end funds are distributed by Cohen & Steers Securities, LLC, and are only available to U.S. residents.

SOURCE Cohen & Steers, Inc.