Shares of Cohen & Steers, Inc. (CNS, Financial), a global investment manager specializing in real assets and alternative income, detracted from results in the quarter. Shares declined as investors took a more cautious view on the outlook for real estate assets, which is the company's area of focus. We continue to believe that the asset class remains attractive over the longer term, and Cohen & Steers is uniquely positioned to benefit from increasing investor demand for listed real estate investments.
From Ron Baron (Trades, Portfolio)'s Baron Growth Fund third-quarter 2020 shareholder letter.
