Investment manager Cohen & Steers has become the portfolio consultant to several Advisors Asset Management (AAM) unit investment trusts (UITs), all of which will be co-branded.
Under the agreement, AAM is the product sponsor and distributor, while Cohen & Steers will be the portfolio consultant to the AAM UITs.
The agreement broadens the scope of the existing partnership between AAM and Cohen & Steers. In 2015, Cohen & Steers became the portfolio consultant to AAM's Midstream & Energy MLP Income Closed-End Portfolio UITs.
"This agreement marks an important milestone in our strategic partnership with Cohen & Steers," says AAM chief executive officer Scott Colyer. "We are thrilled to partner with a first-in-class global asset management firm to provide advisers and their clients with access to distinct investment expertise as they look to build diversified investment portfolios. We look forward to growing our relationship with Cohen & Steers and to all the possibilities ahead."
"AAM's large distribution team and nationwide advisor relationships provide us with a valuable network to reach financial advisers," says Cohen & Steers executive vice president David Edlin. "Both of our firms have benefited from this partnership and we look forward to building on this solid foundation."