As filed with the Securities and Exchange Commission on May 11, 2018
File Nos. 333-21993
811-08059
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-1A
REGISTRATION STATEMENT
UNDER | ||||
THE SECURITIES ACT OF 1933 | ☒ | |||
PRE-EFFECTIVE AMENDMENT NO. | ☐ | |||
POST-EFFECTIVE AMENDMENT NO. 42 | ☒ | |||
And |
REGISTRATION STATEMENT
UNDER | ||||
THE INVESTMENT COMPANY ACT OF 1940 | ☒ | |||
AMENDMENT NO. 43 | ☒ |
COHEN & STEERS
GLOBAL REALTY SHARES, INC.
(Exact Name Of Registrant As Specified In Charter)
280 Park Avenue, New York, NY 10017
(Address Of Principal Executive Office)
Registrants Telephone Number, including Area Code: (212) 832-3232
Dana DeVivo
Cohen & Steers Capital Management, Inc.
280 Park Avenue
New York, New York 10017
(Name And Address Of Agent Of Service Of Process)
With copies to:
Michael G. Doherty, Esq.
Ropes & Gray LLP
1211 Avenue of the Americas
New York, New York 10036
Approximate Date of Proposed Public Offering : As soon as practicable after the effective date of this registration statement.
It is proposed that this filing will become effective (check appropriate box):
☒ | immediately upon filing pursuant to paragraph (b) |
☐ | on (date) pursuant to paragraph (b) |
☐ | 60 days after filing pursuant to paragraph (a)(1) |
☐ | on (date) pursuant to paragraph (a)(1) |
☐ | 75 days after filing pursuant to paragraph (a)(2) |
☐ | on (date) pursuant to paragraph (a)(2) of rule 485 |
If appropriate, check the following box:
☐ | this post-effective amendment designates a new effective date for a previously filed post-effective amendment. |
SIGNATURES
Pursuant to the requirements of the Securities Act and the 1940 Act, the Registrant certifies that it meets all the requirements for effectiveness of this Registration Statement under Rule 485(b) under the Securities Act and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York and State of New York, on the 11th day of May, 2018.
COHEN & STEERS GLOBAL REALTY SHARES, INC. | ||||||||
By: | /s/ ADAM M. DERECHIN | |||||||
Adam M. Derechin |
||||||||
President and CEO |
SIGNATURE | TITLE | DATE | ||||||||||
By: | /s/ ADAM M. DERECHIN |
President and Chief Executive Officer | May 11, 2018 | |||||||||
(ADAM M. DERECHIN) | (Principal Executive Officer) | |||||||||||
By: | /s/ JAMES GIALLANZA |
Chief Financial Officer (Principal Financial Officer) | May 11, 2018 | |||||||||
(JAMES GIALLANZA) | ||||||||||||
*
|
Chairman and Director | May 11, 2018 | ||||||||||
(ROBERT H. STEERS) | ||||||||||||
*
|
Director | May 11, 2018 | ||||||||||
(JOSEPH M. HARVEY) | ||||||||||||
*
|
Director | May 11, 2018 | ||||||||||
(MICHAEL G. CLARK) | ||||||||||||
*
|
Director | May 11, 2018 | ||||||||||
(DEAN JUNKANS) | ||||||||||||
*
|
Director | May 11, 2018 | ||||||||||
(GEORGE GROSSMAN) | ||||||||||||
*
|
Director | May 11, 2018 | ||||||||||
(GERALD J. MAGINNIS) | ||||||||||||
*
|
Director | May 11, 2018 | ||||||||||
(JANE F. MAGPIONG) | ||||||||||||
*
|
Director | May 11, 2018 | ||||||||||
(DAPHNE L. RICHARDS) | ||||||||||||
*
|
Director | May 11, 2018 | ||||||||||
(FRANK K. ROSS) |
||||||||||||
*
|
Director | May 11, 2018 | ||||||||||
(C. EDWARD WARD, JR.) |
*By: | /s/ DANA DEVIVO | |||||||||
Dana DeVivo | May 11, 2018 | |||||||||
(ATTORNEY-IN-FACT) |
EXHIBIT INDEX
Index No. |
Description of Exhibit | |
EX-101.INS |
XBRL Instance Document | |
EX-101.SCH |
XBRL Taxonomy Extension Schema Document | |
EX-101.CAL |
XBRL Taxonomy Extension Calculation Linkbase | |
EX-101.DEF |
XBRL Taxonomy Extension Definition Linkbase | |
EX-101.LAB |
XBRL Taxonomy Extension Labels Linkbase | |
EX-101.PRE |
XBRL Taxonomy Extension Presentation Linkbase |
Label | Element | Value |
---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |
Document Type | dei_DocumentType | 485BPOS |
Document Period End Date | dei_DocumentPeriodEndDate | Dec. 31, 2017 |
Registrant Name | dei_EntityRegistrantName | COHEN & STEERS GLOBAL REALTY SHARES, INC |
Central Index Key | dei_EntityCentralIndexKey | 0001033969 |
Amendment Flag | dei_AmendmentFlag | false |
Document Creation Date | dei_DocumentCreationDate | Apr. 27, 2018 |
Document Effective Date | dei_DocumentEffectiveDate | Apr. 27, 2018 |
Prospectus Date | rr_ProspectusDate | May 01, 2018 |
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Cohen & Steers Global Realty Shares, Inc.
COHEN & STEERS GLOBAL REALTY SHARES, INC.
INVESTMENT OBJECTIVE
The investment objective of Cohen & Steers Global Realty Shares, Inc. (the “Fund”) is total return through investment in global real estate equity securities.
FUND FEES AND EXPENSES
This table describes the fees and expenses that you could pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on Class A shares if you and your family invest, or agree to invest in the future, at least $100,000 in Cohen & Steers funds. You may qualify for sales charge discounts on Class T shares (when made available) if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in “How to Purchase, Exchange and Sell Fund Shares—Purchasing the Class of Fund Shares that is Best for You” in the Fund’s prospectus (the “Prospectus”), in the Appendix to this Prospectus titled “Sales Charge Reductions and Waivers Available Through Certain Intermediaries” (the “Appendix”), “Reducing the Initial Sales Charge on Class A Shares” and “Reducing the Initial Sales Charge on Class T Shares” in the Fund’s Statement of Additional Information (the “SAI”). Class F shares and Class T shares are currently not available for purchase.
Shareholder Fees (fees paid directly from your investment):
[1]
[1]
Maximum Sales Charge (Load) Imposed On Purchases (as % of offering price)
4.50%
none
none
none
none
2.50%
none
Maximum Deferred Sales Charge (Load) (as % of the net asset value at the time of purchase or redemption, whichever is lower)
none
1.00%
[2]
none
none
none
none
none
[1]
Class F shares and Class T shares are currently not available for purchase.
[2]
For Class C shares, the maximum deferred sales charge does not apply after one year.
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):
[2]
[2]
Management Fee
[1]
0.75%
0.75%
0.75%
0.75%
0.75%
0.75%
0.75%
Distribution (12b-1) Fees
0.25%
0.75%
none
none
0.50%
0.25%
none
Other Expenses
[3]
0.12%
0.12%
0.12%
0.12%
0.12%
0.12%
0.12%
Shareholder Service Fee
0.10%
0.25%
none
0.06%
[4]
none
0.08%
[4]
none
Total Other Expenses
[3]
0.22%
0.37%
0.12%
0.18%
0.12%
0.20%
0.12%
Total Annual Fund Operating Expenses
[5]
1.22%
1.87%
0.87%
0.93%
1.37%
1.20%
0.87%
Fee Waiver/Expense Reimbursement
[5]
none
none
none
(0.03%)
none
none
none
Total Annual Fund Operating Expenses (after fee waiver/expense reimbursement)
[5]
1.22%
1.87%
0.87%
[6]
0.90%
1.37%
1.20%
[6]
0.87%
[1]
Effective close of business March 23, 2018, the Fund's investment advisory fee was reduced from an annual rate of 0.80% of the average daily net assets of the Fund to an annual rate of 0.75% of the average daily net assets of the Fund.
[2]
Class F shares and Class T shares are currently not available for purchase.
[3]
Restated to reflect current fees.
[4]
The maximum shareholder service fee for Class I shares and Class T shares is 0.10%.
[5]
Cohen & Steers Capital Management, Inc., the Fund’s investment advisor (the “Advisor”), has contractually agreed to waive its fee and/or reimburse expenses through June 30, 2019 so that the Fund’s total annual operating expenses (excluding acquired fund fees and expenses, taxes and extraordinary expenses) do not exceed 1.25% for Class A shares, 1.90% for Class C shares, 0.90% for Class F shares, 0.90% for Class I shares, 1.40% for Class R shares, 1.25% for Class T shares and 0.90% for Class Z shares. This contractual agreement can be amended at any time by agreement of the Fund's Board of Directors and the Advisor and will terminate automatically in the event of termination of the investment advisory agreement between the Advisor and the Fund.
[6]
The total annual fund operating expenses for Class F shares and Class T shares are estimated.
Example
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then either redeem or do not redeem your shares at the end of those periods. The example also assumes that your investment has a 5% return each year, that the Fund’s operating expenses remain the same, and that the Advisor did not waive its fee and/or reimburse expenses after June 30, 2019 (through June 30, 2019, expenses are based on the net amount pursuant to the fee waiver/expense reimbursement agreement). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Assuming redemption at the end of the period
Class A Shares
569
820
1,090
1,861
Class C Shares
290
588
1,011
2,190
Class F Shares
89
278
482
1,073
Class I Shares
92
293
512
1,140
Class R Shares
139
434
750
1,646
Class T Shares
369
621
893
1,668
Class Z Shares
89
278
482
1,073
Assuming no redemption at the end of the period
Class A Shares
569
820
1,090
1,861
Class C Shares
190
588
1,011
2,190
Class F Shares
89
278
482
1,073
Class I Shares
92
293
512
1,140
Class R Shares
139
434
750
1,646
Class T Shares
369
621
893
1,668
Class Z Shares
89
278
482
1,073
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in the annual fund operating expenses or in the example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 75% of the average value of its portfolio.
PRINCIPAL INVESTMENT STRATEGIES
In managing the Fund’s portfolio, Cohen & Steers Capital Management, Inc. (the “Advisor”), and the Fund’s sub-investment advisors, Cohen & Steers Asia Limited and Cohen & Steers UK Limited (the “Subadvisors”), adhere to an integrated, bottom-up, relative value investment process when selecting publicly traded real estate securities. To guide the portfolio construction process, the Advisor and Subadvisors utilize a proprietary valuation model that quantifies relative valuation of real estate securities based on price-to-net asset value (“NAV”), cash flow multiple/growth ratios and a dividend discount model (“DDM”). Analysts incorporate both quantitative and qualitative analysis in their NAV, cash flow, growth and DDM estimates. The company research process includes an evaluation of the commercial real estate supply and demand dynamics, management, strategy, property quality, financial strength and corporate structure. Judgments with respect to global macroeconomic factors, risk control, geographic and property sector diversification, liquidity and other factors are considered along with the models’ output and drive the portfolio managers’ investment decisions.
Under normal market conditions, the Fund invests at least 80%, and usually substantially all, of its total assets in common stocks and other equity securities issued by U.S. and non-U.S. real estate companies, including real estate investment trusts (“REITs”) and similar REIT-like entities. A real estate company is one that (i) derives at least 50% of its revenue from the ownership, construction, financing, management or sale of commercial, industrial or residential real estate and land; or (ii) has at least 50% of its assets invested in such real estate. REITs are companies that own interests in real estate or in real estate related loans or other interests, and their revenue primarily consists of rent derived from owned, income producing real estate properties and capital gains from the sale of such properties. A REIT in the U.S. is generally not taxed on income distributed to shareholders so long as it meets certain tax related requirements, including the requirement that it distribute substantially all of its taxable income to such shareholders. Foreign REITS and REIT-like entities are organized outside of the U.S. and have operations and receive tax treatment in their respective countries similar to that of U.S. REITs. The Fund retains the ability to invest in real estate companies of any market capitalization.
Under normal market conditions, the Fund will invest significantly (at least 40%—unless market conditions are not deemed favorable by the Advisor, in which case the Fund would invest at least 30%) in real estate companies organized or located outside the U.S. or doing a substantial amount of business outside the U.S. The Fund allocates its assets among various regions and countries, including the United States (but in no less than three different countries). The Fund considers a company that derives at least 50% of its revenue from business outside the U.S. or has at least 50% of its assets outside the U.S. as doing a substantial amount of business outside the U.S. The non-U.S. companies in which the Fund invests may include those domiciled in emerging market countries. Typically, emerging markets are in countries that are in the process of industrialization, with lower gross national products per capita than more developed countries. The Fund is not limited in the extent to which it may invest in emerging market companies.
The Fund may also invest in securities of foreign companies in the form of American Depositary Receipts (“ADRs”), Global Depositary Receipts (“GDRs”) and European Depositary Receipts (“EDRs”).
The Fund may engage in foreign currency transactions, including foreign currency forward contracts, futures contracts, options, swaps and other similar strategic transactions in connection with its investments in securities of non-U.S. companies. The Fund's primary use of foreign currency transactions will be to reduce the foreign currency risk inherent in the Fund's investments.
PRINCIPAL RISKS OF INVESTING IN THE FUND
Investment Risk
An investment in the Fund is subject to investment risk, including the possible loss of the entire principal amount that you invest.
Market Risk
Your investment in Fund shares represents an indirect investment in the REIT shares and other real estate securities owned by the Fund. The value of these securities, like other investments, may move up or down, sometimes rapidly and unpredictably. Your Fund shares at any point in time may be worth less than what you invested, even after taking into account the reinvestment of Fund dividends and distributions.
Common Stock Risk
While common stocks have historically generated higher average returns than fixed-income securities over the long-term, common stocks have also experienced significantly more volatility in those returns, although under certain market conditions, fixed-income investments may have comparable or greater price volatility. The value of common stocks and other equity securities will fluctuate in response to developments concerning the company, political and regulatory circumstances, the stock market and the economy. In the short term, stock prices can fluctuate dramatically in response to these developments. Different parts of the market and different types of equity securities can react differently to these developments. For example, stocks of large companies can react differently than stocks of smaller companies, and value stocks (stocks of companies that are undervalued by various measures and have potential for long-term capital appreciation), can react differently from growth stocks (stocks of companies with attractive cash flow returns on invested capital and earnings that are expected to grow). These developments can affect a single company, all companies within the same industry, economic sector or geographic region, or the stock market as a whole.
Real Estate Market Risk
Since the Fund concentrates its assets in companies engaged in the real estate industry, your investment in the Fund will be closely linked to the performance of the real estate markets. Property values may fall due to increasing vacancies or declining rents resulting from unanticipated economic, legal, cultural or technological developments. Real estate company prices also may drop because of the failure of borrowers to pay their loans and poor management, and residential developers, in particular, could be negatively impacted by falling home prices, slower mortgage origination and rising construction costs.
REIT Risk
REITs generally are dependent upon management skills and may not be diversified. REITs are also subject to heavy cash flow dependency, defaults by borrowers and self-liquidation. In addition, REITs could possibly fail to qualify for favorable tax treatment under applicable tax law. Various factors may also adversely affect a borrower’s or a lessee’s ability to meet its obligations to the REIT. In the event of a default by a borrower or lessee, the REIT may experience delays in enforcing its rights as a mortgagee or lessor and may incur substantial costs associated with protecting its investments.
Foreign (Non-U.S.) and Emerging Market Securities Risk
Risks of investing in foreign securities, which can be expected to be greater for investments in emerging markets, include currency risks, future political and economic developments and possible imposition of foreign withholding or other taxes on income or proceeds payable on the securities. In addition, there may be less publicly available information about a foreign issuer than about a domestic issuer, and foreign issuers may not be subject to the same accounting, auditing and financial recordkeeping standards and requirements as domestic issuers.
Securities of companies in emerging markets may be more volatile than those of companies in more developed markets. Emerging market countries generally have less developed markets and economies and in some countries, less mature governments and governmental institutions. Political developments in foreign countries or the United States may at times subject such countries to sanctions from the U.S. government, foreign governments and/or international institutions that could negatively affect a Fund’s investments in issuers located in, doing business in or with assets in such countries. Investing in securities of companies in emerging markets may entail special risks relating to potential economic, political or social instability and the risks of expropriation, nationalization, confiscation, trade sanctions or embargoes or the imposition of restrictions on foreign investment, the lack of hedging instruments, and repatriation of capital invested. The securities and real estate markets of some emerging market countries have in the past experienced substantial market disruptions and may do so in the future. The economies of many emerging market countries may be heavily dependent on international trade and have thus been, and may continue to be, adversely affected by trade barriers, foreign exchange controls and other protectionist measures imposed or negotiated by the countries with which they wish to trade.
Foreign Currency and Currency Hedging Risk
Although the Fund will report its NAV and pay dividends in U.S. dollars, foreign securities often are purchased with and make any dividend and interest payments in foreign currencies. Therefore, the Fund’s investments in foreign securities will be subject to foreign currency risk, which means that the Fund’s NAV could decline as a result of changes in the exchange rates between foreign currencies and the U.S. dollar. Certain foreign countries may impose restrictions on the ability of issuers of foreign securities to make payment of principal, dividends and interest to investors located outside the country, due to blockage of foreign currency exchanges or otherwise.
The Fund may, but is not required to, engage in various investments that are designed to hedge the Fund’s foreign currency risks, including foreign currency forward contracts, foreign currency futures contracts, put and call options on foreign currencies and foreign currency swaps. Such transactions may reduce returns or increase volatility, perhaps substantially.
Small- and Medium-Sized Companies Risk
Real estate companies in the industry tend to be small- to medium-sized companies in relation to the equity markets as a whole. There may be less trading in a smaller company’s stock, which means that buy and sell transactions in that stock could have a larger impact on the stock’s price than is the case with larger company stocks. Smaller companies also may have fewer lines of business so that changes in any one line of business may have a greater impact on a smaller company’s stock price than is the case for a larger company. Further, smaller company stocks may perform differently in different cycles than larger company stocks. Accordingly, real estate company shares can, and at times will, perform differently than large company stocks.
Preferred Securities Risk
There are various risks associated with investing in preferred securities. These risks include deferral and omission of distributions; credit risk; subordination to bonds and other debt securities in a company’s capital structure; interest rate risk; prepayment and extension risk; call, reinvestment and income risk; liquidity risk; limited voting rights; and special redemption rights.
Geopolitical Risk
Occurrence of global events similar to those in recent years, such as war, terrorist attacks, natural disasters, country instability, infectious disease epidemics, market instability, debt crises and downgrades, embargoes, tariffs, sanctions and other trade barriers and other governmental trade or market control programs, the potential exit of a country from its respective union and related geopolitical events, may result in market volatility and may have long-lasting impacts on both the U.S. and global financial markets. Additionally, those events, as well as other changes in foreign and domestic political and economic conditions, could adversely affect individual issuers or related groups of issuers, securities markets, interest rates, secondary trading, credit ratings, inflation, investor sentiment and other factors affecting the value of the Fund’s investments. The decision of the United Kingdom ("UK") to exit from the European Union following the June 2016 vote on the matter (referred to as “Brexit”) may cause uncertainty and thus adversely impact financial results of the Fund and the global financial markets. Growing tensions between the United States and other foreign powers, or among foreign powers, and possible diplomatic, trade or other sanctions could adversely impact the markets and the Fund. The strengthening or weakening of the U.S. dollar relative to other currencies may, among other things, adversely affect the Fund’s investments denominated in non-U.S. dollar currencies. It is difficult to predict when similar events affecting the U.S. or global financial markets may occur, the effects that such events may have, and the duration of those effects.
Regulatory Risk
The U.S. government has proposed and adopted multiple regulations that could have a long-lasting impact on the Fund and on the mutual fund industry in general. The Department of Labor's (“DOL”) final rule on conflicts of interest on fiduciary investment advice, as well as the Securities and Exchange Commission's (“SEC”) final rules and amendments to modernize reporting and disclosure and to develop and implement a Liquidity Risk Management Program for open-end investment companies could, among other things, restrict and/or increase the cost of the Fund’s ability to engage in transactions, impact flows into the Fund and/or increase overall expenses of the Fund. In addition, Congress, various exchanges and regulatory and self-regulatory authorities, both domestic and foreign, have undertaken reviews of options and futures trading in light of market volatility. Among the actions that have been taken or proposed to be taken are new limits and reporting requirements for speculative positions, new or more stringent daily price fluctuation limits for futures and options transactions, and increased margin requirements for various types of futures transactions. While the full extent of all of these regulations is still unclear, these regulations and actions may adversely affect the instruments in which the Fund invests and its ability to execute its investment strategy. Similarly, regulatory developments in other countries may have an unpredictable and adverse impact on the Fund.
Cyber Security Risk
With the increased use of technologies such as the Internet and the dependence on computer systems to perform necessary business functions, the Fund and its service providers (including the Advisor and Subadvisors) may be susceptible to operational and information security risks resulting from cyber-attacks and/or other technological malfunctions. In general, cyber-attacks are deliberate, but unintentional events may have similar effects. Cyber-attacks include, among others, stealing or corrupting data maintained online or digitally, preventing legitimate users from accessing information or services on a website, releasing confidential information without authorization, gaining unauthorized access to digital systems for purposes of misappropriating assets and causing operational disruption. Cyber-attacks may also be carried out in a manner that does not require gaining unauthorized access, such as causing denial-of-service. Successful cyber-attacks against, or security breakdowns of, the Fund, the Advisor, the Subadvisors, or a custodian, transfer agent, or other affiliated or third-party service provider may adversely affect the Fund or its shareholders.
Each of the Fund, the Advisor and the Subadvisors may have limited ability to prevent or mitigate cyber-attacks or security or technology breakdowns affecting the Fund’s third-party service providers. While the Fund has established business continuity plans and systems designed to prevent or reduce the impact of cyber-attacks, such plans and systems are subject to inherent limitations.
Large Shareholder Risk
The Fund may have one or more large shareholders or a group of shareholders investing in classes of Fund shares indirectly through an account, platform or program sponsored by a financial institution. Investment and asset allocation decisions by such financial institutions regarding the account, platform or program through which multiple shareholders invest may result in subscription and redemption decisions that have a significant impact on the assets, expenses and trading activities of the Fund. Such a decision may cause the Fund to sell assets (or invest cash) at disadvantageous times or prices, increase or accelerate taxable gains or transaction costs and may negatively affect the Fund’s NAV, performance, or ability to satisfy redemptions in a timely manner.
Other Investment Companies Risk
To the extent the Fund invests a portion of its assets in investment companies, including open-end funds, closed-end funds, ETFs and other types of pooled investment funds, those assets will be subject to the risks of the purchased investment funds’ portfolio securities, and a shareholder in the Fund will bear not only his or her proportionate share of the Fund’s expenses, but also indirectly the expenses of the purchased investment funds. Shareholders would therefore be subject to duplicative expenses to the extent the Fund invests in other investment funds. Risks associated with investments in closed-end funds also generally include market risk, leverage risk, risk of market price discount from NAV, risk of anti-takeover provisions and non-diversification. In addition, restrictions under the Investment Company Act of 1940 (“1940 Act”) may limit the Fund’s ability to invest in other investment companies to the extent desired.
Active Management Risk
As an actively managed portfolio, the value of the Fund’s investments could decline because the financial condition of an issuer may change (due to such factors as management performance, reduced demand or overall market changes), financial markets may fluctuate or overall prices may decline, or the Advisor’s investment techniques could fail to achieve the Fund’s investment objective or negatively affect the Fund’s investment performance.
Non-Diversification Risk
As a “non-diversified” investment company, the Fund can invest in fewer individual companies than a diversified investment company. As a result, the Fund is more susceptible to any single political, regulatory or economic occurrence and to the financial condition of individual issuers in which it invests. The Fund’s relative lack of diversity may subject investors to greater risk of loss than a fund that has a diversified portfolio.
Your investment in the Fund is not a deposit of any bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
FUND PERFORMANCE
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class A shares. Because Class F shares and Class T shares are currently not available for purchase, and have therefore not commenced investment operations, no performance information is provided for these share classes. The table shows how the Fund’s average annual returns compare with the performance of a selected broad-based market index, the S&P 500 Index, over various time periods. In addition to the broad-based market index, the table shows performance of the FTSE EPRA/NAREIT Developed Real Estate Index-Net, and the performance of a custom linked benchmark consisting of the FTSE EPRA/NAREIT Developed Real Estate Index-Net and the FTSE NAREIT Equity REIT Index. The FTSE EPRA/NAREIT Developed Real Estate Index-Net is an unmanaged market-capitalization-weighted total return index, which consists of publicly traded equity REITs and listed property companies from developed markets and is net of dividend witholding taxes. The FTSE NAREIT Equity REIT 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 Advisor believes that the FTSE EPRA/NAREIT Developed Real Estate Index-Net, as compared to the broad-based market index, is comprised of securities that are more representative of the Fund's investment strategy. Past performance (both before and after taxes) is not, however, an indication as to how the Fund may perform in the future. Updated performance information, including the Fund’s NAV per share, is available at www.cohenandsteers.com or by calling (800) 330-7348.
Prior to September 28, 2007, the Fund’s name was “Cohen & Steers Realty Focus Fund, Inc.” and its investment objective was maximum capital appreciation over the long-term through investment primarily in a limited number of REITs and other real estate-oriented companies; investments in foreign issuers were limited to 20% of its total assets. The performance of the Fund for periods prior to that date reflects performance under the old investment objective.
The bar chart does not reflect the deduction of sales charges imposed on Class A shares; if these amounts were reflected, returns would be less than those shown.
Class A Shares
Annual Total Returns
[1]
The annual total returns for Class C, I, R and Z shares of the Fund are substantially similar to the annual total returns of Class A shares because the assets of all classes are invested in the same portfolio of securities. The annual total returns differ only to the extent that the classes do not have the same expenses. Class F shares and Class T shares are currently not available for purchase.
Highest quarterly return during this period: 35.91% (quarter ended June 30, 2009)
Lowest quarterly return during this period: -31.01% (quarter ended December 31, 2008)
Average Annual Total Returns
(for the periods ended December 31, 2017)
Class A Shares
7.47%
5.97%
3.42%
Class A Shares | Return After Taxes on Distributions
6.56%
4.97%
2.50%
Class A Shares | Return After Taxes on Distributions and Sale of Fund Shares
4.47%
4.31%
2.34%
Class C Shares
10.83%
6.26%
3.23%
Class I Shares
12.95%
7.32%
4.25%
Class R Shares
12.37%
[1]
[1]
Oct. 01, 2014
Class Z Shares
12.96%
[1]
[1]
Oct. 01, 2014
FTSE EPRA/NAREIT Developed Real Estate Index Net TRI (reflects no deduction for fees, expenses or taxes)
[2]
10.36%
6.32%
3.28%
S&P 500® Index (reflects no deduction for fees, expenses or taxes)
[3]
21.83%
15.79%
8.50%
[1]
The inception date for Class R and Class Z shares is October 1, 2014.
[2]
The FTSE EPRA/NAREIT Developed Real Estate Index-Net is an unmanaged market-capitalization-weighted total return index, which consists of publicly traded equity REITs and listed property companies from developed markets and is net of dividend withholding taxes.
[3]
The S&P 500 Index is an unmanaged index of common stocks that is frequently used as a general measure of U.S. stock market performance.
After-tax returns are shown for Class A shares only. After-tax returns for Class C, I, R, and Z shares will vary. Class F shares and Class T shares are currently not available for purchase. After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor’s tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-advantaged arrangements such as 401(k) plans or individual retirement accounts.
Label
Element
Value
Risk/Return:
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Registrant Name
dei_EntityRegistrantName
COHEN & STEERS GLOBAL REALTY SHARES, INC
Prospectus Date
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May 01, 2018
Cohen & Steers Global Realty Shares, Inc.
Risk/Return:
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Risk/Return [Heading]
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COHEN & STEERS GLOBAL REALTY SHARES, INC.
Objective [Heading]
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INVESTMENT OBJECTIVE
Objective, Primary [Text Block]
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The investment objective of Cohen & Steers Global Realty Shares, Inc. (the “Fund”) is total return through investment in global real estate equity securities.
Expense [Heading]
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FUND FEES AND EXPENSES
Expense Narrative [Text Block]
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This table describes the fees and expenses that you could pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on Class A shares if you and your family invest, or agree to invest in the future, at least $100,000 in Cohen & Steers funds. You may qualify for sales charge discounts on Class T shares (when made available) if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in “How to Purchase, Exchange and Sell Fund Shares—Purchasing the Class of Fund Shares that is Best for You” in the Fund’s prospectus (the “Prospectus”), in the Appendix to this Prospectus titled “Sales Charge Reductions and Waivers Available Through Certain Intermediaries” (the “Appendix”), “Reducing the Initial Sales Charge on Class A Shares” and “Reducing the Initial Sales Charge on Class T Shares” in the Fund’s Statement of Additional Information (the “SAI”). Class F shares and Class T shares are currently not available for purchase.
Shareholder Fees Caption [Text]
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Shareholder Fees (fees paid directly from your investment):
Operating Expenses Caption [Text]
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Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):
Fee Waiver or Reimbursement over Assets, Date of Termination
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June 30, 2019
Portfolio Turnover [Heading]
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Portfolio Turnover
Portfolio Turnover [Text Block]
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The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in the annual fund operating expenses or in the example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 75% of the average value of its portfolio.
Portfolio Turnover, Rate
rr_PortfolioTurnoverRate
75.00%
Expenses Deferred Charges [Text Block]
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For Class C shares, the maximum deferred sales charge does not apply after one year.
Expense Breakpoint Discounts [Text]
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You may qualify for sales charge discounts on Class A shares if you and your family invest, or agree to invest in the future, at least $100,000 in Cohen & Steers funds. You may qualify for sales charge discounts on Class T shares (when made available) if you invest at least $250,000 in the Fund.
Expenses Restated to Reflect Current [Text]
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Restated to reflect current fees.
Expense Example [Heading]
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Example
Expense Example Narrative [Text Block]
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This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then either redeem or do not redeem your shares at the end of those periods. The example also assumes that your investment has a 5% return each year, that the Fund’s operating expenses remain the same, and that the Advisor did not waive its fee and/or reimburse expenses after June 30, 2019 (through June 30, 2019, expenses are based on the net amount pursuant to the fee waiver/expense reimbursement agreement). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example by, Year, Caption [Text]
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Assuming redemption at the end of the period
Expense Example, No Redemption, By Year, Caption [Text]
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Assuming no redemption at the end of the period
Strategy [Heading]
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PRINCIPAL INVESTMENT STRATEGIES
Strategy Narrative [Text Block]
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In managing the Fund’s portfolio, Cohen & Steers Capital Management, Inc. (the “Advisor”), and the Fund’s sub-investment advisors, Cohen & Steers Asia Limited and Cohen & Steers UK Limited (the “Subadvisors”), adhere to an integrated, bottom-up, relative value investment process when selecting publicly traded real estate securities. To guide the portfolio construction process, the Advisor and Subadvisors utilize a proprietary valuation model that quantifies relative valuation of real estate securities based on price-to-net asset value (“NAV”), cash flow multiple/growth ratios and a dividend discount model (“DDM”). Analysts incorporate both quantitative and qualitative analysis in their NAV, cash flow, growth and DDM estimates. The company research process includes an evaluation of the commercial real estate supply and demand dynamics, management, strategy, property quality, financial strength and corporate structure. Judgments with respect to global macroeconomic factors, risk control, geographic and property sector diversification, liquidity and other factors are considered along with the models’ output and drive the portfolio managers’ investment decisions.
Under normal market conditions, the Fund invests at least 80%, and usually substantially all, of its total assets in common stocks and other equity securities issued by U.S. and non-U.S. real estate companies, including real estate investment trusts (“REITs”) and similar REIT-like entities. A real estate company is one that (i) derives at least 50% of its revenue from the ownership, construction, financing, management or sale of commercial, industrial or residential real estate and land; or (ii) has at least 50% of its assets invested in such real estate. REITs are companies that own interests in real estate or in real estate related loans or other interests, and their revenue primarily consists of rent derived from owned, income producing real estate properties and capital gains from the sale of such properties. A REIT in the U.S. is generally not taxed on income distributed to shareholders so long as it meets certain tax related requirements, including the requirement that it distribute substantially all of its taxable income to such shareholders. Foreign REITS and REIT-like entities are organized outside of the U.S. and have operations and receive tax treatment in their respective countries similar to that of U.S. REITs. The Fund retains the ability to invest in real estate companies of any market capitalization.
Under normal market conditions, the Fund will invest significantly (at least 40%—unless market conditions are not deemed favorable by the Advisor, in which case the Fund would invest at least 30%) in real estate companies organized or located outside the U.S. or doing a substantial amount of business outside the U.S. The Fund allocates its assets among various regions and countries, including the United States (but in no less than three different countries). The Fund considers a company that derives at least 50% of its revenue from business outside the U.S. or has at least 50% of its assets outside the U.S. as doing a substantial amount of business outside the U.S. The non-U.S. companies in which the Fund invests may include those domiciled in emerging market countries. Typically, emerging markets are in countries that are in the process of industrialization, with lower gross national products per capita than more developed countries. The Fund is not limited in the extent to which it may invest in emerging market companies.
The Fund may also invest in securities of foreign companies in the form of American Depositary Receipts (“ADRs”), Global Depositary Receipts (“GDRs”) and European Depositary Receipts (“EDRs”).
The Fund may engage in foreign currency transactions, including foreign currency forward contracts, futures contracts, options, swaps and other similar strategic transactions in connection with its investments in securities of non-U.S. companies. The Fund's primary use of foreign currency transactions will be to reduce the foreign currency risk inherent in the Fund's investments.
Strategy Portfolio Concentration [Text]
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Under normal market conditions, the Fund invests at least 80%, and usually substantially all, of its total assets in common stocks and other equity securities issued by U.S. and non-U.S. real estate companies, including real estate investment trusts (“REITs”) and similar REIT-like entities.
Risk [Heading]
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PRINCIPAL RISKS OF INVESTING IN THE FUND
Risk Narrative [Text Block]
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Investment Risk
An investment in the Fund is subject to investment risk, including the possible loss of the entire principal amount that you invest.
Market Risk
Your investment in Fund shares represents an indirect investment in the REIT shares and other real estate securities owned by the Fund. The value of these securities, like other investments, may move up or down, sometimes rapidly and unpredictably. Your Fund shares at any point in time may be worth less than what you invested, even after taking into account the reinvestment of Fund dividends and distributions.
Common Stock Risk
While common stocks have historically generated higher average returns than fixed-income securities over the long-term, common stocks have also experienced significantly more volatility in those returns, although under certain market conditions, fixed-income investments may have comparable or greater price volatility. The value of common stocks and other equity securities will fluctuate in response to developments concerning the company, political and regulatory circumstances, the stock market and the economy. In the short term, stock prices can fluctuate dramatically in response to these developments. Different parts of the market and different types of equity securities can react differently to these developments. For example, stocks of large companies can react differently than stocks of smaller companies, and value stocks (stocks of companies that are undervalued by various measures and have potential for long-term capital appreciation), can react differently from growth stocks (stocks of companies with attractive cash flow returns on invested capital and earnings that are expected to grow). These developments can affect a single company, all companies within the same industry, economic sector or geographic region, or the stock market as a whole.
Real Estate Market Risk
Since the Fund concentrates its assets in companies engaged in the real estate industry, your investment in the Fund will be closely linked to the performance of the real estate markets. Property values may fall due to increasing vacancies or declining rents resulting from unanticipated economic, legal, cultural or technological developments. Real estate company prices also may drop because of the failure of borrowers to pay their loans and poor management, and residential developers, in particular, could be negatively impacted by falling home prices, slower mortgage origination and rising construction costs.
REIT Risk
REITs generally are dependent upon management skills and may not be diversified. REITs are also subject to heavy cash flow dependency, defaults by borrowers and self-liquidation. In addition, REITs could possibly fail to qualify for favorable tax treatment under applicable tax law. Various factors may also adversely affect a borrower’s or a lessee’s ability to meet its obligations to the REIT. In the event of a default by a borrower or lessee, the REIT may experience delays in enforcing its rights as a mortgagee or lessor and may incur substantial costs associated with protecting its investments.
Foreign (Non-U.S.) and Emerging Market Securities Risk
Risks of investing in foreign securities, which can be expected to be greater for investments in emerging markets, include currency risks, future political and economic developments and possible imposition of foreign withholding or other taxes on income or proceeds payable on the securities. In addition, there may be less publicly available information about a foreign issuer than about a domestic issuer, and foreign issuers may not be subject to the same accounting, auditing and financial recordkeeping standards and requirements as domestic issuers.
Securities of companies in emerging markets may be more volatile than those of companies in more developed markets. Emerging market countries generally have less developed markets and economies and in some countries, less mature governments and governmental institutions. Political developments in foreign countries or the United States may at times subject such countries to sanctions from the U.S. government, foreign governments and/or international institutions that could negatively affect a Fund’s investments in issuers located in, doing business in or with assets in such countries. Investing in securities of companies in emerging markets may entail special risks relating to potential economic, political or social instability and the risks of expropriation, nationalization, confiscation, trade sanctions or embargoes or the imposition of restrictions on foreign investment, the lack of hedging instruments, and repatriation of capital invested. The securities and real estate markets of some emerging market countries have in the past experienced substantial market disruptions and may do so in the future. The economies of many emerging market countries may be heavily dependent on international trade and have thus been, and may continue to be, adversely affected by trade barriers, foreign exchange controls and other protectionist measures imposed or negotiated by the countries with which they wish to trade.
Foreign Currency and Currency Hedging Risk
Although the Fund will report its NAV and pay dividends in U.S. dollars, foreign securities often are purchased with and make any dividend and interest payments in foreign currencies. Therefore, the Fund’s investments in foreign securities will be subject to foreign currency risk, which means that the Fund’s NAV could decline as a result of changes in the exchange rates between foreign currencies and the U.S. dollar. Certain foreign countries may impose restrictions on the ability of issuers of foreign securities to make payment of principal, dividends and interest to investors located outside the country, due to blockage of foreign currency exchanges or otherwise.
The Fund may, but is not required to, engage in various investments that are designed to hedge the Fund’s foreign currency risks, including foreign currency forward contracts, foreign currency futures contracts, put and call options on foreign currencies and foreign currency swaps. Such transactions may reduce returns or increase volatility, perhaps substantially.
Small- and Medium-Sized Companies Risk
Real estate companies in the industry tend to be small- to medium-sized companies in relation to the equity markets as a whole. There may be less trading in a smaller company’s stock, which means that buy and sell transactions in that stock could have a larger impact on the stock’s price than is the case with larger company stocks. Smaller companies also may have fewer lines of business so that changes in any one line of business may have a greater impact on a smaller company’s stock price than is the case for a larger company. Further, smaller company stocks may perform differently in different cycles than larger company stocks. Accordingly, real estate company shares can, and at times will, perform differently than large company stocks.
Preferred Securities Risk
There are various risks associated with investing in preferred securities. These risks include deferral and omission of distributions; credit risk; subordination to bonds and other debt securities in a company’s capital structure; interest rate risk; prepayment and extension risk; call, reinvestment and income risk; liquidity risk; limited voting rights; and special redemption rights.
Geopolitical Risk
Occurrence of global events similar to those in recent years, such as war, terrorist attacks, natural disasters, country instability, infectious disease epidemics, market instability, debt crises and downgrades, embargoes, tariffs, sanctions and other trade barriers and other governmental trade or market control programs, the potential exit of a country from its respective union and related geopolitical events, may result in market volatility and may have long-lasting impacts on both the U.S. and global financial markets. Additionally, those events, as well as other changes in foreign and domestic political and economic conditions, could adversely affect individual issuers or related groups of issuers, securities markets, interest rates, secondary trading, credit ratings, inflation, investor sentiment and other factors affecting the value of the Fund’s investments. The decision of the United Kingdom ("UK") to exit from the European Union following the June 2016 vote on the matter (referred to as “Brexit”) may cause uncertainty and thus adversely impact financial results of the Fund and the global financial markets. Growing tensions between the United States and other foreign powers, or among foreign powers, and possible diplomatic, trade or other sanctions could adversely impact the markets and the Fund. The strengthening or weakening of the U.S. dollar relative to other currencies may, among other things, adversely affect the Fund’s investments denominated in non-U.S. dollar currencies. It is difficult to predict when similar events affecting the U.S. or global financial markets may occur, the effects that such events may have, and the duration of those effects.
Regulatory Risk
The U.S. government has proposed and adopted multiple regulations that could have a long-lasting impact on the Fund and on the mutual fund industry in general. The Department of Labor's (“DOL”) final rule on conflicts of interest on fiduciary investment advice, as well as the Securities and Exchange Commission's (“SEC”) final rules and amendments to modernize reporting and disclosure and to develop and implement a Liquidity Risk Management Program for open-end investment companies could, among other things, restrict and/or increase the cost of the Fund’s ability to engage in transactions, impact flows into the Fund and/or increase overall expenses of the Fund. In addition, Congress, various exchanges and regulatory and self-regulatory authorities, both domestic and foreign, have undertaken reviews of options and futures trading in light of market volatility. Among the actions that have been taken or proposed to be taken are new limits and reporting requirements for speculative positions, new or more stringent daily price fluctuation limits for futures and options transactions, and increased margin requirements for various types of futures transactions. While the full extent of all of these regulations is still unclear, these regulations and actions may adversely affect the instruments in which the Fund invests and its ability to execute its investment strategy. Similarly, regulatory developments in other countries may have an unpredictable and adverse impact on the Fund.
Cyber Security Risk
With the increased use of technologies such as the Internet and the dependence on computer systems to perform necessary business functions, the Fund and its service providers (including the Advisor and Subadvisors) may be susceptible to operational and information security risks resulting from cyber-attacks and/or other technological malfunctions. In general, cyber-attacks are deliberate, but unintentional events may have similar effects. Cyber-attacks include, among others, stealing or corrupting data maintained online or digitally, preventing legitimate users from accessing information or services on a website, releasing confidential information without authorization, gaining unauthorized access to digital systems for purposes of misappropriating assets and causing operational disruption. Cyber-attacks may also be carried out in a manner that does not require gaining unauthorized access, such as causing denial-of-service. Successful cyber-attacks against, or security breakdowns of, the Fund, the Advisor, the Subadvisors, or a custodian, transfer agent, or other affiliated or third-party service provider may adversely affect the Fund or its shareholders.
Each of the Fund, the Advisor and the Subadvisors may have limited ability to prevent or mitigate cyber-attacks or security or technology breakdowns affecting the Fund’s third-party service providers. While the Fund has established business continuity plans and systems designed to prevent or reduce the impact of cyber-attacks, such plans and systems are subject to inherent limitations.
Large Shareholder Risk
The Fund may have one or more large shareholders or a group of shareholders investing in classes of Fund shares indirectly through an account, platform or program sponsored by a financial institution. Investment and asset allocation decisions by such financial institutions regarding the account, platform or program through which multiple shareholders invest may result in subscription and redemption decisions that have a significant impact on the assets, expenses and trading activities of the Fund. Such a decision may cause the Fund to sell assets (or invest cash) at disadvantageous times or prices, increase or accelerate taxable gains or transaction costs and may negatively affect the Fund’s NAV, performance, or ability to satisfy redemptions in a timely manner.
Other Investment Companies Risk
To the extent the Fund invests a portion of its assets in investment companies, including open-end funds, closed-end funds, ETFs and other types of pooled investment funds, those assets will be subject to the risks of the purchased investment funds’ portfolio securities, and a shareholder in the Fund will bear not only his or her proportionate share of the Fund’s expenses, but also indirectly the expenses of the purchased investment funds. Shareholders would therefore be subject to duplicative expenses to the extent the Fund invests in other investment funds. Risks associated with investments in closed-end funds also generally include market risk, leverage risk, risk of market price discount from NAV, risk of anti-takeover provisions and non-diversification. In addition, restrictions under the Investment Company Act of 1940 (“1940 Act”) may limit the Fund’s ability to invest in other investment companies to the extent desired.
Active Management Risk
As an actively managed portfolio, the value of the Fund’s investments could decline because the financial condition of an issuer may change (due to such factors as management performance, reduced demand or overall market changes), financial markets may fluctuate or overall prices may decline, or the Advisor’s investment techniques could fail to achieve the Fund’s investment objective or negatively affect the Fund’s investment performance.
Non-Diversification Risk
As a “non-diversified” investment company, the Fund can invest in fewer individual companies than a diversified investment company. As a result, the Fund is more susceptible to any single political, regulatory or economic occurrence and to the financial condition of individual issuers in which it invests. The Fund’s relative lack of diversity may subject investors to greater risk of loss than a fund that has a diversified portfolio.
Your investment in the Fund is not a deposit of any bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Risk Lose Money [Text]
rr_RiskLoseMoney
An investment in the Fund is subject to investment risk, including the possible loss of the entire principal amount that you invest.
Risk Nondiversified Status [Text]
rr_RiskNondiversifiedStatus
Non-Diversification Risk
As a “non-diversified” investment company, the Fund can invest in fewer individual companies than a diversified investment company. As a result, the Fund is more susceptible to any single political, regulatory or economic occurrence and to the financial condition of individual issuers in which it invests. The Fund’s relative lack of diversity may subject investors to greater risk of loss than a fund that has a diversified portfolio.
Risk Not Insured Depository Institution [Text]
rr_RiskNotInsuredDepositoryInstitution
Your investment in the Fund is not a deposit of any bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading]
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FUND PERFORMANCE
Performance Narrative [Text Block]
rr_PerformanceNarrativeTextBlock
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class A shares. Because Class F shares and Class T shares are currently not available for purchase, and have therefore not commenced investment operations, no performance information is provided for these share classes. The table shows how the Fund’s average annual returns compare with the performance of a selected broad-based market index, the S&P 500 Index, over various time periods. In addition to the broad-based market index, the table shows performance of the FTSE EPRA/NAREIT Developed Real Estate Index-Net, and the performance of a custom linked benchmark consisting of the FTSE EPRA/NAREIT Developed Real Estate Index-Net and the FTSE NAREIT Equity REIT Index. The FTSE EPRA/NAREIT Developed Real Estate Index-Net is an unmanaged market-capitalization-weighted total return index, which consists of publicly traded equity REITs and listed property companies from developed markets and is net of dividend witholding taxes. The FTSE NAREIT Equity REIT 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 Advisor believes that the FTSE EPRA/NAREIT Developed Real Estate Index-Net, as compared to the broad-based market index, is comprised of securities that are more representative of the Fund's investment strategy. Past performance (both before and after taxes) is not, however, an indication as to how the Fund may perform in the future. Updated performance information, including the Fund’s NAV per share, is available at www.cohenandsteers.com or by calling (800) 330-7348.
Prior to September 28, 2007, the Fund’s name was “Cohen & Steers Realty Focus Fund, Inc.” and its investment objective was maximum capital appreciation over the long-term through investment primarily in a limited number of REITs and other real estate-oriented companies; investments in foreign issuers were limited to 20% of its total assets. The performance of the Fund for periods prior to that date reflects performance under the old investment objective.
The bar chart does not reflect the deduction of sales charges imposed on Class A shares; if these amounts were reflected, returns would be less than those shown.
Performance Information Illustrates Variability of Returns [Text]
rr_PerformanceInformationIllustratesVariabilityOfReturns
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class A shares.
The table shows how the Fund’s average annual returns compare with the performance of a selected broad-based market index, the S&P 500 Index, over various time periods.
Performance One Year or Less [Text]
rr_PerformanceOneYearOrLess
Because Class F shares and Class T shares are currently not available for purchase, and have therefore not commenced investment operations, no performance information is provided for these share classes.
Performance Additional Market Index [Text]
rr_PerformanceAdditionalMarketIndex
In addition to the broad-based market index, the table shows performance of the FTSE EPRA/NAREIT Developed Real Estate Index-Net, and the performance of a custom linked benchmark consisting of the FTSE EPRA/NAREIT Developed Real Estate Index-Net and the FTSE NAREIT Equity REIT Index. The FTSE EPRA/NAREIT Developed Real Estate Index-Net is an unmanaged market-capitalization-weighted total return index, which consists of publicly traded equity REITs and listed property companies from developed markets and is net of dividend witholding taxes. The FTSE NAREIT Equity REIT 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 Advisor believes that the FTSE EPRA/NAREIT Developed Real Estate Index-Net, as compared to the broad-based market index, is comprised of securities that are more representative of the Fund's investment strategy.
Performance Availability Phone [Text]
rr_PerformanceAvailabilityPhone
(800) 330-7348
Performance Availability Website Address [Text]
rr_PerformanceAvailabilityWebSiteAddress
www.cohenandsteers.com
Performance Past Does Not Indicate Future [Text]
rr_PerformancePastDoesNotIndicateFuture
Past performance (both before and after taxes) is not, however, an indication as to how the Fund may perform in the future.
Bar Chart [Heading]
rr_BarChartHeading
Class A Shares
Annual Total Returns
Bar Chart Does Not Reflect Sales Loads [Text]
rr_BarChartDoesNotReflectSalesLoads
The bar chart does not reflect the deduction of sales charges imposed on Class A shares; if these amounts were reflected, returns would be less than those shown.
Bar Chart Closing [Text Block]
rr_BarChartClosingTextBlock
Highest quarterly return during this period: 35.91% (quarter ended June 30, 2009)
Lowest quarterly return during this period: -31.01% (quarter ended December 31, 2008)
Performance Table Heading
rr_PerformanceTableHeading
Average Annual Total Returns
(for the periods ended December 31, 2017)
Performance Table Uses Highest Federal Rate
rr_PerformanceTableUsesHighestFederalRate
After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred
rr_PerformanceTableNotRelevantToTaxDeferred
Actual after-tax returns depend on the investor’s tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-advantaged arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text]
rr_PerformanceTableOneClassOfAfterTaxShown
After-tax returns are shown for Class A shares only. After-tax returns for Class C, I, R, and Z shares will vary.
Performance Table Narrative
rr_PerformanceTableNarrativeTextBlock
After-tax returns are shown for Class A shares only. After-tax returns for Class C, I, R, and Z shares will vary. Class F shares and Class T shares are currently not available for purchase. After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor’s tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-advantaged arrangements such as 401(k) plans or individual retirement accounts.
Cohen & Steers Global Realty Shares, Inc. | Class A
Risk/Return:
rr_RiskReturnAbstract
Maximum Sales Charge (Load) Imposed On Purchases (as % of offering price)
rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice
4.50%
Maximum Deferred Sales Charge (Load) (as % of the net asset value at the time of purchase or redemption, whichever is lower)
rr_MaximumDeferredSalesChargeOverOther
none
Management Fee
rr_ManagementFeesOverAssets
0.75%
[1]
Distribution (12b-1) Fees
rr_DistributionAndService12b1FeesOverAssets
0.25%
Other Expenses
rr_Component1OtherExpensesOverAssets
0.12%
[2]
Shareholder Service Fee
rr_Component2OtherExpensesOverAssets
0.10%
Total Other Expenses
rr_OtherExpensesOverAssets
0.22%
[2]
Total Annual Fund Operating Expenses
rr_ExpensesOverAssets
1.22%
[3]
Fee Waiver/Expense Reimbursement
rr_FeeWaiverOrReimbursementOverAssets
none
[3]
Total Annual Fund Operating Expenses (after fee waiver/expense reimbursement)
rr_NetExpensesOverAssets
1.22%
[3]
Expense Breakpoint, Minimum Investment Required [Amount]
rr_ExpenseBreakpointMinimumInvestmentRequiredAmount
$ 100,000
1 Year
rr_ExpenseExampleYear01
569
3 Years
rr_ExpenseExampleYear03
820
5 Years
rr_ExpenseExampleYear05
1,090
10 Years
rr_ExpenseExampleYear10
1,861
1 Year
rr_ExpenseExampleNoRedemptionYear01
569
3 Years
rr_ExpenseExampleNoRedemptionYear03
820
5 Years
rr_ExpenseExampleNoRedemptionYear05
1,090
10 Years
rr_ExpenseExampleNoRedemptionYear10
$ 1,861
2008
rr_AnnualReturn2008
(42.79%)
[4]
2009
rr_AnnualReturn2009
37.45%
[4]
2010
rr_AnnualReturn2010
17.19%
[4]
2011
rr_AnnualReturn2011
(9.42%)
[4]
2012
rr_AnnualReturn2012
25.56%
[4]
2013
rr_AnnualReturn2013
3.64%
[4]
2014
rr_AnnualReturn2014
13.54%
[4]
2015
rr_AnnualReturn2015
2.18%
[4]
2016
rr_AnnualReturn2016
3.40%
[4]
2017
rr_AnnualReturn2017
12.53%
[4]
Highest Quarterly Return, Label
rr_HighestQuarterlyReturnLabel
Highest quarterly return
Highest Quarterly Return, Date
rr_BarChartHighestQuarterlyReturnDate
Jun. 30, 2009
Highest Quarterly Return
rr_BarChartHighestQuarterlyReturn
35.91%
Lowest Quarterly Return, Label
rr_LowestQuarterlyReturnLabel
Lowest quarterly return
Lowest Quarterly Return, Date
rr_BarChartLowestQuarterlyReturnDate
Dec. 31, 2008
Lowest Quarterly Return
rr_BarChartLowestQuarterlyReturn
(31.01%)
1 Year
rr_AverageAnnualReturnYear01
7.47%
5 Years
rr_AverageAnnualReturnYear05
5.97%
10 Years
rr_AverageAnnualReturnYear10
3.42%
Cohen & Steers Global Realty Shares, Inc. | Class C
Risk/Return:
rr_RiskReturnAbstract
Maximum Sales Charge (Load) Imposed On Purchases (as % of offering price)
rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice
none
Maximum Deferred Sales Charge (Load) (as % of the net asset value at the time of purchase or redemption, whichever is lower)
rr_MaximumDeferredSalesChargeOverOther
1.00%
[5]
Management Fee
rr_ManagementFeesOverAssets
0.75%
[1]
Distribution (12b-1) Fees
rr_DistributionAndService12b1FeesOverAssets
0.75%
Other Expenses
rr_Component1OtherExpensesOverAssets
0.12%
[2]
Shareholder Service Fee
rr_Component2OtherExpensesOverAssets
0.25%
Total Other Expenses
rr_OtherExpensesOverAssets
0.37%
[2]
Total Annual Fund Operating Expenses
rr_ExpensesOverAssets
1.87%
[3]
Fee Waiver/Expense Reimbursement
rr_FeeWaiverOrReimbursementOverAssets
none
[3]
Total Annual Fund Operating Expenses (after fee waiver/expense reimbursement)
rr_NetExpensesOverAssets
1.87%
[3]
1 Year
rr_ExpenseExampleYear01
$ 290
3 Years
rr_ExpenseExampleYear03
588
5 Years
rr_ExpenseExampleYear05
1,011
10 Years
rr_ExpenseExampleYear10
2,190
1 Year
rr_ExpenseExampleNoRedemptionYear01
190
3 Years
rr_ExpenseExampleNoRedemptionYear03
588
5 Years
rr_ExpenseExampleNoRedemptionYear05
1,011
10 Years
rr_ExpenseExampleNoRedemptionYear10
$ 2,190
1 Year
rr_AverageAnnualReturnYear01
10.83%
5 Years
rr_AverageAnnualReturnYear05
6.26%
10 Years
rr_AverageAnnualReturnYear10
3.23%
Cohen & Steers Global Realty Shares, Inc. | Class F
Risk/Return:
rr_RiskReturnAbstract
Maximum Sales Charge (Load) Imposed On Purchases (as % of offering price)
rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice
none
[6]
Maximum Deferred Sales Charge (Load) (as % of the net asset value at the time of purchase or redemption, whichever is lower)
rr_MaximumDeferredSalesChargeOverOther
none
[6]
Management Fee
rr_ManagementFeesOverAssets
0.75%
[1],[6]
Distribution (12b-1) Fees
rr_DistributionAndService12b1FeesOverAssets
none
[6]
Other Expenses
rr_Component1OtherExpensesOverAssets
0.12%
[2],[6]
Shareholder Service Fee
rr_Component2OtherExpensesOverAssets
none
[6]
Total Other Expenses
rr_OtherExpensesOverAssets
0.12%
[2],[6]
Total Annual Fund Operating Expenses
rr_ExpensesOverAssets
0.87%
[3],[6]
Fee Waiver/Expense Reimbursement
rr_FeeWaiverOrReimbursementOverAssets
none
[3],[6]
Total Annual Fund Operating Expenses (after fee waiver/expense reimbursement)
rr_NetExpensesOverAssets
0.87%
[3],[6],[7]
1 Year
rr_ExpenseExampleYear01
$ 89
3 Years
rr_ExpenseExampleYear03
278
5 Years
rr_ExpenseExampleYear05
482
10 Years
rr_ExpenseExampleYear10
1,073
1 Year
rr_ExpenseExampleNoRedemptionYear01
89
3 Years
rr_ExpenseExampleNoRedemptionYear03
278
5 Years
rr_ExpenseExampleNoRedemptionYear05
482
10 Years
rr_ExpenseExampleNoRedemptionYear10
$ 1,073
Cohen & Steers Global Realty Shares, Inc. | Class I
Risk/Return:
rr_RiskReturnAbstract
Maximum Sales Charge (Load) Imposed On Purchases (as % of offering price)
rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice
none
Maximum Deferred Sales Charge (Load) (as % of the net asset value at the time of purchase or redemption, whichever is lower)
rr_MaximumDeferredSalesChargeOverOther
none
Management Fee
rr_ManagementFeesOverAssets
0.75%
[1]
Distribution (12b-1) Fees
rr_DistributionAndService12b1FeesOverAssets
none
Other Expenses
rr_Component1OtherExpensesOverAssets
0.12%
[2]
Shareholder Service Fee
rr_Component2OtherExpensesOverAssets
0.06%
[8]
Total Other Expenses
rr_OtherExpensesOverAssets
0.18%
[2]
Total Annual Fund Operating Expenses
rr_ExpensesOverAssets
0.93%
[3]
Fee Waiver/Expense Reimbursement
rr_FeeWaiverOrReimbursementOverAssets
(0.03%)
[3]
Total Annual Fund Operating Expenses (after fee waiver/expense reimbursement)
rr_NetExpensesOverAssets
0.90%
[3]
1 Year
rr_ExpenseExampleYear01
$ 92
3 Years
rr_ExpenseExampleYear03
293
5 Years
rr_ExpenseExampleYear05
512
10 Years
rr_ExpenseExampleYear10
1,140
1 Year
rr_ExpenseExampleNoRedemptionYear01
92
3 Years
rr_ExpenseExampleNoRedemptionYear03
293
5 Years
rr_ExpenseExampleNoRedemptionYear05
512
10 Years
rr_ExpenseExampleNoRedemptionYear10
$ 1,140
1 Year
rr_AverageAnnualReturnYear01
12.95%
5 Years
rr_AverageAnnualReturnYear05
7.32%
10 Years
rr_AverageAnnualReturnYear10
4.25%
Cohen & Steers Global Realty Shares, Inc. | Class R
Risk/Return:
rr_RiskReturnAbstract
Maximum Sales Charge (Load) Imposed On Purchases (as % of offering price)
rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice
none
Maximum Deferred Sales Charge (Load) (as % of the net asset value at the time of purchase or redemption, whichever is lower)
rr_MaximumDeferredSalesChargeOverOther
none
Management Fee
rr_ManagementFeesOverAssets
0.75%
[1]
Distribution (12b-1) Fees
rr_DistributionAndService12b1FeesOverAssets
0.50%
Other Expenses
rr_Component1OtherExpensesOverAssets
0.12%
[2]
Shareholder Service Fee
rr_Component2OtherExpensesOverAssets
none
Total Other Expenses
rr_OtherExpensesOverAssets
0.12%
[2]
Total Annual Fund Operating Expenses
rr_ExpensesOverAssets
1.37%
[3]
Fee Waiver/Expense Reimbursement
rr_FeeWaiverOrReimbursementOverAssets
none
[3]
Total Annual Fund Operating Expenses (after fee waiver/expense reimbursement)
rr_NetExpensesOverAssets
1.37%
[3]
1 Year
rr_ExpenseExampleYear01
$ 139
3 Years
rr_ExpenseExampleYear03
434
5 Years
rr_ExpenseExampleYear05
750
10 Years
rr_ExpenseExampleYear10
1,646
1 Year
rr_ExpenseExampleNoRedemptionYear01
139
3 Years
rr_ExpenseExampleNoRedemptionYear03
434
5 Years
rr_ExpenseExampleNoRedemptionYear05
750
10 Years
rr_ExpenseExampleNoRedemptionYear10
$ 1,646
1 Year
rr_AverageAnnualReturnYear01
12.37%
5 Years
rr_AverageAnnualReturnYear05
[9]
10 Years
rr_AverageAnnualReturnYear10
[9]
Inception Date
rr_AverageAnnualReturnInceptionDate
Oct. 01, 2014
Cohen & Steers Global Realty Shares, Inc. | Class T
Risk/Return:
rr_RiskReturnAbstract
Maximum Sales Charge (Load) Imposed On Purchases (as % of offering price)
rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice
2.50%
[6]
Maximum Deferred Sales Charge (Load) (as % of the net asset value at the time of purchase or redemption, whichever is lower)
rr_MaximumDeferredSalesChargeOverOther
none
[6]
Management Fee
rr_ManagementFeesOverAssets
0.75%
[1],[6]
Distribution (12b-1) Fees
rr_DistributionAndService12b1FeesOverAssets
0.25%
[6]
Other Expenses
rr_Component1OtherExpensesOverAssets
0.12%
[2],[6]
Shareholder Service Fee
rr_Component2OtherExpensesOverAssets
0.08%
[6],[8]
Total Other Expenses
rr_OtherExpensesOverAssets
0.20%
[2],[6]
Total Annual Fund Operating Expenses
rr_ExpensesOverAssets
1.20%
[3],[6]
Fee Waiver/Expense Reimbursement
rr_FeeWaiverOrReimbursementOverAssets
none
[3],[6]
Total Annual Fund Operating Expenses (after fee waiver/expense reimbursement)
rr_NetExpensesOverAssets
1.20%
[3],[6],[7]
Expense Breakpoint, Minimum Investment Required [Amount]
rr_ExpenseBreakpointMinimumInvestmentRequiredAmount
$ 250,000
1 Year
rr_ExpenseExampleYear01
369
3 Years
rr_ExpenseExampleYear03
621
5 Years
rr_ExpenseExampleYear05
893
10 Years
rr_ExpenseExampleYear10
1,668
1 Year
rr_ExpenseExampleNoRedemptionYear01
369
3 Years
rr_ExpenseExampleNoRedemptionYear03
621
5 Years
rr_ExpenseExampleNoRedemptionYear05
893
10 Years
rr_ExpenseExampleNoRedemptionYear10
$ 1,668
Cohen & Steers Global Realty Shares, Inc. | Class Z
Risk/Return:
rr_RiskReturnAbstract
Maximum Sales Charge (Load) Imposed On Purchases (as % of offering price)
rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice
none
Maximum Deferred Sales Charge (Load) (as % of the net asset value at the time of purchase or redemption, whichever is lower)
rr_MaximumDeferredSalesChargeOverOther
none
Management Fee
rr_ManagementFeesOverAssets
0.75%
[1]
Distribution (12b-1) Fees
rr_DistributionAndService12b1FeesOverAssets
none
Other Expenses
rr_Component1OtherExpensesOverAssets
0.12%
[2]
Shareholder Service Fee
rr_Component2OtherExpensesOverAssets
none
Total Other Expenses
rr_OtherExpensesOverAssets
0.12%
[2]
Total Annual Fund Operating Expenses
rr_ExpensesOverAssets
0.87%
[3]
Fee Waiver/Expense Reimbursement
rr_FeeWaiverOrReimbursementOverAssets
none
[3]
Total Annual Fund Operating Expenses (after fee waiver/expense reimbursement)
rr_NetExpensesOverAssets
0.87%
[3]
1 Year
rr_ExpenseExampleYear01
$ 89
3 Years
rr_ExpenseExampleYear03
278
5 Years
rr_ExpenseExampleYear05
482
10 Years
rr_ExpenseExampleYear10
1,073
1 Year
rr_ExpenseExampleNoRedemptionYear01
89
3 Years
rr_ExpenseExampleNoRedemptionYear03
278
5 Years
rr_ExpenseExampleNoRedemptionYear05
482
10 Years
rr_ExpenseExampleNoRedemptionYear10
$ 1,073
1 Year
rr_AverageAnnualReturnYear01
12.96%
5 Years
rr_AverageAnnualReturnYear05
[9]
10 Years
rr_AverageAnnualReturnYear10
[9]
Inception Date
rr_AverageAnnualReturnInceptionDate
Oct. 01, 2014
Cohen & Steers Global Realty Shares, Inc. | Return After Taxes on Distributions | Class A
Risk/Return:
rr_RiskReturnAbstract
1 Year
rr_AverageAnnualReturnYear01
6.56%
5 Years
rr_AverageAnnualReturnYear05
4.97%
10 Years
rr_AverageAnnualReturnYear10
2.50%
Cohen & Steers Global Realty Shares, Inc. | Return After Taxes on Distributions and Sale of Fund Shares | Class A
Risk/Return:
rr_RiskReturnAbstract
1 Year
rr_AverageAnnualReturnYear01
4.47%
5 Years
rr_AverageAnnualReturnYear05
4.31%
10 Years
rr_AverageAnnualReturnYear10
2.34%
Cohen & Steers Global Realty Shares, Inc. | FTSE EPRA/NAREIT Developed Real Estate Index Net TRI (reflects no deduction for fees, expenses or taxes)
Risk/Return:
rr_RiskReturnAbstract
1 Year
rr_AverageAnnualReturnYear01
10.36%
[10]
5 Years
rr_AverageAnnualReturnYear05
6.32%
[10]
10 Years
rr_AverageAnnualReturnYear10
3.28%
[10]
Cohen & Steers Global Realty Shares, Inc. | S&P 500® Index (reflects no deduction for fees, expenses or taxes)
Risk/Return:
rr_RiskReturnAbstract
1 Year
rr_AverageAnnualReturnYear01
21.83%
[11]
5 Years
rr_AverageAnnualReturnYear05
15.79%
[11]
10 Years
rr_AverageAnnualReturnYear10
8.50%
[11]
[1]
Effective close of business March 23, 2018, the Fund's investment advisory fee was reduced from an annual rate of 0.80% of the average daily net assets of the Fund to an annual rate of 0.75% of the average daily net assets of the Fund.
[2]
Restated to reflect current fees.
[3]
Cohen & Steers Capital Management, Inc., the Fund’s investment advisor (the “Advisor”), has contractually agreed to waive its fee and/or reimburse expenses through June 30, 2019 so that the Fund’s total annual operating expenses (excluding acquired fund fees and expenses, taxes and extraordinary expenses) do not exceed 1.25% for Class A shares, 1.90% for Class C shares, 0.90% for Class F shares, 0.90% for Class I shares, 1.40% for Class R shares, 1.25% for Class T shares and 0.90% for Class Z shares. This contractual agreement can be amended at any time by agreement of the Fund's Board of Directors and the Advisor and will terminate automatically in the event of termination of the investment advisory agreement between the Advisor and the Fund.
[4]
The annual total returns for Class C, I, R and Z shares of the Fund are substantially similar to the annual total returns of Class A shares because the assets of all classes are invested in the same portfolio of securities. The annual total returns differ only to the extent that the classes do not have the same expenses. Class F shares and Class T shares are currently not available for purchase.
[5]
For Class C shares, the maximum deferred sales charge does not apply after one year.
[6]
Class F shares and Class T shares are currently not available for purchase.
[7]
The total annual fund operating expenses for Class F shares and Class T shares are estimated.
[8]
The maximum shareholder service fee for Class I shares and Class T shares is 0.10%.
[9]
The inception date for Class R and Class Z shares is October 1, 2014.
[10]
The FTSE EPRA/NAREIT Developed Real Estate Index-Net is an unmanaged market-capitalization-weighted total return index, which consists of publicly traded equity REITs and listed property companies from developed markets and is net of dividend withholding taxes.
[11]
The S&P 500 Index is an unmanaged index of common stocks that is frequently used as a general measure of U.S. stock market performance.
Label
Element
Value
Risk/Return:
rr_RiskReturnAbstract
Registrant Name
dei_EntityRegistrantName
COHEN & STEERS GLOBAL REALTY SHARES, INC
Prospectus Date
rr_ProspectusDate
May 01, 2018
Document Creation Date
dei_DocumentCreationDate
Apr. 27, 2018
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