497 1 d44214d497.htm COHEN & STEERS VARIOUS FUNDS Cohen & Steers Various Funds

COHEN & STEERS REALTY SHARES, INC.

CLASS A (CSJAX), CLASS C (CSJCX), CLASS F (CSJFX), CLASS I (CSJIX),

CLASS L (CSRSX), CLASS R (CSJRX) AND CLASS Z (CSJZX) SHARES

Supplement dated October 28, 2020 to

Summary Prospectus dated May 1, 2020

Prospectus dated May 1, 2020, as supplemented on August 13, 2020

Statement of Additional Information dated September 1, 2020

COHEN & STEERS INSTITUTIONAL REALTY SHARES, INC. (CSRIX)

Supplement dated October 28, 2020 to

Summary Prospectus and Prospectus dated May 1, 2020

Statement of Additional Information dated September 1, 2020

Thomas Bohjalian, Executive Vice President and Head of the U.S. Real Estate investment team of Cohen & Steers Capital Management, Inc. (the “Advisor”), has announced his intention to retire from the Advisor on June 30, 2021. Effective May 1, 2021, Thomas Bohjalian will no longer serve as a portfolio manager to Cohen & Steers Realty Shares, Inc. and Cohen & Steers Institutional Realty Shares, Inc. (each a “Fund” and collectively, the “Funds”).

In addition, effective November 30, 2020, Mathew Kirschner will be added as a portfolio manager of the Funds. As of September 30, 2020, Mathew Kirschner did not beneficially own any equity securities of the Funds.

Accordingly, the section titled “Investment Management—Portfolio Managers” of each Fund’s Summary Prospectus and Prospectus is hereby replaced in its entirety with the following:

The Fund’s portfolio managers are:

Thomas Bohjalian—Executive Vice President of the Advisor. Mr. Bohjalian has been a portfolio manager of the Fund since 2012.

Jon Cheigh—Chief Investment Officer and Executive Vice President of the Advisor. Mr. Cheigh has been a portfolio manager of the Fund since 2007.

Jason Yablon—Senior Vice President of the Advisor. Mr. Yablon has been a portfolio manager of the Fund since 2013.

Mathew Kirschner—Senior Vice President of the Advisor. Mr. Kirschner has been a portfolio manager of the Fund since 2020.

In addition, the section titled “Management of the Fund—Portfolio Managers” of each Fund’s Prospectus is hereby replaced in its entirety with the following:

The Fund’s portfolio managers are:

Thomas Bohjalian—Mr. Bohjalian joined the Advisor in 2002 and currently serves as Executive Vice President of the Advisor, and Head of the U.S. Real Estate investment team. Mr. Bohjalian is a Chartered Financial Analyst charterholder. He is based in New York.

 

CSRCSIRPROSUP-10-2020

 

Jon Cheigh—Mr. Cheigh joined the Advisor in 2005 and currently serves as Executive Vice President of the Advisor, Chief Investment Officer and Head of the Global Real Estate investment team. He is based in New York.

Jason Yablon—Mr. Yablon joined the Advisor in 2004 and currently serves as Senior Vice President of the Advisor, and is a senior member of the U.S. Real Estate investment team. He is based in New York.

Mathew Kirschner—Mr. Kirschner joined the Advisor in 2004 and currently serves as Senior Vice President of the Advisor and a member of the U.S. real estate investment team. Mr. Kirschner is a Chartered Financial Analyst charterholder. He is based in New York.

The Advisor utilizes a team-based approach in managing the Fund. Messrs. Bohjalian, Cheigh, Yablon and Kirschner direct and supervise the execution of the Fund’s investment strategy, and lead and guide the other members of the investment team.

The SAI contains additional information about the portfolio managers’ compensation, other accounts they manage, and their ownership of securities in the Fund.

In addition, the “Accounts Managed” table of the section titled “Investment Advisory and Other Services—Portfolio Managers” of the Funds’ Statement of Additional Information is hereby revised with respect to each Fund as follows:

 

     Number of Other Accounts Managed and Assets ($mm) by Account Type  
   Registered Investment
Companies		        Other Pooled
Vehicles		        Other
Accounts		  
   Number
of
Accounts		      Total
Assets		        Number
of
Accounts		      Total
Assets		        Number
of
Accounts		      Total
Assets		  

Realty Shares*

                      

Thomas Bohjalian

      7      $ 13,053          17      $ 9,466          19      $ 3,311 (1) 

Jon Cheigh

      8      $ 6,263          35      $ 4,255          22      $ 5,812 (2) 

Jason Yablon

      6      $ 12,564          10      $ 1,049          11      $ 4,110 (1) 

Mathew Kirschner

      5      $ 12,555          7      $ 8,696          0      $ 0  

Institutional Realty Shares*

                      

Thomas Bohjalian

      7      $ 15,062          17      $ 9,466          19      $ 3,311 (1) 

Jon Cheigh

      8      $ 8,272          35      $ 4,255          22      $ 5,812 (2) 

Jason Yablon

      6      $ 14,573          10      $ 1,049          11      $ 4,110 (1) 

Mathew Kirschner

      5      $ 14,564          7      $ 8,696          0      $ 0  

 

*

Other accounts managed data as of September 30, 2020.

(1)

Two “Other Accounts”, with total assets of $118.8 million as of September 30, 2020, are subject to performance based fees.

(2)

One “Other Account”, with total assets of $310.1 million as of September 30, 2020, is subject to performance based fees.

PLEASE RETAIN THIS SUPPLEMENT FOR YOUR RECORDS

 

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