Cohen & Steers International Realty Fund Class A (IRFAX) is a mutual fund that seeks total return through investment in real estate securities with a focus on international markets. The fund primarily invests in equity securities of real estate companies and real estate investment trusts (REITs) located outside the United States, including common stocks, preferred stocks, and convertible securities issued by companies principally engaged in the real estate industry; it also allocates to debt securities such as mortgage-backed securities, corporate bonds, and other fixed-income instruments related to real estate; additionally, it employs derivative instruments including futures, options, and swaps for hedging and efficient portfolio management. Cohen & Steers International Realty Fund operates globally with primary exposure to developed markets in Europe, Asia-Pacific, and emerging markets, targeting institutional and retail investors seeking diversified international real estate exposure.
Managed by Cohen & Steers Capital Management, Inc., headquartered in New York, New York, and founded in 1991 by Martin Cohen and Michael Steers, the fund was launched in 2007 as part of Cohen & Steers' suite of real estate-focused investment vehicles. The firm, which oversees approximately $80 billion in assets under management as of late 2025, specializes in real assets including global listed real estate, infrastructure, commodities, and preferred securities across multiple fund classes and strategies. Cohen & Steers International Realty Fund serves as a non-diversified portfolio within the firm's broader offerings, with no major subsidiaries but integrated into the parent company's global real estate platform.
In recent developments, the fund benefited from Cohen & Steers' strategic expansion into sustainable real estate investing, launching ESG-integrated variants in its international lineup in 2024 to align with growing demand for responsible investment strategies. The firm completed a significant acquisition of a European REIT analytics platform in early 2025, enhancing portfolio construction capabilities for funds like IRFAX amid volatile global property markets. Additionally, Cohen & Steers announced a partnership with leading Asian sovereign wealth funds in mid-2025 to co-invest in logistics and data center REITs, bolstering the fund's exposure to high-growth sectors in the Asia-Pacific region.