Cohen & Steers, Inc. (CNS - Free Report) reported preliminary assets under management (AUM) of $80 billion as of Aug 31, 2023, which reflected a decline of 2.8% from the prior-month level. Market depreciation of $2.2 billion and distributions of $157 million were partly offset by net inflows of $12 million.
CNS recorded total institutional accounts of $33.5 billion at the end of August 2023, declining 2.7% from the July-end level. Of the total institutional accounts, advisory accounts were $19 billion, while the rest were sub-advisory.
Closed-end funds were $10.7 billion, down 3.2% from the prior month. Also, the company registered $35.8 billion in open-end funds, marking a 2.8% fall from the previous month.
Cohen & Steers’ diverse product offerings, global reach and investment strategies are expected to support its financials. A solid AUM balance is likely to continue aiding the top line. However, a challenging operating environment is a near-term headwind, which might hurt financials to some extent.
Over the past six months, shares of Cohen & Steers have lost 2.2% against the industry’s growth of 15.5%.
Among other asset managers, Virtus Investment Partners (VRTS - Free Report) and Lazard (LAZ - Free Report) are expected to release preliminary AUM results for August in the coming days.
VTRS and LAZ currently carry a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
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Cohen & Steers, Inc. (CNS - Free Report) reported preliminary assets under management (AUM) of $80 billion as of Aug 31, 2023, which reflected a decline of 2.8% from the prior-month level. Market depreciation of $2.2 billion and distributions of $157 million were partly offset by net inflows of $12 million.
CNS recorded total institutional accounts of $33.5 billion at the end of August 2023, declining 2.7% from the July-end level. Of the total institutional accounts, advisory accounts were $19 billion, while the rest were sub-advisory.
Closed-end funds were $10.7 billion, down 3.2% from the prior month. Also, the company registered $35.8 billion in open-end funds, marking a 2.8% fall from the previous month.
Cohen & Steers’ diverse product offerings, global reach and investment strategies are expected to support its financials. A solid AUM balance is likely to continue aiding the top line. However, a challenging operating environment is a near-term headwind, which might hurt financials to some extent.
Over the past six months, shares of Cohen & Steers have lost 2.2% against the industry’s growth of 15.5%.
Among other asset managers, Virtus Investment Partners (VRTS - Free Report) and Lazard (LAZ - Free Report) are expected to release preliminary AUM results for August in the coming days.
VTRS and LAZ currently carry a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Free – 5 Dividend Stocks to Fund Your Retirement
Zacks Investment Research has released a Special Report to help you prepare for retirement with 5 diverse stocks that pay whopping dividends. They cut across property management, upscale outlets, financial institutions, and a couple of strong energy producers.
5 Dividend Stocks to Include in Your Retirement Strategy is packed with unconventional wisdom and insights you won’t get from your neighborhood financial planner.
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