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Cohen & Steers' (CNS) May AUM Down on Unfavorable Markets

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Cohen & Steers (CNS - Free Report) reported preliminary assets under management (AUM) of $94.3 billion as of May 31, 2022, which reflects a decline of 3.8% from the prior-month level. Market depreciation of $3 billion, distributions of $183 million and net outflows of $510 million led to the fall.

CNS recorded total institutional accounts of $37.1 billion at the end of May, down 4.6% from the April-end level. Of the total institutional accounts, advisory accounts were $21.6 billion, while the rest were sub-advisory.
Cohen & Steers recorded $44.8 billion in open-end funds, down 3.7% from the prior month. Closed-end funds were $12.4 billion, down 1.4% from April 2022.

The company’s diverse product offerings, global reach and investment strategies are expected to keep supporting financials. Its solid AUM balance will likely continue aiding the top line. However, elevated expenses might impede bottom-line growth to some extent.

Over the past year, shares of CNS have lost 2.6% compared with a 26.5% decline recorded by the industry.

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Among other asset managers, Invesco (IVZ - Free Report) and T. Rowe Price (TROW - Free Report) are expected to release preliminary AUM results for May in the coming days. Over the past year, shares of IVZ have lost 36.4%, while the TROW stock has declined 37.2%.

At present, Invesco carries a Zacks Rank #5 (Strong Sell), while T. Rowe Price has a Zacks Rank of 3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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