Cohen & Steers (CNS Quick QuoteCNS - Free Report) reported preliminary assets under management (AUM) of $84.2 billion as of Nov 30, 2022, which reflects an increase of 5.3% from the prior-month level. Market appreciation of $4.6 billion supported the rise, partially offset by net outflows of $252 million and distributions of $177 million.

CNS recorded total institutional accounts of $33.9 billion at the end of November, rising 7.3% from the October-end level. Of the total institutional accounts, advisory accounts were $19.6 billion, while the rest were sub-advisory.

Closed-end funds were $11.5 billion, up 4% from October 2022. On the other hand, Cohen & Steers recorded $38.7 billion in open-end funds, up 3.9% from the prior month.

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, high expenses and a challenging operating environment are major near-term headwinds, which might hurt its financials to some extent.

So far this year, shares of Cohen & Steers have plunged 28.4% compared with a 21.7% decline recorded by the industry.
 

Image Source: Zacks Investment Research

Among other asset managers, Invesco (IVZ Quick QuoteIVZ - Free Report) and T. Rowe Price (TROW Quick QuoteTROW - Free Report) are expected to release preliminary AUM results for November in the coming days.

At present, Invesco carries a Zacks Rank #5 (Strong Sell), while T. Rowe Price has a Zacks Rank of 4 (Sell).

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.