Cohen & Steers (CNS Quick QuoteCNS - Free Report) reported preliminary assets under management (AUM) of $83.5 billion as of Feb 28, 2023, which reflects a decrease of 4.3% from the prior-month level. Market depreciation of $3.5 billion, net outflows of $118 million and distributions of $185 million led to the monthly decline.

CNS recorded total institutional accounts of $33.4 billion at the end of February 2023, falling 4.9% from the January-end level. Of the total institutional accounts, advisory accounts were $19 billion, while the rest were sub-advisory.

Closed-end funds were $11.4 billion, down 3.3% from January 2023. Also, Cohen & Steers recorded $38.7 billion in open-end funds, declining 4.2% from the prior month.

The company’s diverse product offerings, global reach and investment strategies are expected to support 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.

Over the past six months, shares of Cohen & Steers have declined 6.7% against a 3% rise 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 February in the coming days.

At present, both Invesco and T. Rowe Price carry a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.