Cohen & Steers, Inc. (CNS Quick QuoteCNS - Free Report) reported preliminary assets under management (AUM) of $75.2 billion as of Sep 30, 2023, which reflects a decrease of 6.1% from the prior-month level. Market depreciation of $4.3 billion, net outflows of $290 million and distributions of $283 million led to the decline.

Cohen & Steers recorded total institutional accounts of $31.2 billion at the end of September 2023, declining 6.8% from the August-end level. Of the total institutional accounts, advisory accounts were $17.9 billion, while the rest were sub-advisory.

Closed-end funds were $10.3 billion, decreasing 4.1% from the August 2023 level. Also, the company recorded $33.7 billion in open-end funds, marking a 6% decrease from the prior 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 major near-term headwind, which may hurt its financials to some extent.

Over the past three months, shares of Cohen & Steers have gained 2.5% against the industry’s decline of 1.8%.

Image Source: Zacks Investment Research

Among other asset managers, T. Rowe Price Group, Inc. (TROW Quick QuoteTROW - Free Report) and Lazard (LAZ Quick QuoteLAZ - Free Report) are expected to release preliminary AUM results for September in the coming days.

TROW and LAZ each carry a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.