Cohen & Steers, Inc. (CNS Quick QuoteCNS - Free Report) reported preliminary assets under management (AUM) of $83.1 billion as of Dec 31, 2023. This reflected a rise of 5.6% from the prior month's level.

The improvement was driven by a positive net inflow of $61 million and a market appreciation of $4.8 billion. These were partially offset by distributions of $408 million.

Cohen & Steers recorded total institutional accounts of $35 billion at the end of December 2023, increasing 7.1% from the November-end level. Of the total institutional accounts, advisory accounts were $20.3 billion, while the rest were sub-advisory.

Closed-end funds were $11.1 billion, up 3.5% from the November-end level. Also, Open-end funds were $37 billion, which improved 5% from the prior month.

CNS’ diverse product offerings, global reach and investment strategies are expected to support its financials. A solid AUM balance is likely to continue supporting the top line. However, a challenging operating environment is a major near-term headwind, which might hurt its financials to some extent.

Over the past three months, shares of Cohen & Steers have gained 19% compared with the industry’s growth of 16.8%.
 

Image Source: Zacks Investment Research

Among the other asset managers, Invesco (IVZ Quick QuoteIVZ - Free Report) and Franklin Resources, Inc. (BEN Quick QuoteBEN - Free Report) are set to announce their preliminary AUM balance for December 2023 in the coming days.

Invesco has a Zacks Rank #4 (Sell), while Franklin carries a Zacks Rank #3 (Hold) at present.

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