Cohen & Steers (CNS Quick QuoteCNS - Free Report) reported preliminary assets under management (AUM) of $80 billion as of Oct 31, 2022, which reflects an increase of almost 1% from the prior-month level. Market appreciation of $1.5 billion supported the rise, partially offset by net inflows of $570 million and distributions of $172 million.

CNS recorded total institutional accounts of $31.6 billion at the end of October, rising 2.5% from the September-end level. Of the total institutional accounts, advisory accounts were $18.2 billion, while the rest were sub-advisory.

Closed-end funds were $11.1 billion, up 1.1% from September 2022. On the other hand, Cohen & Steers recorded $37.2 billion in open-end funds, down marginally 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, elevated expenses and a tough 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 35.6% compared with a 23% 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 October in the coming days.

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

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