Cohen & Steers, Inc. (CNS Quick QuoteCNS - Free Report) reported preliminary assets under management (AUM) of $80 billion as of Aug 31, 2023, which reflected a decline of 2.8% from the prior-month level. Market depreciation of $2.2 billion and distributions of $157 million were partly offset by net inflows of $12 million.

CNS recorded total institutional accounts of $33.5 billion at the end of August 2023, declining 2.7% from the July-end level. Of the total institutional accounts, advisory accounts were $19 billion, while the rest were sub-advisory.

Closed-end funds were $10.7 billion, down 3.2% from the prior month. Also, the company registered $35.8 billion in open-end funds, marking a 2.8% fall from the previous 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 near-term headwind, which might hurt financials to some extent.

Over the past six months, shares of Cohen & Steers have lost 2.2% against the industry’s growth of 15.5%.

Image Source: Zacks Investment Research

Among other asset managers, Virtus Investment Partners (VRTS Quick QuoteVRTS - Free Report) and Lazard (LAZ Quick QuoteLAZ - Free Report) are expected to release preliminary AUM results for August in the coming days.

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