Cohen & Steers, Inc. (CNS Quick QuoteCNS - Free Report) reported preliminary assets under management (AUM) of $80.5 billion as of May 31, 2024. This reflected growth of 4.3% from the prior month's level.

The increase was mainly attributable to a market appreciation of $3.6 billion. This was partly offset by net outflows of $93 million and distributions of $150 million.

Cohen & Steers recorded total institutional accounts of $32.1 billion at the end of May 2024, jumping 4.8% from the April 2024-end. Of the total institutional accounts, advisory accounts were $18.3 billion, while the rest were sub-advisory.

Closed-end funds were $11.1 billion, up 3.1% from the April 2024-end level. Further, Open-end funds were $37.3 billion, which rose 4.2% from the previous 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 year, Cohen & Steers shares have gained 16.5%, underperforming the industry’s growth of 26.5%.

Image Source: Zacks Investment Research

Competitive Landscape

We now look forward to the monthly performance metrics of Invesco (IVZ Quick QuoteIVZ - Free Report) and Franklin Resources (BEN Quick QuoteBEN - Free Report) , which are expected to release results in the coming days.

Currently, both IVZ and BEN carry a Zacks Rank of 3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.