Cohen & Steers, Inc. CNS reported preliminary assets under management 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 and Franklin Resources BEN, which are expected to release results in the coming days.
Currently, both IVZ and BEN carry a Zacks Rank of 3 (Hold).

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