Cohen & Steers Announces Preliminary Assets Under Management and Net Flows for December 2025

Cohen & Steers, Inc. (NYSE: CNS) has released its preliminary assets under management (AUM) and net flows for December 2025. As of December 31, 2025, the firm reported AUM of $90.5 billion, marking a decline of $1.4 billion from the previous month's total of $91.9 billion. The decrease in AUM can be attributed to a combination of market depreciation totaling $1.4 billion and distributions of $574 million, which were only partially mitigated by net inflows of $574 million during the same period.

Breaking down AUM by investment vehicle reveals some significant insights. Institutional accounts experienced a drop, falling to a total of $35.1 billion. Within this category, advisory accounts adjusted down to $20.8 billion after accounting for net flows and distributions, while subadvisory accounts decreased to $14.2 billion. Open-end funds also faced challenges, concluding the month at $43.4 billion, impacted by outflows of $633 million. In contrast, closed-end funds slightly decreased to $12.0 billion, reflecting a net decrease from the previous month.

Cohen & Steers specializes in managing real assets and alternative income investments, highlighting its focus on areas such as listed and private real estate, preferred securities, and infrastructure. Established in 1986, the firm operates from its headquarters in New York City, with global offices in cities including London, Dublin, Hong Kong, Tokyo, and Singapore. The firm’s strategic focus on real assets aims to provide a diverse range of investment opportunities for investors seeking stability in alternating economic conditions. Overall, the latest figures underscore the backdrop of market volatility impacting AUM and fund flows in December 2025.

Cohen & Steers, Inc. recently reported preliminary assets under management (AUM) of $90.5 billion as of December 31, 2025, marking a decline of $1.4 billion from the previous month. This decrease is attributed primarily to market depreciation and distributions, despite net inflows totalling $574 million. The firm's shifting dynamics, notably in institutional accounts and open-end funds, warrant thorough analysis for potential investors.

The decline in AUM can be concerning; however, the $574 million net inflow suggests investor confidence remains relatively strong amidst market fluctuations. In the same context, the institutional accounts experienced a net outflow of $167 million, while open-end funds saw a remarkable inflow of $407 million. This discrepancy indicates a potential shift in asset allocation preferences, with investors favoring open-end structures, possibly due to their liquidity attributes.

Furthermore, Cohen & Steers specializes in real assets and alternative income, positioning itself within sectors that can potentially hedge against inflation and market volatility. The global emphasis on real estate, preferred securities, and resource equities presents a diversified investment strategy that could prove resilient over uncertain economic periods.

Despite the recent downturn in AUM, the company's ability to attract net inflows suggests a solid operational foundation and adaptable investment strategies. Investors might consider entering or increasing their investments in Cohen & Steers, especially if market conditions stabilize.

However, maintaining caution is essential, particularly in monitoring broader market conditions and investor sentiment towards alternative investment structures. The upcoming earnings reports will be crucial in assessing the firm's resilience and performance trajectory moving forward. As such, potential investors are advised to stay informed and ready to act as conditions evolve.