Short-Term Rates Remaining Higher for Longer Will Affect Cohen & Steers' Flows and AUM Levels

A combination of rising interest rates, equity and credit market headwinds, and increased competition from private real estate investment vehicles offered by alternative-asset managers and other traditional asset managers has had (and is likely to continue to have) an adverse effect on Cohen & Steers' level of managed assets. The firm ended February with $98.4 billion in managed assets, up 11.1% year over year and 7.7% below the peak of $106.6 billion at the end of December 2021.