Four of the 10 firms posted October AUM gains, led by Cohen & Steers, as the group’s total assets under management fell 1.3% alongside a 0.9% decline in the S&P 500.
Cohen & Steers’ AUM increased 3.86%, the largest gain among the firms. Virtus Investment had the sharpest contraction, with AUM down 5.23%. Victory Capital, Franklin Templeton and AllianceBernstein also recorded increases.
The combined October decline was less severe than the 1.8% decrease in September. The figures came amid weakening equity markets ahead of the U.S. midterm elections, a backdrop described alongside the two monthly declines.
