EQS-News

Q1 2024: DWS Generates Strong Net Inflows and Reaches New All-Time High for Assets under Management

EQS-News: DWS Group GmbH & Co. KGaA / Key word(s): Quarter Results Q1 2024: DWS Generates Strong Net Inflows and Reaches New All-Time High for Assets under Management 25.04.2024 / 06:59 CET/CEST The issuer is solely responsible for the content of this announcement.

• Long-term net flows (ex Cash and Advisory) increased to EUR 7.9bn in Q1 (Q4 2023: EUR 1.0bn). Including volatile low-margin Cash products and Advisory Services total net flows were EUR 7.8bn (Q4 2023: EUR 11.0bn). ESG funds attracted net inflows of EUR 1.7bn in Q1
• Assets under Management up by EUR 45bn to new record of EUR 941bn in Q1 (Q4 2023: EUR 896; Q1 2023: EUR 841bn); Long-term Assets under Management at EUR 827bn
• Adjusted Cost-Income Ratio (CIR) improved to 64.7% in Q1 (Q4 2023: 65.7%) – in line with DWS’ outlook for full year 2024
• Adjusted costs reduced to EUR 423m in Q1 (Q4 2023: EUR 433m), decline due to lower general and administrative expenses
• Adjusted revenues of EUR 653m in Q1 (Q4 2023: EUR 659m), slightly down 1% as higher management fees were overcompensated by seasonally lower performance fees
• Adjusted profit before tax at EUR 231m in Q1 (Q4 2023: EUR 226m), up 2%
• Net income increased by 20% to EUR 146m in Q1 (Q4 2023: EUR 122m)

 

 

Note: In the interest of increased transparency and due to the different nature and dynamics of the businesses, DWS has decided to separately show Assets under Management and flows from Cash products and Advisory Services[1] on the one hand and other assets and flows from the Active, Passive and Alternatives areas that are comparatively more long-term oriented than the former. Going forward, DWS will therefore disclose within Total AuM the separate categories Long-term AuM, Cash AuM and Advisory Services AuM. In terms of net flows[2], the corresponding categories within Total net flows will be Long-term net flows, Cash net flows and Advisory Services flows.