DWS Group, the German asset-management company and part of Deutsche Bank, has announced a small rise in aftertax profit for the third quarter. Despite challenging conditions in the capital markets, DWS reported an aftertax profit of 147 million euros ($155.7 million) for Q3, up from 145 million euros in the previous quarter. This figure matches the aftertax profit reported in the same period last year.
While revenues did decline slightly to 666 million euros from 668 million euros in Q2, DWS saw an increase in assets under management. The company reported that assets reached 860 billion euros at the end of the third quarter compared to 859 billion euros at the end of Q2.
Net inflows for the quarter totaled 2.3 billion euros, a decrease from the previous quarter’s net inflows of 9.3 billion euros. However, when excluding cash, net inflows amounted to 1.6 billion euros, down from 10.4 billion euros in the prior quarter. This is notable considering that the same period last year saw net outflows of 9.8 billion euros.
DWS credits its success in the third quarter to strong demand for its passive offerings, particularly its Xtrackers product line. These products have attracted substantial inflows.
Despite the challenges presented by current market conditions, DWS remains confident in its full-year guidance. The company expects to achieve its projected goals for the fiscal year.
To learn more about DWS Group and its financial services, visit their website or contact them directly.
