DWS kept assets under management stable at €833bn last quarter, despite the challenging market environment, while seeing the firm’s highest ever pre-tax profit in the first nine months of the year.
In the firm's Q3 results, DWS said that the high profits were due to steeper management fees and continued demand for high-margin alternatives, which saw €1bn in inflows last quarter. Profits before tax of €252m in Q3, which was down 7% year-on-year, but still high enough to push profits before tax to €804m in the first nine months of 2022, up 5% year on year and the highest on record for the firm. Q3 also saw a return to net inflows for the firm, at €7.7bn. However, DWS has still seen net outflows of €18.3bn throughout 2022. Stock Spotlight: Goldman Sachs clears restructuring worr...
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