DWS profits sink in Q1 despite return to net inflows

Profits before tax fall 19%

DWS reported its adjusted profits before tax had fallen 19% to €206m in Q1 2023, despite seeing a return to net inflows.

In a quarterly statement today (April 27), the firm said its adjusted profits before tax were down 26% year-on-year, a 12% miss according to Jefferies. DWS unveils seven UN Sustainable Development Goal ETFs The results revealed a 54% drop in performance and transaction fees to €24m and a 3% fall in management fees led adjusted net revenue to miss targets by 5%. This was due to a favourable one-off cost effect in the previous quarter, along with lower revenues, the firm said. Net inflows excluding cash increased to €8.8bn in Q1, compared to €9.6bn in outflows in the previous ...