DWS : Change of level and pace in costs
>Inflection in costs - This is a major positive development:The Cost/Income ratio fell to 69.2% with costs 5.8% lower than expected.The H1 2018 Cost/Income ratio was close to 75% vs 60%-65% for rivals and 50.5% at Amundi.The fall in costs suggested at the IPO was just -1% by our estimates, spread over several years. The Cost/Income ratio target of below 65% was therefore above all based on inflows (3% to 5% per year) and positive market effects. §h...DWS Group GmbH & Co KgaA is a Germany-based company that provides integrated investment solutions. The Company offers active, passive and alternative investments across a wide range of asset classes, including Hedge Funds, Sustainable Investments, Private Equity, Liquid Real Assets, Real Estate, Equities and Fixed Income. It invests primarily in the areas of environmental, social and governance. The Company's clients include corporations, central banks, insurers, pension funds, public institutions, financial institution, not-for-profit organizations, as well as private investors. The Company is active in around 22 countries in Europe. Deutsche Bank AG is a majority shareholder of the Company.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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