Report
Steven Gould

DWS : La bataille du Cost/Income n’est pas gagnée

>La déformation du business-mix pourrait stabiliser les marges - Le T2 2019 affiche une collecte nette de 4.1 Md€ mais seulement 0.5 Md€ ex-trésorerie. Hors trésorerie, le schéma reste le même qu’au T1 : les moteurs de collecte (passive et alternative) compensent la décollecte en equity, fixed income et quantitatif. Ainsi, les gestions Equity et SQI affichent chacune 10 trimestres de décollecte d’affilée et 7 pour le Fixed Income. DWS semble enfin tirer profit de l’ap...
Underlying
DWS Group GmbH & Co. KGaA

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Steven Gould

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