DWS : Headwind from capital markets environment & rising IT transformation costs
>Q3 2023 results ahead of expectations; mixed bag of key KPIs - DWS reported Q3 2023 adj. pre-tax profit of € 246m (down by 2.4% yoy) and thus ahead of our € 238m and € 234m consensus estimates. Key performance indicators came in weaker than expected with net flows at € 2.3bn vs € 6.0bn consensus expectation. The group’s management fee margin stood at 27.2bs slightly shy of 27.4bp consensus estimate. DWS indicated to incur elevated IT integration costs also in 2024 b...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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