Q1 2025 DWS Group GmbH & Co KgaA Earnings Call Transcript
Key Points
- DWS Group GmbH & Co KGaA reported strong Q1 2025 results with EUR11.7 billion in long-term net inflows, marking the second highest net inflows in the company's history.
- The company's cost-income ratio improved by 5.7 percentage points year on year to 62.2%, demonstrating effective cost management.
- DWS Group GmbH & Co KGaA's Xtrackers business delivered its ninth consecutive quarter of net flows, totaling EUR12.7 billion in Q1.
- The company launched a strategic partnership with Deutsche Bank to offer private credit investment opportunities, enhancing growth in its private credit unit.
- DWS Group GmbH & Co KGaA's promotion to the MDAX in March increased its visibility among investors, reflecting strong share price performance.
- The company experienced outflows in active equities and multi-assets, as well as in Alternatives, primarily due to technical reasons.
- Market volatility and geopolitical uncertainties, such as US tariffs, pose challenges to the asset management industry, impacting investor sentiment.
- DWS Group GmbH & Co KGaA's active equity strategies underperformed, with only 11% beating benchmarks over the last three years.
- The company's total assets under management remained flat quarter on quarter, affected by unfavorable ForEx movements and market depreciation.
- Institutional clients adopted a 'wait and see' approach, leading to cautious portfolio allocations and impacting institutional net flows.
Ladies and gentlemen, welcome to the Q1 2025 results investors and analyst conference call and live webcast. I'm Vicky, the Chorus Call operator. I would like to remind you that all participants will be in listen-only mode and the conference is being recorded. (Operator Instructions) The conference must not be recorded for publication or broadcast.
At this time, it's my pleasure to hand over to Oliver Flade. Please go ahead, sir.
Yeah. Vicky, thank you very much and good morning to everybody from Frankfurt. This is Oliver from Investor Relations, and I would like to welcome everybody to our earnings call for the first quarter of 2025.
Before we start, I would like to remind everybody that the upcoming Deutsche Bank analyst call will outline the asset management segments results as usual, which have a different parameter basis to the DWS results that we are presenting here.
I'm joined by Stefan Hoops, our CEO; and Markus Kobler, our CFO. Stefan will start as
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