Asset Management

DWS profits beat expectations despite outflows

Analysts hail ‘strong cost control’ as shares bounce strongly

German fund manager DWS posted a €177m adjusted pre-tax profit in the third quarter, beating analysts’ consensus expectations by 16% and giving the company’s shares a boost.

Analysts hailed the asset manager’s progress on cost-cutting as responsible. In a note this morning, Exane's Arnaud Giblat wrote that the increase was driven by “strong cost control, which looks mostly sustainable to us”.

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