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Frankfurt / Main (dpa) - Higher fee income and other income brought the Deutsche Bank fund subsidiary DWS a strong profit increase in the first quarter.
At 169 million euros, the surplus was 39 percent higher than a year earlier, as the SDax-listed company announced in Frankfurt on Wednesday.
Revenues rose 21 percent to EUR 634 million thanks to higher performance fees and the Chinese holding, Harvest.
DWS thus fared significantly better than analysts expected on average.
However, the DWS funds were only able to collect around one billion euros in net new money from their customers.
Analysts had expected significantly more here.
According to the information, however, investors mainly withdrew money from cash products, from which DWS earns comparatively little.
Without cash products, the net inflow of funds amounted to 9.7 billion euros.
This is the second highest value since the fund provider went public in 2018, it said.
© dpa-infocom, dpa: 210428-99-381879 / 2