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MONEY MANAGEMENT

Deutsche Asset Management sees AUM rise 2.4% in quarter on €5 billion in net inflows

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Deutsche Asset Management recorded a 2.4% increase in assets under management to €723 billion ($776 billion) as of March 31, and a 1.7% increase for the 12-month period.

A financial update by the money manager's parent company Deutsche Bank cited inflows and favorable market developments as the key drivers for the increase.

Net inflows in the quarter were €5 billion, down from €13 billion in net inflows in the fourth quarter of 2016 €12 billion in net inflows for the first quarter of 2016.

The firm said it recorded inflows across active passive and alternative strategies in Asia-Pacific; Europe, Middle East and Africa excluding Germany; and in the U.S.

Further breakdowns on asset class AUM was not provided.