<!-- Swiftype Variables -->

Money Management

Deutsche Asset Management’s AUM dips for quarter, year

Deutsche Asset Management's assets under management fell 1.3% over the quarter, and fell 0.6% over the year ended Dec. 31, to €702 billion ($840.9 billion), according to parent Deutsche Bank's fourth-quarter financial update.

The financial update said institutional assets under management fell 1.8% over both the three months and year ended Dec. 31, to €383 billion.

Net inflows for the fourth quarter totaled €1 billion, compared with €4 billion in net inflows for the third quarter, and €13 billion in net outflows for the fourth quarter of 2016.

Within that, institutional net outflows were €2 billion for the three months ended Dec. 31, compared with €4 billion in net inflows for the quarter ended Sept. 30. The quarter ended Dec. 31, 2016, recorded institutional net outflows of €4 billion.

For the calendar year 2017, net inflows totaled €16 billion, compared with €41 billion in net outflows the previous year. Institutional net inflows for the year were €6 billion, compared with €19 billion in net outflows in 2016.

The update said full-year net inflows were led by European exchange-traded funds, multiasset and liquidity strategies, but were partly offset by insurance asset outflows.