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Money Management

DWS Group assets rise in quarter, year but sees quarterly revenues slip

DWS Group's assets under management rose 6% in the first quarter to €704 billion ($789.6 billion), driven by the market recovery and supported by net inflows and the positive impact from exchange-rate movements.

A financial update Friday said AUM increased 4% for the 12-months ended March 31.

Net inflows totaled about €2.5 billion for the three months ended March 31, and net outflows for the quarter ended Dec. 31 were €7 billion.

Active strategies had net outflows of €6.3 billion in the first quarter, while passive strategies saw net inflows of €6.2 billion.

Total revenue in the quarter fell 3% to €534 million.

Net income totaled €102 million for the three months ended March 31, compared with €80 million for the quarter ended Dec. 31.

"In a strong first quarter we successfully returned to positive net flows, managed our costs effectively and saw our asset base increase by 6%," DWS CEO Asoka Woehrmann said in a news release accompanying the update. "Our flagship funds performed well and contributed to our net flows, as did our strategic partnerships."