DWS GROUP GMBH & CO. KGAA fully committed to ensuring that DWS remains successful in the long-term. Following the achievement of our IPO medium-term targets, we are, in 2021, entering the second phase of our corporate journey as a publicly listed firm. For this next phase, we have a clear roadmap. Both for 2021 and beyond. DWS will further transform key parts of its organization, building on the work that has already been done. This includes doing everything we can to continue to strengthen our asset management focused approach. Therefore, we are developing and investing in a core platform, including IT and a policy framework, tailored to DWS' fiduciary business and its clients. This transformation also includes integrating new technology into our work, such as artificial intelligence. The use of data and algorithms will improve investment managers in their decision making in the future. And with the help of automation we will also ensure better and more efficient processes. We will also go through a cultural transformation that is performance-driven and a clear meritocracy, helping us to attract the best talents from a wide range of profiles and backgrounds. The introduction of flat hierarchies through our new functional role framework is the biggest milestone in this area and will also ensure that we can reduce hierarchical thinking. In this second phase of our corporate journey, DWS will grow - both organically and inorganically -, investing into targeted growth areas, building on our strengths and existing expertise. Above all, we will invest in areas where we can be a leader in our industry. For example, we want to be a leading European ETF provider. We will invest into investment strategies on both ends of the spectrum: high-margin asset classes and products in the Active and Alternatives space on one side, and into our scalable Passive business, especially in ETFs, on the other side. In all these areas, we already have strong market positions and proven expertise that we intend to build on further. We are equally committed to invest into expanding our client base. Therefore, we want to further leverage existing partnerships and find new ones - especially in the growth region of Asia. There, and particularly in China, we see great potential to broaden our client base. And finally, we will not slow down in targeting growth in the area of ESG investing. The subject of sustainability has become an indispensable part of the zeitgeist. And keeping our commitment to making ESG the core of what we do, we will invest into product innovations in this field and position us as the go-to one-stop-shop ESG investment manager. DWS will transform and grow profitably. We will do so to become a leading European asset management firm with global reach as we shape the second phase of our corporate journey after the IPO. Going forward we have set ourselves two medium-term financial targets: Until the end of 2024, we want to achieve an adjusted Cost-Income Ratio of 60 percent - with non-linear development especially in the investment phase - and net flows of more than 4 percent on average. For 2021, we expect the following developments: Revenues will benefit from higher market levels at the beginning of 2021, while we will see further benefits from our cost saving initiatives. In addition, we will see first investments into growth and transformation. At the same time, we will maintain an adjusted Cost-Income Ratio of below 65 percent. 2020 figures published in this quarterly release are preliminary and unaudited. Contact details for further information Media Relations Investor Relations Adib Sisani Oliver Flade +49 69 910 61960 +49 69 910 63072 adib.sisani@dws.com oliver.flade@dws.com Karsten Swoboda Jana Zubatenko +49 69 910 14941 +49 69 910 33834 karsten.swoboda@dws.com jana.zubatenko@dws.com Webcast/Call Asoka Woehrmann, Chief Executive Officer, and Claire Peel, Chief Financial Officer, will elaborate on the results in an investor and analyst call on 4 February 2021 at 10 am CET. The analyst webcast/call will be held in English and broadcasted on https://group.dws.com/ir/reports-and-events/financial-results/. It will also be available for replay. Further details will be provided under https://group.dws.com/ir/. About DWS Group DWS Group (DWS) is one of the world's leading asset managers with EUR 793bn of assets under management (as of 31 December 2020). Building on more than 60 years of experience, it has a reputation for excellence in Germany, Europe, the Americas and Asia. DWS is recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines. We offer individuals and institutions access to our strong investment capabilities across all major asset classes and solutions aligned to growth trends. Our diverse expertise in Active, Passive and Alternatives asset management - as well as our deep environmental, social and governance focus - complement each other when creating targeted solutions for our clients. Our expertise and on-the-ground-knowledge of our economists, research analysts and investment professionals are brought together in one consistent global CIO View, which guides our investment approach strategically. DWS wants to innovate and shape the future of investing: with approximately 3,500 employees in offices all over the world, we are local while being one global team. We are investors - entrusted to build the best foundation for our clients' future. Important Note This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of DWS Group GmbH & Co. KGaA. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events. By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks. This document contains alternative performance measures (APMs). For a description of these APMs, please refer to the Annual Report, which is available at https://group.dws.com/ir/reports-and-events/annual-report/. =---------------------------------------------------------------------------------------------------------------------- 2021-02-04 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de =---------------------------------------------------------------------------------------------------------------------- Language: English Company: DWS Group GmbH & Co. KGaA Mainzer Landstaße 11-17 60329 Frankfurt/Main Germany Phone: +49 (0) 69 910 14700 Fax: +49 (0) 69 910 32223 E-mail: investor.relations@dws.com Internet: https://group.dws.com/de/ir/ ISIN: DE000DWS1007 WKN: DWS100 Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1165657 End of News DGAP News Service =------------
1165657 2021-02-04
(END) Dow Jones Newswires
February 04, 2021 01:22 ET (06:22 GMT)
