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Q3 2021 Quarterly Statement Frankfurt / Main Q3 2021 : DWS Sees Record High Profit on Strong Overall and ESG Net Inflows Net flows of EUR 12.0bn in Q3 resulting in record EUR 32.6bn in the first nine months of 2021 ; September net flows EUR 4.8bn ; Net flows in ESG funds EUR 5bn in Q3 ( Q2 2021 : EUR 4bn ) Adjusted costs increased by 4 % to EUR 393m in Q3 ( Q2 2021 : EUR 379m ) ; EUR 1,157m in 9M 2021 , up 10 % y - o - y driven by a mix of drivers including increased costs for services in connection with higher AuM as well as professional fees associated with growth projects Adjusted Cost - Income Ratio ( CIR ) at a record low of 59.2 % in Q3 ( Q2 2021 : 60.6 % ) and at 60.1 % after 9M 2021 ( 9M 2020 : 64.3 % ) Adjusted profit before tax increased by 10 % to an all - time high of EUR 271m in Q3 ( Q2 2021 : EUR 247m ) ; EUR 766m in 9M 2021 , up 31 % y - o - y Revenues ( EUR m ) Total revenues up by 6 % to EUR 664m in Q3 ( Q2 2021 : EUR 625m ) , in 9M 2021 EUR 1,923m , up 18 % y - o - y AuM further up by EUR 21bn to EUR 880bn in Q3 ( Q2 2021 : EUR 859bn ) Net Flows ( EUR bn ) & Revenues 558 10.5 6.2 Q3 20 Net flows 625 19.7 14.2 Q2 21 664 12.0 10.0 Q3 21 Net flows ex Cash " Our strong relationships with our clients across markets globally have enabled us to achieve record values for net inflows , efficiency and profitability in 2021 so far . Due to the high demand for DWS products and solutions , we have reached the net inflows targeted in the medium term on average for 2021 after just nine months . The trust placed in us by our clients is a further motivation not to slow down our efforts to pursue our strategy to transform , grow and lead . " Asoka Woehrmann , CEO Published by the Communications and IR Departments DWS Group GmbH & Co. KGaA https://group.dws.com Adjusted 61.4 CIR ( % ) // DWS Adjusted CIR & Adjusted Costs 342 October 27 , 2021 Q3 20 60.6 Claire Peel , CFO 379 59.2 Q2 21 Q3 21 Adjusted costs ( EUR m ) " Record high management fees led to a record adjusted pre - tax profit and enabled us to bring our adjusted CIR to an all - time low of 59.2 percent despite investments into growth projects in the quarter . Year on - year , it improved by 4.1 percentage points to 60.1 percent in the first nine months of 2021. Over the same period , net inflows almost doubled to EUR 32.6 billion driven by targeted growth in accordance with our Phase 2 strategy . In September , we recorded strong net inflows of EUR 4.8 billion . " 393 Mainzer Landstr . 11-17 60329 Frankfurt , Germany