OpenAI<\/a> launched ChatGPT in November 2022, JPMorgan’s investments arm calculates. U.S. retail investors’ share of wealth in equities is at its highest level in at least 75 years, Capital Economics has said.<\/p>\nDWS still “loves” the data centre sector – which serves AI-driven demand for computing power – and will invest in more built assets, Hoops said, adding it was selling its stake in data centre fund NorthC as it had matured and \u2060the time was right.<\/p>\n
REINVIGORATING EUROPEAN GROWTH<\/p>\n
Hoops has largely won over investors with a three-year turnaround at DWS \u200b\u2013 shares are up about 80% over his tenure \u2013 after being parachuted in from Deutsche \u200bBank following a damaging greenwashing scandal.<\/p>\n
DWS’s growth has been powered by inflows into passive platform XTrackers, while it is seeking to boost a more mixed performance across its active funds and private assets units, including through a credit tie-up with parent Deutsche Bank.<\/p>\n
Recent U.S. credit \u200dwobbles are not a big cause for concern,\u2060 Hoops said, but are a “wake-up call” for those piling into asset-backed lending that relies on less solid collateral.<\/p>\n
DWS’s record net inflows of 40.5 billion euros over the first nine months of this year partly reflected some overseas investors diversifying away from the U.S., Hoops said, \u2060although he added European governments needed to do more to boost growth.<\/p>\n
“A lot of good work is happening, but we now also need to get on with it,” Hoops said, adding he supported calls \u200cincluding from German Chancellor Friedrich Merz for a pan-European stock exchange but thought it would be tough going.<\/p>\n
($1 = 0.8575 euros)<\/p>\n
(Reporting \u200cby Iain Withers and Tommy Reggiori Wilkes, Additional reporting by Naomi RovnickEditing by Gareth Jones)<\/p>\n","protected":false},"excerpt":{"rendered":"By Iain Withers and Tommy Reggiori Wilkes LONDON (Reuters) -The explosion in the value of artificial intelligence stocks…\n","protected":false},"author":2,"featured_media":134790,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[365,363,364,8198,92273,92275,111,139,1042,87564,69,77424,92274,145],"class_list":{"0":"post-134789","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artificial-intelligence","8":"tag-ai","9":"tag-artificial-intelligence","10":"tag-artificialintelligence","11":"tag-deutsche-bank","12":"tag-dws","13":"tag-hoops","14":"tag-new-zealand","15":"tag-newzealand","16":"tag-nvidia","17":"tag-nvidia-stock","18":"tag-nz","19":"tag-retail-investors","20":"tag-stefan-hoops","21":"tag-technology"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/134789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=134789"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/134789\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/134790"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=134789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=134789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=134789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}