Shutting up shop for summer

Who wants to be launching a fund when they could be frolicking in the waves on holiday? The answer, it seems, is not many people. Fewer than 100 new products saw the light of day in August, together gathering just €4.1bn. Breaking its recent trend, BlackRock did not launch another ACS fund, and so did not clinch the top-launch accolade; that went to Schroders, with Amundi, T.Rowe Price, Aberdeen and Baillie Gifford rounding off the top-five. The dominance of third-party groups suggested that product developers at Europe's retail banks were particularly likely to have hit the beach!

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