Launches ride to the rescue

2018 is shaping up to be pretty flat for net new business, but without the new crop of fund launches, sales would be verging on neutral. Total net flows stand at €113bn after three quarters but launches alone have raised €97bn of this, leaving just €16bn of pickings for existing products. The 1,472 newcomers so far in 2018 (excluding money market funds and funds of funds) have provided the silver lining to an otherwise cloudy year.

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