More rain on the product parade

It may have been another challenging month for the industry in November but product developers still managed to launch a healthy set of new funds. New offerings numbered 206 – exactly in line with the monthly average for the year – although they generated a fairly punchy €12.5bn of net new money in a month that otherwise produced an industry-wide deficit of €48bn. This was, in fact, the strongest launch month of the year so far, at least in terms of net sales generation. The more secular trend, though, is one of product consolidation and rationalisation with the number of product launches this year set to be the leanest on record.

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