DWS, the recently listed fund management arm of Deutsche Bank, continues to lose money from its active equity and fixed income funds, and said it is unlikely to hit its new business targets for its first year as a public company.

The firm’s losing streak is particularly pronounced in active equities, where customers withdrew a net €2bn from DWS funds between April and June,  higher than the net €1.7bn that left those funds during the first three months of the year. This part of the business has failed to post positive net flows in almost two years.