In our latest International Quarterly Statistical Release, we show the following main developments in the worldwide investment fund industry:
Net assets of worldwide investment funds decreased by 0.2% in euro terms.
Net assets of worldwide investment funds reached EUR 64.33 trillion in Q3 2023. Measured in US dollar terms, the net assets declined by 2.7% to USD 68.1 trillion.
Measured in local currency, net assets in the two largest fund markets, the United States and Europe, decreased by 2.3% and 0.6%, respectively.
Net sales of global long-term funds decreased in Q3 2023 but remained positive.
Worldwide long-term funds recorded net inflows of EUR 98 bn, compared to EUR 180 bn in Q2 2023. The Asia-Pacific region experienced the highest net inflows (EUR 115 bn). Net sales were more subdued in the United States (EUR 10 bn) and Europe (EUR 3 bn).
Worldwide equity funds recorded net inflows of EUR 59 bn, compared to net outflows of EUR 30 bn in Q2 2023. China and Japan each recorded net sales of EUR 37 bn, followed by Ireland (EUR 28 bn). Conversely, the bulk of net outflows occurred in Luxembourg (EUR 21 bn) and the United States (EUR 11 bn).
Bond funds recorded net inflows of EUR 98 bn, a decline from EUR 209 bn in the previous quarter. The United States and Europe recorded the highest net sales (EUR 62 bn and EUR 22 bn, respectively). On the other hand, Brazil recorded net outflows of EUR 12 bn.
Multi-asset funds continued to record net outflows (EUR 85 bn), compared to EUR 53 bn in Q2 2023. The United States accounted for the majority of these net outflows (EUR 35 bn). China, Canada and Europe followed suit, each recording net outflows of around EUR 15 bn.
Net inflows into worldwide money market funds remained strong over the quarter.
Worldwide money market funds (MMFs) recorded net inflows of EUR 254 bn, down from EUR 288 bn in Q2 2023.
Europe's MMFs experienced net inflows of EUR 39 bn, up from EUR 9 bn in Q2 2023.
MMFs in the United States remained in favour, reporting net inflows of EUR 206 bn, up from EUR 183 bn in Q2 2023.
China experienced net outflows of EUR 11 billion, compared to net inflows of EUR 67 billion in Q2 2023.
Bernard Delbecque, Senior Director for Economics and Research, commented: “Net sales of long-term funds remained positive in Q3 2023, mainly thanks to strong net inflows into equity funds in China and Japan. On the other hand, investors in the US and Europe took a more conservative approach, mostly favouring money market funds and bond funds.”
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About the EFAMA Quarterly International Statistical Releases:
The EFAMA Worldwide Investment Fund Assets and Flows quarterly release focuses on net assets and net sales of worldwide investment funds, whilst also presenting a commentary on the trends in the industry during the quarter. The report contains data on the largest domiciles of investment funds around the globe and the position of Europe in the worldwide context. The report contains statistics from the following 45 countries: Argentina, Brazil, Canada, Chile, Costa Rica, Mexico, United States, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Lichtenstein, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, United Kingdom, Australia, China, India, Japan, Republic of Korea, Pakistan, Philippines, Taiwan, and South Africa.
For further information, please contact:
Hayley McEwen
Head of Communications & Membership Development
Tel: +32 2 548 26 52
Email: Hayley.McEwen@efama.org
