EFAMA today published its latest quarterly international statistics, tracking and analysing trends in worldwide regulated open-ended fund assets and flows for Q3 2021.
The main developments can be summarised as follows:
- Net assets of worldwide investment funds increased in euro terms - Net assets of worldwide investment funds increased by 2%. Measured in US dollar terms, worldwide investment fund net assets measured dropped by 0.6% due to the appreciation of the dollar.
- The asset growth of worldwide net fund assets was limited in Q3 2021 as global stock markets remained relatively flat over the quarter.
- Solid net inflows into long-term funds continued - Worldwide long-term funds recorded net inflows of EUR 677 billion, up compared to EUR 673 billion in Q2 2021. Net inflows reached EUR 208 billion in the United States, EUR 206 billion in Europe and EUR 160 billion in the Asia-Pacific region.
- Bond funds attracted the largest net sales (EUR 287 billion), mainly due to strong demand in the United States (EUR 130 billion), Europe (EUR 67 billion) and China (EUR 53 billion).
- Net sales of equity funds stayed strong (EUR 195 billion), with the United States (EUR 72 billion), Europe (EUR 57 billion) and Japan (EUR 26 billion) recording the highest net sales.
- Multi-asset funds recorded EUR 163 billion of net inflows, up from EUR 119 billion in Q2 2021. Europe accounted for the majority of global net sales (EUR 75 billion), followed by China (EUR 32 billion) and Canada (EUR 20 billion).
- Despite greater stock market volatility over the quarter, net inflows into long-term funds continued solid across all major regions.
- Net sales of money market funds continued to decline - Worldwide money market funds (MMFs) recorded net inflows of EUR 18 billion, compared to EUR 66 billion in Q2 2021.
- Europe continued to register net outflows of MMFs (EUR 10 billion), comparable to net outflows of EUR 14 billion in Q2 2021.
- Net sales of MMF in the United States was lacklustre (EUR 7 billion), compared to EUR 32 billion in Q2 2021.
- Also in China, traditionally a strong market for MMFs, net inflows were relatively low (EUR 12 billion).
- Net sales of worldwide MMFs dropped again in Q3 2021, as net sales declined in China and the United States and stayed negative in Europe.
Bernard Delbecque, Senior Director for Economics and Research – “Worldwide net sales of equity, bond and multi-asset investment funds remained strong in Q3 2021, in a context of sustained investor confidence despite greater stock market volatility.”
