Today, EFAMA has published its latest International Quarterly Statistical Release for Q1 2026.

Thomas Tilley, Deputy Director of Research & Senior Economist at EFAMA: “Amid geopolitical uncertainty, global investment fund flows slowed in Q1 2026. Long-term fund flows in China turned negative. Net sales also dropped in Europe and the US but remained positive, as investors proved more resilient.”

We show the following main developments in the worldwide investment fund industry for Q1 2026:

• Net assets of worldwide investment funds increased by 1.4% in euro terms.

   

  • Net assets of worldwide investment funds rose by 1.4% in Q1 2026 to EUR 81.5 tn. Measured in U.S. dollars, worldwide investment fund net assets declined by 0.7%, due to an appreciation of the US dollar vis-à-vis the euro, to USD 93.7 tn.

     

  • Measured in local currency, net assets in the two largest fund markets evolved differently. They declined by 0.9% in the United States, while increasing by 0.5% in Europe.

• Net sales of global long-term funds decreased in Q1 2026 but remained positive.

   

  • Worldwide long-term funds attracted net inflows of EUR 668 bn, a decline from EUR 907 bn in Q4 2025. The United States led with EUR 321 bn. Europe saw net inflows of EUR 213 bn, primarily driven by Ireland and Luxembourg, which recorded net inflows of EUR 113 bn and EUR 47 bn, respectively. The rest of the Americas registered net inflows of EUR 109 bn, with Canada and Brazil contributing EUR 71 bn and EUR 29 bn. Japan and the Republic of Korea recorded net inflows of EUR 34 bn and EUR 31 bn, respectively. China shifted to net outflows of EUR 60 bn, compared to net inflows of EUR 96 bn in Q4 2025.

     

  • Equity funds registered net inflows of EUR 179 bn in Q1 2026, down from EUR 348 bn in the previous quarter. Europe recorded the highest net sales at EUR 88 bn, with Ireland contributing EUR 66 bn. The United States saw net inflows of EUR 84 bn, followed by Canada and Japan at EUR 34 billion each. In contrast, China recorded high net outflows of EUR 93 bn, compared to net inflows of EUR 32 bn in Q4 2025.

     

  • Bond funds continued to attract robust net inflows, totalling EUR 330 bn in Q1 2026, slightly below EUR 333 bn in the previous quarter. The United States recorded the largest inflows at EUR 245 bn, followed by Europe at EUR 69 bn, driven by net inflows from Ireland (EUR 29 bn) and Luxembourg (EUR 13 bn).

     

  • Multi-asset funds recorded net inflows of EUR 69 bn in Q1 2026, down from EUR 119 bn in Q4 2025. Europe posted EUR 42 bn, followed by Canada and China with EUR 14 bn each. The United States registered net outflows of EUR 10 bn, compared to net inflows of EUR 15 bn in Q4 2025.

     

  • Global ETFs (equity, bond, and other ETFs combined) attracted EUR 494 bn in net inflows during Q1 2026, down from EUR 699 bn in the previous quarter. The strongest net inflows were recorded in the United States (EUR 430 bn), followed by Europe (EUR 112 bn, with Ireland and Luxembourg contributing EUR 74 bn and EUR 30 bn, respectively), and Canada (EUR 45 bn). China recorded net outflows of EUR 102 bn in Q1 2026, compared to net inflows of EUR 64 bn in Q4 2025.

• Net inflows into worldwide money market funds (MMFs) declined.

   

  • Worldwide MMFs registered net inflows of EUR 165 bn in Q1 2026, down from EUR 401 bn in Q4 2025.

     

  • China accounted for net inflows of EUR 68 bn in Q1 2026, followed by Europe (EUR 57 bn), with Ireland and Luxembourg contributing EUR 32 bn and EUR 18 bn. The United States recorded net inflows of EUR 22 bn in Q1 2026, sharply down from EUR 370 bn in Q4 2025.

- ENDS –

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, Liechtenstein, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, United Kingdom, Australia, China, India, Japan, Republic of Korea, Pakistan, Philippines, Chinese Taipei (Taiwan), and South Africa.

For further information, please contact: 

Hayley McEwen

Head of communications and member development