The European Fund and Asset Management Association (EFAMA) has today published its European Quarterly Statistical Release for the fourth quarter of 2025, together with updated figures for the full year 2025.
Ella Vacic, Junior Data Analyst at EFAMA, commented on the Q4 2025 figures: “All fund categories experienced net inflows in Q4 2025, with continued strong demand for long-term funds. This investor confidence was driven by broad-based equity gains, particularly in Europe, and continued interest rate cuts.”
The main developments in Q4 2025 are as follows:
Net assets of UCITS and AIFs rose by 2.8%.
UCITS and AIFs attracted EUR 233 billion in net inflows. Net sales of UCITS amounted to EUR 197 billion, while AIFs registered net inflows of EUR 36 billion.
Long-term funds saw strong net inflows of EUR 216 billion, led by bond funds (EUR 87 billion), followed by multi-asset funds (EUR 64 billion) and equity funds (EUR 54 billion).
MMFs recorded net sales of EUR 17 billion, down from EUR 39 billion in Q3.
Long-term SFDR Article 9 funds saw their ninth consecutive quarter of net outflows, totalling EUR 6.6 billion, while long-term Article 8 funds attracted EUR 70.1 billion in new money.
European households maintained their appetite for investment funds in Q3 2025, with net fund acquisitions reaching EUR 66 billion.
2025 full-year updated figures show:
Net assets of UCITS increased by 9.7%, ending the year at EUR 16.7 trillion.
Net sales of UCITS reached EUR 819 billion.
Net sales of equity UCITS surged to EUR 241 billion.
Net sales of bond UCITS totalled EUR 308 billion.
Multi-asset UCITS returned to positive net sales, totalling EUR 70 billion.
MMF UCITS attracted strong net inflows of EUR 143 billion.
Net assets of AIFs increased by 4.1% to EUR 8.5 trillion.
Net sales of AIFs reached EUR 69 billion. Net sales of multi-asset and other AIFs reached EUR 53 billion and EUR 31 billion, respectively, whereas equity AIFs suffered net outflows of EUR 34 billion.
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Notes to editors
About the EFAMA Quarterly Statistical Release:
The release is published by EFAMA every quarter and presents net sales and net assets data for UCITS and AIFs for 29 European countries: Austria, Belgium, Bulgaria, 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, and United Kingdom. It also includes a section providing information on the owners of investment funds in Europe and their net purchases of funds.
For further information, please contact:
Hayley McEwen
Head of communications & membership development
