Research and Statistics

Release: Worldwide Regulated Open-End Fund Assets and Flows

Worldwide Regulated Open-End Fund Assets and Flows
First Quarter 2021

Washington, DC; June 16, 2021—Worldwide regulated open-end fund assets increased 2.5 percent to $64.63 trillion at the end of the first quarter of 2021, excluding funds of funds. Worldwide net cash inflow to all funds was $1.2 trillion in the first quarter, compared with $744 billion of net inflows in the fourth quarter of 2020.

The Investment Company Institute compiles worldwide regulated open-end fund statistics on behalf of the International Investment Funds Association (IIFA), the organization of national fund associations. The collection for the first quarter of 2021 contains statistics from 46 jurisdictions.

Worldwide Assets of Regulated Open-End Funds
Trillions of US dollars, end of quarter

Note: Regulated open-end funds include mutual funds, exchange-traded funds, and institutional funds.

The growth rate of total regulated open-end fund assets reported in US dollars was decreased by US dollar appreciation over the first quarter of 2021. For example, on a US dollar–denominated basis, fund assets in Europe decreased by 0.2 percent in the first quarter, compared with an increase of 4.5 percent on a euro-denominated basis.

Net Assets of Worldwide Regulated Open-End Funds
Billions of US dollars
  2020 2021
  Q1 Q2 Q3 Q4 Q1
All funds* 47,938 53,874 56,924 63,056 64,629
    Long-term 40,246 45,718 48,858 54,739 56,150
       Equity 19,185 22,850 24,584 28,333 29,763
       Bond 10,810 11,626 12,222 13,054 12,922
       Balanced/Mixed 5,854 6,490 6,991 7,801 7,946
       Guaranteed 42 44 44 46 44
       Real Estate 1,073 1,130 1,216 1,308 1,285
       Other 3,281 3,579 3,800 4,197 4,190
    Money market 7,692 8,156 8,066 8,317 8,479
Memo items included above:
       ETFs 5,144 6,095 6,638 7,684 8,278
       Institutional 4,614 4,935 5,220 5,687 5,533

*Excludes Funds of Funds where possible

On a US dollar–denominated basis, equity fund assets increased by 5.0 percent to $29.76 trillion at the end of the first quarter of 2021. Bond fund assets decreased by 1.0 percent to $12.92 trillion in the first quarter. Balanced/mixed fund assets increased by 1.9 percent to $7.95 trillion in the first quarter, while money market fund assets increased by 1.9 percent globally to $8.48 trillion.

Percentage of Worldwide Regulated Open-End Fund Assets

By type of fund, 2021:Q1

By region, 2021:Q1

 

At the end of the first quarter of 2021, 46 percent of worldwide regulated open-end fund assets were held in equity funds. The asset share of bond funds was 20 percent and the asset share of balanced/mixed funds was 12 percent. Money market fund assets represented 13 percent of the worldwide total.

By region, 52 percent of worldwide assets were in the Americas in the first quarter of 2021, 34 percent were in Europe, and 14 percent were in Africa and the Asia-Pacific regions.

 

Net Sales of Worldwide Regulated Open-End Funds
Billions of US dollars
  2020 2021
  Q1 Q2 Q3 Q4 Q1
All funds 691 910 291 744 1,187
    Long-term -223 424 487 654 924
       Equity -19 -2 -31 192 347
       Bond -229 307 325 326 317
       Balanced/Mixed -26 52 129 115 186
       Guaranteed -2 0 -1 -1 -1
       Real Estate 15 12 10 14 10
       Other 38 56 54 8 64
    Money market 914 486 -196 90 263
Memo Items Included Above:
       ETFs 124 170 183 256 358
       Institutional 53 22 55 75 108

Note: 46 jurisdictions reported data in Q1 2020 through Q1 2021.  Assets of reporting jurisdictions represented 96 percent of assets of all jurisdictions at the end of 2021: Q1. Net sales are new sales plus reinvested dividends less redemptions plus net exchanges. Components may not add to the total because of rounding or unclassified funds. Funds of funds are excluded where possible.

Net sales of regulated open-end funds worldwide were $1,187 billion in the first quarter of 2021. Flows into equity funds worldwide were $347 billion in the first quarter, after experiencing $192 billion of net inflows in the fourth quarter of 2020.

Globally, bond funds posted an inflow of $317 billion in the first quarter of 2021, after recording an inflow of $326 billion in the fourth quarter.

Inflows from balanced/mixed funds worldwide totaled $186 billion in the first quarter of 2021, compared with $115 billion of inflows in the fourth quarter of 2020.

 

Worldwide Net Sales of Regulated Open-End Funds by Region
Billions of US dollars

 

Worldwide Long-Term and Money Market Net Sales
Billions of US dollars

Money market funds worldwide experienced an inflow of $263 billion in the first quarter of 2021 after registering an inflow of $90 billion in the fourth quarter of 2020.