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Release: Worldwide Regulated Open-End Fund Assets and Flows

Worldwide Regulated Open-End Fund Assets and Flows
First Quarter 2022

Washington, DC; June 16, 2022—Worldwide regulated open-end fund assets decreased 4.6 percent to $67.80 trillion at the end of the first quarter of 2022, excluding funds of funds. Worldwide net cash inflow to all funds was $81 billion in the first quarter, compared with $1.1 trillion of net inflows in the fourth quarter of 2021.

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 2022 contains statistics from 46 jurisdictions.

Worldwide Assets of Regulated Open-End Funds
Trillions of US dollars, end of quarter
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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 2022. For example, on a US dollar–denominated basis, fund assets in Europe decreased by 6.5 percent in the first quarter, compared with a decrease of 4.6 percent on a euro-denominated basis.

Net Assets of Worldwide Regulated Open-End Funds
Billions of US dollars
  2021 2022  
  Q1 Q2 Q3 Q4 Q1  
All funds* 64,611 68,577 68,362 71,057 67,796  

Long-term

56,138 60,013 59,841 62,222 59,161  

Equity

29,756 32,088 31,867 33,640 31,652  

Bond

12,921 13,508 13,639 13,716 13,047  

Balanced/Mixed

7,945 8,542 8,496 8,789 8,372  

Guaranteed

43 40 36 33 33  

Real Estate

1,284 1,349 1,330 1,371 1,385  

Other

4,189 4,485 4,474 4,674 4,672  

Money market

8,473 8,564 8,521 8,834 8,635  
Memo items included above:  

ETFs

8,277 9,038 9,183 9,941 9,703  

Institutional

5,533 5,839 5,755 5,839 4,665  

*Excludes Funds of Funds where possible

On a US dollar–denominated basis, equity fund assets decreased by 5.9 percent to $31.65 trillion at the end of the first quarter of 2022. Bond fund assets decreased by 4.9 percent to $13.05 trillion in the first quarter. Balanced/mixed fund assets decreased by 4.7 percent to $8.37 trillion in the first quarter, while money market fund assets decreased by 2.3 percent globally to $8.64 trillion.

Percentage of Worldwide Regulated Open-End Fund Assets
By type of fund, 2022:Q1 By region, 2022:Q1
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At the end of the first quarter of 2022, 47 percent of worldwide regulated open-end fund assets were held in equity funds. The asset share of bond funds was 19 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, 53 percent of worldwide assets were in the Americas in the first quarter of 2022, 32 percent were in Europe, and 15 percent were in Africa and the Asia-Pacific regions.

Net Sales of Worldwide Regulated Open-End Funds
Billions of US dollars
  2021 2022  
  Q1 Q2 Q3 Q4 Q1  
All funds 1,187 855 794 1,109 81  

Long-term

924 776 772 800 291  

Equity

347 257 223 297 199  

Bond

318 304 337 235 -56  

Balanced/Mixed

186 120 178 146 86  

Guaranteed

-1 -2 -2 -2 -1  

Real Estate

10 12 8 3 -2  

Other

64 85 29 120 65  

Money market

263 79 22 308 -210  
Memo Items Included Above:  

ETFs

358 327 260 337 298  

Institutional

108 83 122 116 77  

Note: 46 jurisdictions reported data in Q1 2021 through Q1 2022. Assets of reporting jurisdictions represented 96 percent of assets of all jurisdictions at the end of 2022: 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 $81 billion in the first quarter of 2022. Flows into equity funds worldwide were $199 billion in the first quarter, after experiencing $297 billion of net inflows in the fourth quarter of 2021.

Globally, bond funds posted an outflow of $56 billion in the first quarter of 2022, after recording an inflow of $235 billion in the fourth quarter.

Inflows from balanced/mixed funds worldwide totaled $86 billion in the first quarter of 2022, compared with $146 billion of inflows in the fourth quarter of 2021.

Worldwide Net Sales of Regulated Open-End Funds by Region
Billions of US dollars
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Worldwide Long-Term and Money Market Net Sales
Billions of US dollars
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Money market funds worldwide experienced an outflow of $210 billion in the first quarter of 2022 after registering an inflow of $308 billion in the fourth quarter of 2021.