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Release: Worldwide Regulated Open-End Fund Assets and Flows

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

Washington, DC; September 23, 2021—Worldwide regulated open-end fund assets increased 6.1 percent to $68.55 trillion at the end of the second quarter of 2021, excluding funds of funds. Worldwide net cash inflow to all funds was $853 billion in the second quarter, compared with $1.2 trillion of net inflows in the first 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 second 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 increased by US dollar depreciation over the second quarter of 2021. For example, on a US dollar–denominated basis, fund assets in Europe increased by 5.9 percent in the second 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

Q2

 

All funds*

47,938

53,872

56,920

63,051

64,627

68,551

 

    Long-term

40,246

45,715

48,854

54,735

56,155

59,987

 

       Equity

19,185

22,847

24,581

28,329

29,771

32,089

 

       Bond

10,810

11,626

12,222

13,054

12,922

13,509

 

       Balanced/Mixed

5,854

6,490

6,991

7,801

7,946

8,509

 

       Guaranteed

42

44

44

46

43

41

 

       Real Estate

1,073

1,129

1,216

1,308

1,283

1,348

 

       Other

3,281

3,579

3,800

4,197

4,190

4,491

 

    Money market

7,692

8,157

8,065

8,316

8,472

8,565

 

 Memo items included above:

       ETFs

5,144

6,095

6,638

7,684

8,277

9,039

 

       Institutional

4,614

4,935

5,220

5,687

5,533

5,839

 

*Excludes Funds of Funds where possible

On a US dollar–denominated basis, equity fund assets increased by 7.8 percent to $32.09 trillion at the end of the second quarter of 2021. Bond fund assets increased by 4.5 percent to $13.51 trillion in the second quarter. Balanced/mixed fund assets increased by 7.1 percent to $8.51 trillion in the second quarter, while money market fund assets increased by 1.1 percent globally to $8.56 trillion.

Percentage of Worldwide Regulated Open-End Fund Assets

By type of fund, 2021: Q2

By region, 2021: Q2

At the end of the second quarter of 2021, 47 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 12 percent of the worldwide total.

By region, 52 percent of worldwide assets were in the Americas in the second 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

Q2

 

All funds

691

910

291

744

1187

853

 

    Long-term

-223

424

487

654

924

774

 

       Equity

-19

-2

-31

192

347

256

 

       Bond

-229

307

325

326

318

304

 

       Balanced/Mixed

-26

52

129

115

186

120

 

       Guaranteed

-2

0

-1

-1

-1

-2

 

       Real Estate

15

12

10

14

10

12

 

       Other

38

56

54

8

64

85

 

    Money market

914

486

-196

90

263

79

 

 Memo Items Included Above:

       ETFs

124

170

183

256

358

327

 

       Institutional

53

22

55

75

108

83

 

Note: 46 jurisdictions reported data in Q1 2020 through Q2 2021.  Assets of reporting jurisdictions represented 96 percent of assets of all jurisdictions at the end of 2021: Q2. 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 $853 billion in the second quarter of 2021. Flows into equity funds worldwide were $256 billion in the second quarter, after experiencing $347 billion of net inflows in the first quarter of 2021.

Globally, bond funds posted an inflow of $304 billion in the second quarter of 2021, after recording an inflow of $318 billion in the first quarter.

Inflows from balanced/mixed funds worldwide totaled $120 billion in the second quarter of 2021, compared with $186 billion of inflows in the first quarter of 2021.

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 $79 billion in the second quarter of 2021 after registering an inflow of $263 billion in the first quarter of 2021.