Worldwide Regulated Open-End Fund Assets and Flows
Third Quarter 2020

Washington, DC; December 21, 2020—Worldwide regulated open-end fund assets increased during the third quarter of 2020 by 5.6 percent to $56.91 trillion at the end of the quarter, excluding funds of funds. Worldwide net cash inflow to all funds was $292 billion in the third quarter, compared with $910 billion of net inflows in the second 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 third quarter of 2020 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 third quarter of 2020. For example, on a US dollar–denominated basis, fund assets in Europe increased by 7.4 percent in the third quarter, compared with an increase of 2.7 percent on a euro-denominated basis.

Net Assets of Worldwide Regulated Open-End Funds
Billions of US dollars

*Excludes Funds of Funds where possible

On a US dollar–denominated basis, equity fund assets increased by 7.6 percent to $24.59 trillion at the end of the third quarter of 2020. Bond fund assets increased by 5.1 percent to $12.22 trillion in the third quarter. Balanced/mixed fund assets increased by 7.7 percent to $6.99 trillion in the third quarter, while money market fund assets decreased by 1.1 percent globally to $8.07 trillion.

Percentage of Worldwide Regulated Open-End Fund Assets

At the end of the third quarter of 2020, 43 percent of worldwide regulated open-end fund assets were held in equity funds. The asset share of bond funds was 21 percent and the asset share of balanced/mixed funds was 12 percent. Money market fund assets represented 14 percent of the worldwide total.

By region, 52 percent of worldwide assets were in the Americas in the third quarter of 2020, 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 dollars

Note: Forty-seven jurisdictions reported data from Q1 2019 through Q4 2019; 46 jurisdictions reported data in Q1 2020 through Q3 2020.  Assets of reporting jurisdictions represented 96 percent of assets of all jurisdictions at the end of 2020: Q3. 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 $292 billion in the third quarter of 2020. Flows out of equity funds worldwide were $31 billion in the third quarter, after experiencing $2 billion of net outflows in the second quarter of 2020.

Globally, bond funds posted an inflow of $325 billion in the third quarter of 2020, after recording an inflow of $307 billion in the second quarter.

Inflows from balanced/mixed funds worldwide totaled $129 billion in the third quarter of 2020, compared with $52 billion of inflows in the second 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 outflow of $196 billion in the third quarter of 2020 after registering an inflow of $486 billion in the second quarter of 2020.