Assets Under Management in the European Fund Industry Given the current situation in the economies around the globe it was no surprise that the European fund industry faced declining assets under management over the course of the year 2022 so far, as the geopolitical situation in Europe, the still ongoing COVID-19 pandemic, disrupted delivery chains, increasing inflation, and interest rate hikes put some pressure on the securities markets. Within this environment the assets under management in the European fund industry decreased from €15.3 tr (as of December 31, 2021) to €13.3 tr at the end of Q2 2022. While ETFs

European investors were generally in a risk-on mode over the course of the year 2021 despite the increased volatility in securities markets. Given the general market environment it was no surprise that we witness some months with mixed results for the flows within the different asset types, even as the European fund industry enjoyed inflows over the course of the first nine months of 2021. In more detail, the promoters of mutual funds enjoyed inflows of €337.0 bn. In line with this, the promoters of ETFs enjoyed record inflows of €126.9 bn over the course of the year so far.