It was no surprise that the European fund industry’s positive flow trend continued in the second quarter of 2021 since the COVID-19 pandemic in Europe was easing further. As a result, European investors continued to be in risk-on mode and the overall flow pattern in Europe normalized further. Within this environment the assets under management in the European fund industry rose from €12.3 tr (as of December 31, 2020) to €14.3 tr at the end of Q2 2021. While ETFs held €1.2 tr, or 8.23% of the assets under management in Europe, the vast majority (€13.1 tr, or 91.77%), were

May 2021 marked the fourteenth consecutive month with inflows into ETFs after the outflows caused by the outbreak of the COVID-19 pandemic in March 2020. These inflows occurred in a positive but volatile market environment in which investor sentiment was still impacted by the dynamics of the COVID-19 pandemic and the resulting actions taken by central banks and governments in Europe and other parts of the world. The positive performance of the underlying markets led in combination with the estimated net inflows to increasing assets under management (from €1,124.0 bn as of April 30, 2021, to €1,144.6 bn at the

European investors were in a mixed mood over the course of April, even as the situation with regard to the COVID-19 pandemic in Europe has been easing up. Nevertheless, April 2021 was another positive month for the European fund industry since the promoters of mutual funds (+€69.9 bn) and ETFs (+€16.6 bn) enjoyed inflows. The overall flow pattern in Europe has further normalized as investors in Europe continued to be in risk-on mode in April. In more detail, investors bought further into risky assets as long-term funds (€79.6 bn) and money market products (€7.0 bn) enjoyed estimated net inflows. As

April 2021 marked the thirteenth consecutive month with inflows into ETFs after the outflows caused by the outbreak of the COVID-19 pandemic in March 2020. These inflows occurred in a positive but volatile market environment in which investor sentiment was still impacted by the dynamics of the COVID-19 pandemic in Europe and other parts of the world. The positive performance of the underlying markets led in combination with the estimated net inflows to increasing assets under management (from €1,095.2 bn as of March 31, 2021, to €1,124.0 bn at the end of April). The increase of €28.8 bn for April

Despite the deteriorating situation with regard to the COVID-19 pandemic in some parts of Europe, March 2021 was another positive month for the European fund industry since the promoters of mutual funds (+€24.1 bn) and ETFs (+€16.6 bn) enjoyed inflows. The overall flow pattern in Europe has further normalized, as investors in Europe continued to be in risk-on mode in March. In more detail, investors bought further into risky assets as long-term funds (€39.9 bn) and money market products (€0.8 bn) enjoyed estimated net inflows. Equity funds (+€36.5 bn) were by far the best-selling asset type overall for March. The

March 2021 marked the twelfth consecutive month with inflows into ETFs after the outflows caused by the outbreak of the coronavirus pandemic in March 2020. These inflows occurred in a positive market environment in which investor sentiment was still impacted by the increasing dynamics of the COVID-19 pandemic in Europe and other parts of the world. The positive performance of the underlying markets led in combination with the estimated net inflows to increasing assets under management (from €1,034.4 bn as of February 28, 2021, to €1,095.8 bn at the end of March). The increase of €61.5 bn for March was

Despite the deteriorating situation with regard to the COVID-19 pandemic, January 2021 was another positive month for the European fund industry since the promoters of mutual funds (+€52.3 bn) and ETFs (+€15.2 bn) enjoyed inflows. Despite some economic uncertainties’ investors bought into risky assets. As a result, long-term funds enjoyed estimated net inflows of €78.4 bn, while money market products had estimated net outflows of €11.0 bn. Equity funds (+€51.6 bn) were by far the best-selling asset type overall for January 2021. The category was followed by bond funds (+€27.7 bn), mixed-assets funds (+€2.8 bn), and commodities funds (+€1.2 bn).

Despite the deteriorating situation with regard to the COVID-19 pandemic, December 2020 was another positive month for the European fund industry since the promoters of mutual funds (+€99.1 bn) and ETFs (+€23.5 bn) enjoyed inflows. The high level of inflows was surprising since there were some uncertainties around the outcome of the presidential election in the US and a possible hard Brexit. In addition, investors fear a second coronavirus lockdown-induced economic downturn in Europe. Despite these fears, investors bought into risky assets as long-term funds enjoyed estimated net inflows of €90.6 bn, while money market products had estimated inflows of

European investors bought further back into mutual funds and ETFs in September. Even as the global equity markets recovered further in a volatile environment, investors returned to long-term mutual funds because they expected the massive stimulus packages from central banks and governments globally to keep interest rates low and to foster global economic growth despite upcoming uncertainties from a possible second wave of COVID-19 lockdowns in Europe. As a result, long-term mutual funds posted overall net inflows for the month. Equity funds (+€26.4 bn) were the best-selling asset type overall for September, followed by bond funds (+€6.7 bn), mixed-assets funds

European investors bought further back into mutual funds and ETFs in August. Since the global equity markets recovered further, investors returned to long-term mutual funds because they expected the massive stimulus packages from central banks and governments globally to keep interest rates low and to foster global economic growth after the lockdowns caused by the outbreak of COVID-19 are lifted in more countries around the globe. As a result, long-term mutual funds posted overall net inflows for the month. Bond funds (+€19.9 bn) were the best-selling asset type overall for August, followed by equity funds (+€11.0 bn), alternative UCITS funds

European investors bought further back into mutual funds and ETFs in July. Since the global equity markets stabilized further, investors returned to long-term mutual funds because they expect the massive stimulus packages from central banks and governments globally to keep interest rates low and to foster global economic growth after the lockdowns caused by the outbreak of COVID-19 are lifted in more countries around the globe. As a result, long-term mutual funds posted overall net inflows for the month. Bond funds (+€24.2 bn) were the best-selling long-term asset type for July, followed by equity funds (+€14.4 bn), mixed-assets funds (+€4.9

The coronavirus pandemic hit the European fund industry with declining markets and estimated net outflows of €125.9 bn in the first quarter of 2020. This trend reversed over the course of the second quarter as central banks and governments around the globe started quantitative easing programs and economic relief packages to cushion the economic drawdowns caused by the spread of the coronavirus and the lockdowns of economies around the globe. The measures taken led to a rebound of the equity markets accompanied by falling interest rates. The return to somewhat normal market circumstances led investors to buy back into mutual