Worldwide mutual fund assets stood at $22.72 trillion as of March 31, up 4.6% from the prior quarter, according to the Investment Company Institutes latest quarterly report. Net inflows to worldwide mutual funds came to $417 billion for the quarter, up 3.2% from the prior quarter but down 4.6% from the year-earlier quarter.
Equity fund inflows dropped 21% from the prior quarter, to $118 billion, with the Americas and the Asia/Pacific region seeing inflows of $80 billion and $43 billion, respectively, while Europe registered a net outflow of $5 billion.
Overall bond fund inflows surged 73% to $69 billion, with inflows of $65 billion for the Americas and $11 billion for Europe offset by outflows of $7 billion for the Asia/Pacific region. Money market inflows dipped 6.3% to $134 billion while flows to balanced funds jumped 53% to $69 billion.
The ICI report covers 62,522 mutual funds offered in 42 countries.