European investment funds attracted €274 billion in net inflows during the first quarter of 2026, according to the European Fund and Asset Management Association (Efama), the trade body.
Net assets of Ucits and alternative investment funds (AIFs) increased by 0.5% over the quarter, according to Efama’s data. Ucits gained €251 billion in net sales, while AIFs saw net inflows of €24 billion.
Long-term funds gained €217 billion in net inflows. Equity funds led the way with €90 billion in new money, followed by bond funds at €69 billion and multi-asset funds at €43 billion.
Net sales of money market funds reached €57 billion in the first quarter, up from €17 billion in the previous quarter.
Long-term funds classified under the EU’s Sustainable Finance Disclosure Regulation Article 9 category ( funds with sustainable investment as their primary objective) saw their tenth consecutive quarter of net outflows, losing €1.7 billion during the period.
Article 8 funds ( funds that promote environmental and/or social characteristics), on the other hand, received €53.4 billion in net inflows.
Bond funds resilient during market shocks: Efama
Separately, net acquisitions by European households totalled €54 billion in the fourth quarter of 2025, remaining at elevated levels and underlining the sector’s importance as a savings vehicle across the region.
Thomas Tilley, deputy director of research and senior economist at Efama, said: “Demand for ETFs continued unabated in Q1 2026, undeterred by the outbreak of the Iran conflict at the end of February. Quarterly net inflows surpassed the €100 billion mark for the first time this quarter, underscoring the continued appeal of ETFs among both retail and institutional investors.”
