European investment funds gained €66 billion of net inflows in June 2025, up from €24 billion in May, according to the European Fund and Asset Management Association’s data (Efama), the trade body.
Thomas Tilley, senior economist at Efama, commented: “All major categories of long-term Ucits ( undertakings for collective investment in transferable securities) recorded net inflows in June 2025, indicating that investors remained cautiously optimistic, despite ongoing uncertainty around trade tariffs.”
Ucits funds accounted for €58 billion of the monthly total, compared to €57 billion in May. Within this, long-term Ucits (excluding money market funds) drew €45 billion of net inflows, though this was down from €71 billion the previous month. ETF Ucits saw €19 billion of inflows, compared to €29 billion in May.
Equity funds gained €10 billion in net inflows, down from €26 billion in May, while bond funds attracted €28 billion, compared to €37 billion the last month. According to Efama’s data, multi-asset funds maintained the same inflows of €5 billion as in May. Ucits money market funds gained €13 billion of net inflows, reversing net outflows of €13 billion in May.
Alternative investment funds (AIFs) gained €8 billion in June, a turnaround from net outflows of €33 billion in May. Total net assets of Ucits and AIFs rose by 0.3% to €23.6 trillion.
The fact sheet is published by Efama monthly and presents net sales and net assets data for Ucits and AIFs for 29 European countries: Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Liechtenstein, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey and the UK.
