EFAMA has published its latest Monthly Statistical Release for September 2025.

Thomas Tilley, Senior Economist at EFAMA, commented:  “ETFs attracted more than EUR 250 billion in net new money over the first nine months of 2025 and are set to reach a new high. As in recent years, investors are demonstrating a strong preference for ETFs when gaining equity exposure. Equity ETFs recorded EUR 200 billion in net inflows so far this year, while non-ETF equity funds saw net outflows of EUR 9 billion.”

The main developments in September can be summarised as follows:

• UCITS and AIFs recorded net inflows of EUR 88 billion, down from EUR 100 billion recorded in August 2025.
• UCITS recorded net inflows of EUR 78 billion, compared to EUR 87 billion in the previous month.

o   Long-term UCITS (UCITS excluding money market funds) saw net inflows of EUR 72 billion, up from EUR 71 billion in August. Of these, ETF UCITS attracted EUR 36 billion in net inflows, up from EUR 27 billion in the previous month.

• Equity funds registered net inflows of EUR 27 billion, up from EUR 21 billion in August 2025.
• Bond funds recorded net inflows of EUR 29 billion, down from EUR 38 billion in August 2025.
• Multi-asset funds recorded net inflows of EUR 9 billion, up from EUR 7 billion in August 2025.

o   UCITS money market funds saw net inflows of EUR 7 billion, down from EUR 16 billion in August 2025.

• AIFs recorded net inflows of EUR 9 billion, down from EUR 13 billion in August 2025.
• Total net assets of UCITS and AIFs increased by 1.7% to EUR 24.6 trillion.

Source: EFAMA