The worldwide mutual fund industry reached $12.83 trillion in assets, a 4% improvement from the previous quarter, according to the Investment Company Institutes third quarter numbers.
Although the third quarter did not possess the second quarters gaudy $136 billion inflow pace, net inflows continued to seep through, mirroring the continued recovery of the major stock markets. The $65 billion inflow to all funds included an impressive upswing in equity funds of 7.6%.
Globally, Europe posted its best quarterly inflows since 2001, and thanks to the success of almost every global stock index, the worlds equity inflow went above $102 billion for the quarter.
Bond funds suffered across the globe, plummeting from $88 billion in inflows in the second quarter to $6 billion in the third.