Back to normal doesn’t mean what it used to. Following a year like no other, demand came roaring out the gate in 2021. While the pace of new demand has slowed somewhat in recent months amidst concern of new COVID variants, net new flows into long-term mutual funds and ETFs reached unprecedented territory. The $1.1 trillion gathered over the first 11 months of the year has surpassed all other years on record for the fund industry.
Passive funds led inflows in the year-to-date period at $826.9 billion, but active funds have strongly contributed to demand with net deposits of