Global thematic funds fight back to 3-year high

Global thematic assets under management hit a three-year high of $779bn in Q3 2025, although this remains lower than the post-pandemic rally in 2021. Europe is still the largest thematic fund market, with a share of 44%, but has seen a more muted market recovery. Inflows from the rest of the world and US over the first nine months of the year have put global thematic funds on track for net inflows for 2025, with European-based funds suffering net outflows in Q3. Thematic investing in the US consists mainly of ETFs, whilst Europe sticks with traditional actively managed mutual funds. Digital...