Long-term fund demand splits by vehicle

USD bn

-19.6710.0739.81-19.67Mutual funds39.81ETF net issuance20.14Combined
ICI release September30; estimated week ended September23, 2026. These are flows/net issuance, not returns.

Sources: [1] ICI combined long-term flows and ETF issuance · 2026-09-30; observations September23

This analysis examines the implications of the week’s verified reporting, the assumptions behind the financial measures and the developments to monitor next.

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