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Inflation and higher interest rates sharply curbed investor enthusiasm for all asset classes in 2022

Fund Flow Index - Q1 2023

Australian investors sharply reduced their subscriptions to managed funds in 2022. Inflows fell significantly across all asset classes, with fixed income funds seeing the sharpest decline.

Key highlights from this quarter's FFI:

  • Fixed income fund inflows shrank 95% from A$10.54bn in 2021 to A$562m in 2022
  • Q4 bond inflows recovered somewhat after market volatility from mid-August to September
  • Equity fund inflows fell by three fifths in 2022 to A$5.74bn, but Q4 was down 90% year-on-year
  • Active equity fund inflows fell 74% in 2022
  • Q4 saw first outflows from domestically focused equity funds since onset of pandemic
  • ESG equity funds were a relative bright spot – in 2022 inflows fell by less than a fifth compared to three quarters for non-ESG equities