Europe equity flows: The tide is turning

European equity fund flows are showing a clear shift. After persistent outflows since 2018, momentum turned in 2025, with over €60 billion returning to the broad European equity universe last year. We haven’t seen flows like this for some time.

Assets remain below pre outflow levels, but the recovery path is becoming visible as investors seek greater balance and diversification in portfolios, pointing to room for continued inflows. Early 2026 extended the pattern, with roughly €15 billion added to European equity categories in the first two months of the year. The tide is turning for European flows—steadily and measurably.