Market overview
The global mutual fund market is worth USD 295 bn in 2026 and is forecast to reach USD 519 bn by 2036, growing at a 5.8% CAGR. United States is the largest country market and Equity funds is the largest by fund type segment.
| Scope | Management, administration and distribution fees collected by managers of open-end mutual funds and UCITS funds on investor assets, excluding exchange traded funds. |
|---|---|
| Industry | Services and Utilities |
| Value 2025 | USD 280 bn |
| Value 2026 | USD 295 bn |
| Value 2036 | USD 519 bn |
| CAGR 2026-2036 | 5.8% |
| Volume 2026 | 76,342 USD billion assets under management |
| Volume 2036 | 141,055 USD billion assets under management |
| Average price 2026 | USD 3,869,000 per USD billion assets under management |
| Report price | Starts from USD 1,999 |
| Published | November 2026 |
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Mutual Fund market size and forecast, 2026-2036
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Year | Market value |
|---|---|
| 2026 | USD 295 bn |
| 2027 | USD 313 bn |
| 2028 | USD 331 bn |
| 2029 | USD 350 bn |
| 2030 | USD 370 bn |
| 2031 | USD 392 bn |
| 2032 | USD 414 bn |
| 2033 | USD 438 bn |
| 2034 | USD 464 bn |
| 2035 | USD 491 bn |
| 2036 | USD 519 bn |
Mutual Fund market segmentation
By fund type
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Equity funds | 46.0% | 47.4% | USD 136 bn | 6.1% |
| Bond funds | 22.0% | 21.6% | USD 65.0 bn | 5.6% |
| Balanced funds | 14.0% | 13.7% | USD 41.4 bn | 5.6% |
| Money market funds | 14.0% | 13.7% | USD 41.4 bn | 5.6% |
| Other funds | 4.0% | 3.6% | USD 11.8 bn | 4.6% |
By channel
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Advisers and intermediaries | 48.0% | 45.0% | USD 142 bn | 5.1% |
| Retirement plans | 30.0% | 32.4% | USD 88.6 bn | 6.6% |
| Direct to investors | 22.0% | 22.7% | USD 65.0 bn | 6.1% |
By management style
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Active funds | 62.0% | 52.0% | USD 183 bn | 4.0% |
| Passive index funds | 30.0% | 38.0% | USD 88.6 bn | 8.3% |
| Smart-beta and rules-based funds | 8.0% | 10.0% | USD 23.6 bn | 8.2% |
By investor type
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Retail investors | 58.0% | 55.0% | USD 171 bn | 5.2% |
| Institutional investors | 28.0% | 30.0% | USD 82.7 bn | 6.5% |
| High-net-worth investors | 14.0% | 15.0% | USD 41.4 bn | 6.5% |
By share class
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Front-end load | 16.0% | 11.0% | USD 47.3 bn | 1.9% |
| No-load and clean share | 56.0% | 60.0% | USD 165 bn | 6.5% |
| Performance-fee | 6.0% | 7.0% | USD 17.7 bn | 7.4% |
| Institutional share | 22.0% | 22.0% | USD 65.0 bn | 5.8% |
Top 25 countries for mutual fund by revenue
Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 89.0% of 2026 revenue and the 25 countries below together hold 97.2%.
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| # | Country | Value 2026 | Share 2026 | Value 2036 | CAGR 2026-36 |
|---|---|---|---|---|---|
| 1 | United States | USD 142 bn | 48.0% | USD 243 bn | 5.5% |
| 2 | China | USD 23.6 bn | 8.0% | USD 48.8 bn | 7.5% |
| 3 | United Kingdom | USD 16.2 bn | 5.5% | USD 28.0 bn | 5.6% |
| 4 | Luxembourg | USD 14.8 bn | 5.0% | USD 26.5 bn | 6.0% |
| 5 | France | USD 13.3 bn | 4.5% | USD 21.8 bn | 5.1% |
| 6 | Japan | USD 11.8 bn | 4.0% | USD 18.2 bn | 4.4% |
| 7 | Ireland | USD 11.8 bn | 4.0% | USD 21.3 bn | 6.1% |
| 8 | Canada | USD 11.8 bn | 4.0% | USD 20.2 bn | 5.5% |
| 9 | Brazil | USD 8.9 bn | 3.0% | USD 16.6 bn | 6.5% |
| 10 | Germany | USD 8.9 bn | 3.0% | USD 14.5 bn | 5.1% |
| 11 | Australia | USD 4.0 bn | 1.4% | USD 7.3 bn | 6.1% |
| 12 | India | USD 2.7 bn | 0.9% | USD 5.9 bn | 8.0% |
| 13 | South Korea | USD 2.2 bn | 0.8% | USD 4.0 bn | 6.1% |
| 14 | Switzerland | USD 1.9 bn | 0.6% | USD 3.4 bn | 6.1% |
| 15 | Netherlands | USD 1.7 bn | 0.6% | USD 3.0 bn | 6.0% |
| 16 | Sweden | USD 1.5 bn | 0.5% | USD 2.7 bn | 6.0% |
| 17 | South Africa | USD 1.4 bn | 0.5% | USD 2.5 bn | 6.0% |
| 18 | Italy | USD 1.3 bn | 0.4% | USD 2.3 bn | 6.0% |
| 19 | Spain | USD 1.2 bn | 0.4% | USD 2.2 bn | 6.1% |
| 20 | Singapore | USD 1.2 bn | 0.4% | USD 2.1 bn | 6.1% |
| 21 | Hong Kong | USD 1.1 bn | 0.4% | USD 2.0 bn | 6.1% |
| 22 | Taiwan | USD 1.0 bn | 0.3% | USD 1.9 bn | 6.1% |
| 23 | Denmark | USD 975 mn | 0.3% | USD 1.8 bn | 6.1% |
| 24 | Norway | USD 945 mn | 0.3% | USD 1.7 bn | 6.1% |
| 25 | Mexico | USD 916 mn | 0.3% | USD 1.8 bn | 7.1% |
| Rest of world | USD 8.4 bn | 2.9% | USD 15.7 bn | 6.4% |
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
Competitive landscape
Group 1: Global leaders
- Vanguard
- Fidelity Investments
- BlackRock
- Capital Group
- JPMorgan Asset Management
- Amundi
- Goldman Sachs Asset Management
- UBS Asset Management
Group 2: Regional and specialist players
- T. Rowe Price
- Franklin Templeton
- Schroders
- Invesco
- Nomura Asset Management
- Janus Henderson
- AllianceBernstein
- Columbia Threadneedle
- Natixis Investment Managers
- SBI Funds Management
Group 3: Emerging and niche players
- Dimensional Fund Advisors
- Baillie Gifford
- Fundsmith
- Dodge & Cox
- Artisan Partners
- Jupiter Fund Management
- PPFAS Asset Management
- Primecap Management
Research methodology
Every figure on this page comes from the research framework that we apply to all of the markets we cover. The 2025 base for the mutual fund market is built from the volume sold and the price that buyers pay, and is cross-checked against the size of the wider industry the market belongs to. Where a market can be sized in more than one way, the routes are compared before a figure is set.
The forecast runs year by year from the 2025 base to 2036. Growth in each year reflects demand from the industries that buy the product, adoption of new technology, pricing, regulation and replacement cycles. Volume and price are modelled together, so revenue in each year equals volume multiplied by average price. The 2026 to 2036 compound annual growth rate of 5.8% is calculated from the resulting values.
The market is divided by fund type, by channel, by management style, by investor type, by share class. The 25 largest countries are ranked by revenue earned from sales to buyers in each country, not by where the product is made. Segment values and country values add up to the market total in every year, and every report is checked for consistency before it is published.
Companies are placed in three groups: global leaders, regional and specialist players, and emerging and niche players. The groups describe how companies compete in the market. They are not a ranking and they are not market shares.
Our analysts also carry out primary research. Customized reports add interviews with key opinion leaders, such as senior executives, technical specialists and buyers, to test the assumptions behind the numbers for the question being asked.
Frequently asked questions
How big is the mutual fund market?
The global mutual fund market is estimated at USD 280 bn in 2025 and USD 295 bn in 2026.
How fast will the mutual fund market grow?
It is forecast to reach USD 519 bn by 2036, a compound annual growth rate of 5.8% from 2026, an increase of USD 224 bn.
Which country is the largest market for mutual fund?
United States is the largest market by revenue at USD 142 bn in 2026, 48.0% of the global total. The three largest countries together hold 61.5%.
Which country is growing fastest?
Among the ten largest markets, China is growing fastest at 7.5% a year from 2026 to 2036.
Which mutual fund segment is largest?
In the by fund type split, Equity funds is the largest segment with 46.0% of 2026 revenue.
Who are the leading mutual fund companies?
Global leaders include Vanguard, Fidelity Investments, BlackRock, Capital Group.
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