Key Facts
• In March 2026, Japanese-registered additional equity funds (excluding ETFs) saw inflows of ¥2.37 trillion.
• Foreign equity funds attracted ¥1.13 trillion, similar to February’s level.
• Domestic equity fund inflows surged by ¥470 billion from February to ¥700 billion.
• Index-type domestic equity funds recorded a historic inflow of ¥440 billion in March, surpassing April 2024’s ¥260 billion.
• Nikkei-linked funds led with ¥340 billion inflows, reversing February’s net outflows.
• Nikkei average dropped over 10% in March, from about 58,000 to near 51,000 yen.
• TOPIX-linked funds gained ¥90 billion, a modest increase of ¥30 billion from February.
• Domestic equity bull funds saw ¥90 billion inflows, exceeding April 2024’s previous record.
• Active domestic equity funds attracted ¥280 billion, slightly up from February’s ¥250 billion.
• Balanced funds had inflows of ¥220 billion, up ¥70 billion from February, marking the largest in 2026.
• Foreign index equity funds saw ¥750 billion inflows, a slight decrease of ¥40 billion from February.
• Active foreign equity funds had ¥280 billion inflows, half from newly launched funds; existing funds declined by ¥100 billion.
• Resource-related funds performed well amid rising oil prices; gold-related funds fell about 10% in value.
• Gold-related funds attracted ¥120 billion inflows, down from ¥200 billion in February.
• Despite Middle East tensions and market volatility, individual investors showed strong appetite for domestic equities.
Summary
In March 2026, Japanese equity funds experienced significant capital inflows, with domestic index funds seeing record levels, especially those linked to the Nikkei average. Despite a sharp over 10% drop in the Nikkei, investors engaged in notable dip buying, suggesting not only short-term contrarian moves but also possible long-term positioning by individual investors deploying standby funds. Balanced and active domestic equity funds also maintained steady inflows amid geopolitical uncertainties. Foreign index funds continued steady investment patterns, while active foreign equity funds faced challenges, partly due to fund restructuring. Resource-related funds benefited from rising oil prices, though gold funds saw reduced inflows amid price declines. Overall, the data reflects robust investor interest in domestic equities despite market volatility, with attention now on whether these inflows will translate into sustained long-term holdings or short-term trading as markets evolve.
