Weekly Fund Flows Gold Fund Flows Pick Up

Economics Research 14 August 2026 | 12:08PM EDT

Global fund flows, week ending August 12 Lexi Kanter | n Flows into mutual funds and related investment products were positive across Goldman Sachs & Co. LLC both equities and fixed income. n Net flows into global equity funds remained positive in the week ending August 12, though more subdued than in recent weeks (+$16bn vs +$33bn in the previous week). Within DM, US funds drove the net inflows. EM funds saw net outflows, though Korea funds and Global EM benchmark funds saw continued net inflows. At the sector level, industrial funds saw the largest net inflows while technology funds once again saw the largest net outflows. Flows into gold funds have picked up meaningfully after seeing net outflows for much of this year. Gold prices have become more correlated to fund flows since the start of 2025 as the volume of private sector buying (and selling) has increased (See Charts of the Week).

n Flows into global fixed income funds remained well-supported from inflows across fund types. Short-duration bond funds and inflation-protected bond funds have seen sustained inflows. In EM, hard-currency bond funds and local-currency bond funds saw net inflows. Money market fund assets increased by +$25bn. n Cross-border FX flows were largely positive, and USD and KRW saw the strongest net demand.

Global Fund Flows Summary Millions USD % AUM 4wk sum 12-Aug 4wk avg 12-Aug Equity 143,100 16, Fixed Income 74,442 24, of which: EM 2,139 1, Money Markets 50,283 25, FX Flows* 92,759 25, *Cross-border fund flows, excluding hard currency and FX-hedged funds

Source: EPFR, Haver Analytics, Goldman Sachs Global Investment Research

Investors should consider this report as only a single factor in making their investment decision. For Reg AC certification and other important disclosures, see the Disclosure Appendix, or go to

Goldman Sachs Weekly Fund Flows

$bn Flows into Gold Funds (4wma) $bn 5 5

-4 -4 Nov-24 Feb-25 May-25 Aug-25 Nov-25 Feb-26 May-26 Aug-26

Source: EPFR, Goldman Sachs Global Investment Research

Correlation 52-week Rolling Correlation Between Gold Fund Flows Correlation 0.8 and Gold Prices 0.8

Source: EPFR, Goldman Sachs Global Investment Research, Bloomberg