Morocco’s investment fund assets remain stable as subscriptions rise in January 2026

    Bank Al-Maghrib reported an increase in subscriptions for bonds issued by collective investment undertakings in January 2026, reaching 199.7 billion dirhams, compared to 188.8 billion dirhams during the same period last year.

In its quarterly report on monetary policy, the bank noted that redemptions totaled 193.8 billion dirhams, compared to 160.1 billion dirhams a year ago, resulting in net inflows of 5.9 billion dirhams.

In terms of performance, the report noted varying returns among funds, with collective investment undertakings in transferable securities recording a return of approximately 2.5 percent, while equity funds posted returns of 15.6 percent, reflecting disparities in the dynamics of different investment categories.

In terms of assets, these funds remained virtually stable at 787.6 billion dirhams at the end of January 2026, compared to December 2025, indicating a relative balance in the market.

According to the same data, assets in some categories declined, particularly medium- and long-term bond funds, by 3.6 percent, alongside a 1.9 percent decrease in another category of funds, while the remaining categories achieved growth ranging from 1.9% for equity funds to 10.9% for short-term bond funds.

This performance reflects a mixed trend in the investment fund market, amid changing investor behavior and evolving financial market conditions