US funds are seeing exceptionally strong demand from abroad:

Since 2010, US funds have attracted a cumulative +$1.2 trillion in cross-border inflows.

Since 2020 alone, global investors have poured +$1 trillion into these funds.

Over the same period, overseas inflows into the Euro Area, the UK, and Japan have remained broadly flat.

As a result, the US has captured twice as much foreign investment as the Euro Area, Japan, the UK, Canada, Australia, and China COMBINED.