Euro area investment fund statistics: third quarter of 2018

• In the third quarter of 2018 the outstanding amount of shares/units issued by investment funds other than money market funds was €11,604 billion, €157 billion higher than in the second quarter of 2018.
• Investment funds other than money market funds increased their holdings of both equity and debt securities issued by non-euro area residents and also by euro area residents.
• In terms of investment funds by type, the largest transactions were recorded in mixed funds, with an inflow of €33 billion, and in equity funds, with an inflow of €25 billion in the third quarter of 2018.
• The outstanding amount of shares/units issued by money market funds was €1,118 billion, €17 billion lower than in the second quarter of 2018.

Data for investment fund shares/units issued

In the third quarter of 2018 the outstanding amount of shares/units issued by investment funds other than money market funds was €157 billion higher than in the second quarter of 2018. This development was accounted for by €79 billion in other changes (including price changes) and €79 billion in net issuance of shares/units. The annual growth rate of shares/units issued by investment funds other than money market funds, calculated on the basis of transactions, was 5.1% in the third quarter of 2018.

Data for investment funds' holdings of debt securities Data for investment funds' holdings of equity and investment fund shares/units

Within the assets of investment funds other than money market funds, the annual growth rate of debt securities was 4.9% in the third quarter of 2018, with transactions amounting to €37 billion during this period. In the case of equity, the corresponding annual growth rate was 4.3%, with transactions totalling €21 billion. For holdings of investment fund shares/units, the annual growth rate was 4.0% and transactions amounted to €9 billion.

Data for investment fund shares/units issued by type of investment fund

In terms of the type of investment fund, the annual growth rate of shares/units issued by bond funds was 2.2% in the third quarter of 2018. In the same period, transactions in shares/units issued by bond funds amounted to €7 billion. In the case of equity funds, the corresponding annual growth rate was 5.1%, with transactions of €25 billion. For mixed funds, the corresponding figures were 6.7% and €33 billion.

In terms of holdings by issuing sector, the annual growth rate of debt securities issued by euro area general government was -0.7% in the third quarter of 2018. In the same period, the net purchases of debt securities issued by the euro area general government amounted to €4 billion. In the case of debt securities issued by the private sector, the annual growth rate was 5.3%, whereby the net purchases amounted to €16 billion. For debt securities issued by non-euro area residents, the corresponding annual growth rate was 6.5%, with net purchases of €17 billion.

The outstanding amount of shares/units issued by money market funds was €17 billion lower than in the second quarter of 2018. This development was accounted for by €3 billion in other changes (including price changes) and -€19 billion in net issuance of shares/units. The annual growth rate of shares/units issued by money market funds, calculated on the basis of transactions, was -3.5% in the third quarter of 2018.

Within the assets of money market funds, the annual growth rate of debt securities holdings was -3.9% in the third quarter of 2018, with transactions amounting to -€28 billion, which reflected net purchases of €1 billion related to debt securities issued by euro area residents and net sales of €29 billion in debt securities issued by non-euro area residents. For deposits and loan claims, the annual growth rate was 2.5% and transactions during the third quarter of 2018 amounted to €15 billion.

Annex

Table: Annex to the press release on euro area investment funds

Statistical Data Warehouse:

All money market funds time series
All investment funds other than money market funds time series

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Notes:

• Money market funds are presented separately in this press release since they are classified in the monetary financial institutions sector within the European statistical framework.
• "Euro area private sector" refers to total euro area excluding general government.
• Hyperlinks in the main body of the press release are dynamic. The data they lead to may therefore change with subsequent data releases as a result of revisions. Figures shown in annex table are a snapshot of the data as at the time of the current release.