Euro area investment fund statistics: fourth quarter of 2021

18 February 2022

• In fourth quarter of 2021, outstanding amount of shares/units issued by investment funds other than money market funds rose to €16,258 billion, up €691 billion on previous quarter
• Net issues in quarter amounted to €119 billion, with €1,337 billion in gross issues and €1,218 billion in gross redemptions
• Outstanding amount of shares/units issued by money market funds rose to €1,452 billion, up €112 billion on previous quarter

Data for shares/units issued by investment funds other than money market funds

In the fourth quarter of 2021, the outstanding amount of shares/units issued by investment funds other than money market funds stood at €16,258 billion, €691 billion higher than in the third quarter (see Chart 1). Net issues during this period were €119 billion, with gross issues amounting to €1,337 billion and gross redemptions to €1,218 billion (see Chart 2). The annual growth rate of shares/units issued by investment funds other than money market funds, calculated on the basis of transactions, was 6.6% in the fourth quarter of 2021.

Data for issues and redemptions of shares/units by investment funds other than money market funds

In terms of the type of investment fund, net issues of shares/units by mixed funds amounted to €48 billion in the fourth quarter of 2021 (see Chart 3). For equity funds net issues amounted to €40 billion, while for bond funds net redemptions were €28 billion and for real estate, hedge and other funds net issues amounted to €59 billion.

Data for shares/units issued by investment fund type other than money market funds

Exchange-traded funds (ETFs), which are a separate category within total investment funds (see annex below), recorded net issues of €34 billion in the fourth quarter of 2021. The outstanding amount of shares/units issued by ETFs stood at €1,317 billion.

Within the assets of investment funds other than money market funds, net purchases of investment fund shares/units amounted to €75 billion in the fourth quarter of 2021 (see Chart 4). Net purchases of equity were €52 billion, while net sales of debt securities were €34 billion.

Data for holdings of investment funds other than money market funds, by main instrument type

For shares/units issued by money market funds the outstanding amount was €112 billion higher than in the third quarter. This increase was accounted for by €95 billion in net issuance of shares/units and €17 billion in other changes (including price changes). The annual growth rate of shares/units issued by money market funds, calculated on the basis of transactions, was -1.4% in the fourth quarter of 2021.

Within the assets of money market funds, the annual growth rate of debt securities holdings was 4.0% in the fourth quarter of 2021, with overall net purchases amounting to €90 billion, which reflected net purchases of €86 billion in debt securities issued by non-euro area residents and net purchases of €4 billion in debt securities issued by euro area residents. For deposits and loan claims, the annual growth rate was -15.3% and transactions during the fourth quarter of 2021 amounted to €8 billion.

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 statistical release since they are classified in the monetary financial institutions sector within the European statistical framework.
• Hyperlinks in the main body of the statistical release and in annex tables lead to data that may change with subsequent releases as a result of revisions. Figures shown in the annex table are a snapshot of the data as at the time of the current release.