Euro area investment fund statistics: third quarter of 2021

18 November 2021

• In third quarter of 2021, outstanding amount of shares/units issued by investment funds other than money market funds rose to €15,547 billion, up €284 billion on previous quarter
• Net issues in quarter amounted to €177 billion, with €1,047 billion in gross issues and €870 billion in gross redemptions
• Outstanding amount of shares/units issued by money market funds stood at €1,340 billion, almost unchanged from previous quarter

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

In the third quarter of 2021, the outstanding amount of shares/units issued by investment funds other than money market funds stood at €15,547 billion, €284 billion higher than in the second quarter (see Chart 1). Net issues during this period were €177 billion, with gross issues amounting to €1,047 billion and gross redemptions to €870 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 7.7% in the third 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 €73 billion in the third quarter of 2021 (see Chart 3). For bond funds net issues amounted to €64 billion and net issues by equity funds amounted to €46 billion, while net redemptions by real estate, hedge and other funds combined amounted to €6 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 €35 billion in the third quarter of 2021. The outstanding amount of shares/units issued by ETFs stood at €1,207 billion.

Within the assets of investment funds other than money market funds, net purchases of debt securities amounted to €85 billion in the third quarter of 2021 (see Chart 4). Net purchases of investment fund shares/units were €52 billion, while those of equity were €48 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 €1 billion lower than in the second quarter. This decrease was accounted for by €12 billion in net redemptions of shares/units, partly compensated by €11 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 -4.9% in the third quarter of 2021.

Within the assets of money market funds, the annual growth rate of debt securities holdings was ‑0.8% in the third quarter of 2021, with overall net sales amounting to €20 billion, which reflected net purchases of €12 billion in debt securities issued by euro area residents and net sales of €32 billion in debt securities issued by non-euro area residents. For deposits and loan claims, the annual growth rate was -16.7% and transactions during the third quarter of 2021 amounted to -€4 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.