February 18, 2022
Shares/units issued by investment funds other than money market funds
In the fourth quarter of 2021, the outstanding shares/units issued by investment funds UCITS other than money market amounted to 16,258 billion euros, ie 691 billion euros more than in the third quarter (see graph 1). Net issues during this period were €119 billion, 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.
Issues and redemptions of shares/units by investment funds other than money market funds
In terms of type of investment fund, net issues of shares/units by mixed funds amounted to 48 billion euros in the fourth quarter of 2021 (see graph 3). For equity funds, net issues amounted to €40 billion, while for bond funds net redemptions were €28 billion and for real estate, hedge funds and other funds , net issues amounted to 59 billion euros.
Shares/units issued by type of investment fund other than money market funds
exchange traded funds (ETFs), which constitute a separate category within the total investment funds (see appendix below), recorded net issuances of €34 billion in the fourth quarter of 2021. Outstanding shares/units issued by ETFs amounted to 1,317 billion euros.
Within the assets of investment funds other than money market fundsnet purchases of shares/shares of investment funds amounted to 75 billion euros in the fourth quarter of 2021 (see Chart 4). Net purchases of equity were 52 billion euros, while net sales of debt securities were 34 billion euros.
Holdings of investment funds other than money market funds, by type of principal instrument
For shares/units issued by money market funds outstandings were 112 billion euros higher than in the third quarter. This increase is explained by 95 billion euros of net issues of shares/units and 17 billion euros of other variations (including price variations). The annual growth rate of shares/units issued by money market funds, calculated on the basis of transactions, stood at -1.4% in the fourth quarter of 2021.
Within the money market fund assetsthe annual growth rate of debt securities ownership was 4.0% in the fourth quarter of 2021, with overall net purchases of €90 billion, which reflected net purchases of €86 billion of debt securities issued by non-euro area residents and net purchases of €4 billion of debt securities issued by euro area residents. For deposits and loans claims, the annual growth rate was -15.3% and transactions during the fourth quarter of 2021 amounted to 8 billion euros.
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- Money market funds are presented separately in this statistical release as 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 the tables in the appendix lead to data that may change with subsequent releases as a result of revisions. The figures presented in the table in the appendix are an overview of the data at the time of the current publication.