Source: European Central Bank
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 bond funds amounted to €63 billion in the third quarter of 2020 (see Chart 3). For equity funds net issues amounted to €51 billion, while net redemptions by mixed funds amounted to €2 billion and net issues by real estate, hedge and other funds amounted to €29 billion.
Shares/units issued by investment fund type other than money market funds
(in EUR billions; not seasonally adjusted)
Exchange-traded funds (ETFs), which are a separate category within total investment funds (see annex below), recorded net issues of €28 billion in the third quarter of 2020. The outstanding amount of shares/units issued by ETFs stood at €854 billion.
Within the assets of investment funds other than money market funds, net purchases of debt securities amounted to €71 billion in the third quarter of 2020 (see Chart 4). Net purchases of equity were €47 billion, while those of investment fund shares/units were €50 billion.
Holdings of investment funds other than money market funds, by main instrument type
(quarterly transactions in EUR billions; not seasonally adjusted)
For shares/units issued by money market funds the outstanding amount was €28 billion higher than in the second quarter. This increase was accounted for by €49 billion in net issuance of shares/units and -€21 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 15.1% in the third quarter of 2020.
Within the assets of money market funds, the annual growth rate of debt securities holdings was 6.0% in the third quarter of 2020, with immaterial net transactions, which reflected net purchases of €26 billion in debt securities issued by euro area residents and net sales of the same amount in debt securities issued by non-euro area residents. For deposits and loan claims, the annual growth rate was 49.8% and transactions during the third quarter of 2020 amounted to €53 billion.
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- 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.