- In the second quarter of 2019 the outstanding amount of shares/units issued by investment funds other than money market funds stood at €12,067 billion, which was €266 billion higher than in the first quarter of 2019.
- The outstanding amount of shares/units issued by exchange-traded funds (ETFs) stood at €734 billion, which was €21 billion higher than in the first quarter of 2019.
- The outstanding amount of shares/units issued by money market funds was €1,154 billion, €15 billion lower than in the first quarter of 2019.
Data for investment fund shares/units issued
In the second quarter of 2019 the outstanding amount of shares/units issued by investment funds other than money market funds was €266 billion higher than in the first quarter of 2019 (see Chart 1). This development was accounted for by €82 billion in net issuance of shares/units and €185 billion in other changes (including price changes). The annual growth rate of shares/units issued by investment funds other than money market funds, calculated on the basis of transactions, was 2.0% in the second quarter of 2019.
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 2.9% in the second quarter of 2019, with transactions amounting to €56 billion during this period (see Chart 2). The annual growth rate of equity and investment fund shares/units was 0.2% in the second quarter of 2019, with transactions amounting to -€2 billion during this period (see Chart 3). In the case of equity, the corresponding annual growth rate was -0.4%, with transactions totalling -€16 billion. For holdings of investment fund shares/units, the annual growth rate was 1.3% and transactions amounted to €14 billion.
In terms of holdings by issuing sector, the annual growth rate of debt securities issued by euro area general government was -0.2% in the second quarter of 2019. In the same period, the net sales of debt securities issued by the euro area general government amounted to €1 billion. In the case of debt securities issued by the private sector, the annual growth rate was 5.4%, with net purchases amounting to €22 billion. For debt securities issued by non-euro area residents, the corresponding annual growth rate was 2.8%, with net purchases of €35 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 2.9% in the second quarter of 2019. In the same period, transactions in shares/units issued by bond funds amounted to €65 billion (see Chart 4). In the case of equity funds, the corresponding annual growth rate was -0.5%, with transactions of -€23 billion. For mixed funds, the corresponding figures were 2.3% and €17 billion.
Data for investment fund shares/units issued by type of ETF and underlying assets
The shares/units issued by exchange-traded funds (ETFs), which are presented as a separate category within total investment funds, recorded an annual growth rate of 9.2% in the second quarter of 2019, with an outstanding amount of €734 billion (see Chart 5). In terms of assets held by ETFs, in the second quarter of 2019, 61% were equity, 26% were debt securities and 13% were other assets (including financial derivatives, deposit and loan claims and investment fund shares/units).
The outstanding amount of shares/units issued by money market funds was €15 billion lower than in the first quarter of 2019. This development was accounted for by €2 billion in net issuance of shares/units and -€18 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 0.0% in the second quarter of 2019.
Within the assets of money market funds, the annual growth rate of debt securities holdings was -2.5% in the second quarter of 2019, with transactions amounting to -€21 billion, which reflected net purchases of €8 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 15.6% and transactions during the second quarter of 2019 amounted to €22 billion.
