Banco de España : Euro area investment fund statistics - November 2012 (100 KB)

January 22, 2013 at 08:50 am EST

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22 January 2013

PRESS RELEASE EURO AREA INVESTMENT FUND STATISTICS NOVEMBER 2012

In November 2012, the amount outstanding of shares/units issued by euro area investment funds other than money market funds was €82 billion higher than in October 2012. This increase was due mainly to increases in share/unit prices.

The amount outstanding of shares/units issued by euro area investment funds other than money market funds increased to €6,454 billion in November 2012, from €6,372 billion in October

2012. Over the same period, the amount outstanding of shares/units issued by euro area money market funds stood at €946 billion, unchanged from the previous month.

Transactions1 in shares/units issued by euro area investment funds other than money market funds amounted to €25 billion in November 2012, while transactions in shares/units issued by money market funds amounted to €2 billion.

The annual growth rate of shares/units issued by euro area investment funds other than money market funds, calculated on the basis of transactions, was 4.5% in November 2012, while the annual growth rate of shares/units issued by euro area money market funds was

0.9%.

Shares/units issued

(EUR billions and annual growth rates; not seasonally adjusted; amounts outstanding at the end of the period, transactions during the period)

Investment funds other than money market funds:

2012

A ug. Sep. O ct . N ov.

Amount outstanding 6,285 6,340 6,372 6,454

Transactions 17 21 30 25

Annual growth rate (%) 1.9 2.8 3.7 4.5

Money market funds:

Amount outstanding 970 942 945 946

Transactions 13 -22 6 2

Annual growth rate (%) 2.4 1.3 2.5 0.9

Source: ECB.

1 Transactions in shares/units issued mainly reflect the difference between shares/units issued and those redeemed, but may also include other transactions, such as those resulting from dividend payments received or distributed by the fund.

- 2 -

In terms of the breakdown by investment policy, the annual growth rate of shares/units issued by bond funds was 11.5% in November 2012. Transactions in shares/units issued by bond funds amounted to €25 billion in November 2012. The annual growth rate and transactions of equity funds were -0.9% and minus €4 billion respectively. For mixed funds, the

corresponding figures were 2.7% and €4 billion.

Notes

• Money market funds are presented separately in this press release since they are classified in the monetary financial institutions sector within the European statistical framework, while other types of investment fund are classified in the other financial intermediaries sector.

• Further predefined tables, statistical data and methodological notes, as well as the advance release calendar, are available in the "Statistics" section of the ECB's website under "Euro area investment fund statistics" (http://www.ecb.europa.eu/stats/money/funds/html/index.en.html) and "The balance sheets of monetary financial institutions" (http://www.ecb.europa.eu/stats/money/aggregates/bsheets/html/index.en.html).

European Central Bank

Directorate General Communications and Language Services

Press and Information Division

Kaiserstrasse 29, D-60311 Frankfurt am Main

Tel.: +49 69 1344 7455, Fax: + 49 69 1344 7404

Internet: http://www.ecb.europa.eu

Reproduction is permitted provided that the source is acknowledged.

Table 1 Investment fund shares/units issued by euro area investment funds other than money market funds

(EUR billions and annual percentage changes; not seasonally adjusted; amounts outstanding at the end of the period; transactions during the period)

OCTOBER 2012

NOVEMBER 2012

Amount outstanding

Transactions

Annual percentage change 1)

Amount outstanding

Transactions

Annual percentage change 1)

Breakdown by investment policy2)

Bond funds Equity funds Mixed funds

Real estate funds Hedge funds Other funds

Breakdown by type of fund3)

Open-end funds

Closed-end funds

Total

2309 24 9.8

1647 1 -1.3

1557 6 2.1

316 1 5.2

138 -1 -2.4

405 -1 -0.1

6290 30 3.7

83 0 3.4

6372 30 3.7

2349 25 11.5

1668 -4 -0.9

1572 4 2.7

317 0 5.2

137 -2 -3.7

411 2 -0.1

6371 25 4.5

83 0 2.8

6454 25 4.5

1) Annual percentage changes are calculated on the basis of transactions.
2) The breakdown by investment policy is generally based on the types of asset in which the investment funds primarily invest, usually on the basis of a stated strategy (e.g. if the fund invests primarily in shares and other equity, it is allocated to the "equity funds" category). Funds investing in both equity and bonds, without any prevalent policy for either, are allocated to the "mixed funds" category. Hedge funds are classified in line with the statistical definition set out in Guideline ECB/2007/9. In particular, they cover funds with relatively unconstrained investment strategies and few restrictions on the types of financial asset in which they may invest. If a fund cannot be classified as an equity, bond, mixed, real estate or hedge fund, it is included in the residual "other funds" category.

3) The shares/units of open-end funds can be redeemed out of the fund's assets. Closed-end funds are funds with a fixed number of issued shares/units.

Chart 1 Investment fund shares/units issued by euro area investment funds other than money market funds

(EUR billions; not seasonally adjusted; outstanding amounts at the end of the period; transactions during the period; monthly data)

300

transactions other changes * difference in amounts outstanding

300

200

100

0 0

-100

-200

-300

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2010 2011 2012