Financial overview of Investment Funds – France 2017Q2

Net subscriptions of Non-Money Market Funds are dynamic
  • Non-Money Market Funds: In the second quarter, net issuances amount to €20 billion (€40 billion over one year). The growth in residents' subscriptions (+€21 billion, +€27 billion over one year) reflects an increase in investment by insurance companies (+€45 billion) partly offset by a disinvestment by general government (-€26 billion). Non-Money Market Funds invest mainly in long term debt securities (+€15 billion, +€20 billion over one year) and shares of MMF/Non MMF (+€4 billion, +€14 billion over one year).

  • Money Market Funds: Despite negative net flows over the second quarter (-€24 billion), net subscriptions are positive over one year (+22 billion). The outflows in the second quarter result mainly from non-financial corporations disinvestments (-€24 billion). These negative flows lead to a reduction in net deposits (-€18 billion). Over one year, net investments are primarily oriented towards short-term debt securities (+€33 billion) to the detriment of long-term debt securities (-€11 billion).

  • Real Estate Funds: Investment fund shares/units reach €92 billion at the end of June 2017, increasing by €9 billion since December 2016. These funds invest primarily in equities (+€5 billion) whereas net purchases of buildings increase at lower level (+€2.3 billion). More than 60% of the real estate assets of these funds is located in Ile-de-France (including Paris).

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Financial overview of Investment Funds – France
  • Published on 08/29/2017
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Published on Tuesday, August 29, 2017