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Financial overview of Investment Funds – France 2017Q3

Published on 11/27/2017
Non-Money Market Funds increased their investments outside France

Non-Money Market Funds: net inflows decreased on the third quarter (+4 billion after +20 billion the previous quarter) and reached 49 billion over one year, mainly from insurance corporations (+58 billion). In the third quarter 2017, Non-Money Market Funds continued their net purchases of long term debt securities (+ 2 billion) and other investment fund shares (+2 billion). They opted for securities issued by non-financial corporations (+ 5 billion). Over one year, the percentage share of securities issued outside France increased at 53 percent (+7 percentage points compared to the previous year).

Money Market Funds: in the third quarter, net issuances of Money Market Funds amounted to +16 billion (after -24 billion the previous quarter). Subscriptions mainly came from non-financial corporations (+7 billion) and insurance companies (+6 billion). Net investments were primarily oriented towards short term debt securities (+ 7 billion), whereas the holdings of long term debt securities declined (-3 billion). Over one year, net inflows (+28 billion) were invested mostly in securities issued by non-financial corporations (+9 billion) and credit institutions (+7 billion).
Investment net transactions
(4 moving quarters)
Breakdown by category of investor
Non-Money Market Funds
Money Market Funds
Investment funds assets and investors
(EUR billion)
Assets Net flows (a) Stocks Part (%) Investors Net flows (a) Stocks Part (%)
2017Q3 4 moving quarters 2017Q3 2017Q3 4 moving quarters 2017Q3
Money Market Funds (f) Total 16 28 334 100% Total 16 28 334 100%
by type of instrument Debt securities up to 1 year 7 29 199 60% Resident 17 21 286 86%
Debt securities over 1 year -3 -8 91 27% Insurance corporations 6 15 107 32%
Investment fund shares 0 0 1 0% Non-Financial corporations 7 3 78 23%
Net deposits and loans and other assets (b) 12 7 43 13% Non money market funds 2 6 66 20%
by geographical area (c) Resident 4 13 126 43% Households and NPSH -1 -3 7 2%
Non-Resident euro area 2 8 98 34% General Government 1 -4 12 4%
Non-Euro area -2 0 67 23% Credit Institutions 3 3 11 3%
by issuer (c) MFIs 2 7 210 72% Other financial institutions 0 1 5 1%
Non-Financial corporations and others (d) 1 9 42 14% Non-Resident euro area 2 7 46 14%
Others (e) 1 3 33 11% MFIs 3 11 41 12%
General Government 1 3 6 2% Non MFIs -2 -4 5 1%
Non-Euro area -3 0 2 1%
Non money market funds Total 4 49 1,202 100% Total 4 49 1,202 100%
by type of instrument Debt securities up to 1 year 0 5 28 2% Resident 4 37 1,026 85%
Debt securities over 1 year 2 24 370 31% Insurance corporations -10 58 456 38%
Equity 1 0 470 39% Households and NPSH 1 1 227 19%
Investment fund shares 2 17 302 25% Non money market funds -1 8 152 13%
Net deposits and loans and other assets (b) 0 3 33 3% General Government 25 -13 115 10%
by geographical area (c) Resident 0 10 549 47% MFIs -14 -19 31 3%
Non-Resident euro area 5 16 413 35% Non-Financial corporations 3 10 40 3%
Non-Euro area -2 19 208 18% Other financial institutions -1 -7 5 0%
by issuer (c) Non-Financial corporations and others (d) 5 14 571 49% Non-Resident euro area 7 16 154 13%
MFIs 0 16 181 15% MFIs 8 20 144 12%
General Government -3 -5 109 9% Non MFIs -1 -4 11 1%
Others (e) 1 21 308 26% Non-Euro area -6 -5 22 2%
of which non money market funds 0 11 236 20%
Note: Rounding differences mean that an aggregate may not be exactly equal to the sum of its components.

Source: Banque de France

(a) Variation of outstanding amounts for Money Market Funds
(b) net loans and net other assets include financial derivatives, non- financial assets and other receivables, net of other liabilities
(c) excluding loans and other net assets ; only securities portfolio
(d) Others added to Non-Financial Corporations include others Financial Institutions of the rest of the world (non MFIs as Insurance Corporations)
(e) Others : Non Money Market funds, Insurance and other Financial Institutions
(f) Consolidated Data: consolidated outstanding of money market fund shares or units do not include the resident securities held by money market funds themselves.
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STAT INFO - Q3 2017
Financial overview of Investment Funds

Publication associated with: Performance of Investment Funds - France
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Financial overview of Investment Funds – France
  • Published on 11/27/2017
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Published on Monday, November 27, 2017