In July 2014, the amount outstanding of shares/units issued by euro area investment funds other than money market funds was €83 billion higher than in June 2014. This increase was due mainly to net issues of shares/units.

The amount outstanding of shares/units issued by euro area investment funds other than money market funds increased to €8,001 billion in July 2014, from €7,918 billion in June 2014. Over the same period, the amount outstanding of shares/units issued by euro area money market funds increased to €846 billion, from €824 billion.

Transactions1 in shares/units issued by euro area investment funds other than money market funds amounted to €72 billion in July 2014, while transactions in shares/units issued by money market funds amounted to €16 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 7.9% in July 2014, while the annual growth rate of shares/units issued by euro area money market funds was -2.2%.

In terms of the breakdown by investment policy, the annual growth rate of shares/units issued by bond funds was 5.7% in July 2014. Transactions in shares/units issued by bond funds amounted to €27 billion in July 2014. The annual growth rate and monthly transactions of equity funds were 8.1% and €13 billion respectively in July 2014. For mixed funds, the corresponding figures were 11.3% and €29 billion.

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.

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