In January 2011, the amount outstanding of shares/units issued by euro area investment funds other than money market funds was EUR 10 billion lower than in December 2010. This decrease was due to a decline in share/unit prices, which was partly offset by net issues of shares/units.

The amount outstanding of shares/units issued by euro area investment funds other than money market funds decreased to EUR 5,734 billion in January 2011, from EUR 5,744 billion in December 2010. Over the same period, the amount outstanding of shares/units issued by euro area money market funds decreased to EUR 1,091 billion from EUR 1,107 billion.

Transactions in shares/units issued by euro area investment funds other than money market funds amounted to EUR 17 billion in January 2011, while transactions in shares/units issued by money market funds amounted to EUR -9 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 5.3% in January 2011, while the annual rate of change of shares/units issued by euro area money market funds was -10.7%.

In terms of the breakdown by investment policy, the annual growth rate of shares/units issued by bond funds was 7.7% in January 2011. Transactions in shares/units issued by bond funds were close to nil in January 2011. The annual growth rate and transactions of equity funds were 2.9% and EUR 9 billion respectively. For mixed funds, the corresponding figures were 5.5% and EUR 6 billion.