The total assets of euro area investment funds decreased to EUR 5,895 billion at end-September 2007, from EUR 5,989 billion in June 2007. This development was mainly due to a decrease in the amounts outstanding of shares and other equity, from EUR 2,216 billion to EUR 2,172 billion, and of securities other than shares, from EUR 2,044 billion to EUR 2,014 billion.

A breakdown of the assets side of the aggregated balance sheet of euro area investment funds shows that at end-September 2007 holdings of shares and other equity accounted for 37% of total assets. The second largest item was holdings of securities other than shares, which contributed 34% to the balance sheet total. Holdings of investment fund shares accounted for 13% of total assets, deposits for 6% and fixed assets for 3%.

In terms of breakdown by investment policy, the share of total assets held in equity funds stood at 30% at end-September 2007. Bond funds accounted for 28% of total assets, mixed funds for 26% and real estate funds for 4%.