NON MONEY MARKET FUNDS 11,5 -1,5 -3,2 -0,6 -1,4 1247
Transcript of NON MONEY MARKET FUNDS 11,5 -1,5 -3,2 -0,6 -1,4 1247
-1-
More information on methodology long series calendar
All statistical time series published by the Banque de France can be accessed on Webstat Banque de France
Publication available on mobile devices Apple et Android
STAT INFO ndashOctober 2020 Publication associated with Financial overview of
Investment Funds-France
Contact Contact Stat Info
17 December 2020
Performance of investment funds ndash France bull October 2020
Further decline in the performance of non-monetary mutual funds
The annual performance of non-money market funds deteriorates again in October (-32 after -15 in September) mainly due to the decline in the monthly valuations of all fund categories The further fall in the stock markets in October explains the significant decline in equity funds (-4 monthly performance and -66 over the year) The annual performance of employee savings funds stands at -104 due to their overweight in equities (see graph below) The annual performance of money market funds is almost stable at -034
Performance of Investment Funds by subsectors (a) =
(percent outstanding amounts EUR billion)
Source Banque de France
(a) Annual performance net of management fees but before deduction of entry and exit fees commissions (cf methodology) (b) Except employeesrsquo savings funds (which are included in ldquoOthers fundsrdquo) (c) Exchange Trade Fund (d) Employee savings funds (including money market employee savings funds) real estate funds Private equity funds formula-based
funds hedge funds (e) The term mixed funds replaces the term diversified funds AMF category that has been deleted since 31122017 the criterion for
classification remains the same (f) Outstanding amount and performance of real estate funds are taken into account as of June 2016 (g) Excluding money market employee savings funds (outstanding of 215 billion at end-September 2020)
Annual performance of equity bond and mixed funds
2019September
2020October 2020 September 2020 October 2020 October 2020
Net asset value
NON MONEY MARKET FUNDS 115 -15 -32 -06 -14 1247
Equity funds (b) 235 -16 -66 -13 -40 295
of which ETF (c) 227 -18 -65 -17 -35 27
Bond funds (b) 38 -12 -08 03 01 285
Mixed Funds (b) (e) 100 -09 -19 -05 -10 330
Other funds (d) (f) 79 -22 -34 -08 -08 336
of which employees savings funds 134 -76 -104 -22 -22 129
MONEY MARKET FUNDS (g) -027 -036 -034 -001 -003 387
Annual performance Monthly performance
-15
-10
-5
0
5
10
15
20
25
-15
-10
-5
0
5
10
15
20
25
Oct-17
Jan-1
8
Apr-18
Jul-1
8
Oct-18
Jan-1
9
Apr-19
Jul-1
9
Oct-19
Jan-2
0
Apr-20
Jul-2
0
Oct-20
Bond funds Equity funds Mixed funds
in percent
More information on methodology long series calendar
All statistical time series published by the Banque de France can be accessed on Webstat Banque de France
Publication available on mobile devices Apple et Android
STAT INFO ndash October 2020 Publication associated with Financial overview of
Investment Funds-France
Contact Contact Stat Info
Performance of Non-MMF funds and employeesrsquo saving funds (a) Performance of equity funds (a)
In percent In percent
Performance of bonds funds (a) Performance of MMF funds (a)
In percent In percent
The different categories of funds under review are defined by the Autoriteacute des Marcheacutes Financiers (AMF ndash French Financial Markets
Authority) The classification of each fund is based on its real risk exposure The definition of the exposure and the risk thresholds for
each category are developed in AMF Instructions 2011-19 2011-20 and 2011-21
The Stoxx 600 index comprises 600 companies residing in 18 European countries
The Barclays index comprises sovereign and quasi-sovereign bonds corporate bonds and asset-backed securities It includes
securities denominated in 24 currencies issued from developed and emerging markets The rating of the securities is ldquoinvestment
graderdquo with residual maturity over one year
The Euro-MTS Index is a euro-denominated bond index that measures the performance of the eurozone government bond market
across all maturities of the underlying bonds combined
The performance of the indices is measured by total return (price change and couponsdividends reinvested) The yield spreads
between these indices and the performance of UCITs in France reflect differences in composition and management orientation in
particular the split between highly liquid sovereign bonds issued by major advanced countries less liquid sovereign bonds or bonds
with a higher riskreturn profile and bonds issued by private issuers 6 month-Euribor and the performance of money market may
temporarily divert This is due to differences in the composition of the interbank index and the money market fundsrsquo portfolio (nature
of the issuer geographical diversification average maturity exchange rate effects linked to funds denominated in foreign currencies)
-20
-10
0
10
20
30
40
-20
-10
0
10
20
30
40
Oct-1
7
Jan-
18
Apr
-18
Jul-1
8
Oct-1
8
Jan-
19
Apr
-19
Jul-1
9
Oct-1
9
Jan-
20
Apr
-20
Jul-2
0
Oct-2
0
Non-money market funds employees saving funds
CAC 40 (Total Return) Index
-20
-10
0
10
20
30
-20
-10
0
10
20
30
Oct-1
7
Jan-
18
Apr
-18
Jul-1
8
Oct-1
8
Jan-
19
Apr
-19
Jul-1
9
Oct-1
9
Jan-
20
Apr
-20
Jul-2
0
Oct-2
0
Equity funds Europe Stoxx 600 (Total Return) Index
-4
-2
0
2
4
6
8
10
-4
-2
0
2
4
6
8
10
Oct-1
7
Jan-
18
Apr
-18
Jul-1
8
Oct-1
8
Jan-
19
Apr
-19
Jul-1
9
Oct-1
9
Jan-
20
Apr
-20
Jul-2
0
Oct-2
0
Bond funds Barclays Euro Aggregate (Total Return) Index
-055
-050
-045
-040
-035
-030
-025
-020
-015
-055
-050
-045
-040
-035
-030
-025
-020
-015
Oct-1
7
Jan-
18
Apr
-18
Jul-1
8
Oct-1
8
Jan-
19
Apr
-19
Jul-1
9
Oct-1
9
Jan-
20
Apr
-20
Jul-2
0
Oct-2
0
Money market funds Euribor 6 month Index
Source Banque de France Barclays Europerformance (a) Annual performance net of management fees but before deduction of entry and exit fees commissions (cfmethodology)
Additional information
More information on methodology long series calendar
All statistical time series published by the Banque de France can be accessed on Webstat Banque de France
Publication available on mobile devices Apple et Android
STAT INFO ndash October 2020 Publication associated with Financial overview of
Investment Funds-France
Contact Contact Stat Info
Performance of Non-MMF funds and employeesrsquo saving funds (a) Performance of equity funds (a)
In percent In percent
Performance of bonds funds (a) Performance of MMF funds (a)
In percent In percent
The different categories of funds under review are defined by the Autoriteacute des Marcheacutes Financiers (AMF ndash French Financial Markets
Authority) The classification of each fund is based on its real risk exposure The definition of the exposure and the risk thresholds for
each category are developed in AMF Instructions 2011-19 2011-20 and 2011-21
The Stoxx 600 index comprises 600 companies residing in 18 European countries
The Barclays index comprises sovereign and quasi-sovereign bonds corporate bonds and asset-backed securities It includes
securities denominated in 24 currencies issued from developed and emerging markets The rating of the securities is ldquoinvestment
graderdquo with residual maturity over one year
The Euro-MTS Index is a euro-denominated bond index that measures the performance of the eurozone government bond market
across all maturities of the underlying bonds combined
The performance of the indices is measured by total return (price change and couponsdividends reinvested) The yield spreads
between these indices and the performance of UCITs in France reflect differences in composition and management orientation in
particular the split between highly liquid sovereign bonds issued by major advanced countries less liquid sovereign bonds or bonds
with a higher riskreturn profile and bonds issued by private issuers 6 month-Euribor and the performance of money market may
temporarily divert This is due to differences in the composition of the interbank index and the money market fundsrsquo portfolio (nature
of the issuer geographical diversification average maturity exchange rate effects linked to funds denominated in foreign currencies)
-20
-10
0
10
20
30
40
-20
-10
0
10
20
30
40
Oct-1
7
Jan-
18
Apr
-18
Jul-1
8
Oct-1
8
Jan-
19
Apr
-19
Jul-1
9
Oct-1
9
Jan-
20
Apr
-20
Jul-2
0
Oct-2
0
Non-money market funds employees saving funds
CAC 40 (Total Return) Index
-20
-10
0
10
20
30
-20
-10
0
10
20
30
Oct-1
7
Jan-
18
Apr
-18
Jul-1
8
Oct-1
8
Jan-
19
Apr
-19
Jul-1
9
Oct-1
9
Jan-
20
Apr
-20
Jul-2
0
Oct-2
0
Equity funds Europe Stoxx 600 (Total Return) Index
-4
-2
0
2
4
6
8
10
-4
-2
0
2
4
6
8
10
Oct-1
7
Jan-
18
Apr
-18
Jul-1
8
Oct-1
8
Jan-
19
Apr
-19
Jul-1
9
Oct-1
9
Jan-
20
Apr
-20
Jul-2
0
Oct-2
0
Bond funds Barclays Euro Aggregate (Total Return) Index
-055
-050
-045
-040
-035
-030
-025
-020
-015
-055
-050
-045
-040
-035
-030
-025
-020
-015
Oct-1
7
Jan-
18
Apr
-18
Jul-1
8
Oct-1
8
Jan-
19
Apr
-19
Jul-1
9
Oct-1
9
Jan-
20
Apr
-20
Jul-2
0
Oct-2
0
Money market funds Euribor 6 month Index
Source Banque de France Barclays Europerformance (a) Annual performance net of management fees but before deduction of entry and exit fees commissions (cfmethodology)
Additional information