Commentary on the aggregated sectoral balance sheet
Net assets valueThe net assets value of investment funds was CZK 733.2 billion at the end of November. This means an increase of CZK 3.5 billion compared to October (monthly transactions accounted for CZK +6.9 billion). Compared to the same period last year, the net assets value of investment funds rose by 21.6%. The biggest month-on-month change in the net assets value was recorded for equity funds, down by CZK 2.0 billion to CZK 120.3 billion.
Investment in bondsThe value of bond holdings was CZK 169.8 billion at the end of November. Compared to the previous month, the total volume of bonds in the funds' portfolio increased by CZK 4.9 billion (monthly transactions accounted for CZK +5.0 billion). The proportion of debt securities in the funds' net assets value went up to 23.2% compared to the previous month.
Investment in equity securitiesThe volume of equity securities in the funds' portfolio decreased in the month under review. As of the end of the month, the value of holdings of equity securities amounted to CZK 380.9 billion, of which CZK 161.4 billion was investment in the shares and units of investment funds and CZK 219.5 billion was investment in shares and other equity. The value of equity securities dropped by CZK 2.2 billion compared to October (monthly transactions accounted for CZK +1.1 billion). The proportion of equity securities in the funds' net assets value decreased to 51.9% compared to the previous month.
Other investmentThe value of funds invested in other assets increased in the period under review. The total volume of other investment was CZK 226.1 billion in November, of which CZK 52.2 billion was fixed investment and CZK 75.8 billion investment in deposits. The proportion of other investment in the funds' net assets value increased to 30.8% compared to the previous month.
Reporting populationAt the end of November 2021, a total of 632 resident investment funds were active in the Czech Republic, of which 65 were equity funds, 62 bond funds, 76 mixed funds, 98 real estate funds, 325 other funds and six funds without an investment policy.
Chart 1 - Balance sheet total - breakdown by asset item
Chart 2 - Net assets value - breakdown by investment policy
Notes:
- Investment funds mean investment and mutual funds other than money market funds. in accordance with Regulation of the European Central Bank concerning the balance sheet of the monetary financial institutions sector (ECB/2013/33), money market funds fall into this sector and the data for money market funds are not part of the investment fund statistics.
- Transactions mean changes in stocks which occurred during the relevant period owing to purchases/sales of the given instrument. Monthly transactions are calculated from differences in outstanding amounts adjusted for reclassifications, price changes, exchange rate variations and potential other changes which do not arise from financial transactions (non-transaction effects).
- Other investment is understood to mean funds invested in assets other than bonds and equity securities (especially deposits, loans and real estate).
- The time series for investment fund statistics are available in the ARAD time series system.
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Ceska Narodni Banka published this content on 14 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 January 2022 09:11:02 UTC.
