In May 2011, the amount outstanding of shares/units issued by euro area investment funds other than money market funds was EUR 44 billion higher than in April 2011. This increase was due almost equally to increases in share/unit prices and 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 EUR 5,839 billion in May 2011, from EUR 5,795 billion in April 2011. Over the same period, the amount outstanding of shares/units issued by euro area money market funds increased to EUR 1,091 billion from EUR 1,071 billion.

Transactions in shares/units issued by euro area investment funds other than money market funds amounted to EUR 22 billion in May 2011, while transactions in shares/units issued by money market funds amounted to EUR 8 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 5.0% in May 2011, while the annual growth rate of shares/units issued by euro area money market funds was -4.5%.

In terms of the breakdown by investment policy, the annual growth rate of shares/units issued by bond funds was 5.8% in May 2011. Transactions in shares/units issued by bond funds amounted to EUR 8 billion in May 2011. The annual growth rate and transactions of equity funds were 4.4% and EUR 9 billion respectively. For mixed funds, the corresponding figures were 5.9% and EUR 3 billion.