Press release Belgian non money market investment funds (2024 IV)PDF

2025-04-25

Links:Infographics

NBB.Stat

General information

Belgian investment funds boosted by very positive valuation effects in Q4 2024

• • At the end of the fourth quarter of 2024, the total value of shares issued by Belgian investment funds stood at €263.6 billion, up €9.2 billion on the previous quarter (including +€7.5 billion in positive valuation effects).

• • The value of Belgian household holdings of shares in Belgian funds amounted to €144.2 billion at 31 December 2024, up €3.3 billion on the previous quarter. Belgian households made net sales of shares in Belgian investment funds totalling €1.9 billion, with the effect of these sales more than offset by positive valuation effects of €5.2 billion.

Change in the value of the shares outstanding of Belgian investment funds

At the end of the fourth quarter of 2024, the total value of shares issued by Belgian funds stood at €263.6 billion, up from €254.4 billion in the previous quarter. This change was due to positive valuation effects on all funds (+€7.5 billion), while net purchases of shares amounted to +€1.7 billion.

Mixed funds and equity funds reported modest net purchases (+€0.8 billion and +€0.7 billion respectively), while transactions in other funds remained almost unchanged.

CHANGE IN THE FINANCIAL LIABILITIES OF BELGIAN NON-MONEY MARKET INVESTMENT FUNDS

(in € billion)

• 1 Other flows include price and exchange rate changes. They may also include one-off items such as reclassifications of transactions to other sectors.

• 2 These consist of other financial instruments as defined by ESA 2010, mainly loans, derivatives, and other accounts receivable/payable.

Quarterly change in Belgian household holdings of shares of Belgian investment funds

At the end of the fourth quarter of 2024, Belgian households held shares issued by Belgian funds worth €144.2 billion, an increase of €3.3 billion compared with the end of the previous quarter, with net sales (-€1.9 billion) markedly offset by positive valuation effects (+€5.2 billion).

2

Over the course of the fourth quarter of 2024, Belgian households made net sales of shares in equity funds and mixed funds (-€1.9 billion and -€0.2 billion respectively).

Total Belgian household holdings of shares issued by investment funds (both Belgian funds and foreign funds) amounted to €298.8 billion at the end of the fourth quarter of 2024, up +€8.7 billion on the previous quarter. This increase was entirely due to positive valuation effects.

CHANGE IN BELGIAN HOUSEHOLD HOLDINGS OF BELGIAN NON-MONEY MARKET INVESTMENT FUND SHARES

(in € billion)

1 Other flows include price and exchange rate changes. They may also include one-off items such as reclassifications of transactions to other sectors.

10-year change in Belgian household holdings of shares of Belgian investment funds

Over the past ten years, Belgian household holdings of shares issued by Belgian funds have risen from €64.5 billion to €144.2 billion, an increase of just over 123%. This growth resulted from net purchases of shares totalling €45.2 billion and positive valuation effects of €34.5 billion.

Over this period, households made net purchases of shares in mixed funds (+€33.8 billion) and equity funds (+€11.3 billion), while only guaranteed capital index funds recorded net sales (-€9.3 billion).

CHANGE IN BELGIAN HOUSEHOLD HOLDINGS OF BELGIAN NON-MONEY MARKET INVESTMENT FUND SHARES

(in € billion)

Source: NBB.

1 Other flows include price and exchange rate changes. They may also include one-off items such as reclassifications of transactions to other sectors.