Commentary on the aggregated balance sheet of investment funds
Commentary on the aggregated sectoral balance sheet
Net assets value
The net assets value of investment funds was CZK 464.8 billion at the end of November. This means an increase of CZK 4.7 billion compared to October (monthly transactions accounted for CZK +1.6 billion). Compared to the same period a year earlier, the net assets value of investment funds rose by 10.0%. The biggest month-on-month change in the net assets value was recorded for other funds, up by CZK 1.7 billion to CZK 51.1 billion.
Investment in bonds
The value of bond holdings was CZK 106.1 billion at the end of November. Compared to the previous month, the total volume of bonds in the funds’ portfolio increased by CZK 1.1 billion (monthly transactions accounted for CZK 1.2 billion). At 22.8%, the proportion of debt securities in the funds' net assets value was unchanged from the previous month.
Investment in equity securities
The value of funds invested in other assets rose in the period under review. The total volume of other investment was CZK 169.3 billion in November, of which CZK 47.1 billion was fixed investment and CZK 59.0 billion investment in deposits. The ratio of other investment to the funds' net assets value decreased to 36.4% compared to the previous month.
At the end of November 2018, a total of 462 resident investment funds were active in the Czech Republic, of which 64 were equity funds, 60 bond funds, 81 mixed funds, 85 real estate funds, 170 other funds and two funds without an investment policy.
Balance sheet total – breakdown by asset item
Net assets value – breakdown by investment policy
- 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, other revaluations, exchange rate variations and other changes which do not arise from transactions (non-transaction effects).
- Other investment means funds invested in other assets 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.