CMVM
skip
Language
pageBackground
Statistics

Periodic statistics


Securities investment funds

February 2015

The sum under management of Collective Investment Undertakings (UCITS) amounted to €8,744.7 million in February 2015. This is €353.3 million (4.2%) more than in January. The amount under management of Alternative Investment Funds (AIF) fell 2.7% down to €3,201.5 million.

Investment in domestic shares rose 10.7% up to €271.8 million and investment in foreign shares went 6.0% up to €1,032.3 million.

The amount invested in foreign bonds, which continues to be the asset with the largest weighting in the funds' portfolios (22.9% of the total), increased 2.2% up to €2,739.5 million. Investment in domestic bonds dropped 10.5% down to €345.6 million.

The value of investment in domestic public debt rose 0.5% up to €296.0 million and tumbled 1.7% down to €876.7 million in foreign public debt.

Sonae SGPS was the security with the most impact on the Funds' portfolios, depicting 10.3% of the total amount invested with a 6.3% monthly upswing. This was followed by BCP, which recorded a 27.6% upsurge in the funds' portfolios and CTT that rose 8.8%.

In the European Union, Total Efina led the field in SIF's portfolios with a 2.5% weighting in total investments in the European market and a 2.2% increase up to €13.6 million. This was followed by BASF that recorded an 11.4% upswing and Bayer that rose 1.7%.

Outside the European Union, Apple was the key security for investment by the SIFs, recording a 12.9% upsurge in the amount under management to €14.4 million in February. This was followed by Stenprop that amounted to €11.4 million and Nestlé that went up 5.8% when compared to January.

Portugal continued to be the second key destination for investment by the SIFs in January, after the 0.1% monthly tumble to €918.1 million, behind Luxembourg that secured 18.3% of the total investment from investment funds.

Caixagest (31.7%), BPI Gestão de Activos (16.4%) and Santander Asset Management (15.3%) were the management companies with the largest market share. 

The alternative investment fund “NB Rendimento Fixo VII – Fundo Especial de Investimento Aberto” was terminated in February.


 

Table 1 - Aggregated Indicators

Unit: 10^6 Euro 

 CIS in Transferable Securities ​ ​Alternative Invest. Funds ​ ​
 Feb - 15Jan - 15Monthly Var.Feb - 15Jan - 15Monthly Var.
Assets under management (1)8 744,78 391,44,2%3 201,53 288,7-2,7%
No. of fund operators1717012120
No. of Funds (2)15615605455-1
Mean capitalisation of funds [(1)/(2)]56,153,82,359,359,8-0,5

 

 

Table 2 – Investment in Listed Securities, per Market

Unit: 10^6 Euro

CountryFeb - 15 ​Monthly Var.
Value% TotalValue
PORTUGAL918,116,3%-0,1%
LUXEMBOURG1 035,018,3%3,3%
UNITED KINGDOM736,513,1%-0,5%
ITALY545,79,7%-0,1%
GERMANY461,18,2%-1,9%
SPAIN411,87,3%-0,1%
FRANCE385,96,8%8,4%
IRELAND353,86,3%10,0%
USA328,65,8%9,7%
NETHERLANDS117,12,1%2,4%
OTHERS347,36,2%2,0%
TOTAL5 640,9100,0%2,2%

Note: Excluding investment units of Collective Investment Undertakings (UCITS) based in Portugal and EU and Non-EU Member States

  

Table 2.1 – Investment in Listed Securities per Market - Public Debt

Unit: 10^6 Euro

CountryFeb - 15 ​Monthly Var.
Value% TotalValue
ITALY385,033,0%-0,6%
PORTUGAL292,425,1%3,9%
SPAIN179,515,4%-2,2%
GERMANY124,110,7%-10,1%
FRANCE48,94,2%7,2%
UNITED KINGDOM25,72,2%14,3%
BELGIUM24,62,1%4,4%
LUXEMBOURG19,51,7%5,8%
BRAZIL14,91,3%-7,1%
NETHERLANDS14,21,2%16,6%
OTHERS36,43,1%-5,5%
TOTAL1 165,1100,0%-0,2%

Note: Excluding investment units of Collective Investment Undertakings (UCITS) based in Portugal and EU and Non-EU Member States   

 

Table 2.2 – Investment in Listed Securities per Market – Bonds

Unit: 10^6 Euro 

CountryFeb - 15 ​Monthly Var.
Value% TotalValue
LUXEMBOURG979,832,4%3,4%
UNITED KINGDOM599,819,9%-0,8%
PORTUGAL334,511,1%-9,0%
IRELAND325,610,8%9,2%
GERMANY229,27,6%1,1%
FRANCE157,85,2%6,1%
SPAIN148,14,9%-0,8%
ITALY120,74,0%-1,2%
NETHERLANDS60,42,0%-0,6%
USA25,60,8%23,7%
OTHERS38,81,3%-10,2%
TOTAL3 020,2100,0%1,0%

Note: Excluding investment units of Collective Investment Undertakings (UCITS) based in Portugal and EU and Non-EU Member States.

 

  Table 2.3 – Investment in Listed Securities per Market – Shares

Unit: 10^6 Euro 

CountryFeb - 15 ​Monthly Var.
Value% TotalValue
USA297,622,8%8,6%
PORTUGAL271,420,8%10,7%
FRANCE126,89,7%4,7%
UNITED KINGDOM104,08,0%1,2%
GERMANY103,07,9%2,3%
SPAIN67,45,2%6,6%
SWITZERLAND48,83,7%1,2%
NETHERLANDS40,13,1%6,5%
ITALY34,22,6%5,4%
BRAZIL33,62,6%-0,2%
OTHERS176,413,5%11,0%
TOTAL1 303,5100,0%7,0%

Note: Excluding investment units of Collective Investment Undertakings (UCITS) based in Portugal and EU and Non-EU Member States.

 

Table 3 – Amount invested in Domestic and Foreign Shares (10 Largest)

Unit: 10^6 Euro 

SharesFeb - 15 ​Monthly Var.
Value%Value
DOMESTIC MARKET


SONAE SGPS27,910,3%6,3%
BCP27,810,3%27,6%
CTT CORREIOS DE PORTUGAL21,57,9%8,8%
ZON MULTIMÉDIA21,17,8%-5,5%
BANCO BPI16,96,2%37,8%
GALP14,85,5%-10,2%
EDP RENOVÁVEIS14,25,2%0,7%
SEMAPA, SGPS13,55,0%54,6%
ALTRI, SGPS13,14,8%2,3%
P. TELECOM, SGPS10,73,9%18,3%
Sub-total181,666,9%11,0%
Others89,833,1%10,1%
TOTAL Domestic Shares (1)271,4100,0%10,7%
EUROPEAN UNION MARKET


TOTAL EFINA13,62,5%2,2%
BASF AG NPV13,22,5%11,4%
BAYER AG 12,32,3%1,7%
SIEMENS AG - REG12,22,3%10,2%
SANOFI-AVENTIS11,22,1%3,1%
BBVA10,62,0%22,1%
BNP PARIBAS10,21,9%-1,0%
BANC INTES SANP SPA10,01,9%14,0%
ING GROEP N.V.9,81,8%15,4%
AXA9,31,7%9,3%
Sub-total112,521,0%8,1%
Others423,379,0%2,9%
TOTAL EU Shares (2)535,9100,0%4,0%
NON EU MARKET


APPLE COMPUTER INC14,42,9%12,9%
STENPROP LTD11,42,3%-
NESTLE REG8,61,7%5,8%
EXXON MOBIL CORP8,31,7%12,4%
ROCHE7,81,6%-1,1%
NOVARTIS7,31,5%1,2%
GOOGLE INC CL C7,21,5%14,8%
PROCTER & GAMBLE6,41,3%7,2%
UNITEDHEALTH5,61,1%6,3%
PFIZER5,51,1%20,7%
Sub-total82,516,6%26,0%
Others413,483,4%5,5%
TOTAL non EU Shares (3)495,9100,0%8,5%
Total International Shares (2)+(3)1 031,8-6,1%
TOTAL1 303,17,0%

  Note: Refers exclusively to shares listed on Regulated Markets of Stock Exchanges.

 

Table 4 – Weight of Domestic Groups Bonds issued abroad* in Foreign Bonds held by Securities Investment Funds (10 Largest)   

  Unit: 10^6 Euro 

Bonds**Feb - 15 ​Monthly Var.
Value%Value
CXGD 8 09/28/1536,58,8%0,1%
EDP 3,25% 03/16/1526,16,3%1,9%
EDP FINANCE BV2.625%18.01.202222,15,3%4,8%
BCP FINANCE BANK LTD21,15,1%0,1%
GALP 4,125 25/1/1921,15,1%6,3%
EDP 5.875% 01/02/1620,54,9%-3,9%
PORTUGAL TELECOM I.F.5.875%17.04.201819,64,7%0,0%
REND.NACIONAL B1/1719,44,7%0,9%
REND.NACIONAL B5/1719,44,7%0,9%
REND.NACIONAL B2/1719,44,7%0,9%
Sub-total (1)225,454,3%1,1%
Others189,545,7%0,2%
TOTAL bonds issued by domestic Groups (2)414,8100,0%0,7%
TOTAL foreign bonds in the portfolios of Funds (3)2 648,12,3%
(1)/(3)8,5%-0,1 p.p.
(2)/(3)15,7%-0,26 p.p.

Note: (*) Based on the ISIN codes; (**) Refers only to bonds listed on Regulated Markets of EU Member States' Stock Exchanges. 

 

Table 5 – Investment per Type of Asset and Market

Unit: 10^6 Euro 

Security ​ ​ ​Feb - 15 ​Monthly Var.
Value%Value
Public DebtDomestic296,02,5%0,5%
 Foreign (*)876,77,3%-1,7%
Other Public FundsDomestic19,80,2%-20,1%
 Foreign47,60,4%1,4%
BondsDomestic345,62,9%-10,5%
 Foreign2 739,522,9%2,9%
SharesDomestic271,82,3%10,7%
 Foreign1 032,38,6%6,0%
Investment UnitsDomestic277,32,3%-3,3%
 Foreign2 159,818,1%9,1%
Equity CertificatesDomestic0,00,0%-
 Foreign0,00,0%-
RightsDomestic0,00,0%-
 Foreign0,00,0%-54,0%
WarrantsDomestic0,00,0%-
 Foreign1,60,0%2,0%
OptionsDomestic0,00,0%-
 Foreign1,10,0%-40,9%
OthersDomestic0,00,0%-
 Foreign3,20,0%-9,3%
SECURITIES 8 072,367,6%3,5%
Other Assets 9,40,1%-6,1%
Other Debt Instruments 214,81,8%-22,3%
Liquidity 3 952,033,1%3,2%
Loans -1,80,0%162,0%
Unsettled Amounts -300,4-2,5%28,7%
TOTAL 11 946,2100,0%2,3%

Note(*): As from October 2010, a method change to the Foreign Public Debt's data was made apropos the information previously disclosed

 

Table 6 – Number of Funds and Market Share

Entity ​Feb - 15 ​Monthly Var. ​
No.Market ShareNo.Market Share
Caixagest3231,7%0-0,14 p.p.
BPI Gestão de Activos2416,4%0-0,1 p.p.
Santander Asset Management2415,3%00,7 p.p.
Millennium BCP Gestão de Activos1813,0%00,1 p.p.
GNB256,9%-1-0,92 p.p.
Banif Gestão de Activos114,3%00,13 p.p.
Crédito Agrícola Gest73,8%00,21 p.p.
Montepio Gestão de Activos212,8%0-0,02 p.p.
BBVA Gest61,3%00,02 p.p.
Popular Gestão de Activos101,3%00,07 p.p.
Others323,2%0-0,04 p.p.
TOTAL210100,0%-1-

Legend: p.p. –  percentage points.


 

[1] Unless otherwise indicated, the data contained in this report are a result of information reported to the CMVM by the Securities Investment Fund Management Companies in accordance with the legislation in force. The information used dates back to 10th March 2015, therefore the results are provisional. The monthly variation (Monthly D) always refers to the comparison between the month under analysis and the preceding month.

[2] As from September 2013 and with the entry into force of the new Legal Framework for Collective Investment Undertakings - Decree-Law No. 63-A/2013 of 10 May - the categories of UCITS are included (term reserved for investment undertakings that comply with the investment requirements envisaged in Directive No. 2009/65/EC of the European Parliament and of the Council of 13 July 2009, amended by Directive No. 2010/78/EU of the European Parliament and of the Council (the UCITS Directive), and all the other CIUs deemed alternative investment, in accordance with Directive No. 2011/61/EU of the European Parliament and of the Council of 8 June 2011; until August 2013, according to the now repealed Legal Framework of CIU, approved by Decree Law No. 252/2003 of 17 October, considered the harmonised UCITS, non-harmonised UCITS and Special Investment Funds (SIF). Both classifications may exist side by side until November 2013. During this period, a fund was reclassified, in adapting to the new Legal Framework from a non-harmonized UCITS to a UIATS.