The Bank of Portugal published updated investment fund statistics to December 2024, reporting that outstanding investment fund units reached EUR 45.3 billion, the highest level in the series, while total fund assets rose to EUR 52.3 billion. Households increased their investment in fund units by EUR 1.6 billion in 2024 and remained the largest investor sector. Over 2024, the value of units outstanding rose by EUR 4.1 billion, driven mainly by other volume and price effects, including valuation gains of EUR 2.1 billion and the conversion of non-financial real estate companies into investment funds worth EUR 1.9 billion; net issuance contributed EUR 0.1 billion. Net flows differed by fund type, with bond funds recording net issuance of EUR 0.9 billion while real estate funds recorded net redemptions of EUR 0.8 billion, and real estate funds accounted for 76% of other volume and price effects. Real estate funds’ share of total investment fund assets increased to 44% at end-2024 (up 2 percentage points year on year), and households held 49% of units outstanding; in portfolio transactions, funds reduced deposits by EUR 0.3 billion, were net sellers of non-financial assets (notably property) by EUR 0.9 billion, and increased debt securities investment by EUR 0.8 billion. The next update is scheduled for February 2026.
Bank of Portugal 2025-02-13
Bank of Portugal updates December 2024 investment fund statistics showing record EUR 45.3 billion in fund units outstanding
The Bank of Portugal reported that outstanding investment fund units reached EUR 45.3 billion by December 2024, marking the highest level in the series, with total fund assets rising to EUR 52.3 billion. Households increased their investment by EUR 1.6 billion, remaining the largest investor sector. Real estate funds' share of total assets grew to 44%, with notable net issuance and redemption activities across different fund types.