French non-MMF investment funds long-term debt net flows
French non-MMF investment funds long-term debt net flows stood at 0.43 EUR billion in Q2 2026, according to Banque de France – Webstat (webstat.banque-france.fr). It is one of the indicators in the Securities held by residents table (Value · Quarterly), with a complete series running from Q1 2009 to Q2 2026. The complete series with an interactive chart, free to download.
This indicator in the Securities held by residents table
| Indicator | Q2-2026 | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| All non-money market funds, net flows | |||||||||||
| Holdings of long-term debt securities | 0.43 | 11.87 | 2.59 | 8.77 | 9.73 | 9.9 | 8.63 | 8.26 | 9.51 | 7.04 | |
| Holdings of short-term debt securities | 1.13 | -3.24 | 1.87 | 1.09 | -0.98 | 6.16 | 12.05 | 1.31 | -1.46 | -1.42 |
Understanding french non-MMF investment funds long-term debt net flows
Capital transactions executed within non-money market investment fund portfolios targeting fixed-income securities possessing original maturities exceeding one year constitute this flow measure. Included are net acquisitions and divestments of bonds, notes, and other extended-duration debt instruments issued by domestic and foreign entities, while short-term instruments, equity shares, and derivative contracts are excluded. This series isolates the net new money directed toward longer-term debt obligations by collective investment vehicles, differentiating itself from sibling rows tracking short-term debt instruments, equity allocations, or liquid deposits by focusing strictly on the debt segment with extended maturity horizons.
Interpreting these transaction figures requires accounting for cyclical portfolio adjustments and periodic valuation shifts that influence fund manager allocations between fixed-income assets and equity holdings. Early estimates of net transactions are subject to routine revisions as reporting investment funds supply finalized administrative data and correct initial classifications of debt instruments. Analysts should evaluate period-on-period movements alongside broader yield curve shifts and monetary policy announcements, avoiding direct comparisons with outstanding stock measures since flows capture transactional activity rather than price-driven changes in portfolio valuation.
Frequently asked questions
- What financial instruments are counted within long-term debt net flows for non-MMF investment funds?
- Bonds, notes, and other fixed-income securities with an original maturity exceeding one year are included.
- How do net flows differ from total outstanding long-term debt holdings?
- Net flows measure the net value of newly purchased securities minus sales and redemptions during the period, excluding valuation changes.
- Why might early net flow figures for long-term debt undergo subsequent revision?
- Initial estimates are updated when investment funds submit corrected regulatory returns and finalized transaction reports.