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Resident Holdings of Foreign Portfolio Securities 2021

Investment in foreign securities rose to €4.5 trillion at end-2021

Online ISSN: 2009-6747

CSO statistical publication, 29 September 2022, 11am

Key Findings

The value of Irish residents’ holdings of foreign securities at end-December 2021 amounted to €4,460bn, an increase of €818bn on the 2020 amount.
Combined investment in US-issued and UK-issued instruments (€2,473bn) accounted for 55.5% of the total stock.
Overall investment in US securities rose to €1,629bn.
Investment in UK securities rose to €845bn.
Total investment in investment funds increased by €595bn to €3,044bn – the corresponding total investment in money market funds increased by €50bn to €475bn.
Significant holdings are also shown for France (€231bn, up 4.3%) Luxembourg (€195bn, up 34.1%), the Netherlands (€141bn, up 17.8%), Germany (€139bn, up 10.2%), Japan (€136bn, up 18.3 %), and the Cayman Islands (€113bn, up 9.0 %).

Statistician's Comment

The Central Statistics Office (CSO) has today (29 September 2022) released the Resident Holdings of Foreign Portfolio Securities 2021.

Commenting on the release, Mavo Ralazamahaleo, Statistician in the International Accounts section of the CSO, said:

“Irish resident holdings of foreign portfolio securities reached €4,460bn at end-December 2021, an increase of €818bn on the 2020 value of €3,642bn. This was largely due to an increase in holdings of equity and bonds and notes which were up €504bn and €225bn respectively. Investment in US-issued and UK-issued instruments remains strong and for the third consecutive year their combined investment has exceeded 50% of the total resident holdings.

Foreign portfolio securities remain predominantly invested in Investment Funds and Money Market Funds where holdings increased by €595bn and €50bn respectively to €3,044bn and €475bn at end 2021.”

Resident Holdings of Foreign Portfolio Securities - 31 December 2021				€ million
	Equity	Bonds and Notes	Money Market Instruments	Total
2021
Total	2,036,457	1,849,341	574,498	4,460,296
of which:
United States	919,985	542,941	165,943	1,628,869
United Kingdom	180,916	544,360	119,313	844,589
France	62,351	99,960	68,896	231,207
Luxembourg	151,807	32,156	11,497	195,460
Netherlands	54,804	72,647	13,453	140,904

Open in Excel: Resident Holdings of Foreign Portfolio Securities 2021 Headline Table (XLS 32KB)

Investment in foreign securities increased to €4.5 trillion at end of 2021

The value of Irish residents’ holdings of foreign securities at end-December 2021 amounted to €4,460bn, up €818bn on the 2020 level of €3,642bn. The increase is largely accounted for by increases in equity assets and bonds and notes.

A total of €2,473bn were attributed to a combined investment in US-issued and UK-issued instruments. Together, they accounted for more than half of the total stock.

	Equity	Bonds	MMIs
United States	919.985	542.941	165.943
United Kingdom	180.916	544.36	119.313
France	62.351	99.96	68.896
Luxembourg	151.807	32.156	11.497
Netherlands	54.804	72.647	13.453
Other	666.594	557.277	195.396

Other points of note from the end-2021 results are:

Overall investment in US securities rose by €442bn to €1,629bn and prevails as the most attractive investment location. US investment in equity increased by €305bn and US investment in bonds and notes and money market instruments increased by €117bn and €20bn respectively (See Table 1). Investment funds accounted for 76% of US securities while investment by money market funds accounted for just 7% of the US securities total (See Table 2).
Investment in UK securities rose by €127bn to €845bn, holding its position as the second most popular investment location. France is still ranked in third place where investment increased by €10bn to €231bn.
Significant holdings are also shown for Luxembourg (€195bn, up 34.1%), the Netherlands (€141bn, up 17.8%), Germany (€139bn, up 10.2%), Japan (€136bn, up 18.3 %) and the Cayman Islands (€113bn, up 9.0 %).
Total investment in investment funds increased by €595bn to €3,044bn – the corresponding total investment in money market funds increased by €50bn to €475bn (See Table 2).

	Debt	Equity
Central Bank	14.45556369197	0
Banks	42.8839693720932	2.38032878456698
Money Market Funds	475.353433389034	0
Investments Funds	1339.248036	1704.27688619071
Insurance & Pensions	87.4972332450591	246.19342339546
Government	0.150483136	4.929076742
Other	464.250523992014	78.67707464621

^{Central Bank: S121}
^{Banks: S122}
^{Money Market Funds: S123}
^{Investment Funds: S124}
^{Insurance & Pensions: S128/S129}
^{Government: S13}
^{Other: S1V/S12O}

	Debt	Equity
2019	2013.049	1389.059
2020	2109.91684287026	1532.45645077032
2021	2423.83924282617	2036.45678975894

This release also provides analysis by country of issuer and sector of holder (Table 2). Corresponding data for 2020 are shown including revisions resulting from more recent information. Overall, the data are compatible in form and content with the data being submitted to the International Monetary Fund (IMF) as part of Ireland’s on-going participation in the IMF’s world-wide bi-annual Coordinated Portfolio Investment Survey. They are also consistent with the portfolio investment stock statistics published on the 02September 2022 in the International Accounts Quarter 2 2022 – see Background Notes. More detailed geographical analysis is available on PxStat.

Table 1 Resident Holdings of Foreign Portfolio Securities - by Country

Table 1 Resident Holdings of Foreign Portfolio Securities¹ - by Country of Issuer								€ million
Country	Equity		Bonds and Notes		Money Market Instruments		Total
Country	31 Dec 2020²	31 Dec 2021	31 Dec 2020²	31 Dec 2021	31 Dec 2020²	31 Dec 2021	31 Dec 2020²	31 Dec 2021
Australia	16,642	20,087	14,131	14,849	8,306	20,521	39,079	55,457
Austria	2,016	2,752	6,845	6,935	3,830	3,709	12,691	13,396
Belgium	4,881	5,796	15,552	14,213	13,307	15,457	33,740	35,466
Bermuda	9,107	9,727	*	6,611	*	0	13,971	16,338
Brazil	7,690	6,280	5,003	4,461	27	44	12,720	10,785
Canada	17,156	27,726	18,119	24,650	15,692	24,915	50,967	77,291
Cayman Islands	81,128	87,116	20,953	23,523	1,816	2,654	103,897	113,293
China	26,596	32,776	13,860	25,248	1,769	1,293	42,225	59,317
Denmark	10,065	13,733	9,382	11,051	2,990	4,343	22,437	29,127
Finland	7,171	8,368	4,916	5,827	14,579	10,639	26,666	24,834
France	46,922	62,351	95,445	99,960	79,319	68,896	221,686	231,207
Germany	43,929	50,461	58,915	64,610	23,699	24,391	126,543	139,462
Hong Kong	11,797	11,798	1,939	2,460	2,335	3,808	16,071	18,066
India	20,043	31,510	1,574	2,465	0	0	21,617	33,975
Indonesia	3,189	3,961	8,251	7,885	0	3	11,440	11,849
Italy	44,985	20,198	69,928	74,022	1,262	-993	116,175	93,227
Japan	74,411	88,917	19,100	22,338	21,593	24,922	115,104	136,177
Jersey	8,260	11,923	*	4,504	*	184	12,463	16,611
Korea, Republic of	25,463	26,211	3,663	4,874	171	90	29,297	31,175
Luxembourg	108,401	151,807	28,283	32,156	9,047	11,497	145,731	195,460
Mexico	3,268	3,816	12,737	11,557	39	0	16,044	15,373
Netherlands	40,750	54,804	67,952	72,647	10,953	13,453	119,655	140,904
Norway	5,646	8,058	5,924	7,057	2,522	4,066	14,092	19,181
Poland	971	1,199	3,401	2,416	0	0	4,372	3,615
Portugal	1,291	1,681	5,260	5,478	176	44	6,727	7,203
Russian Federation	10,583	12,073	14,665	14,039	0	0	25,248	26,112
Singapore	3,885	5,287	2,491	3,867	5,663	6,245	12,039	15,399
South Africa	5,755	5,385	6,055	6,279	48	533	11,858	12,197
Spain	14,191	14,466	44,415	47,166	1,357	3,760	59,963	65,392
Sweden	17,024	21,391	12,834	12,517	14,879	15,196	44,737	49,104
Switzerland	29,691	41,178	7,041	7,486	12,349	11,654	49,081	60,318
Taiwan, Province of China	23,396	32,523	23	85	0	2	23,419	32,610
Turkey	1,174	787	3,983	3,729	3	4	5,160	4,520
United Kingdom	152,493	180,916	488,625	544,360	76,350	119,313	717,468	844,589
United States	615,107	919,985	426,366	542,941	145,479	165,943	1,186,952	1,628,869
Other countries ³	37,379	59,410	100,091	95,618	9,095	11,079	146,565	166,107
International Organisations	0	0	17,902	19,457	6,571	6,833	24,473	26,290
Total	1,532,456	2,036,457	1,624,662	1,849,341	485,255	574,498	3,642,373	4,460,296
¹The figures exclude Reserve Assets (see Background Notes).
²Revised
³This category includes data supplied by respondents without a geographical breakdown.
*Suppressed for confidentiality reasons.

Open in Excel: Resident Holdings of Foreign Portfolio Securities 2021 Table 1 (XLS 15KB)

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Table 2 Resident Holdings of Foreign Portfolio Securities - by Country of Issuer and Sector of Holder

Table 2 Resident Holdings of Foreign Portfolio Securities¹ - by Country of Issuer and Sector of Holder																		€ million
Country	Central Bank		Banks		Money Market Funds		Investment Funds		Insurance & Pensions		Government		Non financial corporations, households and NPISH		Other financial institutions		Total
	S121		S122		S123		S124		S128/9		S13		S1V		S12O
	31 Dec 2020²	31 Dec 2021	31 Dec 2020²	31 Dec 2021	31 Dec 2020²	31 Dec 2021	31 Dec 2020²	31 Dec 2021	31 Dec 2020²	31 Dec 2021	31 Dec 2020²	31 Dec 2021	31 Dec 2020²	31 Dec 2021	31 Dec 2020²	31 Dec 2021	31 Dec 2020²	31 Dec 2021
Australia	0	0	*	*	8,259	19,471	26,905	31,186	*	*	56	4	0	0	786	1,818	39,079	55,457
Austria	212	162	273	253	3,485	3,284	6,288	6,760	1,521	1,540	1	0	0	0	911	1,397	12,691	13,396
Belgium	907	739	1,532	425	12,602	14,432	9,281	9,779	3,179	3,099	20	2	0	0	6,219	6,990	33,740	35,466
Bermuda	0	0	*	*	0	0	13,578	15,844	*	*	1	1	0	0	0	0	13,971	16,338
Brazil	0	0	0	*	0	0	12,561	*	159	171	0	0	0	0	0	*	12,720	10,785
Canada	672	620	1,288	1,442	14,250	23,041	30,988	45,483	2,006	2,445	16	16	0	0	1,747	4,244	50,967	77,291
Cayman Islands	0	0	*	*	1,635	2,107	99,174	106,967	*	*	43	30	0	0	1,183	1,396	103,897	113,293
China	0	0	*	*	1,640	1,217	39,475	56,763	*	*	45	1	*	*	139	208	42,225	59,317
Denmark	183	182	492	332	2,179	3,353	17,549	22,879	929	1,345	7	1	0	0	1,098	1,035	22,437	29,127
Finland	121	92	553	*	13,893	10,226	7,962	*	3,227	*	15	3	0	0	895	*	26,666	24,834
France	4,790	3,803	7,540	6,868	74,040	60,867	94,920	110,811	21,068	24,111	349	189	0	0	18,979	24,558	221,686	231,207
Germany	431	230	3,058	3,162	20,525	19,003	71,849	84,160	20,639	18,989	85	54	4	5	9,952	13,859	126,543	139,462
Hong Kong	0	0	0	*	2,282	3,801	12,617	*	1,168	*	4	3	0	0	0	*	16,071	18,066
India	0	0	*	*	0	0	*	33,105	*	*	0	0	0	*	*	0	21,617	33,975
Indonesia	0	0	0	*	0	0	11,277	*	163	177	0	0	0	0	0	*	11,440	11,849
Italy	1,901	1,819	11,545	5,639	253	203	44,163	49,082	36,887	11,094	73	69	0	0	21,353	25,321	116,175	93,227
Japan	0	0	*	1,708	16,628	20,343	89,508	105,339	*	4,297	37	16	0	0	2,809	4,474	115,104	136,177
Jersey	0	0	31	*	0	118	11,755	*	674	525	0	0	3	*	0	*	12,463	16,611
Luxembourg	0	0	784	486	5,327	9,172	59,251	70,416	68,358	103,501	118	84	0	0	11,893	11,801	145,731	195,460
Mexico	0	0	*	*	0	0	*	*	*	334	3	0	0	0	*	*	16,044	15,373
Netherlands	253	229	2,293	1,571	10,789	13,890	68,046	82,245	7,105	8,553	134	39	0	0	31,035	34,377	119,655	140,904
Norway	136	136	*	1,047	2,536	3,616	*	11,787	*	1,955	2	0	0	0	*	640	14,092	19,181
Poland	154	99	*	*	0	0	*	*	*	*	1	2	0	0	*	*	4,372	3,615
Portugal	129	113	1,328	1,230	121	34	2,265	2,593	379	404	9	0	0	0	2,496	2,829	6,727	7,203
Korea, Republic of	184	204	0	*	175	91	27,357	29,041	1,274	*	0	0	0	0	307	461	29,297	31,175
Russian Federation	0	0	0	0	0	0	10,247	11,065	131	177	0	0	0	0	14,870	14,870	25,248	26,112
Singapore	0	0	*	*	5,466	6,127	*	*	*	*	2	1	0	0	*	*	12,039	15,399
South Africa	0	0	*	0	0	481	*	11,491	*	225	0	0	0	0	*	0	11,858	12,197
Spain	2,305	1,846	5,032	3,294	810	2,324	29,461	33,320	5,950	6,076	70	18	0	0	16,335	18,514	59,963	65,392
Sweden	0	0	1,586	1,276	13,780	14,332	17,398	19,778	6,421	7,180	13	5	0	0	5,539	6,533	44,737	49,104
Switzerland	0	0	*	*	11,841	8,887	33,019	44,043	*	*	14	8	0	0	*	1,864	49,081	60,318
Taiwan Province of China	0	0	0	0	0	0	22,467	31,357	950	1,250	2	3	0	0	0	0	23,419	32,610
Turkey	0	0	*	0	0	0	5,107	4,470	*	50	0	0	0	0	0	0	5,160	4,520
United Kingdom	0	0	4,042	4,819	74,451	107,560	485,838	555,586	49,831	*	1,466	1,686	0	*	101,840	122,916	717,468	844,589
United States	0	0	1,429	5,252	114,903	114,223	906,972	1,236,313	*	59,553	2,467	2,744	*	176	114,964	210,608	1,186,952	1,628,869
Other countries³	151	122	1,323	947	6,448	6,480	107,652	123,992	3,752	6,258	112	101	0	53	27,127	28,154	146,565	166,107
International Organisations	5,166	4,060	3,592	2,615	6,920	6,670	7,333	10,619	489	442	0	0	0	0	973	1,884	24,473	26,290
Total	17,695	14,456	53,046	45,264	425,238	475,353	2,448,558	3,043,525	298,137	333,691	5,165	5,080	46	261	394,488	542,666	3,642,373	4,460,296
¹The figures exclude Reserve Assets (see Background Notes).
²Revised.
³This category includes data supplied by respondents without a geographical breakdown.
*Suppressed for confidentiality reasons.

Open in Excel: Resident Holdings of Foreign Portfolio Securities 2021 Table 2 (XLS 18KB)

Visit Table BPA32 on PxStat

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Resident Holdings of Foreign Portfolio Securities 2021