Résumé

After British investors at the beginning of the nineties, and American ones in the middle of the same decade, the launch of the euro led stock market investors of the euro area to start substituting a sectorial approach to the national one. During the period from 1996 to 2000, the share of sectorial funds - excluding property funds - increased to 9.5 % of overall equity funds in the euro area and reached more than 20% in Belgium, Ireland and Germany. Considering sector categories, sectorial fund’s growth over the period remains however strongly linked to the development of the new economy. Property funds, for their part, have gained more importance in Germany than in any other European country.

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