1. Non‑residents invested more in French shares in 2021
Non‑resident investors preferred listed French shares
At end‑2021, non‑residents owned 40.5% of the share capital of the 35 resident companies listed in the CAC 40, up 1 percentage point on the previous year (see Chart 1). This makes 2021 the first year to record an increase in non‑resident equity ownership since 2013.
Non‑resident investments primarily consisted of portfolio investments (90.8%). Direct investments made up 9.2% of the total, down by slightly more than 1…