The German funds industry last year recorded its highest retail fund inflows since 2021 and saw total assets reaching a record EUR 4.85 trillion.
Funds attracted EUR 154 billion in net inflows last year, according to data from the German Investment Funds Association BVI.
Open-ended retail funds accounted for EUR 86 billion of this total, with EUR 57 billion flowing into equity ETFs and bond ETFs.
Describing 2025 as a “strong year” for the industry, BVI president Matthias Liermann says that the positive trend has continued into 2026.
“Participation in the capital market is gathering momentum, with a steadily broader segment of the population recognising that securities have become a cornerstone of long-term wealth accumulation and retirement planning,” he said.
This shift is visible in both the high number of fund savings plans and the increase in securities accounts.
According to the Bundesbank, investors in Germany now hold 37 million securities accounts – 14 million more than in 2020, including 6 million added in the past two years.
At the end of 2025, fund companies held EUR 4.851 trillion on behalf of investors in Germany. The largest share – EUR 2.287 trillion – sits in open-ended Spezialfonds for institutional investors.
