Overview
- Industry association BVI reports €4.851 trillion in assets at end-2025, up about 8.5% year over year on market gains and new money.
- Retail public funds attracted €86 billion in net new money, the strongest since 2021, within €154 billion in total net inflows last year.
- ETFs proved especially popular, with €57 billion flowing into equity and bond products as households added to funds and ETFs.
- Nearly half of industry assets are held in institutional Spezialfonds for insurers and pension funds, and Germany now has 37 million securities accounts.
- BVI says the positive inflow trend continued at the start of 2026, while Chancellor Friedrich Merz outlined a shift toward funded private and workplace pensions with a reform planned this year.