Germany’s fund industry surpasses €5T in assets for first time

Germany’s fund industry just crossed a threshold that puts it in rarefied company. Total assets under management hit €5.2 trillion as of mid-2026, according to the German Investment Funds Association (BVI), making it the first time the country’s fund sector has breached the €5 trillion mark. That’s up from €4.852 trillion at the end of 2025, a jump of €348 billion in just six months. A 7% gain in half a year is the kind of performance that makes wealth managers sleep well at night. ETFs are running the show The engine behind this growth has a familiar name: exchange-traded funds. Of the roughly €74 billion in industry-wide net flows during the first half of 2026, ETFs captured nearly €40 billion. That’s more than half the total pie going to a single product category. Equity ETFs were particularly dominant, pulling in €33.9 billion of the €38.3 billion in net inflows into equity funds overall. To put that in perspective, actively managed equity funds attracted roughly €4.4 billion. Equity ETFs now represent 45% of Germany’s total equity fund assets, sitting at €496 billion out of €1,092 billion in equity funds. Total reported ETF assets in Germany reached €585 billion under a new re...