Investment funds are seeing their largest influx of money since the year 2000

The German fund industry experienced a significant surge in the first half of 2025, with a net inflow of approximately 57 billion euros. This influx pushed the total assets under management to an impressive 4.086 trillion euros, according to recent reports.

One of the key drivers of this growth was the increased interest in sustainable funds. Every third euro invested in the second quarter flowed into a sustainable fund in Germany. As a result, the total amount of sustainable funds in the industry reached 361 billion euros, with 251 billion euros in public funds and 110 billion euros in special funds.

Equity funds remained the largest group of public funds, with a total value of 576 billion euros. Pension funds and similar institutions have overtaken insurance companies, investing 644 billion euros and 645 billion euros in special funds, respectively.

In the case of open public funds, they are worth 1.354 trillion euros, while open special funds account for 2.084 trillion euros. Closed funds in the German fund industry are worth 34 billion euros.

The leading investors in sustainable open special funds (Spezialfonds) in Germany over recent times include open real estate funds and special funds, which showed significant purchasing activities in the first half of 2025. Notably, the ZBI-Union-Investment consortium ranked highest on the sell-side due to large portfolio sales, while open real estate and special funds climbed to the top on the buy-side with a transaction volume rising from roughly €260 million in H1 2024 to €980 million by mid-2025.

Since mid-2016, the share of pension funds and similar institutions in the total fund assets has increased from 26% to 31%. Approximately every tenth euro in open public and special funds is now sustainably invested.

The net new business in the first half of the year amounted to 110.4 billion euros. However, no new information about the net inflow of specific types of funds, mandates, closed funds, or the value of each type of fund (open special, open public, closed) was provided in this paragraph.

Mandates in the German fund industry are worth 615 billion euros. No new information about the performance or largest group of any type of funds was provided in this paragraph.