Germany household investment fund shares
Germany household investment fund shares stood at 1,318.6 EUR billion in Q1 2026, according to Deutsche Bundesbank. It is one of the indicators in the Household financial accounts table (Value · Quarterly), with a complete series running from Q1 1999 to Q1 2026. The complete series with an interactive chart, free to download.
This indicator in the Household financial accounts table
| Indicator | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | Q4-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Investment fund shares2 | 1,318.6 | 1,315.6 | 1,272.5 | 1,209.7 | 1,165.9 | 1,167.5 | 1,102.2 | 1,064.6 | 1,036.9 | 962.7 | |
| Money-market fund shares | 57.4 | 55.9 | 54.9 | 52.5 | 48.8 | 41.6 | 20.7 | 11.4 | 9.3 | 7.9 | |
| Non-MMF investment fund shares | 1,261.3 | 1,259.7 | 1,217.6 | 1,157.2 | 1,117.2 | 1,125.9 | 1,081.6 | 1,053.2 | 1,027.6 | 954.8 |
Understanding germany household investment fund shares
Collective investment undertakings spanning all fund structures and asset classes are grouped within this aggregate. It encompasses retail and institutional mutual fund units held directly by domestic individuals, covering equity funds, bond funds, mixed allocation strategies, property funds, and money-market vehicles. The series brings together both liquid short-term paper funds and long-term investment vehicles under a single balance sheet heading. Direct securities held individually, such as standalone company shares or sovereign bonds, are excluded, as are collective holdings packaged inside unit-linked life insurance policies or occupational pension arrangements, which appear under insurance and pension entitlements.
Evaluating changes in this stock requires separating market price fluctuations from net subscription activity. Total values shift continuously as the market valuations of underlying portfolio assets fluctuate and as households purchase or redeem fund certificates. Because mutual funds hold market-traded instruments, general capital market swings heavily influence quarter-on-quarter variations. Annual comparisons provide a clearer picture of structural saving patterns by dampening short-term financial market volatility. Revisions occur periodically as custodian census reports and cross-border fund register data are integrated. Readers should avoid treating changes in this balance as net household saving, because declining asset prices can reduce total holdings even while individuals actively inject fresh funds.
Frequently asked questions
- Does this series separate domestic investment funds from foreign funds?
- The aggregate includes both domestic and foreign-domiciled investment funds held in retail custody accounts without distinguishing fund origin.
- Are open-ended real estate funds included in this measure?
- Yes, shares in open-ended real estate funds are recorded here alongside equity, bond, and multi-asset funds.
- How does this row differ from direct holdings of debt securities and shares?
- This row captures pooled collective investment vehicles, whereas direct purchases of specific corporate equities or government bonds sit in separate security categories.