Shareholder figures for 2023 break the 12 million mark again

For the fourth time in a row, the number of investors in shares and other equity investments in 2023 is well above the 12 million mark, as the shareholder figures published today by Deutsches Aktieninstitut show. At 12.3 million German citizens, 17.6 percent of the population aged 14 and over save in shares, equity funds and ETFs. Despite a decrease of 570,000 compared to the previous year, the long-term upward trend remains unchanged.

"In the long term, a broadly diversified equity investment generates an average return of six to nine percent per year. Many people understand the importance of shares, equity funds and ETFs for their retirement provision and wealth accumulation. A good one in six people in Germany was invested in shares in 2023. In view of the turnaround in interest rates, persistently high inflation and a weaker economic outlook, the number of people saving in shares is a good result," emphasizes Dr. Christine Bortenlänger, Chief Executive of Deutsches Aktieninstitut.

ETFs particularly popular with younger people

In 2023, equity-based mutual funds and ETFs (exchange-traded funds) were once again the most popular form of equity investment. The number of investors in funds and ETFs amounted to around 10.3 million, the same level as the previous year.

Younger people in particular are owning ETFs. While 35 percent of equity savers under the age of 40 invest in ETFs, only 17 percent of older people do so. ETFs are also more common among men than women. While one in four male equity savers have an ETF in their portfolio, only one in six female equity savers do.

Number of female equity savers remains constant

4.7 million women – roughly the same number as in the previous year – had shares, equity funds or ETFs in their portfolios in 2023. This stability is encouraging, as women are still less involved in the stock market overall than men. As the number of men with a share investment fell by 520,000 to 7.6 million, the gap between female and male share savers narrowed for the second year in a row.

"Broadly diversified, long-term equity investments with their high returns are predestined for retirement provision. The ‘Generationenkapital’ proposed by the German government, which is intended to build up a capital stock alongside the statutory public pension system, is an important first step towards using equity returns for old-age provision. The government must not delay any longer and must finally introduce the generation capital this year," emphasizes Bortenlänger.

You can find the shareholder numbers here.