Our topics
Fewer than one Euro in ten saved in Germany flows into shares or other securities. This deprives ordinary savers of returns which they could well use for private asset accumulation. We endeavour to change this situation. We also advocate for policy decisions which enhance the attractiveness of saving through securities.
![[Translate to English:] Dr. Gerrit Fey](/fileadmin/user_upload/Gerrit_Fey_q.JPG)
Contact
Dr. Gerrit Fey
Head of Capital Markets Department
Tel. +49 69 92915-41
fey(at)dai.de
By providing for sufficient diversification of an equity investment and focusing on the long term, investor can expect shares to achieve a high return, even without spending a lot of time on monitoring performance.
This credo of...
The DAX Return Triangle for savings plans shows that investing continiously and long-term in a broad equity portfolio has paid out in the past. Savers who invested month by month a constant ammount of money into a portfolio of DAX...
This is also impressively demonstrated by the special edition of the DAX Return Triangle on the occasion of the 70th anniversary of the Deutsches Aktieninstitut. Over the past 70 years, a portfolio of DAX stocks has generated an average...
The Euro STOXX Return Triangle visualises the performance of an investment in equities in the European currency area under the assummption of an one-off investment.
The annual average return on a broadly diversified equities portfolio -...
2022 was a good year for the equity culture in Germany. Confidence in shares remains unbroken. A total of 12.9 million people were invested in shares, equity funds or ETFs last year. This represents an increase of 830,000 equity savers...
Germany has never had more stock savers. 12.9 million people were invested in shares, equity funds or ETFs last year, according to the shareholder figures published today by the Deutsches Aktieninstitut. That is slightly more than at the...
On the occasion of tomorrow's Education Day, Deutsches Aktieninstitut is calling on the German government to do even more to promote economic education in Germany. This requires a separate economics subject in schools and the prompt...
The young generation relies on equity funds and equity-based ETFs. She informs herself online in social media and saves for asset accumulation and retirement provision. This is the result of a study by the Center for Research in...
A new study by the Center for Research in Financial Communication at leipzig University in cooperation with the DIRK - Deutscher Ivestor Relations Verband and Deutsches Aktieninstitut shows that young people under the age of 35, the...
Die Eckpunkte des Zukunftsfinanzierungsgesetz sehen einen Freibetrag auf Kursgewinne vor, die beim Verkauf von Aktien und Aktienfonds anfallen. Was ist die angemessene Höhe dieser Freibeträge, damit Kleinsparer die notwendigen Anreize...
According to the key points of the Zukunftsfinanzierungsgesetz presented by the ministries of finance and justice at the end of June, the tax allowance for employee share ownership, for example employee shares, is to rise from the...
The proposed Zukunftsfinanzierungsgesetz released by the Geman Federal Ministry of Finance and the Federal Ministry of Justice provide an increase in the tax allowance for employee share ownership from the current 1,440 euros to 5,000...
In an interview with hr-Info, Dr Gerrit Fey explains why more young people have discovered the stock market for themselves in 2020. Technical achievements, social media and Corona were important factors for this. In addition, more and...
The key points for the Zukunftsfinanzierungsgesetz presented by Federal Minister of Finance Lindner and Federal Minister of Justice Buschmann provide important impulses. Whether tax-free capital gains or a higher employee capital...
In an interview with VZ Vermögenszentrum, Dr Christine Bortenlänger underlines the superiority of shares as an investment. In phases of high price increases, shares as fixed assets offer good protection against inflation and they...
Anne-Catherine Beck spoke with Dr Gerrit Fey about the reasons why shares are an attractive investment and why more and more young people are investing in them. In addition to uncomplicated access to share trading through the smartphone,...
The war in Ukraine has changed the environment for shares. Nevertheless, assets such as shares have not become less attractive, emphasises Dr Christine Bortenlänger in an interview. The returns on the stock market are attractive enough...
Employee share ownership, old-age provision and the tax framework for equity investment - these are urgent issues for the future that must not be pushed into the background despite the current geopolitical challenges, demands Dr Norbert...
Employee share ownership is an important point on the capital market policy agenda of the federal government. The tax allowance, which was already raised last year from 360 euros p.a. to 1,440 euros p.a., is to be increased again. Reason...
Interviewed by Heike Bangert from Focus Money, Dr. Christine Bortenlänger spoke about topics related to shares. She emphasised that we in Germany have a lot of catching up to do when it comes to saving for shares compared to countries...
New calculations by Deutsches Aktieninstitut show that the reintroduction of tax exemption for equity income after a holding period would be an attractive incentive to promote equity savings in Germany. The introduction of an investment...
In the model calculation, the financial effects of increasing the saver's allowance to 1,000 euros are examined with a view to equity investment and compared with other tax instruments. These include the cumulative savers' allowance, the...
What is the state of the equity culture in Germany? In an interview with the ideas magazine of Société Générale, Dr. Franz-Josef Leven talks about the questions of whether dividends are the better interest rate in times of high inflation...
What are shares actually, how many shareholders are there in Germany, what is the best way to invest and "are women at some point too old to buy shares"? In an interview with Sabrina Marggraf, Dr Christine Bortenlänger talks about the...
In an interview with Dirk Neubauer, Dr. Christine Bortenlänger emphasises that building up wealth with shares is a marathon with ups and downs. What is important at the end of the day, she says, is that investors feel comfortable with...
Economic knowledge and financial literacy ensure increasing prosperity and are central building blocks for a self-determined society. However, Germany is struggling to recognise this and take the necessary steps, write Dr. Christine...
This year's International Women's Day is themed #breakthebias. When it comes to finances, it is also time to overcome outdated clichés. Finances are not a man's business, quite the opposite: women should go about it with self-confidence...
In 2021, almost 12.1 million people in Germany were invested in shares, equity funds or ETFs - the third highest level since our survey began in 1997. In an interview with Sonja Ingerl, Dr Gerrit Fey talks about the new shareholder...
2021 was a good year for the equity culture in Germany. Almost 12.1 million equity savers were invested in shares or equity-based funds last year. Around every sixth person is thus involved in the stock market. Confidence in shares is...
In 2021, almost 12.1 million people in Germany were invested in shares, equity funds or ETFs - the third highest level since our survey began in 1997. In an interview with Nadine Oberhuber, Dr. Christine Bortenlänger talks about the new...
Almost 12.1 million Germans were invested in shares, funds or ETFs in 2021, according to the shareholder numbers published today by Deutsches Aktieninstitut. This is the third-highest level in the surveys and, despite a decrease of...
In 2021, almost 12.1 million people in Germany were invested in shares, equity funds or equity-based ETFs. That is around one in six of our fellow citizens over the age of 14 and the third-highest level since our study began in 1997.
De...
How the stock market year 2022 develops also depends to a large extent on the traffic light government. Will it get a grip on problems like Corona? What impulses will it provide on the world political stage? But four state elections, the...
On the occasion of the Education Day, Deutsches Aktieninstitut calls on the new federal government to commit to more economic education in Germany. This requires a separate school subject of economics and a national agenda for more...
The new federal government took office today. In order to achieve the goals it has set for itself, it has to get started right away, because the renewal of the state or Germany's climate neutrality are already mammoth tasks. Birgit...
Since the middle of the year, a higher tax allowance for employee share ownership has been in effect. However, the new traffic light coalition should also remove regulatory hurdles, demands Dr Norbert Kuhn in his article for Going Public...
The stock market has reached the pocket. Inexpensive apps make it easier for young investors to get started on the stock market and financial influencers get young people excited about the stock market & co, writes Donato Di Dio in his...
Germany is still far behind in terms of the number of its shareholders in an international comparison, criticises Dr Christine Bortenlänger. However, shares with their attractive returns are crucial for successful asset accumulation and...
„Seit 1924 wird am...
More than 30 years after its foundation, the German leading index DAX was expanded from 30 to 40 stocks. However, the MDAX is losing its heavyweights as a result of the reform, criticises Dr. Christine Bortenlänger. No matter which index...
Dr. Christine Bortenlänger and the Head of Economics at Deka Bank, Dr. Holger Bahr, spoke with business journalist Patrick Dewayne about the future of the securities culture. Topics included the attractiveness of shares for asset...
In this interview, Dr. Franz-Josef Leven comments on the Bundestag election campaign. He criticises that the topic of old-age provision hardly plays a role in the political contest and makes a plea for old-age provision with shares. In...
A new Bundestag will be elected at the end of September. In the €URO interview, Dr. Franz-Josef Leven talks about the election programmes of the parties and what they mean from a shareholder's point of view. In particular, he criticises...
Financial literacy is an important part of general education. Nevertheless, economics remains a neglected subject in many schools. A call for better financial education in Germany.
„Ich bin fast 18 und hab‘ keine Ahnung von Steuern,...
The EU Commission currently evaluates the legislative framework for retail investor protection. We applaud this initiative and call for a better balance of the framework. The EU legislation for informing retail investors and providing...
Financial literacy is an important part of general education. Yet the subject of economics ekes out a shadowy existence in many schools. What is needed is a fundamental understanding of economics and finance, taught by well-trained,...
Efficient capital markets contribute to securing prosperity. Deutsches Aktieninstitut therefore calls on the next federal government to promote equities in Germany and to make the German capital market fit for the future. In a ten-point...
For the Bundestag elections in 2021, we demand that the framework conditions for shares as an investment and financing instrument be improved. In addition to the design of the tax framework, it is important to strengthen Germany as a...
The Finance Committee of the German Bundestag has decided to increase the tax allowance for employee equity ownership to 1,440 euros. In an interview with Constantin Härthe, Dr Norbert Kuhn welcomes the increase as progress, but...
In a YouTube interview shortly before Easter, Finance Minister Olaf Scholz reacted in an unusually emotional way to a critical question about the financial transaction tax. He said that the criticism of the share tax was pretextual...
The DAX reached a new record high in April. The Orange podcast "Businessclass" asks whether it is still worth investing in the stock market. As one of the experts reporting on the Germans' increased interest in the stock market, Dr...
The shareholder boom brought Germany almost three million new equity savers. Interest in equity funds was particularly strong. In her article, Dr Christine Bortenlänger explains the reasons for the increased interest in funds and ETFs...
In the course of the general shareholder boom in 2020, the number of employee shareholders has also increased significantly. However, in order to turn this development into a long-term trend, further political support is needed, says Dr...
In the Corona crisis, Germans have discovered their love for stocks. The number of shareholders is as high as it was 20 years ago. The magazine "Volle Kanne" interviewed experts on this topic in a feature. Dr Gerrit Fey outlines the...
The return triangle for employee shares developed by experts of the hkp/// group calculates returns of, by way of examples, employee share ownership programs of the indices DAX, MDAX, TecDAX und SDAX, and for companies belonging to the...
Our latest shareholder figures show: In 2020, more than 12 million people owned shares, equity-based funds or ETFs. That is an increase of almost 3 million people. Younger people have also invested courageously in the stock market. Is...
In the Corona year 2020, almost as many people were involved in the stock market as last at the turn of the millennium. In Germany compared to 2019, around 2.7 million more people are now saving in shares, equity funds or ETFs. Just...
Deutsches Aktieninstitut has published its updated shareholder figures for Germany. With 12.4 million people, a particularly large number were invested in shares in the Corona year 2020. The young generation in particular discovered the...
Corona has given an additional boost to the youth trend that Deutsches Aktieninstitut has been observing in stock investing since 2014, states Dr Franz-Josef Leven. Corona lockdown, more free time, social media and financial influencers...
Dr Christine Bortenlänger analyses in her article how the equity culture has developed over the past year. Overall, the equity culture has been robust despite Corona and Wirecard. To strengthen it further, however, a clear signal for...
The stock market world will also have to live with imponderables in 2021. In addition to Corona, six German state elections and the federal elections in September will provide sufficient excitement in the new year. If you want to relax...
We reject recent proposals to shorten trading hours on stock exchanges in the EU. From the point of view of publicly listed companies, shortening trading hours would restrict their ability to raise liquidity on capital markets for their...
In an extremely difficult stock market phase, the German day of the share ("Tag der Aktie") moves shares as an investment form into the limelight. Despite the current slump on the stock markets, the longer the investment horizon of a...
After two years of rising shareholder numbers, the positive trend came to a halt in 2019. In 2019 there were a total of around 9.7 million people in Germany who owned shares or equity funds. Compared to the previous year, almost 660,000...
In 2019, the number of share owners fell by around 660,000 people compared to the previous year, as the Deutsches Aktieninstitut states in its shareholder figures published today. The year 2019 thus represents a setback for German equity...
Deutsches Aktieninstitut has published its new Return Triangles. As the Return Triangles show, shares are always an attractive investment for asset accumulation in the long term. Deutsches Aktieninstitut therefore calls for shares to...
On World Savings Day, many children open a savings book for the first time. But the savings book is no attractive form of investment in the long run. The low interest rate policy means that Germans are losing assets in real terms. A...
The German government intends to abondon the recognition of total share losses for tax purposes. Deutsches Aktieninstitut strictly opposes this proposal as it, among others, contradicts different judgements provided by the Federal...
In a letter addressed to Federal Minister of Finance Olaf Scholz, Dr. Hans-Ulrich Engel, President of Deutsches Aktieninstitut, warns against the negative effects of the planned tax on shares for German economy and society. The tax on...
How do shareholders inform themselves? What are their preferences regarding dividend payments? Do they regard shares as instruments of wealth building? These and other related questions are analysed by this study which was prepared by...
Deutsches Aktieninstitut repeats its fundamental opposition regarding the proposal for a real estate transfer tax released by the Federal Minstry of Finance which harms badly stock listing of companies. At least it is of utmost...
Deutsches Aktieninstitut awards Friedrich von Metzler for his outstanding civic commitment and his commitment to the social market economy with the Meritum prize of the German Economy. The banker receives the honorary prize for his...
On the occasion of the day of shares, on March 18, Deutsches Aktieninstitut encourages savers to invest in shares or equity funds. Who seizes the opportunities of share investment can look forward to attractive returns. You only have to...
In 2018, the number of shareholders and investors in equity funds rose by 250,000. This is almost every 6th citizen. In total more than 10.3 million citizens or 16.2 percent of the Germans older than 14 years owned shares or equity...
In 2018, for the fourth time running the number of shareholders and equity funds holders has risen in Germany. The survey “Shareholding Statistics of Deutsches Aktieninstitut 2018" (in German) - published today - shows that on an annual...
In view of the downturn of share prices investors should not be getting nervous. On the long run shares have been and are attractive investments with manageable risk. This demonstrate the new Return-Triangles of Deutsches Aktieninstitut...
Misunderstandings, bad feelings and a significant level of desinterest prevent Germans from investing money into shares. Even historically low interest rates have not increased their interest in equity investments. This is the core...
The Survey of Börse Stuttgart and Deutsches Aktieninstitut reflects the attitude of the Germans on shares // Inspite of low interest rates great reservations // Personal experience creates positive attitude // Integration of share...
The return triangle for employee shares developed by experts of the hkp/// group calculates returns of, by way of examples, employee share ownership programs of the indices DAX, MDAX, TecDAX und SDAX, and for companies belonging to the...
At the day of shares the Deutsche Aktieninstitut reminds the public that with shares - permanently invested - you can earn good returns. It is important not be focused on the right timing of the investment but to invest in shares on a...
The Deutsche Aktieninstitut and EY have published the “Guideline for the implementation of employee share schemes” today. The Guideline describes the five phases of planning, designing, compliance, communication and administration and...
The number of shareholders and investors in equity funds rised signficantly by 1.1 million to over 10 million in 2017. This equals 15,7 percent of the German population in the age of above 14 years, so that the pre-crisis level has been...
In 2017 the number of shareholders and equity fund holders has risen significantly. On an annual average it was almost 1.1 million higher than in the previous year. In total more than 10 million citizens in Germany owned shares or equity...
Shares are profitable and therefore an attractive financial investment. That impressively illustrates the new “Return-Triangle” of Deutsches Aktieninstitut. It can be downloaded now at www.dai.de. The message is: Shares give good returns...
Deutsches Aktieninstitut welcomes the proposed BMF-regulation for a standardised key informations document for shares. In order to relieve share advisory in banks the requirements should strictly take into concern already existing...
With the „Berlin Appeal for more asset formation among employees” high-level representatives of the German economy and of trade associations call upon the future German government to create a better framework for employee equity...
In its comment on the national adoption of the Fourth EU-Anti-Money-Laundering Directive Deutsches Aktieninstituts asks for reliefs for the custody of employee shares.
Shares support the asset building of Germans and are indispensable for corporate finance. In its position paper for the German parliamentary elections, published today, Deutsches Aktieninstitut calls upon the political parties to include...
On share´s day Deutsche Aktieninstitut calls for more political commitment for share investments. Shares are an important element for asset building and the old age provisions of the citizens. Therefore it is essential to reduce...
In its position paper Deutsches Aktieninstitut asks the European Commission to include emloyee share ownership as a further action point in the Capital Markets Union project. It is necessary to scrutinise existing European legislation...
The number of shareholders and private investors in equity fonds has remained stable, as Deutsches Aktieninstitut notes in its study on the number of shareholders published today. In the annual average the number was just under nine...
The number of shareholders and investors in equity funds kept constant at 9 million in 2016. This equals 14 percent of the German population in the age of above 14 years. The high level of market volalitility in the first half of the...
Shares are profitable and are therefore an attractive financial investment. That impressively illustrates the new “Return-Triangle” of Deutsches Aktieninstitut. It can be downloaded now at www.dai.de. The message is: Shares give good...
At the autumn reception of Deutsches Aktieninstitut, held today in Brussels, Werner Baumann, President of Deutsches Aktieninstitut and CEO of Bayer AG, requested more support for Europe. Politics and economy had together to convince the...
At a conference of the Deutsches Aktieninstitut and the Global Equity Organization the Finance Minister of Hesse Dr. Thomas Schäfer and Hauke Stars, Member of the Executive Board of Deutsche Börse AG, discussed an increased employee...
This year the traditional reception of Deutsches Aktieninstitut took place at the Tropicarium of BAYER CropScience AG in Monheim. Besides Werner Baumann, President of Deutsches Aktieninstitut, Professor Dr. Axel Weber, Chairman of the...
Focus: Capital Markets Union
The Germans' confidence in shares has returned in 2015. The number of shareholders and investors in equity funds rised to 9 million which is the highest level since three years. This equals 14 percent of the German population in the age...
The number of shareholders and private investors in equity funds in Germany increased by 560.000 in 2015, as has been shown in a study of Deutsches Aktieninstitut on the number of shareholders published today. In total we have now well...
As the Return-Triangle of Deutsches Aktieninstitut shows, shares or equity funds are perfectly suited for wealth building. The updated version illustrating the development of prices and dividends in 2015 is available for download at...
In its comment on the proposal to reform the taxation of investment funds Deutsches Aktieninstitut states that disadvantages for the long-term wealth building and the corporate finance should be avoided.
Allocating assets partly into equities can help foundations to better serve their charitable objectives – not only at the currently low interest rates. This is a central result of a study of Deutsches Aktieninstitut and UBS Deutschland...
In its call for action “For an agenda employee share-ownership” published today, ten well-known German associations ask from politicians to improve the general framework of employee share-ownership and to speak up for more employee...
Misunderstandings, prejudices and uncertainties influence the relationship of Germans to share investments. This has been ascertained by a study of Deutsches Aktieninstitut and Stuttgart Stock Exchange, examining the attitude of Germans...
Focus: A New Start in Brussels
In 2014 about half a million people bid their shares or shares in funds farewell. Despite rising prices at the stock exchanges the number of share investors dropped the second year in a row. Only 8.4 million Germans, i.e. about 13...
The equity culture in Germany takes the second hit in row. In 2014 the number of sharholders and holders of equity funds declines by 500.000 - despite of rising share prices. Only 8.4 million Germans (13.1 percent of the population)...
Shares and equity funds promote wealth building of private households. This is demonstrated by the stock triangle of Deutsches Aktieninstitut, which visualizes the peformance of the companies of the DAX over the past 50 years. The new...
In its position paper “More enthusiasm for employee shares in Germany: Adequate Incentives – Less Obstacles” published today, Deutsches Aktieninstitut sees a need for politicians to engage more in the support of employee share-schemes....
As a result of the increasing regulation more and more banks refrain from providing investment advice for shares. This is the main outcome of a survey conducted among German credit institutions. Due to strict regulatory requirements 22...
At the annual reception of Deutsches Aktieninstitut today, Werner Baumann, President of Deutsches Deutsches Aktieninstitut, called for dropping ultimately the plans to introduce a financial transaction tax in EU.
The complete press...
The complete press release can be downloaded in German below.
Focus: Employee Participation
In 2013 there has been 600.000 people less investing in shares or equity funds compared to 2012 - a set back for the equity culture in Germany. This is a key result of the most recent issue of the shareholding statistics of Deutsches...
Last year 600.000 people less than 2012 were invested in shares or equity funds. This is the key finding of the most recent shareowner statistics of Deutsches Aktieninstitut. Only 8.9 million Germans placed private savings into shares or...
The financial transaction tax is an important agenda item for the franco-German consultations this week. Deutsches Aktieninstitut calls for refraining from the tax as it would seriously harm the real economy and private investors.
The...
The study provides the results of asurvey among morethan 400,000 retail investors of Deutsche Post DHL. Answers to the following questions are given: What sources of information do retail investors use? Do they preferdividends or...
The complete press release in German is available for download below.
Deutsches Aktieninstitut released recommandations for the coaltion talks between CDU, CSU and SPD. It was stressed that the functioning of capital markets should be retained and improved. An adequate regulatory framework is decisive that...
In the first half of the year 2013 the number of direct shareholders has increased by 7.1 percent. Compared to 2012 additional 323.000 people have decided to invest in shares, so that there are now 4.9 million direct shareholders in...
In the first half of the year 2013 the number of direct shareholders has increased by 7.1 percent. Compared to 2012 additional 323.000 people have decided to invest in shares, so that there are now 4.9 million direct shareholders in...
Private investors and the real economy in Germany would be charged with costs ranging from 5.0 to 7.3 billion Euros if the financial transaction tax entered into force. This is the key-finding of an impact study conducted by Deutsches...
Deutsches Aktieninstitut congratulates to 25 year of DAX: The most famous German stock index does not only visualize the performance of the listed companies, but is an indicator for the development of the German economy as a whole.
...The financial transaction tax will cause massive burden for the real economy. In an analysis Deutsches Aktieninstitut calculated the impacts of the new tax on 24 large German companies. Even under conservative assumptions the estimated...
