Inflows to mutual funds are increasing, with the result that their assets at the end of the nine months January-September 2025 will be 28 billion euros, i.e. at the highest levels since the end of 2004.

The mutual funds market has been growing steadily since 2018, with the total market having grown by €22 billion and now standing at €28 billion, from €6.1 billion at the end of 2018. In 2025 alone, more than €4 billion of hot money has flowed into mutual funds. It should be noted that the worst performance was recorded in 2012 with 5.9 billion and in 1022 with 5.2 billion euros.

At the same time, the total amount of funds under management in the institutional management sector is increasing steeply and at the end of the third quarter of 2025 it exceeded 47 billion euros, increased by 5.43% from the previous quarter and 19.93% from the end of 2024.

During the same period in the Asset Management sector, there was an increase in funds under management by 5.66% from the previous quarter and 18.01% from the beginning of the year to Euro12.4 billion, including the institutional portfolios of Professional Insurance Funds under management for ETH members.

Fund flows to O.S.E.K.A. (Organizations for Collective Investment in Transferable Securities) that manage Greek A.E.D.A.K. continued their upward trajectory in the third quarter of 2025 and reached €1.33 billion, with total YTD inflows of €4.23 billion.

Positive flows are mainly concentrated in International Bond ETFs, with inflows of 2.59 billion since the beginning of the year. In particular, capital inflows were recorded in the O.S.E.K.A. with a specific maturity date -Target Maturity Funds- with new funds from investors who choose this category for the possibility it gives to generate regular income. Significant capital inflows since the beginning of the year have also been recorded in the O.S.E.K.A. Bonds. Greece 432 million euros.

With returns on mutual fund-friendly positions and especially low returns on deposits, many savers are turning to mutual funds, with equity funds recording the highest returns

On the returns front, the highest returns were recorded in the following categories:

-Shareholders O.S.E.K.A. Rate 44.10%

-Shareholders O.S.E.K.A. Greece 37.17%

-Shareholders O.S.E.K.A. Eurozone 12.06%

-Mixed O.S.E.K.A. 11.51%

-Shareholders O.S.E.K.A. International 10.06%

The assets of the Alternative Investment Organizations (O.E.E. and A.E.E.X.), which are managed by members of the A.E.T.E., amount to Euro 771 million, including Private Equity portfolios of over Euro 500 million.

In the A.E.A.P. sector, the positive course continues with the total investment in real estate as of 30.06.2025 (latest published data), increased by 7.53% to Euro5.93 billion compared to 30.06.2024 and 0.19% compared to 31/12/2024.

The composition of the total fund market at the end of September this year was as follows: 52% in Bonds, 16% in Mixed a/c, 14% in Equity a/c, 9% in Funds of Funds, 5% in money market a/c and 4% in composites.

The AEDAKs with the largest assets at the end of September were the following: Eurobank AEDAK (25.23% market share), Alpha AEDAK (21.82% share), Piraeus AEDAK (20.32% share) and Ethniki AEDAK (15.79% share).

The course of the A/C market

(amounts in billion euros)

2025 28.0

2024 22.1

2023 15.8

2022 10.9

2021 11.1

2020 8.1

2019 7.9

2018 6.1

2017 6.7

2016 6.4

2015 7.2

2014 6.1

2013 6.3

2012 5.9

2011 5.2

2010 8.1

2009 10.7

2008 10.4

2007 24.5

2006 23.9

2005 27.9

2004 31.6

2003 30.4

2002 25.4