According to the latest issue of “Fokus Nachhaltigkeit” published by the German Investment Fund Association (BVI), environmentally or socially sustainable mutual funds and special-purpose funds (Articles 8 and 9 of the EU Sustainable Finance Disclosure Regulation, SFDR) in Germany collectively managed 1,491 billion euros as of the end of June. That amounts to 110 billion euros, or just under 8 percent more than at the end of 2025. However, this is primarily due to the positive performance of the capital markets—net inflows of new customer funds totaled only 4 billion euros. The main reason is the increasingly stringent regulations, which no longer allow “green funds” to invest in many asset classes, and which also make these products more confusing and harder for customers to understand…