Among the top ten per cent of income earners in Germany, 46% of households hold mutual fund units and 32% own shares, the middle twenty per cent of earners report holdings of just 22% and 8% respectively, while the bottom twenty per cent have equity holdings of just 11% and 2% respectively. Households’ wealth shows a similar picture.
Naturally, wealthy households are clearly in a much better position to follow the maxim of only investing money in the stock market that you do not need in the short term. Yet that does not mean that direct shareholdings and mutual fund investments are the preserve of the rich.