Our Research

The Investment Funds Association collates the insights of legal counsel with an understanding of the legal and regulatory environment of the funds industry.

We provide governments and regulators with:

  • Analysis of their regulatory regimes in comparison to other jurisdictions
  • Ideas for improvements or innovation of the funds industry.
  • We also act as a network for fund counsel to share best practice and to remain connected to the latest developments in the market.

Key stats and figures

651 New asset managers launched in 2023
13 Key funds jurisdictions
ADGM, British Virgin Islands, Cayman Islands, Delaware, DIFC, England, Guernsey, Hong Kong, Ireland, Jersey, Luxembourg, Malta, Singapore
34,860 Solicitors employed outside of private practice in the UK
As at 31 July 2022
Sources: McKinsey & Company, The Law Society

Private Funds Enter a New Chapter

The private capital markets as a whole have faced significant fundraising pressures in the wake of volatile public markets shifting investors’ allocations away from the sector.

The squeeze on capital raises has driven many of the larger market participants to diversify by acquiring specialist managers. The first half of 2023 saw a 5.5% increase in deal volume for M&A in the investment management space when compared to the same period in 2022.

Many managers have also sought to access previously untapped sources of capital through retailisation, with a renewed focus on marketing towards high-net-worth individuals.

The recent shift to a non-zero interest rate environment has prompted many managers to explore alternative means to dispose of assets whilst driving the costs of borrowing up.

Investment managers will continue to try to leverage nascent opportunities in technology, such as generative AI, to deliver the efficiency and competitive edge over the public markets.

In spite of these challenges facing the market, private capital remains a growth industry representing more than half of the revenues of the wider investment management industry.

Sources: Preqin and Marquette Associates, Deloitte Center for Financial Services Analysis; LSEG Eikon, Boston Consulting Group

Research is available to our members and to government agencies and regulators on request.

Our Members

Our membership consists of leading fund counsel representing some of the largest asset managers in the industry. If you would like to know more or have any questions please contact us.