Interval Fund Market: 2018Q3 Update

  • Net assets in the interval fund sector have increased 50% in the past year. The majority of growth is concentrated in the largest funds.
  • BlackRock filed an initial registration statement, joining PIMCO, Blackstone, Nuveen, and several other major asset managers in providing an interval fund solution. BlackRock’s interval fund will implement a diversified credit strategy.
  • Detailed competitive intelligence on fund structures and investment strategies is available through Interval Fund Tracker’s premium data product.

Interval Fund Asset Growth

Interval fund asset growth accelerated slightly in 2018Q3. Total interval fund net assets equalled $26.2 billion as of the most recent public filings, up 50% compared to the prior year, and 13% compared to the prior quarter.

Although new entrants are gaining share, interval fund assets remain highly concentrated. The five largest alone account for 65% of total net assets. Click here for AUM data on active interval funds.

Note All data in this post is based on SEC filings available as of October 1, 2018, unless otherwise indicated.  To access data and code behind this article, see Interval Fund Tracker’s Bitbucket repository.

Fastest Growing Interval Funds

Thirty-six active interval funds reported net asset growth in the most recent quarter, twelve reported a decrease. Additionally, eight recently launched funds have still not yet filed their first financial statements. In general, large asset managers continue to dominate fundraising. The following list shows the ten fastest growing interval funds, based on net asset growth in the most recent reported quarter.