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ANREV / INREV Funds of Funds Study 2022

The performance of funds of funds improved significantly last year, with returns growing to the highest level since the study began 15 years ago. As a group, funds of funds achieved a total return of 12.4% in 2021, compared to 1.7% in 2020, driven by the industry’s post-pandemic recovery. 

Key highlights include:

  • Of the investors targeting Europe, 7.0% are expected to increase their allocation to fund of funds in 2022, compared to 1.7% in 2021
  • Assets under management (AUM) by funds of funds surged to a record high of €52.6 billion demonstrating a year of increased investor appetite for the segment
  • 2021 saw an increased spread upwards as several funds of funds reported exceptionally strong performance
  • In 2021 non-core funds of funds outperformed core funds of funds, with total returns of 14.4% and 12.3%, respectively
  • Funds of funds with a global strategy account for the largest share of the Universe, representing 77% of the total by number, and 95% of the total NAV

Press release

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