IOSCO/MR/01/2023 – Madrid, 27 January 2023
The Board of the International Organization of Securities Commissions (IOSCO) today published the second edition of the Investment Funds Statistics Report (IFSR), which provides new insights into the global investment funds industry. The report is based on a comprehensive collection of IOSCO members’ supervisory data as of end-2021.
The IFSR is an annual exercise that aims to facilitate the regular collection and analysis of investment fund data, enabling regulators and stakeholders to share information and observe trends in the global investment funds sector. It builds on the foundations of IOSCO’s previous biennial Hedge Funds Survey.
Last year, IOSCO published the first edition of the IFSR. This year’s report updates the analysis with new data and, for the first time, provides trend analysis on open-ended funds and closed-ended funds. In summary, this edition of the report observes that:
- Leverage levels across investment funds are similar to those of the previous year, with some variations depending on the type of fund. For example, reported metrics suggest declines in the leverage of hedge funds;
- At an aggregate level, hedge funds’ portfolio liquidity appears to exceed considerably the liquidity normally offered to investors;
- Similar to last year, open-ended funds are not highly leveraged in terms of both derivatives use and financial leverage; and
- Open-ended funds’ portfolio liquidity as reported appears managed in line with the liquidity normally offered to investors