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New study shows fund managers are eyeing overseas markets for capital growth
Invest
New study shows fund managers are eyeing overseas markets for capital growth
A recent study conducted by Carne Group, a prominent figure in the fund regulation and governance solutions sector for the asset management industry, has highlighted a significant shift in the strategies of fund managers towards overseas markets for capital raising.
New study shows fund managers are eyeing overseas markets for capital growth
A recent study conducted by Carne Group, a prominent figure in the fund regulation and governance solutions sector for the asset management industry, has highlighted a significant shift in the strategies of fund managers towards overseas markets for capital raising.
According to the study, a vast majority, approximately 96%, of alternative asset, equity, and fixed income fund managers from ten countries, managing a collective $1.6 trillion, have revealed their intentions to focus more on international markets to raise capital in 2024.
In an intriguing development, nearly 18% of US fund managers surveyed indicated their plans to raise capital in Continental Europe for the first time this year, with this number rising to 30% among UK fund managers. Furthermore, 34% of US fund managers have expressed their intentions to seek funding in the UK for the first time. On the European front (excluding the UK), 33% of fund managers surveyed indicated their plans to raise capital in the UK within the next 12 months, a move facilitated by the UK Government’s recent declaration that EU states are now equivalent to the UK under its Overseas Funds Regime, allowing EU UCITS funds to be marketed to UK retail investors.
The survey also forecasted a substantial increase in fundraising activities across various sectors of the fund management industry in 2024 compared to 2023. A considerable 83% of fund managers anticipate an upswing in real estate fund managers' fundraising levels in 2024. Similarly, 78% expect private equity funds to raise more capital this year than the previous one, with the figures for private debt and hedge funds standing at 66% and 56% respectively.
John Donohoe, CEO at Carne Group, commented on the findings stating, "2024 looks like it will be a very busy year for fund managers raising capital. Our research shows that many are looking to focus on new markets to do this, and they will use a number of channels to help raise capital." He further elaborated on the potential of established fund hubs like Luxembourg and Ireland, noting they "are already well-established fund hubs for UCITS and alternative investment fund (AIF) structures. These European funds are also effective structures to raise capital from UK, APAC, and Middle Eastern investors."
The data underscores the burgeoning trend among fund managers to explore new territories for capital opportunities, particularly in Europe, while also reflecting a broader anticipation of growth across various sectors of the fund management industry in the coming year.
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