The 2026 edition of the ALFI-Broadridge study on cross-border fund distribution provides a comprehensive analysis of the latest trends shaping the international distribution of UCITS and other cross-border fund vehicles.
The study concludes that cross-border assets increased to 8.5 trillion euros in 2025, with a record 16% now coming from outside Europe. Luxembourg continues to lead the global cross-border fund landscape, representing 42% of worldwide cross-border assets under management. The report highlights how the industry is becoming increasingly global, concentrated, and competitive, driven by scale, the growth of ETFs, and evolving investor preferences.
After Europe, the Asia-Pacific (APAC) region continues to be the fastest growing, with Hong Kong, Singapore, and Taiwan driving demand for cross-border products. Meanwhile, markets in the Middle East, Africa, and Latin America are showing growing adoption of UCITS structures, reflecting sustained confidence in European regulatory standards and investor protection frameworks.
The report also points to a clear shift in investor behavior. Although exposure to North American equities remains significant, investment flows are increasingly favoring broader diversification, including European and emerging market equities. At the same time, new themes linked to geopolitical resilience, security, and defense are gaining traction, particularly through ETFs. Product innovation also continues to accelerate, with new fund launches closely aligned with evolving investor demand.
Britta Borneff, Chief Marketing Officer at ALFI, stated: “Cross-border distribution is entering a new phase of maturity and internationalization. Luxembourg continues to play a central role, supported by its strong regulatory framework, deep international expertise, and robust distribution infrastructure. As investor demand evolves and markets become more complex, the ability to deliver trust, innovation, and operational efficiency at scale will become increasingly important.”
Nigel Birch added: “The cross-border industry continues to demonstrate its resilience and global relevance. Investor demand is broadening geographically and becoming more selective, while scale and passive investing continue to redefine the competitive landscape. In this environment, high-quality market intelligence is essential to understand where flows are heading and which long-term trends are emerging.”
ALFI and Broadridge will present the study’s conclusions during a webinar on May 28, 2026, at 10:00 CET.
