Envestnet Introduces List of Interval Funds Approved by Manager Research Team

Due diligence on interval funds helps advisors navigate private markets with greater confidence, clarity, and risk awareness

BERWYN, Pa., July 16, 2026 /PRNewswire/ -- Envestnet, the leading Adaptive WealthTech company, has released its first list of research-approved interval funds, which have undergone the firm's rigorous due diligence process by the manager research team at Envestnet PMC. This marks an important expansion of Envestnet's alternative investment capabilities.

Not only are a growing list of interval funds available through Envestnet's Unified Managed Account (UMA) platform, but the firm's manager research team will cover and selectively expand an approved list of interval funds, just as it does for separately managed accounts (SMAs), mutual funds, exchange-traded funds (ETFs), and fund strategist portfolios. Advisors now have access to private market investments and independent research which can help them evaluate interval funds directly within the Envestnet ecosystem.

Envestnet first announced the accessibility of what would become a growing list of interval funds through its UMA platform in March 2026.  As part of this offering, the firm provides account administration, trading, rebalancing, and tax management capabilities. Building on this milestone, Envestnet PMC has undertaken the same structured due diligence process for evaluating interval funds as it does for other investment vehicles. The resulting research helps advisors better understand manager quality, portfolio construction, liquidity constraints, valuation methodologies, expenses, and risk/return expectations before committing client capital to funds that merit PMC research coverage. Access to the approved list of interval fund names is available to advisors at no additional cost.

"Interval funds are a relatively new investment vehicle wrapper, and advisors and investors placing money into these products for private markets exposure understandably need assurances that everything looks good, and that risks or concerns are addressed," said Todd Rais, Head of Investment Products and Services at Envestnet. "Private markets can offer attractive income and diversification benefits, but manager selection matters immensely. Unlike public markets, where performance differences between managers can be relatively narrow, private market returns can vary significantly from one manager to another. We can provide value by helping advisors identify managers with a higher potential to outperform their peers while understanding the risks – empowering them to make more informed decisions."

Cambridge Associates data^[i] shows performance between top-quartile and bottom-quartile private equity managers can differ by approximately 12.9 percentage points, nearly nine times the 1.5 percentage-point dispersion observed in public equities, highlighting why manager selection is one of the most important drivers of private market outcomes. With this in mind, the PMC due diligence process begins with an initial review of an interval fund manager's minimum track record and asset levels, followed by more in-depth analysis and monitoring which encompasses on-site visits, annual questionnaires, and periodic research notes. The team investigates a manager's fees, sourcing, valuation, deal flow, and other relevant factors. Team members then debate and vote on the final analysis report for each manager.

"It's important you invest with the right manager if you're going to invest in private markets, but most interval funds have short track records. Our deep-dive analysis examines the longer track records of managers and gives advisors the confidence to know what to expect in terms of liquidity restraints and risk/return expectations before they commit client dollars," said Dana D'Auria, CFA, Co-Chief Investment Officer and Group President, Envestnet Solutions. "We are making private markets easier to implement operationally, but just as importantly, easier to evaluate."

More than 80% of companies with revenues exceeding $100 million are privately held^[ii]. Investor demand for access to private market exposure continues to grow, as Cerulli data^[iii] shows advisor allocations to less than fully liquid private market strategies are expected to rise from roughly $1.9 trillion last year to $3.7 trillion by 2029. At the same time, the interval fund market has expanded rapidly, from roughly $75 billion in 2020 to approximately 160 funds representing more than $300 billion in assets today^[iv]. The confluence of these factors underscores the crucial need for independent due diligence, manager evaluation, and ongoing monitoring.

Envestnet's goal is to help advisors access, implement, research, trade, and monitor private market investments through a single, integrated experience that offers the same discipline and oversight they expect from traditional investments.

To learn more about Envestnet PMC manager research for the interval funds available on the Envestnet platform, please reach out to your Envestnet relationship manager. Additional clarity on the complexities of interval funds, and other alternative investments, can be accessed via Envestnet's Alternatives Research Center: https://go.envestnet.com/Unlocking-Alts-with-Envestnet.

About Envestnet

Envestnet is the leading Adaptive WealthTech company that helps advisors meet the moment with its comprehensive technology, insights, and industry-leading support. This empowers advisors to make smart decisions throughout every step of a client's financial life. Backed by 25 years of experience and $7.0 trillion in platform assets, Envestnet is trusted by over a third of all financial advisors across many leading banks, wealth managers, brokerages, and RIAs.

For a deeper dive into how Envestnet is shaping the future of financial advice, visit www.envestnet.com. Stay connected with us for the latest updates and insights on LinkedIn and X (Envestnet_).

Envestnet refers to the family of operating subsidiaries of the holding company, Envestnet, Inc. 

Interval funds expose investors to liquidity risk. Due to their structure, an investor may only redeem shares during scheduled repurchase windows and may only be able to sell a certain percentage of the shares requested to be repurchased. As a result, this type of product may not be suitable for investors with short-term investing goals or a need for frequent or immediate liquidity. Investors should refer to the fund's prospectus for specific information about redemptions, repurchase offers, fee structures, and the material risks associated with this type of product.

Envestnet provides administrative, technical and operation services to support the use of LTW Funds in investment models on the Envestnet platform, and receives additional compensation for these services. For more details on PMC's research practices and/or portfolio attributes, please contact [email protected] or call 1-888-612-9300. Advisors should always conduct their own research and due diligence on investment products and the product managers prior to offering or making a recommendation to a client.

^[i] Cambridge Associates, Private Equity Performance Data - "Performance dispersion appears wider in private markets than in public equities. Data shows top-quartile and bottom-quartile private equity funds demonstrate performance spreads of approximately 12.9 percentage points compared to roughly 1.5 percentage points for public equity funds." https://www.nasdaq.com/articles/analytics/asset-manager-selection-guide

^[ii]  "Public markets are a shrinking part of the US economy," Apollo Global Management, February 2026

^[iii] Cerulli Associates, Sept. 30, 2025. "Private Markets Retail Assets to Reach $3.7 Trillion Through 2029." https://www.cerulli.com/press-releases/private-markets-retail-assets-to-reach-3.7-trillion-through-2029 

^[iv] https://xainvestments.com/insights/interval-fund-daily-observations-2/

SOURCE Envestnet