Bermuda’s investment fund sector continued to grow in the fourth quarter of 2025, with total assets rising to about $315 billion, even as the overall number of funds declined, according to the latest statistics from the Bermuda Monetary Authority.

Total net asset value increased 1.57 per cent from the previous quarter, up from $310.5 billion in Q3, continuing the gradual upward trend seen through the year. Meanwhile, the number of funds fell to 766, reflecting what the regulator described as normal lifecycle activity, with new registrations offset by funds closing or being removed from the register.

While the number of funds fell during the quarter, assets continued to rise. This is a trend that suggests capital is increasingly concentrating in larger investment structures rather than new fund launches. Professional closed funds remained the largest segment of the market, with assets climbing to about $78.6 billion, while private funds declined in both number and assets.

Standard funds also recorded gains, with assets rising to about $78.8 billion, compared with $76.6 billion in Q3.

Institutional funds saw one of the more notable increases, with assets climbing to about $64.3 billion, from $61.2 billion in the prior quarter.

By contrast, private funds declined both in number and in assets during the quarter. The number of private funds fell to 179, down from 184 in Q3, while total assets dropped to about $40.3 billion, from $43.0 billion.

Other fund categories saw limited movement in the number of structures. Institutional funds declined marginally to 139, from 141 in the previous quarter, while standard funds edged down to 75, from 76.