logo FS

III Annual Report

Asset Securitization
Sector 2025-2026

Key perspectives and trends for asset managers

FlexFunds, in collaboration with Funds Society, presents the third edition of its annual report, consolidated as a benchmark to understand the direction of asset management through securitized vehicles.

A comprehensive analysis based on the opinions of professionals from more than 100 companies in the sector, covering Latin America, the United States, and Europe.

Download here

2025-26 Innovation:

IRISK, the new FlexFunds index

This edition introduces the IRISK index, an exclusive tool that measures the level of risk exposure institutional managers are willing to assume in their portfolios.

IRISK makes it possible to anticipate strategic portfolio moves and provides a comparative view of the risk environment in which global institutional players operate.

What will you find in this report?

  • Macroeconomic variables that will shape investment decisions in 2025-2026.
  • Growing use of ETPs as a strategic vehicle in international markets.
  • Current challenges in raising capital
  • Comparative view between separately managed accounts (SMAs) and collective investment.
  • Launch of the IRISK index, a barometer of institutional risk exposure levels.
Download here

Main insights from the report

89% of respondents assign high importance to flexibility in the face of environmental changes, suggesting a shift from the classical paradigm toward more liquid, diversified, and disruption-ready strategies.
Over 75% of participants recognize that digital transformation and cybersecurity play a decisive role.
The report emphasizes the renewed prominence of alternative assets. The search for diversification and protection against volatility has driven interest in assets such as private equity, infrastructure, real estate, and thematic funds related to AI or the energy transition.
Asset securitization re-emerges as a relevant tool, valued for its ability to mobilize illiquid assets, free up balance sheets, and facilitate new forms of financing.
A hybrid management model is prevailing, with separately managed accounts (SMAs) for sophisticated clients and collective vehicles (such as ETFs/funds) for efficiency and scalability.
Download here

Key benefits of the 2025 report

Icon 1

Consolidated view of the institutional market

Based on surveys of more than 100 asset managers across Latin America, the United States, and Europe, the report provides a broad and reliable perspective of the sector’s real dynamics.

Icon 2

Launch of IRISK, the first risk exposure index

A pioneering tool that helps anticipate strategic adjustments in asset management according to the economic environment and the risk profile of key market players.

Icon 3

Identification of key challenges in raising capital

Highlights the structural, regulatory, and operational barriers institutional managers currently face in distributing securitized assets.

Icon 4

Trends in collective investment vehicles

Confirms the growing preference for ETPs and ETFs as efficient, scalable, and liquid instruments, compared to more traditional models such as separately managed accounts (SMAs).

Icon 5

Practical relevance for decision-making

The content provides not only analysis but also actionable insights applicable to the structuring, management, and distribution of investment vehicles adapted to today’s context.

Some companies that participated

Logo Cucchiara 1
Mason 1
Dentons 1
harneysfiduciary 1
Group 1
IS logo 1
LS logo 1
AV 1
ventum bw
CIX 1
BBVA 1
fynsa bw
Logo Allaria 1
blacksalmon 1
logo FLEXFUNDS positivo

We offer our services under Global Note Programs through various entities that carry out different activities. Among them are FlexFunds ETP LLC (“FlexFunds ETP”), which acts as Calculation Agent, and FlexFunds Ltd. (“FlexFunds Ltd”), which acts as Program Coordinator. Before making a decision to invest in the Global Note Programs, the following should be considered:

  • Independent entities: FlexFunds ETP and FlexFunds Ltd. are not the special purpose vehicle administrators, collectively (“the Issuers”), responsible for issuing Notes under the Global Note Programs (“the Notes”). Each company’s business and activities are different, although all are interdependent and necessary for the Global Note Programs.
  • Coordinated activities: FlexFunds ETP and FlexFunds Ltd. act as coordinators of the various entities involved in the Global Note Programs (e.g., Issuers, asset managers, investment vehicles, issuing and paying agents, auditors, administrators, and legal representatives of each). However, each entity is responsible for its own obligations and activities throughout the process.
  • We are not a Broker-Dealer or Investment Adviser. Neither FlexFunds ETP nor FlexFunds Ltd. are broker-dealers registered in the United States or investment advisers registered with the US Securities and Exchange Commission. Our entities do not raise funds for clients or Issuers. We do not solicit specific products, nor do we provide investment advice or make investment recommendations, nor do we provide tax, legal, financial, or other types of advice.

Âİ 2025 FlexFunds – 800 Brickell Ave., Suite 1107 Miami, FL 33131, USA – + 1 305 420 6168

Download our Ebook

Download our Ebook

Download our Ebook

FlexDual Portfolio Details

Dual Custody: Securitizes a strategy with listed assets in a Bank of New York & Interactive Brokers accounts

Applications

  • Bankability: Global distribution of a strategy
  • Centralized managed account
  • Fund creation alternative
  • Custody of locally listed bonds
  • Design a mixed investment strategy of fixed income, equities, and derivatives

Advantages

  • Trading and custody platform with available leverage
  • Efficient subscription through Euroclear
  • Actively managed by a Portfolio Manager
  • No limitations on rebalancing or portfolio composition
  • Cost efficient
  • Flexibility in the choice of executing broker for underlying trades

FlexRegulated Portfolio Details

Securitizes a strategy with listed assets in an Interactive Brokers account targeting institutional and retail investors

Applications

  • Global distribution of a strategy
  • Centralized managed account
  • Regulated fund creation alternative

Advantages

  • Trading and custody platform with available leverage
  • European UCITs compliant
  • Market to institutional and retail investors
  • Actively managed by a Portfolio Manager
  • Market maker as part of the solution
  • Low value tickets
  • Cost efficient

FlexOpen Portfolio Details

Securitizes a strategy with listed assets in any custodian account

Applications

  • Global distribution of a strategy
  • Centralized managed account
  • Regulated fund creation alternative

Advantages

  • Manage portfolios from any major custodian
  • Introducing Broker Dealers maximize revenue from own trading fees structure
  • AUM remain on the introducer broker agreement
  • Efficient subscription through Euroclear
  • Actively managed by the Portfolio Manager
  • No limitations on rebalancing or portfolio composition
  • Cost efficient

FlexPortfolio Details

Securitizes a strategy with listed assets in a Bank of New York or Interactive Broker custodian account

Applications

  • Global distribution of a strategy
  • Centralized managed account
  • Fund creation alternative
  • Custody of locally listed bonds

Advantages

  • Efficient subscription through Euroclear
  • Actively managed by a Portfolio Manager
  • No limitations on rebalancing or portfolio composition
  • Cost efficient
  • Flexibility in the choice of executing broker for underlying trades
Logo All RGB FF Logo FF Pos H

Welcome to FlexFunds

We provide our services under the Global Note Programs through several entities that perform different activities. Among these entities are FlexFunds ETP LLC which acts as Calculation Agent, and FlexFunds Ltd, which acts as the Program Coordinator. Before making a decision to invest in the Global Note Programs, you should consider the following:

  1. Independent entities. FlexFunds ETP and FlexFunds Ltd. are not managers of the special purpose vehicles, collectively, responsible for the issuance of Notes under the Global Note Programs.
  2. Coordinated Activities. FlexFunds ETP and FlexFunds Ltd act as coordinators of the different entities participating in the Global Note Programs. However, each of the entities is responsible for its own duties and activities in the process.
  3. Not Broker-Dealer or Investment Adviser. Neither FlexFunds ETP nor FlexFunds Ltd. is a U.S. registered broker-dealer or an investment adviser registered with the U.S. Securities and Exchange Commission. Our entities do not raise capital for clients or the Issuers. We do not solicit any specific products, nor offer investment advice or make investment recommendations, nor do we offer tax, legal, financial advice or otherwise.

FlexFunds ETP may collect data about your computer or device, including, where available, your IP address, operating system and browser type, for system administration and other similar purposes.

Settings
I agree
Logo All RGB FF Logo FF Pos H
Privacy Overview

Welcome to FlexFunds

We provide our services under the Global Note Programs through several entities that perform different activities. Among these entities are FlexFunds ETP LLC which acts as Calculation Agent, and FlexFunds Ltd, which acts as the Program Coordinator. Before making a decision to invest in the Global Note Programs, you should consider the following:

1. Independent entities.FlexFunds ETP and FlexFunds Ltd. are not managers of the special purpose vehicles, collectively, responsible for the issuance of Notes under the Global Note Programs.

2. Coordinated Activities.FlexFunds ETP and FlexFunds Ltd act as coordinators of the different entities participating in the Global Note Programs. However, each of the entities is responsible for its own duties and activities in the process.

3. Not Broker-Dealer or Investment Adviser.Neither FlexFunds ETP nor FlexFunds Ltd. is a U.S. registered broker-dealer or an investment adviser registered with the U.S. Securities and Exchange Commission. Our entities do not raise capital for clients or the Issuers. We do not solicit any specific products, nor offer investment advice or make investment recommendations, nor do we offer tax, legal, financial advice or otherwise.

FlexFunds ETP may collect data about your computer or device, including, where available, your IP address, operating system and browser type, for system administration and other similar purposes.