Comprise both retail and institutional funds (open-end and closed end) in which investors pool their funds to invest in a diversified portfolio of securities. It includes mutual funds, investment funds, UCITS-like funds, exchange-traded funds (ETFs), and specialised funds such as real estate funds (e.g. REITs), money market funds, debt funds. CIS funds may be listed or unlisted. Hedge funds and private equity funds are not be included in this category.

The pool of assets forming an independent legal entity that are bought with the contributions to a pension plan for the exclusive purpose of financing pension plan benefits. The plan/fund members have a legal or beneficial right or some other contractual claim against the assets of the pension fund. Pension funds take the form of either a special purpose entity with legal personality (such as a trust, foundation, or corporate entity) or a legally separated fund without legal personality managed by a dedicated provider (pension fund management company) or other financial institution on behalf of the plan/fund members.

This is the indicator for asset allocation and is expressed as a percentage of total assets. Asset allocation data can be used to assess the extent of diversification of investments.