Envestnet Launches First Research-Approved List of Interval Funds

Envestnet has released its first list of interval funds approved by its manager research team, extending the same due diligence framework the firm uses for SMAs, mutual funds, ETFs and strategist portfolios. The move builds on Envestnet’s March 2026 rollout of interval fund availability within its Unified Managed Account platform, where advisors can manage account administration, trading, rebalancing and tax management in one place.

Envestnet PMC said the approved list reflects a structured review process that evaluates a fund manager’s track record, asset base, portfolio construction, liquidity terms, valuation methodology, fees and risk/return expectations before a fund earns research coverage. The firm said it will continue to selectively expand the approved interval fund lineup as more products clear its research process.

Todd Rais, head of investment products and services at Envestnet, said interval funds are still a relatively new wrapper, making advisor due diligence especially important for private markets exposure. Dana D’Auria, co-chief investment officer and group president of Envestnet Solutions, said the goal is to make private markets “easier to implement operationally” and “easier to evaluate.”

Envestnet pointed to Cambridge Associates data showing that the performance spread between top-quartile and bottom-quartile private equity managers can be about 12.9 percentage points, versus 1.5 percentage points in public equities, underscoring the importance of manager selection.

The PMC process begins with an initial screen for minimum track record and asset levels, then moves into deeper monitoring that includes site visits, annual questionnaires and periodic research notes. Analysts also examine sourcing, deal flow, valuation practices and fees before the team debates and votes on a final report.