Deloitte survey finds 4% of RIC fund groups update unobservable fair-value inputs daily

Only 4% of registered investment company fund groups perform a daily fair-value update that revisits unobservable inputs, cash-flow assumptions and methodology, according to Deloitte's 24th Fair Valuation Pricing Survey.

The survey, released Oct. 8, 2026 and conducted in summer 2026, drew responses from 95 RIC fund groups, InvestmentNews reported. It found that 48% refresh fair valuations daily using observable market inputs.

The largest share of respondents, 39%, performs the full-judgment update only quarterly, rather than daily.

Private-market exposure across the survey group keeps rising, with 51% of participating fund groups holding private equity and 33% holding private credit, up from 21% reporting private credit in 2023. Forty-six percent reported growth in private equity positions over the past 12 months, against 26% in 2025, and 59% said they are actively purchasing private equity investments in their funds, up from 50% the prior year.

Nearly 60% of participants said they had recently launched an alternative fund product, and 55% of that group named projected future growth and marketing advantage as the primary rationale. InvestmentNews ties the need for current, defensible marks to advisors expanding client exposure to interval funds, business development companies and tender-offer funds.

"Private-market investing is entering a more complex phase as fund groups respond to investor demand, evolving products, and increasing regulatory attention," said Paul Kraft, investment management marketplace excellence leader and lead partner at Deloitte & Touche LLP. The survey, he said, highlights the importance of pairing innovation — including daily pricing and artificial intelligence — with "disciplined governance, independent challenge, and human-led oversight."