Assets in collective investment trusts saw a double-digit increase in 2016, rising to $2.8 trillion at the end of 2016—an 11.8 percent increase year over year from 2015.

That's according to Cerulli research, which also finds that increased interest from institutional investors is driving the rise—thanks in part to the lower fees charged by CITs. And the interest is pushing asset managers to boost CIT offerings.

According to the report, the leading priority among managers' product-related initiatives is building out new vehicle offerings. And for managers that don't currently offer CITs, 86 percent are currently considering offering them, with the remaining 14 percent indicating they have formal plans to build them during the next 12 months.

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