Investment funds can be set up anywhere in the European Union if they meet the requirements in accordance with EU directives, i.e. UCITS which are theoretically free market in other EU countries. For further registration or free recognition process, it is necessary to meet the requirements of host countries. Here are the regulatory bodies selected group of countries in the context of the responsibility for the establishment of investment funds. The United States is the largest domestic market investment funds whose share at the end of 2013 years were about 45% market share. At the end of 2015, the share of investment funds in the total structure of the financial system in Bosnia and Herzegovina amounted to only 2.95%, which shows how undeveloped capital markets and low awareness in this business segment.