Nearly all North American fund managers currently find E.U. regulations complex and predict they will only find it harder to navigate over the next two years — with many saying the region is over-regulated to the point of being off-putting, according to a survey from Ocorian.

Ocorian’s study with private equity, private debt, real estate, venture capital and infrastructure fund management executives in the United States and Canada responsible for $1.591 trillion assets under management found almost all (99 percent) view the current E.U. regulations as complex in comparison to their home jurisdictions. Over a third (37 percent) of these say they are extremely complex.

Almost eight in 10 (79 percent) North American fund managers questioned expect the European regulatory landscape to evolve over the next two to three years, with more than one in 10 (11 percent) expecting a dramatic increase. Just one in five (19 percent) believe it will stay the same. More than three