The main objective of this research is to investigate the mechanisms of asset-liability management in investment funds. A qualitative and quantitative (mixed) research approach was used. Content analysis and interviews were used to collect information in the qualitative part, and a researcher-made questionnaire was used in the quantitative part. For standardization in the quantitative part, the validity of the questionnaire was first determined by referring to experts and professors and content validity, and then the reliability was determined through Cronbach's alpha, which is 0.874, and standardization in the qualitative part was determined by determining validity through agreement measurement and the reliability of the interviews through the stability index criterion. The statistical population of the qualitative part of the research was academic experts and investment fund managers, which was obtained through purposive sampling and using semi-structured individual interviews with an emphasis on exploratory approaches and due to information saturation with 11 academic experts. The statistical population of the quantitative section includes managers, executive managers, investment managers and auditors of funds, totaling 250 people, of whom 150 were selected using the Morgan table. The extracted components in the qualitative section were completed by the target statistical population using a researcher-made questionnaire and the desired model was designed using the structural equation modeling method. Using the qualitative content analysis method, the categories and components of the four mechanisms determined for asset and liability management, including cash flow matching, hedging, cash flow testing and dynamic financial analysis, were extracted.