<ul>
<li><i>The alternative investment sector is <b>ready to play a key role in supporting UK growth and innovation</b> by providing funding to SMEs and mid-market firms to help them scale up their operations</i></li>
<li><i>The fund management industry is <b>well placed to be a source of new jobs</b>, particularly if the UK can position itself as a ‘one-stop shop’ for professional investor fund management</i></li>
</ul>
UK Financial Conduct Authority Statement On Its Work On Liquidity Mismatch In Authorised Open-Ended Property Funds Date
07/05/2021
In August 2020 the FCA consulted on proposals to reduce the potential for harm to investors from the liquidity mismatch in open-ended property funds.
The potential for harm arises because the offer of frequent (typically daily) dealing in units of some property funds is not aligned with the time that it takes to sell the underlying assets in which the funds invest.
To address this, we consulted on whether property funds should be required to have notice periods before an investment can be redeemed. We suggested a notice period of between 90 and 180 days for these funds. We also asked for any alternative proposals.
Bank Of England: Minutes Of The Productive Finance Working Group - March 2021 - The Second Technical Expert Group (TEG) Meeting Date
Agenda
1. Competition law reminder by Simmons & Simmons LLP
2. Updates on and discussion of progress since the previous TEG meeting on solutions to the barriers to investment in less liquid assets
3. Agreeing next steps for delivering draft solutions for the second meeting of the Steering Committee (SC2) on 4 May
Minutes
Item 1 – Competition law reminder by Simmons & Simmons LLP
Simmons & Simmons LLP set out the legal obligations of all members of the Working Group relating to competition law. They reminded members that it is their responsibility to meet their legal obligations and to take their own legal advice.
LTAF structure will “bridge retail investors with private assets” Apr 12, 2021 By Funds Europe
Sponsors should take steps now to ensure they’re equipped once the UK’s LTAF structure goes live, argues David Genn, CEO of alternatives tech provider Goji.
Private capital fund managers’ interest in the retail market has been well established. More recently, the percolating buzz around blank-check companies in Europe should confirm retail investors are just as eager to invest in alternatives.
Enter the Long-Term Asset Fund (LTAF). Billed as the UK’s answer to support innovation and allow retail investors to diversify beyond stocks and bonds, the LTAF bridges a pronounced disconnect between investors who require liquidity and asset classes whose returns are premised on exploiting an illiquidity discount. The LTAF should be greeted with fanfare, as wealth managers and DC plan sponsors have been angling for a way into “patient” capital for decades now.
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