FSA agrees to limited issue funds

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The FSA is not looking to pursue the development of limited redemption funds for the UK market, writ...

The FSA is not looking to pursue the development of limited redemption funds for the UK market, writes Robert Stock. However, the authority has confirmed it will go ahead with plans to allow groups to cap the assets going into funds, through the development of limited issue funds. Limited redemption funds would have given fund management companies the ability to control flows of assets out of portfolios. A spokesman for the FSA, said: "We are going ahead on the limited issue side, but not on the limited redemption." Details on limited issue funds will be included in the FSA Sourcebook on...

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