FSA opens the way for funds that can include equities, funds,derivatives, bonds and cash within a single portfolio
The retail fund industry is undergoing radical change with the passing of the European product directive into UK regulations, making it the first member state to adopt the rules. The Financial Services Authority (FSA) has now approved limited issue funds, guaranteed funds and has widened the individual stock holding limitations for trackers to exceed 10%. In addition, all portfolios have now been given greater flexibility on allocation between varied asset classes. As reported in the 4 November issue of Investment Week, all securities and funds of funds launched from now on will fall u...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes