The conversion of funds of funds into non-Ucits retail schemes (Nurs) may be delayed, as such a move would leave vehicles ineligible for life links. Despite now being eligible for Isas, if a fund of fund operated under Nurs, then only 5% of its total assets could come from any link it had to a life wrapper. This is because the regulations concerning permitted links have not yet been updated to coincide with the Coll sourcebook, which has paved the way for the Nurs structure. Groups with existing Nurs funds of funds or looking to change include New Star, Credit Suisse and Hendersons. Unde...
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