Unit-linked funds gain wider remit

Under the new Permitted Links rules, the current limit of 10pc invested in unlisted securities would be removed. However, the FSA said a firm would not have an unlimited opportunity to invest in unlisted securities as contractual obligations to policyholders must still be met. Land investments will be made easier under the new rules as the FSA will scrap its current approach of listing territories where investment in land is acceptable. Instead, it proposes to enable land investment to be made anywhere it can be demonstrated there is a properly functioning market for transactions. The...