Funds that promise investors daily liquidity for assets that fundamentally are not liquid are "built on a lie", Bank of England governor Mark Carney has warned.
Speaking to a Treasury Select Committee hearing on Wednesday, Carney said the structure of the open-ended funds "leads to an expectation of individuals that is not different than having money in a bank"....
In relation to 151 bonds
Concerns surrounding risk management
Kept details private
More than 4,500 retail investors affected
After failing to turn up to hearing twice
Fees 0.1% per annum or £20 per month
Square Mile's series of informal interviews
Percival on DB suitability
First trading loss in five years