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"....
More than 4,500 retail investors affected
After failing to turn up to hearing twice
Winning back consumer confidence
Taxation of loyalty bonuses
Shares down more than 50%
Following M&G suspension
No change in the 'near term'
UK goes to the polls on 12 December
Over the course of this week Professional Adviser has revealed the majority of the shortlists for our 2020 PA Awards, the winners of which will be announced at a black-tie dinner in February.
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