New FCA liquidity rules fail to shift buyer sentiment on property funds
Reaction to NURS guidelines
New Financial Conduct Authority (FCA) rules designed to improve the governance of funds investing in illiquid assets will do little to tackle the inherent problems in direct property funds, which have been hit with heavy outflows since the 2016 Brexit referendum, according to fund buyers.
Last week the FCA confirmed that as of 30 September next year non-UCITS retail schemes (NURSs), such as those in the IA UK Direct Property sector, will be subject to new liquidity-related requirements...
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