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...
Staff are your responsibility
More than 4,500 retail investors affected
Paid out £54m in related compensation
Still under-serviced area of sandbox
Effective 2 March 2020