FCA begins work on open-ended long term asset funds

"Specifically designed to accommodate relatively illiquid assets", the LTAF will be an open-ended vehicle able to invest in assets such as venture capital, private equity, private debt, real estate and infrastructure. The LTAF was first proposed in the IA's June 2019 Vision 2020 report, which outlined its vision for a UK vehicle giving investors better access to illiquid assets without some of the pitfalls inherent in some structures such as UCITS. In January, City Minister John Glen reiterated commitments from Chancellor Rishi Sunak to get the LTAF off the ground by the end of 2021. ...