The Treasury has moved to allow long term asset funds (LTAFs) in Stocks & Shares ISAs as of next year as a “first step” of its ISA reforms.
Chancellor Rachel Reeves unveiled a series of measures in her Leeds Reforms – so named after where she announced them – aimed to making the UK the "one destination for financial services businesses by 2035". The move to allow LTAFs to be held in Stocks & Shares has been met with mixed response from investment services, as the product already split opinions due to its less-liquid asset nature. The LTAF was first conceptualised mainly for pension funds or ‘sophisticated' or ‘wealthy' private investors, but in 2021 the Financial Conduct Authority began consulting on whether these product...
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