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"....
'No viable alternative'
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3 March 2020
CIO Stephen Jones will take up UK duties on an interim basis
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