DFMs enter ‘murky’ private asset territory
But are they setting up investors for a fall?
Liquidity
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Ruffer seeks to profit as it warns over run on bond funds
Team behind £400m trust warns selling pressure would migrate to more liquid assets
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Hargreaves’ stubborn rebuke of investment trusts sparks liquidity debate
D2C platform continues to shun closed-ended structure from its Wealth 50
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Multi-asset funds face domino effect from FCA liquidity rules
Ucits funds best placed to withstand FCA changes for property and infrastructure
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FCA valuation rules to see more property funds suspend trading
Regulations will require suspension if there is material uncertainty about 20% of fund’s holdings
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What’s different 10 years on?
Investors summarise what has changed since banking system entered meltdown in September 2008
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Gam bombshell suggests absolute return confusion remains
Closed unconstrained fund range was available to retail investors despite complex derivatives and currency swaps
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Unconstrained bond liquidity sparks financial crisis concerns
Unease comes as Gam freezes Tim Haywood’s absolute return bond fund
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Woodford loses investors money over three years
Investors in Neil Woodford’s flagship equity income fund have now lost money over the last three years, as 2018 brings more hardships for one of the UK’s favourite star managers.
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Woodford trades hint at a liquidity problem
With Neil Woodford’s equity income fund continuing to shrink amid hits to his holdings, investors and analysts are again questioning whether unquoted investments in an open-ended fund are a square-peg round-hole situation.
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Woodford shuns Atom rights issue amid £1.3bn redemptions
Celebrity fund manager Neil Woodford has been forced to cut his stake in Atom Bank after suffering more than £1bn in client redemptions this year.
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European watchdog warns of investment fund ‘fire sales’
Mismatches between the liquidity of open-ended investment funds’ assets and their redemption profiles could lead to “fire sales” to meet redemption requests in times of market stress, the European Systemic Risk Board (ESRB) has warned.