FCA needs more time to decide fate of open-ended property funds
Wants to factor in feedback to proposals for a long-term asset fund for accessing illiquid assets
open ended funds
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M&G Property Portfolio re-opening leaves two still frozen property funds in the spotlight
Reit managers extol the virtues of closed-ended structures as Aegon AM and Aviva UK property funds remain shut
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Regulators to change liquidity rules for open-ended funds
BoE and FCA survey finds divergences in funds’ approaches to liquidity management
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DFMs don’t expect property funds to re-open despite clarity over valuations
RICS lifts uncertainty over real estate pricing but illiquidity continues to straitjacket managers
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Terry Smith accuses industry of failing to grasp platforms’ role in Woodford
Fundsmith CEO tackles fellow equity manager’s woes in latest annual letter to investors
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Nick Britton: The worrying normalisation of suspensions and fire sales
The principle of ‘reliable redemption’ is the best way to prevent another Woodford
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IA’s long-term asset funds fail to impress closed-ended devotees
75% of fund selectors prefer closed-ended funds for illiquid assets
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Kames welcomes FCA’s light touch on illiquid assets
A Kames Capital fund manager has welcomed news the FCA does not intend to stop investors accessing illiquid assets via open-ended funds, even after last summer’s post-Brexit panic.
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PA ANALYSIS: Property freeze thaws but are open-ended funds’ days numbered?
Following suspensions of trading and value adjustments at most of the leading UK property funds in early July, September has seen the crisis abate to a large extent.
