The Financial Conduct Authority (FCA) has invited fund groups to provide feedback on whether there should be increased flexibility surrounding the soft-closure of funds.
In a paper released today, UCITS V implementation and other changes to the Handbook affecting investment funds, the regulator said it is aware of the problems the soft-closure of a fund can cause investors, particularly at short notice. It will consult fund groups on a range of options to help manage soft-closures, including allowing investors to continue regular savings into a vehicle but closing to new lump-sum investments. FOUR founder: UCITS V rules ‘address problem that doesn't exist' The paper said: "We have been asked by some Authorised Fund Managers (AFMs) and trade...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
