FSA changes predicted to prompt rise in Nurs launches

legislation

regulator proposing to make schemes automatically available as life and pensions link

Non-Ucits Retail Schemes (Nurs) will be automatically eligible as a link for life and pension funds without requiring the current FSA waiver under FSA proposals. This should prompt a flood of Nurs launches, with many groups holding off in light of the life and pension uncertainty. Under the existing permitted links regime, Ucits III funds are deemed acceptable investments, while Nurs need a specific FSA waiver for inclusion. This is primarily because a Nurs can hold assets not allowed under existing rules, including gold, plus up to 20% in unregulated collective investment schemes. This ...