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...
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