FCA eyes 180-day notice period for property fund redemptions
Consults to address 'structural mismatch'
The regulator addes the change would mean property funds "could tolerate holding less cash than they do"
The Financial Conduct Authority (FCA) has proposed steps to address the liquidity mismatch in open-ended investment funds that has led to numerous fund suspensions in recent years, including the implementation of a 180-day notice period for consumers redeeming investments.
Open-ended property funds across the IA Direct Property sector are currently suspended owing to material uncertainty in valuing their assets amid the fallout from the coronavirus pandemic. However,...
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