UK Government commits to 2021 LTAF launch

City Minister John Glen assures industry reps

The Government has reiterated its commitment to back the Investment Association's (IA) plans to launch a UK long-term asset fund (LTAF) this year.

The LTAF was first proposed in June 2019 in the IA's Vision 2020 report, which outlined its vision for a UK vehicle giving investors better access to illiquid assets without some of the pitfalls inherent in some structures such as UCITS. In attendance at HM Treasury's Asset Management Taskforce yesterday (21 January), Investment Week understands that City minister John Glen offered the industry a firm commitment from the government to getting the LTAF off the ground in 2021. It follows a similar sentiment from Chancellor Rishi Sunak, who said in November: "To encourage UK pension fund...