Property Funds Set for Review

The FCA is considering new a structure for open-ended property funds to allow them to hold illiquid assets while giving investors flexibility to access their money easily

James Gard 9 July, 2020 | 2:29PM

London skyline

The Financial Conduct Authority is to look again at open-ended property funds amid ongoing concerns over whether they are the right vehicle for holding illiquid assets like shopping centres and office blocks.

The FCA’s chief interim chief executive Christopher Woolard says the regulator will consult on the so-called “liquidity mismatch” issue later in the summer. It will look at whether “these funds could safely transition to a structure in which liquidity promises to investors are better aligned with the liquidity of fund assets”.

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James Gard  is content editor for Morningstar.co.uk

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