KM Financial Solutions | Bank of England says illiquid funds should lock up investor cash for longer
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Bank of England says illiquid funds should lock up investor cash for longer

Bank of England says illiquid funds should lock up investor cash for longer

Funds with illiquid assets like property should penalise investors for short-notice redemptions to reflect the likely price hit from a quick asset sale, the Bank of England concluded in a review prompted by the closure of a flagship fund run by former star stock picker Neil Woodford.
The BoE and the Financial Conduct Authority said in a joint statement they would develop new rules next year for redemptions at open-ended funds, most of which offer daily redemptions

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