Investors should have to wait
longer for redemptions from funds with hard-to-sell assets like
commercial property, or be prepared to take a hit on the cash
they get back, the Bank of England said on Monday.
The BoE and the Financial Conduct Authority (FCA) published
Lawyers representing users of
the Canadian digital platform QuadrigaCX have asked police to
exhume the body of its founder, whose sudden death last year
trapped millions of dollars in digital currencies in its
accounts, to make sure it's him.
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.