Long-Term Asset Fund to boost investment from DC pensions

1 August 2019

The Investment Association publishes on its website:

“The Investment Association is today setting out the detail of how the new proposed Long-Term Asset Fund will help widen access to more illiquid assets, opening up investment opportunities for a range of customers, particularly those saving in Defined Contribution (DC) pension schemes over many decades.

The fund would use an adapted version of a Non UCITS Retail Scheme (NURS) to create a new category of fund that will have three key features:

– The ability to invest widely in private markets, funding companies and wider projects, including public infrastructure and housing.

– Allow redemptions to be structured to reflect the time it takes to sell these investments, with flexibility from daily to up to two years.

– Build on the high standards of customer protection already present in NURS.

The proposal forms part of a package of measures submitted to the Treasury as part of the work of the Asset Management Taskforce, which brings together industry figures and Government officials to tackle the big issues facing the industry.”

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