UK regulator delays open-ended property review as it unveils new fund type

The Financial Conduct Authority has unveiled plans for a new fund structure to overcome much-publicised serious problems of the current array of open-ended structures in dealing with illiquid assets such as property or infrastructure. But in doing so, it has also delayed the outcome of the FCA consultation on open-ended property funds. The so-called new long-term asset fund (LTAF), already mooted earlier this year, would provide a fund structure through which investors can invest with appropriate...