UK Funds Review

Overview: 

AIMA and the ACC have submitted a response to the UK Government’s call for input to its review of the UK funds regime (see here for more background).   

We argue that the Government should:

  • Recognise that the present range of UK authorised funds, though well-established in the UK market, is unlikely to attract global investors.  There are improvements that could be made to these funds over time in consultation with the industry;
  • Introduce a professional investor fund regime for open-ended and closed-ended fund structures (including associated asset holding companies and securitisation companies) which would provide a competitor to EU fund regimes and offer a potential alternative to offshore fund jurisdictions; and
  • Develop the proposed long-term asset fund (LTAF) to provide an effective vehicle for defined contribution pension schemes and retail investors to invest in illiquid markets. 

Upcoming actions:

It is understood HM Treasury will determine how to take any proposals forward with a view to further consultations later this year. 

(Last updated: 29 June 2021)