FSB - Addressing Structural Vulnerabilities from Liquidity Mismatch in Open-Ended Funds

The FSB published its Revised Policy Recommendations to Address Structural Vulnerabilities from Liquidity Mismatch in Open-Ended Funds in December 2023. These recommendations supersede Section 2 of the FSB’s 2017 Policy Recommendations to Address Structural Vulnerabilities from Asset Management Activities.

IOSCO - Guidance for Open-Ended Fund use of Anti-Dilution Liquidity Management Tools

In December 2023 IOSCO published its Guidance on Anti-Dilution Liquidity Management Tools.

Portfolio Adviser Article: Property fund association lays out why open-ended struggles are overstated

Press Release: “ISA changes welcome – but much more work to do”

AREF comments on Chancellor's Autumn Statement

AREF statement - fund closures, the market & maximising the potential of UK real estate

Long-Term Asset Fund (LTAF)

The FCA have confirmed that they will not be taking forward their proposal to exclude FSCS cover for regulated activities relating to LTAFs at this time. Click here for more details about this and the Long-Term Asset Fund (LTAF) in general.

Retail Funds Committee - Update

The Committee is supporting AREF in its lobbying on behalf of authorised property funds. Click for more info.

Liquidity Management

View the update on this topic.

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Productive Finance

View the update on this topic.

IOSCO - Liquidity Risk Management Recommendations

ISOCO have published the Final Report from their Thematic Review of their Liquidity Risk Management Recommendations. Click for more information.

Central Bank of Ireland consults on macroprudential measures for the property fund sector

This is consulting on a proposal to introduce macroprudential limits on leverage and to provide guidance to limit liquidity mismatch for Irish-authorised property funds (subject to AIFMD). We are considering setting up a working group to assist with AREF’s response.

FCA PS21/14: A new authorised fund regime for investing in long term assets (LTAF)

The FCA published this Policy Statement as a follow on from their consultation (CP21/12) on a new category of authorised open-ended fund called the long-term asset fund (LTAF).

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