The headlines surrounding UCIS funds are almost always unhelpful, and this is often a frustration for us, as it is simply not correct to treat all UCIS funds with the same scepticism.
The Financial Services Authority (FSA) recently announced it was going to ban the sale of UCIS funds to retail investors. This, of course, came as no surprise to anyone that was familiar with UCIS schemes. In fact, the most surprising thing to us was the revelation that some advisers may still be promoting UCIS funds to retail investors. Having said this, UCIS funds are suitable – and, in some instances, sensible and sound investments – for many categories of investor. The FSA has issued a number of papers providing guidance on good practice for the sale of UCIS funds, which are openly a...
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