Investment Association readies 'long-term asset fund' proposals - reports

Looks to tackle liquidity issues with retail funds structure

The Investment Association (IA) is set to unveil proposals for a new type of fund, which would seek to avert liquidity crises such as the one engulfing the Woodford Equity Income fund.

New rules and guidelines for so-called "long-term asset funds" have been in development by an IA working group over the past year, the details of which are set to be outlined at the trade body's conference on Wednesday, according to The Times. Woodford saga will have 'ramifications for active management industry' The IA will publish a report detailing how the UK asset management industry will remain competitive post-Brexit, but will also seek to encourage people to invest for the long term. As a result, its new fund proposals are set to include limits on redemptions in open...