Investors split on notice periods for open-ended property but no FCA decision until Q3 2021

Concern over ISA eligibility

Respondents to the Financial Conduct Authority’s (FCA) consultation on open-ended property funds were broadly split over the regulator’s proposal to introduce notice periods, but will have to wait until Q3 2021 at the earliest for a decision.

The regulator launched a consultation into the fund structure nine months ago, following the second mass suspension of the sector in less than five years, but has held off on making a final decision on its policy position until it concludes its newly-launched consultation on Long Term Asset Funds. FCA begins work on establishing open-ended LTAF regime Ryan Hughes, head of active portfolios at AJ Bell, said this delay and the link to LTAF demonstrates "just how hard property asset managers have lobbied for the FCA to take a different approach". He added: "Rolling the review into a b...