LTAF: Industry asks why wealthy investors warrant 'special treatment'

Notice period raises concerns

The omission of retail investors from those eligible to invest in the new long-term asset fund structure has been questioned by industry commentators, who ask why wealthy investors have been afforded “special treatment”.

Dzmitry Lipski, head of fund research at interactive investor, noted that while the LTAF was "initially intended for ‘pension funds' or ‘sophisticated' or ‘wealthy' private investors in the first instance", this does not explain why such a decision has been made. "We are particularly mystified about why wealthy investors warrant special treatment," he said. LTAF will require minimum 90-day notice period and lays groundwork for property fund overhaul While Lipski added he was "alarmed" at plans to consult on wider retail distribution as early as next year, Helen Morrissey, senior pe...