LTAFs are only part of the private markets solution for wealth managers

Semi-liquid funds and ELTIFs on the table

The Financial Conduct Authority’s Long-Term Asset Fund is the UK’s answer to broadening private markets access to retail investors, but this structure is only part of the solution, Travers Smith funds partner Will Normand has argued.

In a keynote speech at Investment Week's Private Markets Summit this month, he told delegates that when building a diversified private markets allocation wealth managers should not only diversify their portfolio by manager and strategy, but also by product structure.  "The LTAF is a UK-specific answer to a UK-specific problem, but it is not the beginning, middle and end of the story. It would be foolish and ruling out quite a lot of the market to think private assets access equals the LTAFs," he said.   "The LTAF is certainly part of the solution, but I think it is important to realis...