The Financial Conduct Authority (FCA) has authorised the first long-term asset fund (LTAF), a new open-ended authorised fund category to facilitate long-term asset investment.
A new regulatory regime was introduced by the association in October 2021, with consultations on broadening access to LTAFs taking place in August 2022. Final rules around LTAFs are expected to be published in the first half of 2023.
Sarah Pritchard, executive director of supervision, policy and competition for markets at the FCA, comments: “We made these rules to create an environment where investors that wish to invest in productive finance assets can more easily do so.
“It was for market participants to make this a reality and it is good to see this product innovation now taking place.”
