FCA has published its final rules for Long Term Asset Funds. An LTAF will be an open-ended authorised fund intended for investment by sophisticated investors and pension funds – in particular DC schemes whose investment appetite the funds suit, and specifically to support investment in assets such as venture capital, private equity, private debt, real estate and infrastructure.
While initially investment will not be open to retail investors, FCA will consult next year on whether it should widen the possibility to invest to certain retail investors, with appropriate safeguards.
The new rules which add a new chapter to COLL and make a number of consequential amendments to other parts of the Handbook take effect from 15 November