BoE raises tricky liquidity bar for asset managers CGAThompson
The Bank of England on July 11 said it would team up with Britain's Financial Conduct Authority, to assess whether investment funds should be required to set lengthier withdrawal periods for investors if they hold hard-to-sell assets such as commercial property.
In its latest Financial Stability Report, the BoE said its concerns centred on funds that focused on illiquid assets such as commercial property and some corporate or emerging-market bonds, rather than equities that are more easily traded. In its report the BoE also referenced the public suspension in June of an equities fund run by Neil Woodford, one of Britain's best-known money managers, after it was unable to meet demands from clients wanting to pull out their money.
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