FCA greenlights the first Long Term Asset Fund

City watchdog authorises the first Long Term Asset Fund - we explain what they are and how investors can use them.

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The Financial Conduct Authority (FCA) has authorised the first Long Term Asset Fund (LTAF), a new category of open-ended fund that will allow investors access to a wider range of assets.

The FCA worked alongside the Bank of England and the Treasury to develop rules that will create “an environment where investment in longer-term, less liquid assets, by investors who understand the risks, can flourish”, it said.

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Nic studied for a BA in journalism at Cardiff University, and has an MA in magazine journalism from City University. She has previously worked for MoneyWeek.