The Government will lay legislation to exempt listed investment trusts from the current PRIIPs Regulation, as well as make other necessary amendments to other EU-assimilated law.
Not before time, the FCA has levelled the playing field for investment companies, generally quoted on the FTSE 250.
As reported on this blog, Ros Altmann and Sharon Bowles have campaigned for this over time and for good reason.
Much as I like Mick , he could pick better fights!
We need these investment trusts to work. Right now they aren’t working for anyone; investors , the trusts or the underlying companies that are invested in.
We can have consumer protections and growth too. We don’t need to lock down investments into a handful of listed markets. We want to find capital for mid cap companies who otherwise would rely on private equity.
I attended the House of Lords at Ros Altmann’s request to lobby for this change and I do not consider myself captured by any lobby! Well done the Baronesses!