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☆ Starwood Capital CEO Barry Sternlicht: Fed rate hikes aren't impacting this job market
▼ + stars: | 2024-06-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStarwood Capital CEO Barry Sternlicht: Fed rate hikes aren't impacting this job marketBarry Sternlicht, Starwood Capital chairman and CEO, joins 'Squawk Box' to discuss the state of the economy, real estate trends, limiting redemptions on property fund, the Fed's inflation fight, impact of interest rate hikes, and more.

Persons: Barry Sternlicht Organizations: Starwood Capital

☆ Barry Sternlicht on why rents are 'guaranteed' to go up in 2026 barring a recession
▼ + stars: | 2024-06-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBarry Sternlicht on why rents are 'guaranteed' to go up in 2026 barring a recessionBarry Sternlicht, Starwood Capital chairman and CEO, joins 'Squawk Box' to discuss the state of the economy, real estate trends, limiting redemptions on property fund, the Fed's inflation fight, impact of interest rate hikes, and more.

Persons: Barry Sternlicht Organizations: Starwood Capital

☆ Watch CNBC's full interview with Starwood Capital chairman and CEO Barry Sternlicht
▼ + stars: | 2024-06-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Starwood Capital chairman and CEO Barry SternlichtBarry Sternlicht, Starwood Capital chairman and CEO, joins 'Squawk Box' to discuss the state of the economy, real estate trends, limiting redemptions on property fund, the Fed's inflation fight, impact of interest rate hikes, and more.

Persons: Barry Sternlicht Barry Sternlicht Organizations: Starwood Capital

☆ China boosts property funding with first cut in key loan rate since June
▼ + stars: | 2024-02-20 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +2 min

China's lenders cut the country's benchmark five-year loan prime rate for the first time since June, extending Beijing's efforts to revive the country's anemic property market. The Chinese central bank kept its one-year loan prime rate — the peg for most household and corporate loans in China — unchanged at 3.45%. The benchmark five-year loan rate — the peg for most mortgages — was cut by 25 basis points to 3.95%, according to a statement Tuesday from the People's Bank of China. This was also the largest one-time cut in the five-year rate and the first since the five-year rate was last trimmed in June by 10 basis points. China calculates its loan prime rates each month after 20 designated commercial lenders submit their proposed rates to the PBOC.

Persons: Louise Loo, Loo, CNBC's Lee Ying Shan Organizations: People's Bank of China, Oxford Economics, Sunday Locations: China, Beijing

☆ ECB could take bigger role in supervising shadow banks, Enria says
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

European Union (EU) flags fly in front of the headquarters of the European Central Bank (ECB) in Frankfurt, Germany, July 8, 2020. REUTERS/Ralph Orlowski/File Photo Acquire Licensing RightsFRANKFURT, Nov 28 (Reuters) - The European Central Bank may need to take on a bigger role in supervising shadow banks as they are now bigger than conventional lenders and may be sitting on elevated risk, the outgoing head of the ECB's supervision arm told European newspapers. "These are different animals to banks, so we shouldn’t expect to supervise them in the same way as we supervise banks." Taking on oversight of shadow banks would require legislative changes, a time consuming process even under the best of circumstances, and requiring broad political agreement. But some have argued that such a change could ease liquidity stress, particularly if shadow banks gained access to the ECB lending operations.

Persons: Ralph Orlowski, Andrea Enria, Expansión, Enria, Balazs Koranyi, Tomasz Janowski Organizations: Union, European Central Bank, REUTERS, Rights, prudential, ECB, Thomson Locations: Frankfurt, Germany

☆ Britain's Hunt broadens push to unlock pension pots for growth
▼ + stars: | 2023-11-22 | by ( Huw Jones | ) www.reuters.com time to read: +3 min

By 2030, the majority of workplace DC savers will have their pension pots managed in schemes of over 30 billion pounds, and by 2040, all local government pension funds will be invested in pools of 200 billion pounds or more," Hunt told parliament. Hunt said such changes could help unlock an extra 75 billion pounds ($93.46 billion) of financing for high growth companies by 2030, and improve returns for pensioners. The British Business Bank will set up a new growth fund for schemes to invest in growth companies, and there will be a consultation on giving the Pension Protection Fund a new role to help consolidate direct benefit schemes, he said. The government also wants to allow certain portions of shares - fractional shares - within ISAs. ($1 = 0.8025 pounds)Reporting by Huw Jones Editing by Frances Kerry and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Jeremy Hunt, Hannah McKay, Hunt, PIMFA, William Wright, Huw Jones, Frances Kerry, Bernadette Baum Organizations: REUTERS, British, London Stock Exchange's, Aquis Exchange, DC, British Business Bank, Local, ISA, Labour Party, Labour, New, Thomson Locations: London, Britain, New York, ISAs

[1/3] Tokyo Tower is seen from the 52nd floor of 'Azabudai Hills Mori JP Tower', developed by Mori Building Co., during press preview of the complex in Tokyo, Japan, in this photo taken by Kyodo on August 8, 2023. "Housing prices and rents have risen a lot compared to the past, but in the end, salaries haven't gone up that much." After weathering decades of deflation and stagnant growth, Japan is seeing an investment boom that has made apartments in central Tokyo unaffordable for young Japanese professionals. For locals, the surge in prices has made Tokyo the second most unaffordable city worldwide, only behind Hong Kong, according to a UBS global real estate report. Average condo prices in central Tokyo were bumped up in the past year by a large supply of high-end residences hitting the market.

Persons: Kawamata, she'd, I'm, haven't, Cushman, Mari Kumagai, Kumagai, Wang Mao San, Wang, Mari Mochizuki, who's, Mariko Katsumura, Rocky Swift, Sonali Paul Organizations: Mori, Kyodo, REUTERS Acquire, Rights, Real Estate Economic, UBS, Reuters, Cushman & Wakefield, Wakefield, Shingi, fusaya Realty Inc, Super, Japan Real Estate Institute, Thomson Locations: Tokyo, Japan, Hong Kong, London, Singapore, New York, China, Asia, Asia Pacific, Australia, Taiwan, Taiwanese, Osaka, Tokyo's

☆ Blinken, in Kyiv, Says U.S. Will Send $1 Billion More in Aid
▼ + stars: | 2023-09-06 | by ( Constant Méheut | ) www.nytimes.com time to read: +6 min

The aid will also include demining assistance to clear Russian land mines and prevent the remnants of war from causing further harm to civilians, Mr. Blinken said. It includes ammunition made with depleted uranium for Abrams tanks, which are scheduled to arrive in Ukraine this fall, Mr. Blinken said. Mr. Blinken traveled by train to Kyiv with Denmark’s prime minister, Mette Frederiksen, according to a State Department statement. He was replaced by Rustem Umerov, who has been the chairman of Ukraine’s State Property Fund. A senior State Department official told reporters traveling with Mr. Blinken that the effort was aimed at “putting global support on a long-term, sustainable path.

Persons: Antony J, Blinken, Biden, Dmytro Kuleba, Volodymyr Zelensky, ” Mr, Zelensky, ”, “, Lynsey Addario, Mr, Mette Frederiksen, Blinken’s, Oleksii, Rustem Umerov, Umerov’s, Tyler Hicks, Putin, Vladimir V, Russia, Erin Mendell, Anushka Patil Organizations: Ministry of Foreign Affairs, Kyiv, United, Pentagon, The New York Times, Ukraine’s, Department, Property Fund, 22nd Mechanized Brigade, State Department Locations: Kyiv, Ukraine, U.S, United States, matériel, Kostyantynivka, Ukrainian, ”, Russia, “, Denmark, Ukraine’s, Bakhmut, Israel

☆ Who is Rustem Umerov, Ukraine's new defence minister?
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

Ukrainian Presidential Press Service/Handout via REUTERS /File Photo Acquire Licensing RightsKYIV, Sept 6 (Reuters) - Ukraine's parliament voted to approve the appointment of Rustem Umerov as defence minister on Wednesday after President Volodymyr Zelenskiy proposed him to replace Oleksii Reznikov. Here are some facts about Umerov:* Umerov, 41, is a Crimean Tatar, a Turkic people from the Black Sea Ukrainian peninsula that was annexed by Russia in 2014. Since 2020, Umerov has been a member of a Ukrainian government task force working on the strategy to end the occupation of Crimea. * In September 2022, Umerov, then a lawmaker from the pro-European Holos party, became head of the State Property Fund, an agency selling state assets to private investors. * When proposing Umerov, Zelenskiy said new approaches and other forms of interaction with the military and society were needed as Russia's invasion entered its 19th month.

Persons: Rustem Umerov, Rustem, Volodymyr Zelenskiy, Umerov, Olena, Zelenskiy, Anna Pruchnicka, Tom Balmforth, Timothy Organizations: Ukrainian Presidential Press Service, REUTERS, Rights, Oleksii, State Property Fund, Ukraine's Azov, United Arab Emirates, ASTEM, Timothy Heritage, Thomson Locations: Ukrainian, Ukraine, Kyiv, Crimean, Russia, Samarkand, Uzbekistan, Soviet Crimea, Crimea, Umerov, European, Mariupol, Zelenskiy, Saudi Arabia

☆ Who is Rustem Umerov, Ukraine's likely new defence minister?
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +2 min

Rustem Umerov, head of the country's main privatisation fund, attends a meeting in the president's office, as Russia's attack on Ukraine continues, in Kyiv, Ukraine November 16, 2022. Ukrainian Presidential Press Service/Handout via REUTERS Acquire Licensing RightsKYIV, Sept 4 (Reuters) - President Volodymyr Zelenskiy has proposed Rustem Umerov, head of Ukraine's main privatisation agency, to serve as the country's wartime defence minister. Here are some facts about Umerov, who would replace Oleksii Reznikov as defence minister:* Umerov, 41, is a Crimean Tatar, a Turkic people from the Black Sea Ukrainian peninsula that was annexed by Russia in 2014. Since 2020, Umerov has been a member of a Ukrainian government task force working on the strategy to end the occupation of Crimea. * In September 2022, Umerov, then a lawmaker from the pro-European Holos party, became head of the State Property Fund, an agency selling state assets to private investors.

Persons: Rustem Umerov, Volodymyr Zelenskiy, Umerov, Umerov's, Oleksii, Olena, Anna Pruchnicka, Tom Balmforth, Timothy Organizations: Presidential Press Service, REUTERS Acquire, Rights, State Property Fund, Azov, United Arab Emirates, ASTEM, Timothy Heritage, Thomson Locations: Ukraine, Kyiv, Crimean, Russia, Samarkand, Uzbekistan, Soviet Crimea, Ukrainian, Crimea, Umerov, European, Mariupol, Zelenskiy, Saudi Arabia

☆ Factbox: Who is Rustem Umerov, Ukraine's likely new defence minister?
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +2 min

CNN —Ukraine’s President Volodymyr Zelensky has tapped Rustem Umerov, a Crimean Tatar, to become his next defense minister, replacing Oleksii Reznikov at a critical time for Ukraine’s counteroffensive. Umerov will have a bulging in-tray if and when the Ukrainian parliament approves his appointment. The Defense Minister is also Ukraine’s main interlocutor with western allies through the Ukraine Defense Contact Group. Zelensky chose Umerov for the top defense job even though Umerov is not a member of his political party, the Servant of the People. I also explained to colleagues that they should have no hesitation because the invaders are coming to kill.”Rustem Umerov is expected to become Ukraine's next defense minister.

Persons: CNN —, Volodymyr Zelensky, Rustem, Oleksii, Zelensky, Umerov, Stalin, Forbes, “, Catherine the Great, ”, Dogukan, Reznikov, –, impinge, ” Reznikov Organizations: CNN, Defense Ministry, Defense, Ukraine Defense Contact, US, Group, State Property Fund, Center, Humanitarian Dialog, Turkish, Anadolu Agency, Getty, Ukrainian Emerging, Stanford University, Analysts, NATO, Ukrainian Defense Ministry, Twitter Locations: Crimean, Kyiv, Ukraine, Russia, Uzbekistan, Crimea, Soviet, Russian, Saudi Arabia, Ukrainian, Norway, Turkey

☆ Meet Zelenskyy's pick for Ukraine's new defense minister, who's been deeply involved with Russian negotiations and prisoner exchanges
▼ + stars: | 2023-09-04 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Ukraine's defense ministry has been mired in corruption scandals in the past few months. Advertisement Advertisement Watch:Ukraine's defense ministry has been mired in corruption scandals over the past few months. The defense ministry has also been accused of purchasing food and winter jackets at inflated prices, per the Kyiv Independent. "Minister Reznikov was very effective at getting support from other nations," Ben Hodges, a former lieutenant general who headed US Army Europe, told Insider. Since the start of the Ukraine war, Umerov has played a role in several negotiations with the Russians.

Persons: Volodymyr Zelenskyy, Rustem, Zelenskyy, Oleksii, Reznikov, Umerov, Ben Hodges, Hodges, Russia Umerov Organizations: Service, Ministry, Kyiv Independent, Army, United, United Arab Emirates, Property Fund Locations: Wall, Silicon, Kyiv, Army Europe, Ukraine, Russia, Turkey, Saudi Arabia, United Arab, Saudi

☆ Ukraine's Zelenskiy moves to replace wartime defence minister
▼ + stars: | 2023-09-03 | by ( ) www.reuters.com time to read: +2 min

Ukraine's President Volodymyr Zelenskiy and Defence Minister Oleksii Reznikov attend a meeting with German Defence Minister Boris Pistorius, amid Russia's attack on Ukraine, in Kyiv, Ukraine February 7, 2023. Press Service of the Defence Ministry of Ukraine/Handout via REUTERS/File Photo Acquire Licensing RightsKYIV, Sept 3 (Reuters) - Ukrainian President Volodymyr Zelenskiy said on Sunday he had decided to dismiss Defence Minister Oleksii Reznikov from his post and would ask parliament this week to replace him with Rustem Umerov, head of Ukraine's main privatisation fund. The announcement, made in his nightly video address to the nation, sets the stage for the biggest shakeup of Ukraine's defence establishment during the war launched by Russia in February 2022. Oleksii Reznikov has been through more than 550 days of full-scale war," Zelenskiy said. The change of defence minister must be approved by parliament, but is likely to be supported by a majority of lawmakers in the Verkhovna Rada.

Persons: Volodymyr Zelenskiy, Oleksii Reznikov, Boris Pistorius, Rustem Umerov, Reznikov, I've, Zelenskiy, Umerov, Tom Balmforth, Anna Pruchnicka, Diane Craft Organizations: Defence, German, Press Service, Defence Ministry of, REUTERS, Rights, Defense, Verkhovna Rada, Property Fund, Thomson Locations: Ukraine, Kyiv, Defence Ministry of Ukraine, Handout, Russia, Verkhovna, Crimean

☆ Zelensky Says He’ll Replace Ukraine’s Defense Minister
▼ + stars: | 2023-09-03 | by ( Andrew E. Kramer | More About Andrew E. Kramer | ) www.nytimes.com time to read: +1 min

President Volodymyr Zelensky said on Sunday that he was replacing his minister of defense, in the biggest shake-up in Ukraine’s government since Russia’s full-scale invasion in February last year. Mr. Zelensky said in a statement that he would replace Mr. Reznikov, who has not been personally implicated in the widening investigations into mishandling of military contracts, with Rustem Umerov, the chairman of Ukraine’s State Property Fund. Mr. Zelensky said he expected Ukraine’s Parliament, which must approve the change, to sign off on his request. “Oleksii Reznikov has gone through more than 550 days of full-scale war,” Mr. Zelensky said in a statement announcing his decision on Sunday night. “I believe that the ministry needs new approaches and other formats of interaction with both the military and society at large.”

Persons: Volodymyr Zelensky, Oleksii Reznikov, Zelensky, Reznikov, Rustem Umerov, “ Oleksii Reznikov, Mr, “ Organizations: Mr, Ukraine’s, Property Fund Locations: Ukraine

☆ Ukraine's anti-graft police zero in on major wartime corruption
▼ + stars: | 2023-08-21 | by ( Dan Peleschuk | ) www.reuters.com time to read: +4 min

Semen Kryvonos, director of the National Anti-Corruption Bureau of Ukraine (NABU) speaks with Reuters, amid Russia's invasion of Ukraine, in Kyiv, Ukraine August 18, 2023. But now, according to Kyiv's top anti-graft cop, it's a matter of sheer survival as the country battles against Russia's invasion. "Corruption is no longer seen as a just a crime, but as a crime against national security," said Semen Kryvonos, head of the National Anti-Corruption Bureau of Ukraine (NABU). A bigger staff of 300 detectives, compared to the current level of nearly 250, would allow for a new unit dedicated solely to reconstruction-related crimes and to strengthen an existing one probing defence-related corruption, Kryvonos added. A Transparency-commissioned opinion poll in June found that at least 77% of Ukrainians believe corruption is currently among Ukraine's main problems.

Persons: Semen Kryvonos, NABU, Volodymyr Zelenskiy, Kryvonos, Zelenskiy, Dan Peleschuk, Tom Balmforth, Philippa Fletcher Organizations: Reuters, Bureau Press Service, REUTERS Acquire, Rights, Russia, Supreme, Ukraine, European Union, Thomson Locations: Ukraine, Kyiv, Russian, Brussels

Added to valuations from December, major REITs, which build, own and operate property assets, have marked down office portfolios by roughly a tenth or less over the past year. Dexus shares have fallen 28% since 2022, while Charter Hall has nearly halved. "Buyers aren't willing to pay the price from the last valuations," said Winston Sammut, an investment manager at Sequoia Financial Group and a former executive at Charter Hall. Dexus and Charter Hall did not respond to requests for comment. "We're looking to see whether the fund managers, the Charter Halls, the Centurias, the Dexus are also getting large redemptions."

Persons: Tom Westbrook, Buyers, Winston Sammut, it's, REITs, Centuria, Grant Berry, Dexus, Ping, Blackstone, Amy Pham, Sammut, Australia's, Hostplus, that's, Pham, Lewis Jackson, Scott Murdoch, Sam Holmes Organizations: REUTERS, Charter Hall, Sequoia Financial Group, Charter, Reuters, SG Hiscock, Company, Blackstone, Sydney, Pengana Capital, Thomson Locations: Epping, Sydney, Australia, SYDNEY, Canberra, United States

Charter Hall did not immediately respond to a Reuters request for comment. On its website Charter Hall said the fund would "only sell assets for prices that reflect fair value and given the lower sales volumes in the office investment markets, sales have proved challenging". Another REIT and Australia's largest office landlord Dexus (DXS.AX) last month sold a premium downtown Sydney office block for a 17% discount on a valuation made six months earlier. The Australian and U.S. REIT benchmark indexes are down roughly a fifth since highs at the end of 2021. But unlisted fund valuations have declined more slowly, creating an incentive for investors to pull money out while a chunky premium over listed equivalents remains, according to fund managers with investments in REITs.

Persons: Australia's, Hall, Dexus, Blackstone, Lewis Jackson, Byron Kaye, Jacqueline Wong Organizations: SYDNEY, Investors, PFA Fund, Charter Hall, KKR, Australian, Income, Thomson Locations: Australian, Sydney, REITs, BlackRock

☆ UK regulator orders investment funds to manage liquidity better
▼ + stars: | 2023-07-05 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

The suspension of property funds in Britain and difficulties faced by liability-driven investment funds last September have thrown a spotlight on the ability of asset managers to drum up enough cash to meet investor redemptions or collateral calls. The watchdog said its review of asset managers found that while some firms showed very high standards, most fell short in some aspects of liquidity management, with a minority having inadequate frameworks to manage liquidity risks. "As things stand, gaps observed in liquidity management could lead to a risk of investor harm," the FCA said in a statement. The watchdog had already asked firms to review their liquidity arrangements back in 2019, and boards of asset managers should study the findings of the review, the FCA said. Asset managers should also perform liquidity stress testing diligently, and use liquidity management tools appropriately, it said.

Persons: Huw Jones, Mark Potter Organizations: Authority, Thomson Locations: Britain

☆ Regulators tighten screw on investment fund redemptions
▼ + stars: | 2023-07-05 | by ( Huw Jones | ) www.reuters.com time to read: +3 min

Central banks had to inject liquidity into markets in March 2020 during COVID-19 lockdowns as money market funds struggled in the face of a "dash for cash" to meet promises of daily redemptions. Property funds aimed at retail investors have also been offering daily redemptions and some have faced multiple suspensions in recent years due to market turbulence. For funds that invest over 50% in liquid assets, daily dealing would remain appropriate. Funds that invest mainly in less liquid assets could still offer daily redemptions if they can show regulators an ability to use specified "anti-dilution" liquidity management tools (LMTs), or else they must tighten redemption terms, the FSB said. LMTs include being able to deduct a fee from redemptions to end "first-mover advantage", or investors who rush for the exits leaving those remaining worse off.

Persons: IOSCO, Martin Moloney, Huw Jones, David Holmes, Christina Fincher Organizations: Industry, IMF, ICI, Thomson Locations: COVID, redemptions

☆ Israel cities end strike, turn to courts to block government's tax plan
▼ + stars: | 2023-05-18 | by ( Steven Scheer | ) www.reuters.com time to read: +2 min

JERUSALEM, May 18 (Reuters) - Israel's municipalities on Thursday ended a three-day strike and said they would instead turn to the courts to try to block a government plan to reallocate their tax income. Many of the biggest and wealthiest cities in Israel went on strike on Monday, shutting schools for a day and suspending services such as trash collection, over the Finance Ministry's plan. The Federation of Local Authorities said it would now go to court to block the creation of a nationwide property fund. "Local governments ... demand the state present a real plan to solve the housing crisis to bring down housing prices" with incentives to expand housing starts. Finance Minister Bezalel Smotrich said on Monday that he would not give in and that the property tax fund would be passed.

German specialised property lenders such as Aareal Bank (ARLG.DE), Deutsche Pfandbriefbank (PBBG.DE) and Berlin Hyp, have a bigger concentration of real estate exposure, analysts added. Blackstone (BX.N) recently blocked withdrawals from its $70 billion real estate income trust after facing a flurry of redemption requests. Open-ended real estate funds in Britain have also battled to meet strong demand for redemptions. In Europe, CRE exposure for smaller banks, more at risk of deposit flight, is estimated at under 30% of all loans, Capital Economics said. "On the other, real estate owners themselves are going to face quite material increase in costs."

☆ Fears mount that Europe's commercial real estate sector could be the next to blow
▼ + stars: | 2023-04-14 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +6 min

Investors are questioning the health of the commercial real estate sector following a string of recent banking crises. Mike Kemp | In Pictures | Getty ImagesConcerns are mounting around the health of Europe's commercial real estate market, with some investors questioning whether it could be the next sector to blow following last month's banking crisis. Analysts at Citi now see European real estate stocks falling by 20%-40% between 2023 and 2024 as the impact of higher interest plays out. In a worst-case scenario, the higher-risk commercial real estate sector could plummet 50% by next year, the bank said. Pere Vinolas Serra, chief executive of Spanish real estate company Inmobiliaria Colonial and chairman of the European Public Real Estate Association (EPRA), said the situation in Europe looks paradoxically strong.

☆ Columbia Threadneedle to resume dealing in UK property fund
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: 1 min

LONDON, Feb 24 (Reuters) - Investment manager Columbia Threadneedle said on Friday it will resume dealing in a key UK property fund, four months after suspending dealing amid turmoil in Britain's gilt and pensions markets. Columbia Threadneedle said in October it had suspended dealing in the CT UK Property Authorised Investment Fund and its feeder fund, as market stresses accelerated. The suspensions will be lifted with effect from 12.01 GMT on 28 February, the company said in a statement. Reporting by Iain Withers, Editing by Elizabeth Howcroft and Jane MerrimanOur Standards: The Thomson Reuters Trust Principles.

☆ Britain's post-Brexit asset management revamp eyes liquidity, tokenisation
▼ + stars: | 2023-02-20 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

Until Britain's departure from the European Union in 2020, rules for the UK funds sector were written in Brussels. The sector has fallen short in dealing with stresses in recent years in Britain and elsewhere due to inadequate liquidity, prompting scrutiny globally. "The regulatory framework contains rules around liquidity management. "But the growth of the fund industry means that liquidity management in funds is also relevant to the good functioning of markets," the discussion paper out for public consultation said. The FCA said it wants to see fund managers complying with liquidity stress testing guidelines issued by the EU's securities watchdog ESMA, which will be converted into UK rules.

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