It is good to see the Government’s ongoing focus on facilitating investment from DC schemes in a wider universe of opportunities including illiquid assets. In particular, we are supportive of the requirement to require trustees to put in place formal policies on illiquid assets in their statements of investment principles.

However, we are disappointed that the proposals don’t go further to drive meaningful changes in behaviours towards wider value and opportunity. We have published our own consultation response here. 

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If you have any questions, or would like to discuss further, please get in touch.