- Following a call for evidence to review the UK funds regime in 2021, the government is proceeding with certain changes to the funds regime with a view to making the UK a more attractive location for funds capable of supporting a wider range of efficient investments.
- In 2023, the government ran a consultation on the creation of a reserved investor fund (RIF), a proposed closed-ended vehicle for non-retail investors that could be attractive to UK-based institutional real estate fund managers. The Spring Budget 2024 confirmed this fund type will be created. Draft regulations have been published for consultation with comments invited by 14 May 2024.
- Timing: detailed rules are expected to be set out in a statutory instrument to be laid at a later date.
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