- Following a call for evidence to review the UK funds regime in 2021, the previous government proceeded 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 were published with comments invited by 14 May 2024.
- Timing: Final detailed rules are expected to be set out in a statutory instrument to be laid at a later date.
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