Schroders and Phoenix Group receive approval to launch LTAFs for long-term savings, targeting £10-20bn in UK and global private markets.
Schroders and Phoenix Group have obtained regulatory approval for their joint venture, Future Growth Capital, to launch two Long-Term Asset Funds (LTAFs) in the UK: one focused on UK private markets and the other on global opportunities. Aiming to connect long-term savings with private companies, the funds are designed to provide pension savers with access to illiquid assets, enhancing diversification and potential returns. Initial investment targets range from £10-20 billion over the next decade.
October 21, 2024
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