31 August 2021
Last month the Management of Closed Funds Working Party issued a survey relating to sunset clauses and the effective run off of closed funds. From the responses the working party will be looking to assess best practice for managing closed funds. This work builds on the FCA’s thematic review and we hope to publish findings that will ultimately lead to improved customer outcomes, particularly considering:
- Sunset clauses
- Run-off plans
- Risk appetite
- Capital
- Expenses
- Dormant assets
- Potential tontine effects
The deadline for return was 31 August for the working party to commence analysis, however late responses would still be very welcome. If you have not received the request or you have any questions, then please contact Donna Meldrum. Further details on the survey can also be found on the working party IFoA webpage.