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 IMA welcomes PRC safeguard- IMA welcomes PRC safeguard
- December 24, 2011
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The new legislation introduced for open-ended investment companies (OEICs) has enhanced Britain's position as a key domicile for funds, it is claimed.
OEICs will now benefit from a protected cell regime (PCR), ensuring that the assets of each sub-fund are ring-fenced from each other, the Investment Management Association (IMA) explains.
One sub-fund will therefore no longer be able to draw on the assets of another to cover its liabilities.
IMA Director of Authorised Funds Julie Patterson explains the risk of such a situation occurring is "miniscule", but the PCR provides assurances that this won't happen.
"The PCR is therefore a furth...
- View more at: http://www.1888pressrelease.com/ima-welcomes-prc-safeguard-pr-360977.html
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