View more on these topics

NAPF aims to unlock door into venture capital

The National Association of Pension Funds is calling for a relaxation of investment rules to allow increased pension fund investment in private equity and venture capital projects.

Its bid is being made in a submission to the Government review into the barriers facing alternative investment headed by Paul Myners.

The trade body argues that the registration and authorisation requirements outlined in the Financial Services Act 1986 act as a barrier to investment in venture capital trusts.

It recommends an amendment to the Act to stop what it describes as the exclusion of the vast majority of UK pension schemes from investing in most private equity funds.

It says the minimum funding requirement for occupational schemes also discourages investment in asset classes other than UK equities and bonds. It wants the requirement restructured to include an extension of the recognised asset classes beyond the FTSE All-Share index and UK gilts.

Although the NAPF defends trustees who decide not to invest in asset classes they feel will deliver poor returns, it supports Government concerns that start-ups and developing businesses may not be receiving adequate financial backing as a consequence.

Investment committee chairman Alan Rubenstein says: “The NAPF recognises the Government&#39s desire to see greater investment in private equity and venture capital. We are working with the British Venture Capital Association to encourage the creation of appropriate vehicles.”

Recommended

Home in on technology

Advisers need to find ways to stop being squeezed out the market by technology.With the growth in ways for homebuyers to get information about mortgages over the phone and on the internet, advisers need to keep their edge and retain control of their share of mortgage distribution.The explosion in the variety and number of homeloans […]

Members swap ideas in DBS&#39s workshops

DBS is piloting best practice workshops for its members where they can exchange ideas to boost their business.The 10 IFA participants were asked to choose which areas they wanted to discuss in the workshops. Subjects which have frequently been mentioned include organising and managing client banks, recruiting and retaining staff, developing the group market and […]

Jame Macleod

Perhaps more than at any other time in history of the industry, the seats at fund management&#39s top table are up for grabs.Talk to IFAs and they will list Aberdeen and Newton among the ones to watch but South African-owned Investec Asset Management – fresh from a name change from Investec Guinness Flight – is […]

Consumer panel chairwoman tells of &#39uneasy&#39 relationship with regulator

The FSA&#39s consumer panel will champion the consumer cause even if it strains its relationship with the FSA, according to panel chairwoman Barbara Saunders.Saunders was speaking at the first FSA AGM last week. Her comments come as it is revealed the consumer panel has recently appointed a spokesman from outside the FSA to speak on […]

Three stocks due a Brexit boost

By Mark Martin & Holly Cassell, Neptune Mark Martin and Holly Cassell highlight three high-conviction holdings in the Neptune UK Mid Cap Fund that they believe are well positioned to benefit from Brexit. Read more Important information Investment risks Neptune funds may have a high historic volatility rating and past performance is not a guide […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment