Investing in less liquid assets – key considerations

The Productive Finance Working Group, of which the PLSA is a member, has produced a new set of guides aimed at offering trustees advice on some of the key issues to be thinking about when making allocations to illiquid assets.

The guidance covers Value for Money, Performance Fees, Liquidity Management, Fund Structures, Legal Guide to the Long Term Asset Fund, Due Diligence Considerations, and recommendations for Consultants. 

The Group has also been producing model constitutional documents for the LTAF, beginning with the version for an ICVC, published alongside the LTAF legal guide. The other versions, for an ACS and AUT, are currently being finalised and will be published soon.