On 6 March 2017, the Investment Association (IA) published an updated version of its guidance for members on authorised funds.
The IA invites authorised fund managers to use the guidance, supplemented with fund and management company specific information, to inform potential investors.
Alternatively, members may choose to use relevant parts of the guidance with their own literature.
The guidance is in four sections:
- Section 1 provides a summary of the types of authorised fund structures available.
- Section 2 explains the governance structures of UK funds.
- Section 3 provides further information about the operation of UK funds.
- Section 4 describes how funds are taxed in the UK.
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