§ Mr. IrvineTo ask the Secretary of State for Trade and Industry when he expects to be able to publish revised proposals for new kinds of authorised unit trusts.
§ Mr. RedwoodA further consultation document including revised draft regulations was published yesterday. Comments are invited by 30 June 1990.
The draft regulations take account of comments received since proposals for new kinds of funds were announced in 1987. In particular, the earlier proposal for "mixed funds" is to be delayed until experience in operating futures and options and properties funds has been established. Further views are being sought on the scope of the provisions dealing with efficient portfolio management, the idea of two classes of futures and options funds (low and high exposure funds), and a new class of fund investing in warrants.