New FCA chief Bailey warns firms over clarity on risky assets

Volatility could spark outflows

Daniel Flynn
clock • 1 min read

Incoming FCA chief Andrew Bailey has warned firms to be clear about their exposure to risky assets as volatility continues to rock global markets.

Bailey (pictured) said the increasing assets under management at investment management companies has highlighted the importance of being clear about the types of investments they hold, according to The Telegraph. Some vehicles have struggled to relinquish assets in line with outflows as investors have rushed to withdraw holdings following the recent volatility created by falling oil prices, interest rate rises and a slowdown in China. Bailey reportedly praised Third Avenue's $788m credit fund for its transparency after it was liquidated in December following a warning that some funds ...

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