BoE deputy governor flags scrutiny of fund liquidity promise

In a speech to the Association for Financial Markets in Europe last week on the challenges for financial markets, Cunliffe (pictured) highlighted sectors that have not generated risk in the past can change their profile quickly. "In this respect I would mention the explosive growth since the crisis in the size and importance of asset managers and in the funds they manage, especially open-ended investment funds," he said.  Cunliffe added funds have generally been stable in times of stress but they have grown markedly since 2008 and "with the search for yield, have become active in mo...