The limited partnership scheme and the co-ownership scheme do not incur tax liability and already exist on the continent.
The FCA said their introduction will help support the government’s effort to encourage greater investment in UK funds by aligning the country’s framework with that of the rest of Europe.
The FCA’s director of policy, risk and research Chris Woolard said: “The implementation of these changes is a crucial development for the asset management industry and consumers.
“Ensuring certainty about these new measures has been a priority for the FCA. By publishing our rules now and implementing the directive on time, we are delivering that certainty and increasing cross-border opportunities for UK firms.”
Last week we reported just 15% of AIFMs are ready for the implementation of the directive, which becomes law on 22 July.
