The Financial Conduct Authority (FCA) is pushing forward with proposals that will give investors access to illiquid assets like real estate and private equity.

The regulator has been mulling the appropriate way to allow investors access to such assets, after sagas including the Woodford collapse and the suspension of multiple open-ended property funds, most recently during the Covid-induced market downturn.

So-called long-term asset funds (LTAFs) will initially be aimed ...